Assignment 25A- What’s Next?

Existing Market

1.     I think that the next step for my product, top coat nail polish that does not chip, would be to launch it into retailers. It would need to be tested to find the right amount of chemicals that would be safe for people and effective. Then it would be marketed to nail salons and individuals.

2.     Interviews:

a.     The first person I interviewed was my roommate. When I explained my business idea to her, she thought it was a great idea and gave me a lot of feedback. She said that she sees this product being pursued mostly by individuals. Those that go to the nail salon are already spending a lot of money and often do not want to spend any more than they have to have nice nails. She thinks that those who paint their own nails would buy this product the most since they are typically having to redo their nails every few days. She thinks that if the bottle had a fancy and colorful design that it might appeal to people more.

b.     The next person I interviewed was a girl in my sorority. She told me that she thinks my customers want this product to be good for the environment in some sort of way, whether it was the original packaging (recyclable?) or the bottle itself. She said it would also be great if the nail polish itself did not use harsh chemicals that are bad for the environment.

c.     The final person I interviewed was another person in my sorority. She said that she thinks my customers would want to see this product sold online on websites such as Amazon. She said that with technology nowadays, people want convenience and want to have what they buy as quickly as possible.

3.     Reflection:

I think it would be great for this product to be sold on Amazon. If it were available through Amazon, I think it would gain a lot more attention. Some people use Amazon for everything and coming across my product on there might cause them to tell others or even leave a review (if they buy it).

I would like for this product, eventually, to be environmentally friendly. I think it is important for products to be environmentally friendly with all of the pollution and global warming going on. This is something I would like to achieve but it would take a lot of time, testing, and money.

New Market

1.     A new market that I have not identified would be men. While mostly women wear nail polish, some men do as well.

2.     This product would create value for men just as much as it would create value for women. When getting your nails done at the nail salon or painting them at home, there are times when the polish chips and does not last as long as you would like it to. Men would have the same problem as women in the aspect of chipping. I think men would also like their nails to last as long as possible and not have to spend money as often.

3.     Interviews:

a.     The first man I interviewed is my friends roommate. He frequently gets his nails done because he likes how it makes him feel “put together”. After explaining my business plan to him he said that he thought it was a really good idea and he thinks that a lot of other men would find it intriguing. He thinks that I should market it to both men and women for word about the product to spread to customers like him. This would allow men to see that this product could also be very useful to them as well.

b.     The next man I interviewed is my friends brother. He told me that he thinks that this product should also be marketed as being only used as a clear coat as well as a top coat on top of nail polish. He said that sometimes he just wants to get a manicure and have well maintained nails but without color. He said that this might be more intriguing to men who do not want color on their nails. They would still be able to have nice, put together nails, just without color.

4.     Reflection:

I like how these men both pointed out that there was not much that I needed to do differently in order to target men, as well as women. I was surprised at how much they both liked my business idea and how much feedback that they gave me. I also did not realize that some men just like a clear coat on their nails after having a manicure (This makes me think about all the times I’ve seen men at the nail salon with their wives as a date night.).

After interviewing these men, it is clear that to target men I would need to add more marketing techniques. This would not be very difficult. For example, one marketing picture/video/ad I could have a couple getting their nails done and both using the top coat in their services. Another could be a male getting his nails done and using the top coat on top of the nail polish he chooses. One more could be a woman getting her nails done and having the top coat on top of her nail polish.

I think that this market is just as attractive as my existing market. I would not have to change much to appeal to another whole market.