Utopia

Oshita Singh (102088016), Sunpreet Kaur (101908121), Neel Deshmukh (102088017), Tejaswi Bajaj (101908108),
Raghav Khullar (101908107), Manan Kapoor (101908233)
 Title: Date:
Opportunity Canvas Iteration:

Users & Customers Problems Solution ideas User Value User Metrics
What problems do prospective users and List product, feature, or enhancement What specific user behaviors can you
What types of users and customers have the
challenges your solution addresses?
customers have today that your solution ideas that solve problems for your target How will users get value measure that will indicate they try, adopt,
addresses?

MOSTLY CUSTOMERS ARE FEMALES.

audience.

using your solution? use, and place value in your solution?

AGE GROUP-: 12– 45 YEARS

1. Unusable and can’t try
1. AUGMENTED REALITY: It makes If your target audience has your solution, 1. The most immediate way to
shopping fun again, allowing online what will they do differently as a
2. Fake Sites consequence? And, how will that benefit track your customer’s product
consumers to have in-store like
3. Local Trading experiences that entertain, engage, them?
usage is through license
educate and convert lookers into 1. The customers can try products online utilization.

4. Delivery charges.
buyers. The ability to visualize a virtual and check whether it is compatible for
representation of products in 3D, to their skin.

scale and in their intended
environment, enables shoppers to
make better judgments, removing the
need to measure and verify
dimensions.
2. Relatively less expenditure when
compared to shopping from other
stores.
2. You can track overall usage as
well as time spent using specific
product functions both across

2. DERMATOLOGIST CONSULTATION: and within accounts

Solutions Today
How do users address their problems
today?
body products.Dermatologists and top
levels of trust in a useful way.
1. There is no solution for online trial for
1. Providing an omni-channel
products till now.
These humans are major part of our
grooming and cosmetic accessories as
they suggest us the best skincare and
and adopt your solution?
beauty experts to put together a list of
some of the best skincare tips.
Adoption Strategy 3. It can be difficult to quantify
How will customers and users discover
You can, however, measure the
frequency and content of
Experience

2. Assured products are sold , trying to 3. REDUCED DELIVER COSTS: leverage 2. Building a Network Community
customer responses to
minimize fake products. flat rate shipping manage your supplies quarterly business reviews
3. Content Marketing

consolidate your accounts.

3. No solution to reduce delivery cost. 1.YouTube marketing
(QBR) and campaigns and chart
2.Platform marketing
the success rates of support
3.Social Media Optimisation
cases.
4. By creating campaigns

Business Challenges Budget Business Benefits and Metrics

How do the customers’ and users’ and their challenges above impact your business? If What might it cost your organization if you What business performance metrics will be affected by the success of this solution?
you don’t solve these problems for your customers and users, will it hurt your business? don’t create this solution? What might your These usually change as a consequence of users actually buying and using your solution.

How?
organization earn or save if you do? Given
that, what would your organization budget Net promoter score – Since our technology would
1. Technology- As we know, new technology keeps to create this solution?

be new and first .In virtual makeup domain, it would

emerging every now and then, making investment 1. Series A investment: $2M

2. Salaries spent in a year: $317K

make customers gain our trust and would eventually
in it very challenging. 3. Rent and other Opex: $680K

4. Revenue in Q1: 800K

help in its promotion.
2. Competition 5. Revenue in Q2: 4.3M

3. Potential entrants. 6.
7.
Revenue in Q3: 10.9M

Revenue in Q4: 4.0M

8. Total revenue in a year: $20M

Download at:  http://jpattonassociates.com/opportunity-canvas/

Solutions Ideas
 Solutions Ideas
Augmented Reality

1. Augmented Reality has been featured in the news as the best new feature
and the future of the retail industry. It makes shopping fun again, allowing
online consumers to have in-store like experiences that entertain, engage,
educate and convert lookers into buyers.
2. The ability to visualise a virtual representation of products in 3D, to scale
and in their intended environment, enables shoppers to make better
judgments, removing the need to measure and verify dimensions.
3. Further once they have made their determinations, they may either buy
directly online or go to the store to complete their purchase.
 Solutions Ideas
Dermatologists & Assured Products

