No Strings Attached
Class: Principles of Design (EID 103)
Year: Spring 2017
Goal: Create a business model for a product or a service to solve a real world problem, conducing interviews and research
FEATURES
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Functioning minimum viable product (MVP)
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Costs only around $15 to create one product, can be sold for at least $100
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Conducted a total of 130 interviews
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Size of opportunity of at least $106.3 billion
VIDEO
Technical Details
To tackle a common problem of excess wires that are loose, dangerous, easily damaged, and unnecessarily bulky, "No Strings Attached" was created to provide a convenient, wire-free way of charging for users. Each week, at least 15 interviews were conducted to ensure that the product does satisfy the needs and alleviates the pains of the customer segment. A total of 130 interviews (121 in-person, 9 online) were conducted, recorded, and analyzed. Lean Launchpad was used to create, update, edit, and refine the Business Model Canvas, and also to record interviews and validate the BMC.
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Each part of the BMC was evaluated weekly. For example, the final customer segment was refined from everyone who has an electronic device to be affluent working mothers in their 20s - 40s, who has a purse. Having a narrow, specified customer segment was beneficial as the needs and the wants, the pain and the gains of the customer segment was easily identifiable. A MVP of"No Strings Attached" was then designed to be a purse pocket insert, so that it is easily accessible, portable, and lightweight. It also alleviates the pains of wires and all the problems associated with them.
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