To Shave Survey Introduction Our main purpose on launching a survey was to understand the consumer’s interests and wishes regarding our product. Form the answers, we collected opinions on our product; why is our product needed in the marker; the consumer characteristics. The survey allows us to study similar products concerns; purchase channels; How familiar are you with the body shaving subject? Depilation is a matter that have gained a lot of popularity these days so, we felt the necessity of asking how familiar people are with depilating. For this question we used a scale from 1 to 5, where 1 is not familiar at all and 5 is very familiar. After analyzing the survey, we found that the majority of the answers were the higher marks (4 or 5) which out of 595 answers are related to this majority a total of 378. This data is clearly making a clear statement that the people, nowadays, are quite familiar with depilation itself. Do you shave? After knowing if the participants of this survey are or are not familiar with the body shaving concept, we wanted to know if they shaved. With this important question we were able to define, in addition with the first one, the percentage of participants who may be willing to change their shaving method to a painless way, if the answer was a “Yes”, and the percentage of participants who may be interested in start doing it with our product, if the answer was a “No”. As the graphic shows 96% of all respondents answered a “Yes” to this question. If you depilate, what method do you use? Considering that depilation isn’t something new, and there are multiple ways of doing it, we felt it was necessary to know what most people were using. Through our survey we found out that out of the 574 people who answered that they depilate, the majority uses a shaving method, the second most answered method was wax and then laser in a close third place. A considerable amount of people chose the depilatory cream as an option. Even with the pain wax is a very common method. Also, we have reason to believe that people who are now choosing other methods will choose wax when it becomes a painless process. Where do you buy your depilating products? Now, having the information of what methods people use the most, we considered important asking people where they acquire their depilation products. After carefully analyzing the gathered data, we found that almost all the people buy their depilating products on retail stores and beauticians. This information gives us an heads up on where we should distribute our product, clearly identifying the distribution channels, therefore having a bigger impact and being more efficient. How often do you depilate? With this question we wanted to know how often our participants depilate to understand if our product would be helpful to reduce that time period. Normally, waxing causes pain and that’s why most people take longer periods of time not depilating. With our survey we can see that 42% of the people that answered the time period between depilating sessions is within a month depilate and with our product there would not be any pain so this process of depilating could become a day to day process in a person’s hygiene. What would be the perfect wax aroma for you? The main purpose of this question was to know how much we should produce of each aroma, which one should we invest more, and produce more in an early stage. The ranking was, in first place Aloe Vera (42%), in second place Chocolate (27%) and finally in third Honey (24%), the 7% left belongs to people who rather not to answer this question. These results tell us that we should produce a bigger quantity of wax bands with the Aloe Vera aroma, and then the other two in smaller quantities. Prsfsred Aroma TO SHAVE Painless Wax Bands Painless Wax Bands TO SHAVE Painless Wax Bands 1 J2 \•/ E»a What are your main concerns about wax? Waxing is one of the options for dealing with excess hair growth. It is fairly inexpensive, can be done by yourself at home or at a salon by an aesthetician, and the results can last for up to several weeks. Despite these advantages, wax users that took the survey pointed out some concerns about the method. Most of the participants, mentioned the pain factor as their main concern, which tells us that our product will be well accepted in the market due to its painless factor. The second most common concern was the skin damage waxing may cause, leading to breakouts or ingrown hairs. Some of the respondents also mentioned the price factor, when compared with the most affordable option, which is shaving, it can be slightly more expensive. Although rare, the time it takes to get waxed was also considered as a concern. How useful would it be a painless wax? This is one of the most important questions of our survey. First of all, because it allows us to understand whether people will use our product or not. Secondly, because it helps us segment the groups we want to target. For this question, we used a scale between 1 and 7, being 1 not useful at all and 7 extremely useful. To make better conclusions, we constructed the graphic below. Analyzing the graphic, most of our participants believe our product is extremely useful (67.17%). There are many people who also considered the same, choosing the numbers 5 and 6 related do utility (11.6%). Finally, there are some people who think our product isn’t so useful - choosing between 1 and 4 (6.1%). This can happen due to the fact that some enquired don’t shave our use shaving as their preferred method, and so having this product might not be useful at all. Age Most of the enquired are between 20 and 30 years old (39.3%). There’s also a big number of participants with ages between 30 and 40 (37.3%). In addition, 9.5% of the respondents are under 20 years old. 7% are between 40 and 50 years old, 9.2% between 50 and 60 and, finally, 6.7% above 60. Gender Most of the enquired were female (71.7%) STP – To Shave Segmentation Trough market segmentation, we will divide our population of interest in segments in order to better identify our future customers. We are going to use a multiple segmentation bases with the goal to better define target groups. Geographic: Shaving it is a worldwide concept so there is a large potential for To Shave in every region of the world. In a more detailed and specific way we can think about shaving as not only a hygiene concern as also a beauty care which means that countries with higher temperatures and coastal countries are more likely to support and buy this product. To shave will be available initially in Portugal to test the market and see what the response to the concept will be. Further down the line, if our product is well accepted in the market, we would like for it to reach international markets as well, first