Client Update Presentation Meriwether Morris, Lee Evans, Nikki - PowerPoint PPT Presentation

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

Findings from Product Use Journals Simple adjustments: More deep-rooted adjustments: - Directions - Product Design - Target Market Positioning - Material Composition - Price Point

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 ●

Studied Target Market: Existing Meditator Community

Plan Design for Customer Discovery 1. Attended several mindfulness/meditation classes on Duke’s campus. a. Moments of Mindfulness: Flower Power b. Moments of Mindfulness: Meditation c. Moments of Mindfulness: Buddhist Meditation d. 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

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

Existing mindfulness tools Wooden fish (for chanting) Mala beads Tibetan singing bowls Meditation bench Meditation Apps Zafu (meditation pillow)

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.

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. ●

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

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 ”

Problem Identification What problem or issue does the Hydrean address and how? I don’t want my I hate looking meditation to take me out of at a screen! the moment!

Positioning 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.

Target Market Recommendations OUR PROPOSED TARGET MARKET Traditional Meditation: Meditation as a Trend: Sacred and Spiritual Science of Meditation & the Brain Buddhist Philosophy Convenience of Meditation Stress Management

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-aged b. White c. Female d. College-educated e. Living in the Western United States. 3. Personality Qualities: a. Wellness-oriented & values self-care b. Conscientious Plan → Capture those users who are dissatisfied with apps and digital screens .

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-acqu isition/ https://blog.calm.com/about