yangkey hevizi, prathmesh patel, tenzin meriwether morris ... · 02/04/2020  · recommended target...

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Client Update Presentation Meriwether Morris, Lee Evans, Nikki Hevizi, Prathmesh Patel, Tenzin Yangkey

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Page 1: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

Client Update Presentation

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

Yangkey

Page 2: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

Findings from Product Use Journals

Simple adjustments:

- Directions- Target Market Positioning- Price Point

More deep-rooted adjustments:

- Product Design- Material Composition

Page 3: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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

Page 4: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

Studied Target Market: Existing Meditator Community

Page 5: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

Plan Design for Customer Discovery

1. Attended several mindfulness/meditation classes on Duke’s campus.a. Moments of Mindfulness: Flower Powerb. Moments of Mindfulness: Meditationc. Moments of Mindfulness: Buddhist Meditationd. 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

Page 6: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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

Page 7: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

Existing mindfulness tools

Zafu (meditation pillow)

Tibetan singing bowls

Meditation bench

Mala beads

Meditation Apps

Wooden fish (for chanting)

Page 8: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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.

Page 9: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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.

Page 10: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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

Page 11: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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”

Page 12: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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!

Page 13: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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

Page 14: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

Traditional Meditation:

Sacred and SpiritualBuddhist Philosophy

Meditation as a Trend:

Science of Meditation & the BrainConvenience of Meditation

Stress Management

Target Market Recommendations

OUR PROPOSED TARGET MARKET

Page 15: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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-agedb. Whitec. Femaled. College-educatede. Living in the Western United States.

3. Personality Qualities:a. Wellness-oriented & values self-careb. Conscientious

Plan → Capture those users who are dissatisfied with apps and digital screens.

Page 16: Yangkey Hevizi, Prathmesh Patel, Tenzin Meriwether Morris ... · 02/04/2020  · Recommended Target Market Demographics 1. Size: a. ~20% of the number of meditation app downloaders*

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-acquisition/

https://blog.calm.com/about