Client Update Presentation Meriwether Morris, Lee Evans, Nikki - - PowerPoint PPT Presentation

Client Update Presentation

Meriwether Morris, Lee Evans, Nikki Hevizi, Prathmesh Patel, Tenzin Yangkey

Findings from Product Use Journals

Simple adjustments:

• Directions
• Target Market Positioning
• Price Point

More deep-rooted adjustments:

• Product Design
• Material Composition

Studied Target Market: Existing Meditator Community

Cohorts of this market that we have access to at Duke:

• Duke Buddhist Meditation Community
• DuWell Moments of Mindfulness
• DuWell Guided Meditations
• Koru Meditation Classes

Studied Target Market: Existing Meditator Community

Plan Design for Customer Discovery

1. Attended several mindfulness/meditation classes on Duke’s campus.

a. Moments of Mindfulness: Flower Power b. Moments of Mindfulness: Meditation c. Moments of Mindfulness: Buddhist Meditation d. Spoke with leaders & participants in each

2. Conducted pointed interviews with class attendees regarding mindfulness and potential of the Hydrean 3. Synthesized findings and drew conclusions

Learnings: Current Meditation Practices

• Areas of study for existing meditators: Psychology, Global Health,

Biomedical Engineering, Biology, Neuroscience

• Range of current mindfulness practice: meditation group, meditation app on

the bus, gardening, spending time in nature, yoga, deep breathing, devotional practice - bowing & chanting

Existing mindfulness tools

Zafu (meditation pillow) Tibetan singing bowls Meditation bench Mala beads Meditation Apps Wooden fish (for chanting)

Feedback for the Hydrean

Struggles with Current Practice:

• Doesn’t keep you engaged
• Meditation apps are repetitive and become boring
• Often have to pay for premium content.

Feedback for the Hydrean

Benefits & Suggestions:

• Potentially multiple ways to use the Hydrean
• Seems interesting to play around with
• The uneven interval sizes feel awkward
• Better cord would be nice
• Play around with material composition/colors.

Feedback for the Hydrean

Positioning the Hydrean:

• As a physical anchor to ground your meditation practice or

use while counting breaths

• Compared it to a fidget spinner or stress ball
• A physical reminder to meditate

Intriguing comments:

“If I paid $40 for a mediation product, I would expect it to come with a book or an extensive journal..” “Gold is flashy… but brass is grounding.” “I feel conflicted with the idea of commercializing mindfulness practices”

Problem Identification

What problem or issue does the Hydrean address and how?

I hate looking at a screen!

I don’t want my meditation to take me out of the moment!

a. “Tired of looking at a screen to meditate?” b. Make use of Google Ads with keywords relating to meditation app struggles c. Send YouTube micro-influencers free Hydreans to do reviews with kickback.

Positioning

Traditional Meditation: Sacred and Spiritual Buddhist Philosophy Meditation as a Trend: Science of Meditation & the Brain Convenience of Meditation Stress Management

Target Market Recommendations

OUR PROPOSED TARGET MARKET

Recommended Target Market Demographics

1. Size: a. ~20% of the number of meditation app downloaders* -> ~20 mil 2. Demographics: according to the NIH, meditators are more likely than non-meditators to be:

a. Middle-aged b. White c. Female d. College-educated e. Living in the Western United States.

3. Personality Qualities: a. Wellness-oriented & values self-care b. Conscientious Plan → Capture those users who are dissatisfied with apps and digital screens.

References

https://nccih.nih.gov/research/results/spotlight/three-types-of-meditation https://techcrunch.com/2020/01/30/top-10-meditation-apps-pulled-in-195m-in-2019-up-52-from-2018/ https://techcrunch.com/2018/09/04/meditation-app-headspace-bets-on-voice-and-a-i-with-alpine-ai-acqu isition/ https://blog.calm.com/about