Background
For my Product & Brand Management class we were tasked with investigating new revenue generation opportunities for a brand. The scope of this project included identifying the problem, formalizing the target market, conducting market research customer attributes, developing an integrated market communications plan and proposing a go-to-market launch strategy.
Problem
Netflix is the company that brought binge-watching to life and started a revolution in the streaming service industry. When a customer is watching content for hours they tend to get hungry and need some munchies. There are way too many snack options at grocery stores and customers waste time choosing the right ones.
Netflix started as a DVD distribution service and still has 17 underutilized warehouses that are still operational. The cost-benefit analysis points out that this model isn’t sustainable in the long-run, especially due to the streaming wars with so many companies entering the market.
We decided to combine these two pain points into one single solution that helps both the customers and the company.
Solution
Introducing NETSNAX — an automated snack delivery service that curates items based on content preferences of customers. Our target market is consumers between 18-35 years of age, that are single. This product has a total addressable market (TAM) of $171 B/year and with an initial investment of $144M.
Features:
- Catalog based on combination of gourmet and mainstream items
- Snack profile and flavor profile developed based on signup survey and content consumption machine learning algorithm
- Retool underutilized warehouses for distribution channels
- Omnichannel marketing strategy utilizing all media forms
- Three stage launch plan with beta testing using selected super-fan customers, a NYC launch during Halloween, and a national launch during Easter, since those are the most popular snack-buying times in the U.S.
