11A Idea Napkin No. 1

1.   You.

• My name is Rachel McCarthy and I am a sophomore studying Business Information Systems. My talents are dancing and cheering. I have danced since I was 6 years old and cheered since I was in 5th grade. My skills and experiences are having great customer service and communication skills, as well as, being able to adapt thanks to my previous job, Chick-Fil-A. This business that I created would play a huge role in my life because it is something I deeply care about. I’ve always liked helping others feel good about themselves and this business will be a great way for me to do that.

2.   What are you offering to customers?

• I am offering individuals a product that helps styling be easier. For individuals, I am helping with their unmet need of needing guidance when getting ready. With this product, they will be able to style their selves with ease and be confident in the outfits that they wear. 

3.   Who are you offering it to?

• The demographics of my customers are individuals who are 14-30. This will include teens who may be in middle school or high school and young adults. This group includes people who know they have trouble styling their selves and want a more organized approach. My product will have a low-price range, so it will be more affordable for this group.

4.   Why do they care?

• People will buy this product because people around these ages care more about their appearance.  Businesses in this market don’t really advertise their products, so individuals will be ready to take advantage of my product once it’s out there.  I think they will buy this product because they want to dress to impress, build their confidence, and be able to decrease the amount of time it takes to get ready.

5.   What are your core competencies?

• There is only one competitor: Rabbit Tech Inc that also has the same app. There are also some styling websites like Dailylook and Stitch Fix. All these alternatives make people pay monthly subscriptions, which can be costly for the demographic I am targeting. Besides, I haven’t seen much advertising for these products.  My product will be heavily marketed on social platforms, will be affordable, and will be personalized towards the consumer. 

Evaluation
           After evaluating all these elements, I believe that they can all work together. However, my concept is weak compared to others. I haven’t started on the app yet or thought about the technical details of how the closet and app will interlink. I will eventually get it done, but my competitors have already established themselves. Also, I know the need is going to appeal to my demographic, however, I don’t know if they will actually buy it. I learned from previous interviews that this was a need, but some people from this demographic simply didn't care to buy a closet app to help them get ready. However, I’ll continue with this opportunity and help people be at ease when getting ready.