TECHNOLOGICAL FEASIBILITY
T.1 Technological feasibility study to ensure optimal fabric performance: this task was performed in collaboration with a department of Eurecat, which is specialised in innovation related to textile. Together we designed a study to analyse the characteristics of our product and other products in a controlled environment. It also included the development of some specific tasks to confirm the technical and financial viability of the conceptual design, and detect possible improvements of the product and its materials.
Different materials and fibre structures have been studied to find the best option to accomplish the desired functionalities. While Cocoro’s actual solution is ready for the market, the study was designed to give us insights as to how the product can be further improved. The study included:
a) Definition of the requirements of the product
b) State of the art, benchmarking
c) Functional validation of the samples
d) Design of the conceptual proposal
e) Technical and financial viability of the conceptual design
More specifically, Eurecat conducted tests with:
1) a Cocoro sample as initially built;
2) a sample of a pad and;
3) other fibres in the market and new combinations of fibres.
PROJECT BUSINESS IDEA REVIEW
A general review of the business idea was carried out to address the other three tasks of the project: T.2. Definition of a commercialisation strategy, T.3. Market study to detect other potential sectors, markets and clients, and their needs and T.4. Study to ensure a successful commercialisation.
The project business idea review was structured as follows:
Part 1: the problem to be solved
Analysis of the main pains and gains of the clients, the market fit of the product, the description of the client and the value curve. Part 1 also included an analysis of the value chain and its main actors. The analysis was carried out through a value proposition canvas, qualitative interviews, a value curve workshop, an analysis of the potential market (desk research) and professional interviews.
Part 2: market quantitative analysis
An exploration of the market reality in Spain from the point of view of the consumers was carried out. We obtained significant numbers to be able to size the market while detecting behavioural and cultural tendencies of our customers. Also, interviews with stakeholders were carried out to better understand the sector.
Part 3: business model
This part of the project consisted in designing the complete Business Model, paying special attention to the production and distribution channels. With the help of an external group of consultants and after having interviewed some stakeholders of the sector, a Business Model Canvas was designed. This was done at the end of phase I of the SME instrument to be able to take into account all the results of the work carried out (market quantitative and qualitative study, segmentation, market needs, value proposition, among others).
Part 4: financial plan
At the end of the project, and after the Business Model was reviewed, an adaptation of the Financial calculations of the company was carried out. This task consisted in establishing a new plan and reviewing the projections of Cocoro according to the insights and decisions made during the process described above.
RESULTS
The technical study has provided new ways to improve our product in order to achieve extra functionalities (especially more absorption). It has also proven that our product is technically ready to reach the market for certain uses. While preparing the commercialisation of our product and brand, we will work in parallel to design new versions of the product to compete in new market segments. This will result in different versions of our product that will meet various user needs (actual product to address: vaginal discharge and light periods / new products to address: strong periods, light urine loss).
The business analysis has provided us with information regarding possible positioning and commercialisation strategies we could use for our product. With these findings, we have not changed the vision of the project but we have been able to better understand the needs of our potential users.
The main advantages of Cocoro Advanced Lingerie exposed during the proposal have been confirmed and will continue to be analysed every time the product needs to be positioned in a new market. These advantages are:
→ It reduces waste generation: it may lead to a reduction in the usage of disposable MHM-products and, therefore, a reduction of the waste generated by the products.
→ It provides an alternative for women that do not want or cannot use internal products.
→ It can be used on its own or together with internal products, as a complement.
→ It requires a minimum change of habits and no learning effort.
→ It is clean and comfortable
To this list, we have added three issues many women have mentioned as something they worry about:
→ Health: although the threat is not clear, there are many users that are worried to use internal products, try to avoid using them at night, or avoid using pads and panty liners to ensure breathability.
→ Breathability: many women feel breathability is an important attribute on its own, not just as a health factor.
→ Antibacterial: many interviewees mentioned they worry about the smell. Being antibacterial, Cocoro prevents the smell.
Regarding the commercialisation strategy, the studies carried out have shown that even though women buy on-line, for new products many prefer to see the product first. As a reaction to these findings we are studying new channels to commercialise the product and communicate with users.
With all these findings in mind and the strategic decisions taken throughout the process, we will continue to develop our business idea in order to be able to reach the market with guarantees.
