Forming An Opportunity Belief

Marcus Manzoni

ENT3003

January 28, 2020

Forming an opportunity Belief

1. My belief is that there is a better way to make razors more durable and last longer.
2. The unmet need is that there isn’t an easy way to sharpen razor blades and make them last. This need is targeted to men and more specifically targeted to men who feel the need to shave; however, some women who also choose to shave often may be targeted as well. This need has existed since the invention of household razor blades, and although the blades are becoming sharper and more durable, blades are only expected to be good for about a week (5-6 shaves depending on strokes required). To meet this need now, people often buy new quality razors/blades when their old one becomes dull, buy cheap disposable razors and/or subscribe to a shaving product service to receive new products monthly. As of now I am 75% sure that an opportunity exists regarding this unmet need/problem.
3. 
   
1. A prototypical customer is a middle class male who shaves often.
2. A prototypical customer is a middle class male who shaves with blades/razors often
3. A prototypical customer is a lower-middle class male who shaves with blades/razors often and can’t afford a monthly subscription
4. 
   
1.  Iteration 1: My interviewee believes that the nature of the need stems from the lack of durability of current razors/blades. He had become aware of the need shorty after he began shaving when he was 14 years old and he experience this need only sometimes because he choose to let their beard grow out and then maintain. He has experienced the need for 10 years now, but it isn’t a pressing hassel for them personally because he has become more accustomed to shaving with electric razors and other grooming devices. If he decides to go back to using non electric razors more often then he would definitely consider buying a product that addresses the need for longer lasting razors.
2. Iteration 2: My second Interviewee also agrees that the nature of the need comes from the lack of durability in current razors and blades. He had become aware of the need as soon as he began shaving at the age of 15, experiences the need every time he goes to shave and has had the need for 15 years. In order to be presentable for his job of being a lawyer, he shaves almost everyday and experiences blades becoming dull by the week. He is currently addressing the need by being subscribed to the popular shaving kit service Dollar Shave Club and he currently receives razors and other grooming products on a monthly basis. When mentioning a product that would address the issue of having to buy new blades every month or sooner, he was on board with the idea. He would rather extend the life of one blade then have subscribe to a service for new blades every month. However, he also mentioned that Dollar Shave Club offers other products as well and that he enjoys receiving the plethora of items.  
3. Iteration 3: My last interviewee, just like the previous two agrees that it’s annoying that blades/razors get worn out and go dull so quickly. He had become aware of the need when he first began growing facial hair at the age of 13 and has always preferred a clean shaven look. Unlike the previous interviewees, he often addresses the need by buying cheap disposable razors and new blades for his better razors. He is not too fond of having to change the blades and definitely prefers not to use the cheap disposable razors because they don’t do a good job and feel uncomfortable. He has considered joining a shaving kit service but its too expensive to keep up with. When I mentioned the solution of extending blade and razor life, he was very in favor of the idea and would definitely buy one if the price wasn’t too high. 
5. 
   
1. Reflection 1: I learned that for even the people who shave often, many like to use electric razors instead of blades because of their durability. 
2. Reflection 2: I learned that an opportunity exists to take customers from shaving subscription services which is a plus, but some people would prefer to continue getting fresh blades with their other products as well on a monthly basis.
3. Reflection 3: I learned that price really matters on a product like this when there are cheaper solutions out there.
6. Repeated steps in 3,4,5
7. Summary: I believe there is still a great deal of opportunity with this unmet need. All three men I talked to agreed that they would be in favor of a product that extends blade life. The upside to this is that there may be a larger target market than anticipated; however, the opportunity seems less accurate because the three people I asked had different lifestyles and shaving habits. For a more accurate opportunity I feel like I would need to ask more men about their preferences and shaving habits. I think adapting is essential for entrepreneurs because ultimately the customers are the ones purchasing the product and if they prefer a change that would make them more inclined to buy the product, the entrepreneur should really take that into consideration and identify whether it is feasible.