5 minute read
SWOT
MICRO
The Micro trends that apply to YourGoodSkin are Streamlined Products, Effortless beauty and Transparency. Streamlined products is combining products to create a unified product that performs more than one purpose. This trend applies to YourGoodSkin as their target consumer is a busy mum, who maybe more likely to look for skincare which is time efficient. When creating an innovative product, sticking to the streamlined trend should be a main focus as it suits the target market very well. Effortless beauty is the next micro trend. Effortless beauty is a newer trend that has formed from the now fad trend of glamorous beauty. It is creating a no- makeup makeup look in the beauty industry and this correlates with skincare. For YourGoodSkin promoting products that will give the results of clear even skin, as well as suiting a consumer who doesn't want to apply heavy makeup. It will help fit in with this trend. The last micro trend is Transparency, creating products where the consumer knows all the ingredients and also being cruelty free in the making of the products is now more important. Therefore YourGoodSkin needs to make sure they are clear about everything inside their products, and also where these products came from to keep up with their competitors.
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SWOT
> Has an affordable price range.
> Have an easy 3 step system which is a key aspect which consumers look for in a brand.
> They have a range of products that meet a lot of different skin concerns such as tackling oily skin. > The packaging does not stand out amongst competitors.
> What the product offers is not innovative or different.
> It does not fit in with the needs of the target audience, who may be seeking more anti-ageing products.
> The packaging does not include information on what the product will do and how it will benefit an individual.
> To update the packaging so it stands out more on the shelf.
> Better advertising of the product, so consumers know what it is and how it differentiates from competitors.
> Technology corporation to fit with current trends. This could be either: 1)Creating an app that tells consumers what product they need to use. 2)Updating the technology of the products.
> Address the target consumer better by creating a product range that fits into their busy lifestyle. This could be for a working mum or business woman/man.
> Address the trends of sustainability, being cruelty-free and veganism to keep up with competitors and expanding trends. > There is a high amount of skincare brands on the market selling the same product or within the same price range, YourGoodSkin need to differentiate from competitors to stay on top.
> They are not as recognisable as a brand compared to their many competitors are. Therefore, this could mean their competitors won't have the same trust that they would for the more established brands.
> Many consumers may need additional incentive to switch brands from which they are similar with as they may have been using these brands that work for a long time.
INNOVATION STRATEGY NPD ideas and shortlisting
IDEA GENERATION
A map mind of ideas was drawn out, for the consideration of a new potential product for YourGoodSkin. All ideas then went through the process of elimination.
The innovation process of developing a new product for YourGoodSkin is one that requires a number of steps, and streamlining of ideas to come to a final idea. At the beginning of this process, around 100 ideas were brainstormed, developed from current trends, innovations and existing products. From here, 100 ideas were then streamlined down to the 10 strongest ideas.
These ideas were justified as the top 10 on grounds such as the most innovative and most appealing to our target consumer. Similarly as before, 10 idea were then streamlined to 3, which is where a more thorough elimination process occurred. To help with the decision of the final idea, a survey was created and shared with skincare fanatics in Facebook groups, such as “YourGoodSkin Community”, and “Caroline Hirons Skincare Freaks”. This survey consisted of an explanation of the final 3 ideas, and questions about what the consumer thoughts of these. Sharing this survey with skincare fanatics allowed a close look at the aspects that consumers are looking for, aiding the final selection of the new product development. Similarly to this, it was at this stage of streamlining that a focus group was conducted with 5 mums who fitted the target consumer. This provided opinions from mums and women who would be likely to use the final three products, and their thoughts as to how they would fit it into their lifestyle. Upon analysis of the survey, and understanding of the focus group interviews, it became clear which was the strongest of the 3 ideas, which was then further developed into the final product.
Movement
Idea 1 is a movement activated booster which works like a facial in a bottle. The active ingredients in the booster are triggered by heat and natural moisture produced by the skin. Examples of when this could be used are in the gym, on the school run, or walking to work. This product has been developed with the intention of saving time for the user, still allowing a luxury treatment to be fitted into a busy lifestyle.
The idea
Key Insight
Who would be the target audience
Key benefits and how it works
What makes it different to other products on the market
Movement Activated Skincare Facial.
On the go mothers have a small window of time to dedicate to themselves and don’t have time to go to a spa and get a facial.
On the go mothers.
The movement activated facial is designed to renew stressed, dull skin with energising, detoxifying actives. The ingredients are activated by moisture and heat.
There are products on the market that are to be used before or after exercise but the market is yet to see products physically triggered by heat, moisture and exercise.