• These humans are major part of our grooming and cosmetic accessories as they
suggest us the best skincare and body products
• Dermatologists and top beauty experts to put together a list of some of the best
skincare tips. From choosing the right cleanser for your skin type to the
importance of cleaning your makeup brushes, these easy tricks — plus some
top-tested product picks.
• Quality does not merely mean the goodness of a finished product. Of course, the
quality of a finished product is the ultimate objective of a company. However, in
order to achieve the desired quality in the finished product, it is essential that
the whole plan, starting from the purchase of raw materials to the stage where
the ultimate product reaches the consumers, has to contribute towards
building quality into the product.
 Solutions Ideas
Reduced delivery cost

• Leverage flat rate shipping All major shipping companies offer flat rate
options, which are great for standardising the process and helping ease the
variability normally associated with shipping costs. We should be sure to speak
with your representative and understand and compare the pricing before you
decide to use them.
• Manage your supplies Packing supplies, like death and taxes, are one of those
miserable realities for entrepreneurs. There are large and incredibly effective
companies that focus only on shipping supplies.

• Consolidate your accounts Because shipping rates are often based on volume,

it benefits you to ship as much product on your account as possible. This
includes incoming shipments of supplies and raw materials. When possible, we
should ask our vendors to ship product on our account, which many will do.
Problems
 Problems
Unusable and can’t try

❖It is absolutely true thing that the customers can’t try these grooming
products. They have to just flash the products by just imagining how much
useful these would be if we buy them and nothing else.
❖They just make us feel appealing in front of our vision but that not the real face
of what we get in our hands when we buy them. That’s the major and serious
issue consumers face after.
❖Sometimes the customer reviews are so captivating and sometimes they are so
off-putting that are enough to put the customers in such dilemma. Hence, it
serves a major drawback factor.
 Problems
Fake Sites

➢It’s not the hidden fact that sometimes we come across many fake sites with
their false cosmetic products while surfing on the internet.
➢Further this fact often misleads to buy the products and which makes to trust
on other valuable sites which are also in the race.
➢These sites market the products at very low price range than the original
price that brings a major drawback.
 Problems
Local trading

• Sometimes, it leads to competition between the online shopping and local

markets, which makes difficult to understand which one lags the race.
• We just become so fantasising about the e-commerce products that
overpower local products due to which we don’t bother to compare the
margin differences between both.
 Problems
Delivery Charges

♦ It’s a general fact about the delivery charges, that sometimes they are so
unbearable that resists us to limit our shopping cart.
♦ Some international sites are advanced at the delivery prices that we
can’t choice on our shopping brands.
 Users &
Customers
What types of users and customers have the
challenges your solution addresses?

• Mostly customers are females in age group 12 - 45 years.

• Traditional consumer: This is the person who normally goes

to a perfumery reads magazines and buys foundation, eye
and lipstick products.

• Beauty addicted: This is the customer that spends much of

his\her time consulting blogs and tutorials, almost in a state
of competition with other addicted customers in learning
the latest news and rushes to buy the latest products
regardless of actual needs. This is the “fashion victim” of
cosmetic products and could be considered a lead user, in
terms of understanding the use, positioning, and appeal of
a new product.

• Beauty expert. This is a professional makeup artist either

because of his\her career or because of a strong passion in
the industry.

• New entrant. This is a consumer that begins to put on

makeup when becoming an adult, starting from word of
mouth, showing increasing curiosity towards these
products and finally experimenting with them.
Solutions
today
 Solutions today
How do users address their problems today?

• There is no solution for online trial for products till now.

• Assured products are sold , trying to minimise fake products.

• No solution to reduce delivery cost.

User value
How will users get value using your solution?
 User Value
If your target audience has your solution, what will they do differently as a consequence? And, how will that
benefit them?

• The customers can try products online and check whether it is compatible
for their skin

• Relatively lesser expenditure when compared to shopping from other

stores.
User Metrics
 User Metrics

1. Is the Customer Using the Product?

Once the customer enters the adoption phase, you want them to start seeing value as soon as
possible. And to achieve value, they must be incorporating your product or service into their
everyday working lives. Regularly monitoring customer uptake is the easiest way to tell if your
customer understands and is happy with your product.
Metrics: The most immediate way to track your customer’s product usage is through license
utilisation. It’s a simple measurement of the difference between the number of active daily users in
an account and the total number of licenses purchased.
2. Is the customer getting value from customer?
Customers achieve value when they maximise the features and functionalities of your offering
within their unique environment. Knowing, for instance, that your customer is regularly accessing
only three of four key features produces a behaviour-based opportunity to foster direct engagement
and a more rewarding customer experience.
Metrics: An engagement score for the breadth of customer engagement provides a broad insight into
your customer’s use of your product. You can track overall usage as well as time spent using specific
product functions both across and within accounts. You can use this metric to effectively monitor the
uptake of both existing and new functionalities in response to direct campaign engagement. For
example, you could directly monitor the movement of engagement rates following a new launch
campaign or different renewal messaging.
 User Metrics