in Europe and then USA because of its wide range of consumers. Demographic The consumption of our product is not aged restricted; we can only differentiate the age of our potential customers in one single segment: according to factual data the average age for boys and girls to begin puberty is between 10 and 12 years old, due to the growth of body hair. With this information the segmented age range for our potential customers will probably be towards people with age above 10 to 12 years old. By analysing the survey data, we can establish a relationship between usefulness and age of the participants. We can assume that this relationship is growing from puberty to adulthood but then starts decreasing as the age of the respondents starts increasing, reaching very low levels by the age of 60+ years old. This information allows us to predict that most of our customer’s age will be between 10 and 40 years old. When it comes to gender, 80.5% of our participants of males and 90.5% of females shave. This information makes a clear statement that the feminine gender is more likely to shave. Having this result our product tends to focus more on the feminine gender since mostly of the male population uses different shaving methods. Although, we obtained this information through the survey, it can be possible that the male population will change the method used to remove body hair due to a new painless method. Psychographic Based on the Psychographic characteristics, the segments are defined by people who are concerned of using wax. As we know, wax causes pain and may cause damages to the skin, so it is essential to overcome those concerns. Considering this statement, the results on our survey show that people who voted that their major concerns were these ones were the ones who voted higher on the utility of this product. Behavioural Based on our sample we concluded that the majority of people shave within a month, 42% of the respondents. The total percentage of weekly and biweekly answers are practically the same within 27% and 24%, respectively. According to Behavioural characteristics, the segments are differentiated by the consumption of shaving products. Additionally, we also segmented our costumers based on where they usually buy their body hair removal products. For that particular segmentation we considered the people that buy them online, on retail stores and drug stores. Through the results of our survey, we conclude that most of our participants mainly buy their shaving products through retail stores like any supermarket, around 50% of overall answers. Targeting Which customers will our product serve? Market segmentation reveals the firm’s market segment opportunities. Now, we are going to evaluate the various segments and decide how many, and which segments it can serve us best. In the process of choosing the right segments, we have to look at 3 important factors: segment size and growth, structural attractiveness and company objectives and resources. As we are a new company, at an early stage we can´t choose the largest and fastest growth segment, because we may lack skills and resources to serve such segments. We will target segments that may be smaller, but will potentially be more profitable for us for being less competitive. We also need to examine major structural factors that affect long-run segments attractiveness. The existence of potential future competitors may reduce the attractiveness of a certain segment. After we choose the segments with the right size and growth and it´s structural attractive, we must look at our objectives and resources. Some attractive segments can be dismissed fast because they don´t mesh with our long-run objectives, or the lack of resources don’t allow us to follow that segment. Our main focus will obviously be people who consider that To Shave will be very useful, so one of the questions in our survey was about asking people whether they considered our product useful or not. For that, we used a scale between 1 and 7, being 1 not useful at all and 7 extremely useful. In this task, we will only consider participants to be interested in To Shave when the answer was 5 or more. With this condition, we can conclude that 538 people out of 600 answered 5 or more, which means 89.67% of those who answered the survey were interested in our product. According to the answers and to the segmentation we did before, we concluded that our main target will be mainly woman between the ages of 10 to 40 years old that already used wax and also to the ones that didn’t use it due to the pain that they feel. We’ve chosen this segment since 95.50% of woman who answered our survey did shave, mostly with wax, and only 80.50% of men shaved and out of those 80.50%, the percentage that used wax was very small, as we referred in segmentation. Our group age is between xxx years old because, must of the people who wax are within this age group. Although we didn´t get a very high percentage of answers above 50 years old, we concluded that from 60 years old people’s answers were very similar and the percentage of people who shaved, more particular waxed, was getting smaller and smaller with age. Positioning Market Positioning is how the company will influence the consumer perception regarding their product and brand in comparison to competitors. We want to position ourselves as a brand so when launching our products, we will offer a few samples to some beauticians in order that they can offer them to customers. This way we won’t only be getting a jump-start in promotion but also collecting data from consumers to find our position in the market. Competition is a very big threat to our product even though it’s unique in the beauty industry there are multiple shaving and depilating methods, and behind them big companies with the customer’s trust. This being said, some of our points of differences are in our completely vegan option, the invested customer service, multiple fragrance suited to everyone’s likes and more importantly you can now depilate without any pain whenever you want to. After a market study through a survey and some in person talks, we have all the reason to believe that our product will change the way people view shaving and depilating For our clients we want to guarantee that they have the best experience while depilating. In order to give them reason to believe and trust in our company we will continue to maintain a close relationship with them, give them a mean so that they can give us suggestions to improve their experience and keep offering the best possible product. Trabalho Realizado por: António Alves Nº150120188, Afonso Morim Nº150120108, Bernardo Vieira Nº150120158, Maria Franco Nº15020228, Maria Novaes Nº150120079, Ricardo Azenha Nº150120148 e Tiago Manana Nº150120198