Idea validation report - Online Fashion Store

1. Idea : - Online Fashion Store
Copyright © Ideovate.io 2015-17
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2. Name of your startup ideaName of your startup idea
Real problem/customer pain your idea solves.Real problem/customer pain your idea solves.
Most of time user is spoilt for choice in burgeoning e-commerce website ,
hence couldn't take the best possible choice (in terms of money and occasion)
for the same and goes on spending money and effort unproductive manner.
Explain your solution to the above problem.Explain your solution to the above problem.
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Explain your solution to the above problem.Explain your solution to the above problem.
It gives a person most optimal fashion look / wardrobe in very short time based
on local finds other factors (physical and demographic)
Startup Owner:
Subscription Plan Opted : FREE PlanSubscription Plan Opted : FREE Plan

3. Copyright © Ideovate.io 2015-17 3Parameter wise scores & observations

4. Business Model Validation
How your company will operate and earn revenue?How your company will operate and earn revenue?
 It seems, your business model is following the common trajectory of e-commerce
companies. The trend which is omnipresent in this sector is that the market tends to go with
the flock, they are apprehensive to test a new player in this segment and this is a major
cause of failure for most e-commerce start-ups. You need to offer the best available service
and market it in an intensive manner to make this venture victorious.
 Haplessly, there are plethora of gigantic competitors in this sphere who have mastered the
art of selling fashion related product and most importantly your customer base is a major
market for these companies. You need to device the best possible marketing plan and
stress on your USP to allure them to test your service. If successful, then this project will
turn highly lucrative.
Copyright © Ideovate.io 2015-17 4
 It seems, your business model is following the common trajectory of e-commerce
companies. The trend which is omnipresent in this sector is that the market tends to go with
the flock, they are apprehensive to test a new player in this segment and this is a major
cause of failure for most e-commerce start-ups. You need to offer the best available service
and market it in an intensive manner to make this venture victorious.
 Haplessly, there are plethora of gigantic competitors in this sphere who have mastered the
art of selling fashion related product and most importantly your customer base is a major
market for these companies. You need to device the best possible marketing plan and
stress on your USP to allure them to test your service. If successful, then this project will
turn highly lucrative.

5. Observations (Contd.)
 You have clearly stated the features of your ideas. If you know the likes and dislikes of your
product/services, it means that you know what are the advantages and disadvantages you
have and accordingly you can plan your strategies.
 First impression matters a lot in this segment, you need to ensure that the customer service
is excellent and precise so that your target audience considers you as a convenient
alterative. In our professional plan, you can understand the business models of the
successful players operating in this segment which will help you.
 You have clear differentiating benefits or features but most probably they are not that
attractive to sway away your customer base from the major players. You need to add some
more ingredients in your USP to make it totally irresistible.
 Your competitors in this domain are the juggernauts - Amazon, Flipkart, Myntra. Initially the
market will obviously prefer those destinations but if you modify your USP, lay immense
stress on advertising and offer better customer service, success may be imminent . Great
amount of investment is inevitable to properly execute this project.
Copyright © Ideovate.io 2015-17 5
 You have clearly stated the features of your ideas. If you know the likes and dislikes of your
product/services, it means that you know what are the advantages and disadvantages you
have and accordingly you can plan your strategies.
 First impression matters a lot in this segment, you need to ensure that the customer service
is excellent and precise so that your target audience considers you as a convenient
alterative. In our professional plan, you can understand the business models of the
successful players operating in this segment which will help you.
 You have clear differentiating benefits or features but most probably they are not that
attractive to sway away your customer base from the major players. You need to add some
more ingredients in your USP to make it totally irresistible.
 Your competitors in this domain are the juggernauts - Amazon, Flipkart, Myntra. Initially the
market will obviously prefer those destinations but if you modify your USP, lay immense
stress on advertising and offer better customer service, success may be imminent . Great
amount of investment is inevitable to properly execute this project.

6. Market Size Validation
The industry you will operate in and your target customers?The industry you will operate in and your target customers?
 You have stated the size of the market that will use your portal but it is immensely
uncertain unless you create an extraordinary USP.
 The giants of this sphere may curb your potential to grow fast and exploit the market
opportunities to the highest extent. Efficient Marketing and an interesting application may
allow you to properly reach out to your target audience and gradually enrol them in your
customer base.
 Rapid digitisation is increasing the market of e-commerce market in a humongous manner
but the users usually tend to buy from renowned portals. This is a blatant disadvantage but
following a unique and efficient market strategy will surely draw customers.
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 You have stated the size of the market that will use your portal but it is immensely
uncertain unless you create an extraordinary USP.
 The giants of this sphere may curb your potential to grow fast and exploit the market
opportunities to the highest extent. Efficient Marketing and an interesting application may
allow you to properly reach out to your target audience and gradually enrol them in your
customer base.
 Rapid digitisation is increasing the market of e-commerce market in a humongous manner
but the users usually tend to buy from renowned portals. This is a blatant disadvantage but
following a unique and efficient market strategy will surely draw customers.