3. Is the Customer Enjoying a Positive and Trusted Relationship with Your

Company?
A key component of driving lifetime customer value is building and maintaining a trusted
relationship. Using the data insights from a customer success platform and adopting a customer-
cantered approach across your business should enable you to maintain an active dialogue with your
customer which, in turn, generates more customer information to shape future engagement.
Ultimately, the best way to build trust with a customer is to deliver valued ROI. You can keep that
priority at the forefront by consistently engaging customers with goal setting and achievement,
reminding them of their progress, and employing targeted campaigns.
Metrics: It can be difficult to quantify levels of trust in a useful way. You can, however, measure the
frequency and content of customer responses to quarterly business reviews (QBR) and campaigns
and chart the success rates of support cases.
Adoption
Strategy
 Adoption Strategies
• Providing an Omni-channel Experience As we live in a world in which we can order groceries, shop
for clothes, buy books and complete our demands at just the click of a button. A major issue that users
face while buying beauty products online is that they aren’t able to “try” the products on. Users can’t
gauge whether the cosmetics suit their complexion. We can serve this channel by providing an omni-
channel experience that has helped this e-commerce platform alleviate the most pressing user pain
point. We can allow users to try on brands like XYZ which doesn’t have retail outlets in India. They
have also provided its customers to shop their favourite brands using a phone or laptop, or if the
customer is confused, they can just visit their stores and try it on for themselves.

• Building a community we can build a community wherein users can converse, share ideas and tips,
get inspiration, learn and watch new tutorials. By adopting this strategy, we can build the best
strategy to retain the customer base and attract new ones also we can serve both rich and middle-
class people. Offline presence in two store formats:

• Luxury

• Trend
 Adoption Strategies
• Content Marketing

• YouTube Marketing To engage with the audience through videos, we can own a YouTube channel and
provide the consumers with the latest and the best video guides for using beauty and wellness
products, and makes people aware of latest trends in the society. With a range of “how-to videos”, they
help the users and customers in choosing the right products as well as in using them in the right way.

• Platform Marketing be it our website, or our mobile application, we can design both aesthetically to
grab the audiences’ attention. Huge importance on brand positioning through the website- this means
that fresh and updated content is always available for the target audience. The brand runs blogs,
guides, targeted ads on its main platform to increase online sales.

• Social Media Optimisation As an online eCommerce platform, we can establish a strong social
presence and can leverage various social media platforms for its lead generation. By using the
following platforms – Facebook, Instagram etc.

• By creating campaigns some popular campaigns

• #WhatMakesYouBeautiful ft. Laxmi Agarwal by Nykaa

• Women’s day special

Business Problems
 Business Problems
How do the customers’ and users’ and their challenges above impact your business? If you don’t solve these
problems for your customers and users, will it hurt your business? How?

• Technology As we know, new technology keeps emerging every now and then,
making investment in it very challenging.

• Competition

• Potential entrants
Business metrics
 Business Metrics
What business performance metrics will be affected by the success of this solution? These usually change as a
consequence of users actually buying and using your solution

• Net promoter score – Since our technology would be new and first .In
virtual makeup domain, it would make customers gain our trust and
would eventually help in its promotion.
Budget
 Budget
What might it cost your organization if you don’t create this solution? What might your organization earn or save
if you do? Given that, what would your organization budget to create this solution?

• Series A investment: $2M

• Salaries spent in a year: $317K

• Rent and other Opex: $680K

• Revenue in Q1: 800K, sold 4000 products with an ATV of 200

• Revenue in Q2: 4.3M, sold 43,750 products with an ATV of 98.2

• Revenue in Q3: 10.9M, sold 100,000 products with an ATV of 109

• Revenue in Q4: 4.0M, sold 43,000 products with an ATV of 93

• Total revenue in a year: $20M