After a great deal of brainstorming, we collectively decided on the name “Duped” for our app and began to define the audience for our service in accordance with the considerations laid out in our core text book.
To us, “Duped” is a time as well as money saver and so our audience consists of two potential demographic groups; younger millennials and young professionals. Both of these women are stylish, trendy and most notably busy, they want to engage in the latest beauty trends but they want to do so in a cost effective and simplistic manner. “Duped” provides a service to these women by allowing them to find alternatives for higher priced products at a more affordable price saving them time and money in the process. Our philosophy behind the app is “beauty without compromise”, we believe that being constantly on the go doesn’t mean you can’t look your best, our values are convenience and affordability so our users can spend their surplus hard earned cash on the more entertaining things in life, like tapas with friends!
This week we asked ourselves;
- What problems do customers want to solve? Save money by finding more reasonable alternatives to higher end beauty products.
- What are customers requesting? Our audience realises that more affordable dupes for pricier beauty products exist but don’t have the time to trawl through stores like Boots searching for them or go through the monotonous trial and error process of testing all these alternative beauty products. The app simply does it for them!
- Do our customers have unstated needs? Yes, our customers want to look their best and stay up to date with the latest beauty trends
We were than able to isolate our potential, available and penetrated markets
Potential Market: Female millennials from university age up to young professional with an interest in beauty.
Available Market: As our app will be available free of charge to customers, generating revenue from sponsored advertising and featured brands as an alternative to app downloads, our service will be an affordable and viable option for the majority of our potential market. However, in terms of product awareness we can expect the majority of our app downloads to come from within Ireland. This is primarily due to our intended utilisation of an influencer marketing approach when launching the service, we intend to approach Irish blogging/beauty personalities with our idea as a way to connect with our target audience more effectively. Our logic behind this tactic is maximum reach, social influencers boast massive followings on a variety of platforms, all of which include our target audience. By collaborating with these individuals we hold the opportunity to penetrate a sizable chunk of our potential audience whilst simultaneously gaining trust from consumers as our advertising message emanates from an already established reliable source.
Penetrated Market: We would normally consider that these individuals to be those who have already purchased this type of service, however, with this current service not being heavily marketed in Ireland (Our app competition was designed for the US market) we had to think outside the box. For this reason, we would consider our narrowest market to be Irish women between the ages of 20-35 who regularly browse Irish blogs and “dupe” articles and websites.