Business Analysis: The Nusmetics Case
Following the example presented by Kim and Mauborgne (2005), Figure 4 represents a Strategy Canvas. At that chart, ‘Convenience’ was split into ‘Difficulty of use’, ‘Side effects’ and ‘Pain or discomfort’. Also, ‘Price’ factor was added to the analysis as Nusmetics intends to offer its product at an intermediate price compared to existing solutions.
10 DETERMINE THE CUSTOMER’S DECISION-MAKING UNIT
At Nusmetics case, the person who wants the customer to buy the product, the end user, and the primary economic buyer are all concentrated in a single person: the woman who is unhappy with her cellulite. She is the one who does not feel comfortable with the problem, reason why she would be interested in acquiring the product. At the same time,
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Although those steps may seem simple, Nusmetics can only sell its anti-cellulite thigh bands if regulatory agencies give their authorization. Because Nusmetics microneedles are a brand new sort of cosmetic, regulatory agencies would likely demand more information concerning safeness and effectiveness.
Nusmetics team researched about that subject and they found out that each country has its own regulatory rules. At most severe cases, it is necessary to prove through simple tests that the product is safe and that it is not a drug or a medical device, but a cosmetic.
For example, in European Union countries, according to Regulation (EC) No 1223/2009 of the European Parliament and of the Council of 30 November 2009 on cosmetic products, any product which reaches the dermis, an intermediate layer of skin, cannot be considered a cosmetic. Furthermore, the product must not claim to cure or to eliminate any sort of skin condition, but only to improve skin appearance. Finally, the product must not have any drug ingredient in its
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Because it would be just starting, the group would try to be the leanest possible, spending moderately on marketing and distribution channels. This way, Nusmetics would initially only sell its microneedles online and it would not make huge investments in promotion as it would mainly work on word of mouth marketing. In the future, when sales reach large scale, it is likely the team will consider other channels, such as physical retail, as well as other promotion
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