Focus Groups / Surveys
Customer analysis was completed to identify the target customers for Wallco products and determine the customer needs. These tasks addressed Tasks 2, 3, and 5 of the Wallco work plan.
To determine the target customers, we prepared a questionnaire and conducted personal interviews with potential customers. The questionnaire was published on Facebook on the 21st of October, 2015 and disseminated locally with a 90 respondent sample size. Nine personal interviews were completed at three different locations in Ljubljana including the furniture fair “Ambient” 2015, an infant store Baby Center d.o.o. and a furniture store Lesnina d.d. These efforts aimed to understand the purchasing behaviour of consumers who are in the process of buying children’s furniture.
We asked questions to determine:
- The profile of our key customers
- The most valued qualities of furniture they were interested in
- How respondents link price with quality
- Information sources respondents use to collect information on furniture
- The level of trust in online shopping
- Who is the primary decision maker when purchasing furniture
The target customers were identified as being between the ages of 25 and 40 years old, who are planning to have children or those that already do. These customers are well educated with a Bachelor’s degree or higher and are environmentally conscious.
To determine the customer needs, two focus groups conducted with the University of Primorska were held.
An exploratory focus group was held to determine what features of Wallco products were the most desired and popular with targeted customers. Based on these results, a second focus group was held to introduce a Wallco prototype to users and assess their interest, opinions, and recommendations for future products. In the report of the exploratory focus group, the University of Primorska emphasized that the results indicate that the users want products that:
- Follow sustainable design principles
- Have an attractive design
- Have a high level of utility, are functional, and usable
- Are affordable
- Are made from renewable materials and can be recycled
- Are designed for durability
Based on the user input of the exploratory focus group, a fully-functioning Wallco prototype was created and six participants of the targeted consumer groups received instructions and the building elements of the Wallco product. Groups of two participants assembled the Wallco prototype products and afterwards had a discussion about their experience.
The main takeaways from the discussion were:
- Wallco products and construction provides a positive social event
- Creates a teaching and learning environment
- Promotes creativity in children and in parents through user-led design
- Construction is safe for all family members with no heavy or motorized tools needed
- Furniture has high functionality and can be adapted and changed to suit changing needs
LCA
The University of Primorska conducted a life-cycle-assessment of a selected Wallco product was conducted. The assessment was “Cradle-to-Gate”, accounting for the product’s impacts through its production, its service life, the end of life, and its reuse. This type of analysis will be used for all Wallco products to help guide our production methods and operations towards lower environmental impacts.
The completion of this assessment addressed Task 3 of the Wallco work plan by adding information to optimize prototype development and design.
Wallco Website
The Wallco website and online store is currently under construction and will be ready with the launch of the Wallco product line, addressing Task 4 and 7, by further developing the Wallco brand and creating a dissemination platform for news and user-feedback.
Market Analysis
As defined by the work plan in the first stage Wallco proposal, we have completed a market analysis of the furniture market as a whole in the EU, the Slovenian furniture industry, as well as the relevant market sizes for Wallco in domestic and targeted foreign markets. This analysis successfully completes Task 5 of the work plan.
Business Plan
A five-year Wallco business plan was created identifying the following key areas: Industry Analysis, Customer Analysis, Competitive Analysis, Market Plan, Operations Plan, Management Team, and Financial Plan.
It was identified that innovative, high-quality products and services will make Wallco and other SMEs successful when competing in domestic and foreign markets. Careful identification of target customer and their needs strengthened Wallco’s competitive advantage, particularly with implementing a user-led design feedback loop. With the scale-up and expansion of Wallco into targeted foreign markets, Wallco’s expected revenue is € 2,262,000 by the end of the first five-year period.
This completed Task 6 of the Wallco work plan.
