4A Consumer Evaluation of New Product Opportunity

I believe there is an unmet need for high quality drugstore nail polish options. Currently, many drugstore nail polish brands chip within 24 hours of being applied to the nail. This can lead consumers to feel painting their own nails is not worth their time and effort, nor is it worth their money for the poor quality product. I believe I could provide a nail polish that is a drugstore nail polish bottle, but that applies and lasts like a salon gel polish. Consumers who currently spend a lot of money on getting gel nails at salons, consumers who frequently paint nails but have it chip, and people who may not often paint their nails because of chipping nail polish may be interested in this product. For years, I have heard many girls complain about chipped nail polish and how that is the reason painting their nails is not worth their time so this need has been unmet for a long time. While many companies claim to make a durable gel polish, the polish applies like other nail polishes and still chips just as quickly. While some may find it worthwhile to use these subpar products just to save the time and money of going to the salon to get their nails done, these consumers still deserve better products and are aware of that fact. It is because of the awareness of needing better nail polish options from consumers that I am 65% sure there is an opportunity here.

#1 College Female Who Frequently Paints Her Own Nails

• Do you often use nail polish?
• Yes, about three times a month.

• Do you typically paint your own nails or do you get them done in a salon?
• I paint my own because I can't afford the time or cost of going to a salon.

• Did you know it can cost an average of $1,300 a year to consistently get your nails done in a salon?
• I didn't know, but I am not surprised. Salons are expensive.

• Did you know it would only cost an average of $500 a year to consistently paint your own nails?
• I actually did not realize it was that much a year, but I guess that sounds right.

• Did you know it also would save an average of 78 hours a year to paint your own nails instead of going to the salon?
• I didn't realize it would save so much time, but that definitely makes sense. The one time I went to the salon, it took about two hours.

• What are some problems you have experienced with painting your own nails?
• It takes time to paint them and have them dry. Plus the nails sometimes get messed up before they are dry or chip really quickly, which is frustrating. I also don't do patterns as well as a salon could.

• Do you think you would use a drugstore nail polish to paint your own nails if you could get a gel product that is salon quality?
• I would definitely give it a try.

Reflection: Young people who frequently paint their own nails already would probably be the main consumer of this kind of product. Young people typically stay trendy and want what is done in salons, but due to being young and in college, do not have the budget to get that level of service. Also, young people are typically more willing to try something new with an open mind. People who frequently paint their own nails are also more likely to have fewer objections to the process of painting nails so their main concern would be more so chipping nail polish, which this product would address. However, what I did not consider was concerns regarding drugstore nail polish outside of the quality of the product itself such as salons being able to provide professional pattern designs that a salon quality gel polish would not address.

#2 Middle-Aged Female Who Frequently Goes to the Salon

• Do you often use nail polish?
• Yes, I go to the salon once a week.

• Do you typically paint your own nails or do you get them done in a salon?
• I go to the salon, I do not have time to paint my own nails.

• Did you know it can cost an average of $1,300 a year to consistently get your nails done in a salon?
• I did not, but that makes sense when I think about how much each visit costs.

• Did you know it would only cost an average of $500 a year to consistently paint your own nails?
• No. I do not really think about prices.

• Did you know it also would save an average of 78 hours a year to paint your own nails instead of going to the salon?
• No, I had no idea so much time could be saved...

• What is stopping you from switching to painting your own nails?
• Well, it had been to save time, but from what you are telling me, I would have to say it is just not having to worry about waiting for my nails to dry, and being able to have the full salon experience.

• Do you think you would use a drugstore nail polish to paint your own nails if you could get a gel product that is salon quality?
• I do not think I would. I enjoy going to the salon for the entire experience, and to make sure the nails are painted professionally. I wouldn't trust myself to paint them properly. 

Reflection: I thought someone who was used to getting their nails done and paying such an expensive price every time may be open to switching to a less expensive, yet still salon quality product. However, after this interview I realized someone middle-aged who is very used to getting the full salon treatment would likely not be a prototypical consumer. This group of people may try the product, but overall they go to the salon for the experience, not for the sole purpose of having their nails painted, and are most likely used to their routine and would not want to change it.

#3 College Female Who Occasionally Paints Her Nails

• Do you often use nail polish?
• No.

• Do you typically paint your own nails or do you get them done in a salon?
• If ever I paint them, I do it myself.

• Did you know it can cost an average of $1,300 a year to consistently get your nails done in a salon?
• No I didn't.

• Did you know it would only cost an average of $500 a year to consistently paint your own nails?
• I thought it would be less than that actually.

• Did you know it also would save an average of 78 hours a year to paint your own nails instead of going to the salon?
• I figured it would be something like that.

• What are some problems you have experienced with painting your own nails?
• It just takes too long to dry. Plus it hardly ever lasts long so it isn't worth all the effort.

• Do you think you would use a drugstore nail polish to paint your own nails if you could get a gel product that is salon quality?
• Eh, maybe. It would make the effort worth it, but it would probably still take too long to paint them.

Reflection: This might be a person who would buy the product, but due to the fact that the main concern is how much effort it takes to paint nails, and not so much the quality of the product, they may not paint their nails enough to be a frequent purchaser. However, when they do decide to paint their nails, they would likely choose this product.

SUMMARY

After conducting my interviews, I realized there may not be as big a market as I thought originally. I do still believe there is a market for it, but it will just be the market currently buying drugstore nail polish, which will most likely not include those currently going to nail salons. Some people may continue to simply not paint their nails or continue spending their money at nail salons, but there is certainly a good number of consumers who would enjoy a step up in drugstore nail polish that could last without chipping and make their nails look as nice as salon nails. I would say that after conducting these interviews, there is a 55% opportunity here because the market is smaller than I originally thought, and the consumers that would be the target market of this product will have to choose between many different drugstore nail polish brands. Also these interviews made me realize concerns outside of just the quality of the product are present as well, but would not be addressed by this product.

I definitely think entrepreneurs should adapt their product based on the market feedback because the product needs to satisfy the actual needs of the consumer in order to be successful. Consumer feedback is crucial and will signal to entrepreneurs what the target market of their product is and how to advertise said product, as well as how to create the product in a way that is useful to consumers. Entrepreneurs need to be adaptable in order to fit the needs of their consumers otherwise their product will not sell.