Needs/Wants Assessment
Needs and Wants of Target Market
The target market for Nugget includes mothers with children ages one to ten. Mothers want to have homes that are trendy, functional, and affordable, with decor and furnishings that promote the same attributes. They also want to satisfy the needs of their children while going about their hectic day-to-day lives. When buying furniture, they are looking for options that are stress-free and affordable. Preferably, the product would be high quality as mothers would rather make one large investment on a piece of furniture than to continually purchase over the years. They want a trendy option that will impress visitors and will look good in their home, while also being versitile enough to fullfil muliple functions.
Specifically, in terms of couch versatility, mothers are looking for an option that will satisfy all the many ways she will use it. She will read on her couch, watch TV, sleep, blog, lounge, and sit--and she wants an option that will accommodate the many ways she will need to use it. Mothers see their homes as a reflection of their families’ personalities, and it’s important for them to be able to portray that personality to the rest of the family and visitors.
Category
The category as a whole is performing very well, and it is a wise time to enter from a company perspective because of low operational costs and sales tax collection advantages. IBIS World’s Consumer Confidence Index predicts that there will be an increase in consumers’ likeliness to make large purchases. Homeowners are more likely to buy furniture, and it is predicted that the amount of homeowners will increase, which means that the amount of furniture that will purchased will increase as well.
However, different furniture types have already been defined, which leaves room for future companies to create innovative options on preexisting products. Nugget aims to do this by providing an unique and trendy seating option for children's furniture that is malleable to suit different seating and lounging needs.
How does Nugget aim to satisfy needs and wants?
Nugget will satisfy mothers’ needs for stress-free, easy and affordable furniture by providing a hassle free set-up experience. It takes a minute to set up a Nugget, and the individual pieces aren’t too heavy to move around. The malleability of the Nugget will also satisfy mothers’ many needs. They need an option that is malleable to their lives, and will grow with them and their families as they grow.
They will also provide them with a trendy, customizable option that their families will love, and an option that has the “it” factor for their friends and visitors to notice.
How is value created for both the audience and the brand?
Nugget’s most valuable role is to provide an easy to set-up, malleable, comfortable couch option for families to grow with, and provide them with the customizability to make it their own. They aim to contribute to their home environment in a positive way, and to alleviate stress from the lives of their consumers.
Nugget satisfies mothers’ needs for a trendy, durable, affordable, malleable, stress-free seating option for their families that is customizable and will grow with them throughout their lives.