7. Observations (Contd.)
 Market size of your idea is huge but once you clearly define your niche you need test your
niche thru pre-orders forms on a landing page, response on this will be a solid sign of
customer commitment. Someone saying they’re interested is one thing, but seeing people
actually pony up their credit card information is a much stronger sign of potential success.
 Before investing in any business idea, it is vital to conduct a market research and survey.
The analysis of the same will reveal important information about consumer behaviour and
preferences. You can join our paid plans to achieve this.
 Positive feedback loop is very important. If there is no further development in the product
due to lack of feedback loop, it means it is in the declining phase and demand would
decrease. If no feedback is taken then the organisation will be unaware whether the idea
be accepted or not by the customers.
 Extensive research is required before starting this venture . Understanding how many
people need your idea -- and what they’re willing to pay for it -- will help you determine
.whether your concept is viable. After testing the viability you may modify your USP
accordingly.
Copyright © Ideovate.io 2015-17 7
 Market size of your idea is huge but once you clearly define your niche you need test your
niche thru pre-orders forms on a landing page, response on this will be a solid sign of
customer commitment. Someone saying they’re interested is one thing, but seeing people
actually pony up their credit card information is a much stronger sign of potential success.
 Before investing in any business idea, it is vital to conduct a market research and survey.
The analysis of the same will reveal important information about consumer behaviour and
preferences. You can join our paid plans to achieve this.
 Positive feedback loop is very important. If there is no further development in the product
due to lack of feedback loop, it means it is in the declining phase and demand would
decrease. If no feedback is taken then the organisation will be unaware whether the idea
be accepted or not by the customers.
 Extensive research is required before starting this venture . Understanding how many
people need your idea -- and what they’re willing to pay for it -- will help you determine
.whether your concept is viable. After testing the viability you may modify your USP
accordingly.

8. Concept Validation
Evaluating potential customer response to a product idea.Evaluating potential customer response to a product idea.
 The concept is unique and the start-up owner looks very confident in his/her response
which shows that the person strongly believes in the idea but further inspection of the
concept is required to create a suave USP or else the start-up may not achieve its desired
objective.
 Your idea can be easily plagiarized or copied. You must protect your idea by adopting
differentiated process or by having best in class quality of party members.
 You have clarity on the important features of your product, but conducting more research
on problem/solution side of your idea will allow you to create an ideal service which can
compete existing players and would not be prone to disintegration.
Copyright © Ideovate.io 2015-17 8
 The concept is unique and the start-up owner looks very confident in his/her response
which shows that the person strongly believes in the idea but further inspection of the
concept is required to create a suave USP or else the start-up may not achieve its desired
objective.
 Your idea can be easily plagiarized or copied. You must protect your idea by adopting
differentiated process or by having best in class quality of party members.
 You have clarity on the important features of your product, but conducting more research
on problem/solution side of your idea will allow you to create an ideal service which can
compete existing players and would not be prone to disintegration.

9. Observations (Contd.)
 One of the biggest mistakes that an entrepreneur can make is to avoid problem research.
Because most entrepreneurs enjoy providing the solution part, they end up neglecting
validating the problem they’re solving for. Don’t jump into solution-land right away. Your
concept needs thorough analysis to make the entire thing profitable, direct interaction with
your target audience regarding their problem will be a multi pronged beneficial scheme. At
first, it will validate your concept and you will gain a deep insight about the kind of product
they desire. It will also market the product in disguise.
 In today's world where most of our target audiences engage themselves digitally, it is
mandatory for everyone to do a test ad run to get the initial traction.
 You have not created a minimum value product , you need to build one as soon as possible
and start garnering reviews .It will help you to improvise your USP and introspect your
concept.
 You need to properly utilize and market your USP to draw your customer base from the
existing players. This is a very significant step or else the product will get lost in the market.
Copyright © Ideovate.io 2015-17 9
 One of the biggest mistakes that an entrepreneur can make is to avoid problem research.
Because most entrepreneurs enjoy providing the solution part, they end up neglecting
validating the problem they’re solving for. Don’t jump into solution-land right away. Your
concept needs thorough analysis to make the entire thing profitable, direct interaction with
your target audience regarding their problem will be a multi pronged beneficial scheme. At
first, it will validate your concept and you will gain a deep insight about the kind of product
they desire. It will also market the product in disguise.
 In today's world where most of our target audiences engage themselves digitally, it is
mandatory for everyone to do a test ad run to get the initial traction.
 You have not created a minimum value product , you need to build one as soon as possible
and start garnering reviews .It will help you to improvise your USP and introspect your
concept.
 You need to properly utilize and market your USP to draw your customer base from the
existing players. This is a very significant step or else the product will get lost in the market.

10. Copyright © Ideovate.io 2015-17 10

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12. Is my idea good enough?
What we do?
Copyright © Ideovate.io 2015-17 12
Validate, Validate, Validate
Is my idea good enough?

13. Get your idea validated in 3 steps
Spend just 10 minutes to answer our questions & get your idea validated in 24hrs
Research &
Ranking of
your idea
Submit
your idea
Insightful
diagnostic
report
Research &
Ranking of
your idea
Submit
your idea
Insightful
diagnostic
report
Startup owner will submit his/her
idea on our website & make the
payment. Based on the
subscription plan they receive
questionnaire. For enterprise plan
a telephonic interview will be
conducted.
Step 1
For every response submitted, our
internal algorithm will generate ‘N’
number of questions which will be
evaluated by our expert team and
scores are assigned on each
evaluation parameter.
Step 2
Client will receive a detailed
research & rating report
wherein evaluation on each
parameter with score out of 10,
feedback/suggestion are
provided. A certificate will be
issued with overall score.
Step 3
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