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Final project for HBS Launching Tech Ventures course

Final project for HBS Launching Tech Ventures course

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Findings from Survey Monkey on customer research to find common jeans shopping problems and examine differences by age group.

Findings from Survey Monkey on customer research to find common jeans shopping problems and examine differences by age group.

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Final project for HBS Launching Tech Ventures course

  1. 1. Kismet Denim Julia Kastner 4.24.2012 better-fitting jeans for sophisticated women Look good Do good Designed to be flattering •  Sophisticated – not distressed •  Fit models size 8 •  Construction – wide waistbands •  Fabric - stretchy Fair Trade and Organic cotton Handmade details Sweatshop free and sustainable
  2. 2. Tested hypotheses to inform product design Business goal: To serve affluent, sophisticated women 30+ and reduce production costs we can reduce denim washing and treatment processes: Hypotheses: •  Women 30+ prefer dark jeans •  Women 30+ prefer fewer “whiskers” or artificial creases •  Women 30+ prefer less bleach •  Women 30+ prefer pencil legs or skinny jeans •  Women 30+ prefer simple but branded pockets •  Women 30+ prefer pockets without sparkles •  Hypotheses hold true for both premium ($100+) and non-premium jeans K K
  3. 3. Chose test design – conjoint vs. survey   Advantages Conjoint •  breaks a product concept into relevant attributes •  estimates the value potential customers attach to each attribute Survey •  Show two pairs of jeans Disadvantages • Expensive •  ($1,500 student tool) • Powerful • Analyze each attribute independently of others • Low cost •  Ask survey taker to choose preferred picture • Relatively easy to implement •  Mix premium and nonpremium • Learn basics about product features • Recommended • sample size = 400 • (by Survey Analytics)* • Difficult to write and ask non-biased, objective questions • Hard to recruit representative respondents Decided this was not feasible Chose to conduct a survey *Conjoint  research  from  Jack  Geiger,  Survey  Analy<cs.  360.471.5514  
  4. 4. Made and conducted survey   Filtered for age group: Asked participants to choose between pairs of jeans styles: $89  un-­‐distressed  jeans    (Banana  Republic)   110 responses 35 age 21-29 75 age 30+ $200  distressed  jeans     (Seven  for  All  Mankind)  
  5. 5. Sample questions: coating, color & legs   Light vs. Dark Coated vs. Clean Skinny/Pencil vs. Boot/Flair
  6. 6. Sample questions: pocket brands & designs   Sparkle vs. No Sparkle Levi’s vs. True Religion
  7. 7. Survey results - styles   •  Most  women  prefer  dark  jeans,  clean  styles   •  Women  in  20’s  prefer  skinny;  women  30+  are  divided  between  skinny  &  boot   Percent chose style: Clean ($60) (vs. distressed with whiskers) Dark ($89) (vs. very light $200) Distressed, coated rear ($69) (vs. clean $179) Boot cut/flair ($179) (vs. skinny/pencil $179) No bleach ($179) (vs. bleached knees $179) Total Age 21-29 Age 30+ 68% 80% 62% 94% 97% 92% 26% 17% 30% 41% 31% 54% 65% 74% 61%
  8. 8. Survey results: pocket branding & design   • All  women  prefer  pockets  with  simple  designs  like  Levi’s  and  Seven’s   • Women  preferred  Levi’s  pocket  slightly  more  than  a  clean  pocket   • Most  women  surveyed  do  not  prefer  True  Religion  pockets  over  plain  pockets   • When  shown  pockets  without  designs,  women  30+  preferred  bigger  pockets   Percent chose pocket: Seven for All Mankind ($200) (vs. no brand) Levi’s ($50) (vs. no brand) True Religion ($200) (vs. no brand) Sparkle ($179) (vs. design without sparkle $179) Bigger pocket ($50) (vs. no brand) Total (79 women) Age 21-29 (31 women) Age 30+ (48 women) 55% 51% 57% 63% 59% 65% 16% 12% 18% 18% 6% 24% 59% 44% 66%
  9. 9. Progress made against business objectives   •  Used understanding of pocket preferences to inform ongoing graphic design of jeans pockets •  Using preferences around colors to inform wash development process – darker colors •  Using preferences around leg shape to inform sample development – will make both bell and pencil samples
  10. 10. General lessons learned   •  Conjoint is really expensive and difficult for an entrepreneur! But potentially solves survey problems. •  Surveys can surface customer preferences – providing surprising results and confirm/disprove hypotheses •  Hard to know if sample is representative, sufficient – especially when comparing 2 populations •  Nuances of writing surveys – some questions were misleading – when more than one attribute was even a little bit different (e.g. one pair distressed AND darker) hard to disaggregate preferences

Hinweis der Redaktion

  • Kismet will make jeans that make women look beautiful and sophisticated –with handmade embroidery and fabrics from around the world and designs that flatter the female figure. At the same time, Kismet will do good by using materials with the well-known certifications of FT and organic (like this delcious tea), and sweatshop free and environmentally responsible manufacturing.

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