Question

Launched on the crowdfunding platform Kickstarter by manufacturer Subminimal, their product the NanoFoamer PRO "is a first-of-its-kind appliance for preparing premium microfoam milk at home. It's the easiest and most satisfying way to create premium textured foam. And it does it all by itself in the same amount of time it takes you to pull an espresso". So far, the NanoFoamer PRO has been a massive hit on Kickstarter, accumulating more than €500.000 ( almost AED 2,000.000). Therefore, it is certainly not inconceivable that the product will be manufactured and launched on a large scale. Scrutinise Subminimal's marketing endeavors by applying what we learned during our Marketing Management course. Your first step will be to determine and develop what should be Subminimal's value proposition in your opinion. Determining and developing your value proposition 1. a. Who could be interested in this product? First, you are going to identify and outline 2 market segments that operate in this fragmented market. Make sure to document the i) psychographics, ii) demographics, iii) geographics, and iv) the segments' behavioural patterns of these 2 market segments. Substantiate each of the segments that you have identified by referring to both a piece of qualitative data and a piece of quantitative data that you have come across during your market research

Answer 1

The value proposition for Subminimal's NanoFoamer PRO is to offer a convenient appliance for creating premium microfoam milk at home. Two potential market segments for this product are coffee enthusiasts who value the quality and taste of their coffee and home baristas who enjoy experimenting with different coffee recipes and techniques.

Step-by-step explanation:

Subminimal's value proposition for the NanoFoamer PRO is to offer a convenient and efficient appliance for preparing premium microfoam milk at home. This product appeals to coffee enthusiasts and home baristas who want to replicate the quality of textured foam found in cafes.

The first market segment that could be interested in the NanoFoamer PRO consists of coffee enthusiasts who prioritize the quality and taste of their coffee. These individuals might be willing to invest in specialized equipment to create a cafe-like experience at home. Psychographically, they value the preparation process and take pleasure in the art of creating microfoam. Demographically, they may be younger adults, aged 25-40, and reside in urban areas. Geographically, this segment can be found in coffee cultures around the world. A piece of qualitative data supporting this segment could be testimonials or reviews from coffee bloggers or enthusiasts who express their interest in replicating professional foam.

The second market segment could be home baristas who enjoy experimenting with different coffee recipes and techniques. Psychographically, they are curious and inclined towards trying new methods or gadgets that enhance their coffee-making skills. Demographically, they may span a wider age range and reside in both urban and suburban areas. Geographically, this segment may be interested in coffee trends across different regions. A piece of quantitative data supporting this segment could be survey results showing a higher preference for at-home experimentation among coffee enthusiasts.