Date post: | 14-Jan-2017 |
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DOWNTON Annie Song Courtney Pittenger Cynthia Roberts
Interviews since class: 13Total Interviews: 51 Sales: 6 Revenue: $710
DAY 0: WHAT WE THOUGHTBeing a modern
professional woman sucks. All day long we
are stuck at work wearing shoes that don’t keep our feet
warm and aren’t comfortable.
In the wintertime, it’s super annoying to wear giant clunky
boots into the office and then have to
change shoes once we get there. What a
drag!
We need a shoe that looks good on the
outside, keeps our feet warm on the inside, and is sharp enough
for a professional setting.
Our original MVP:Static image of black ballet flat with unpronounced shearlingFocused on quilted bottomEmphasized cold feet, commute to office, and transition to professional shoes
Raw material suppliers
Production and sampling partners
(offshore manufacturers)
Dropship partners
Product designManage supply chain
and operations Manage customer
engagement
Designers, website developers, marketers
Short-term rental spaces
Brand recognition and reputation, trademark
Shoes that are comfortable, stylish, and warm without looking like a cold
weather shoe
Transitions seamlessly from the commute
into the office
Eliminates hassle of bringing extra shoes, needing to wear shoe liners for warmth, and
other workarounds
Customer service
Social media
Own: Website, mobile app, pop-up shops
Professional women between the ages of
25 and 50 who...
Commutes daily
Suffers from cold feet
Geographically located in the
Midwest, Northeast, and Pacific Northwest
Rent, salaries, IT costsCost of goods sold, dropship costs, shipping costs
Costs related to pop-up shops (rent, staff, POS equipment)Retail sales
Customer Segments
Value Propositions
Channels
Customer Relationships
Key Activities
Key Resources
Revenue StreamsCost Structure
Key Partnerships
DAY 1: BUSINESS MODEL CANVAS
DAY 1: LEARNINGSA lot of people really like to wear heels.It makes them feel
polished, professional, and tall.
They’re not willing to give that up.
Women also want their feet to be comfortable,
and like the padded bottom. Women did
not immediately notice the shearling on our
MVP.
Some worried their feet would get too hot
in a shearling flat.
Some worried the top of their foot would still
be cold in the flat.
They said they don’t wear flats when it’s
cold enough outside to warrant shearling. A
shearling bootie would make more sense.
Perhaps our concept is more of a weekend shoe, rather than a
work shoe?
REFINED MVPWe built a website describing the functional features of the shoe.Customers weren’t noticing the shearling inside the flat, so we updated the image. Customers kept suggesting a bootie to us, so we added a shearling-lined bootie to our collection.
DAY 2 LEARNINGSA lot of people still
don’t get it. They think the shoes are ugly or
don’t make sense.
However, some women immediately understood the idea and really liked it!
Perhaps there are two segments for us:
women with cold feet, and women without.
But how serious are they about the
product? Would they actually buy? We
needed to ask for pre-orders.
DAY 3 LEARNINGSEven for “functional”
shoes, style is essential. No women
buys based on function alone.
The style of the shoe is what immediately
attracts women, and then functionality is a
nice add-on.
To find out whether a shoe is really
comfortable, women rely on word of mouth
recommendations.
And we had our first sale!
The phrase ‘cold weather shoe’ makes people think of their heaviest snow boots.
This is not how we want to be seen.
We updated our positioning & MVP to first focus on style, and functionality
second. We stopped using the phrase ‘cold weather.’
DAY 4 LEARNINGSSome women LOVE
shoes. Others are more indifferent, and rarely
buy shoes.
Cold feet tends to run in families.
Growing up, women learn how to shop for
shoes from their mother. Their shoe
style tends to follow their mother’s.
Younger women would not be caught dead in
a shoe that looks ‘frumpy’, like it’s for an
older woman.
Target younger women, and their
mothers will follow.
DAY 5: OUR FINAL BUSINESS MODEL CANVASRaw material
suppliers
Production and sampling partners
(offshore manufacturers)
Dropship partners
Product designManage supply chain
and operations Build a brand
Designers, website developers, marketers
Short-term rental spaces
Brand recognition and reputation, trademark
Adding an interior shearling lining into
flats and boots creates shoes that are
warm and comfortable without
sacrificing style
Customer service
Social media
Own: Website, pop-up shops
Women who love shoes, typically ‘run cold’ and have cold feet, appreciate the quality of a shoe and are willing to spend
more for it.Younger women, ages
20-35
Rent, salaries, IT costsCost of goods sold, dropship costs, shipping costs
Costs related to pop-up shops (rent, staff, POS equipment)Retail sales
Customer Segments
Value Propositions
Channels
Customer Relationships
Key Activities
Key Resources
Revenue StreamsCost Structure
Key Partnerships