Such an interesting post! I wonder if they will face the same fate as the company in one of your previous posts that had a similar product for juice where people realize its not that hard to simply make their own cocktails. One big value add here is that you can make hundreds of cocktails, however, the average person has their favorite one or two drinks so the option to make 300 might not be so attractive after all. I completely agree with Chris here and think they should consider a commercial version. Perhaps it can save bar tenders time in making drinks or allow for self service. I could also see companies purchasing it for their office happy hours for example.
Thanks for the post, Eliza! I think the VR is such a great way to understand client preferences and upsell them on products they didn’t even know they wanted. I think a lot of times people use products differently than they are intended to be used – for example maybe I use a book shelf as a TV stand. I wonder if Wayfair is able to learn about how their customers use their products differently than they may intend and if that can play into future designs of products. I think the upselling from VR is such a great opportunitiy as well because when I’m designing a new living room and spending a few thousand dollars on new couches, tables, etc., if they recommend a few decor pieces that would look nice, it seems so minimally incremental at that time when I’m spending a lot anyway.
Great post and also a little scary for all of us entering the consulting world post MBA. I completely agree that there should be some sort of rotation or fellowship where BCG employees can rotate through the digital business units. I think this helps each group understand what type of work is being done and what capabilities each unit has so that they can go to market together more smoothly. I think it would also be helpful to have trainings for all employees on what cabailities each unit has so that traditional BCG employees can spot opportunities to sell work through the digital business units. There could then be some type of benefit like a referral bonus.
Super interesting, Lama! I think you’re right in that a major benefit of something like this can even just simply be that employees feel heard. My biggest concern would how anonymous it is. It sounds like if managers can respond directly to employees so a lot of the feedback must not be anonymous. I’d worry about companies getting honest feedback this way. Also, I wonder if down the road it will cause any legal / ethical issues for example if an employee that is always complaining via surveys gets fired, can he/she claim that the only reason they got fired was because of honest feedback they gave?
Super interesting post! This is incredibly interesting and incredibly scary at the same time. I’m actually really surprised that 56% of employees would be open to wearing something like this especially when it’s somewhat unclear how the insights lead to real authentic change and not manufactured behaviors. I’d be curious how much they were told before getting asked the question. I think my biggest concern (in addition to data privacy) is similar to the concerns people had in the soccer case around people becoming robots. If people know that their every word and movement and interaction is being recorded and analyzed, I find it hard to believe that they will continue acting in an authentic / genuine way. I’d imagine people being falsely positive when talking about the CEO behind his/her back for example if they’re being tracked. Maybe this is a good thing to some extend but overall I’d be very concerned.
Great post – makes me want to grab sweet green for lunch today! Another thing I just learned they do (because a friend got chosen) is pick people who order off the app often and provide them with in app cash to buy salads in exchange for filling out feedback on different ingredients, new salads, etc. This way they can collect additional qualitative and quantitative data on what and why people are liking certain items.
This is hilarious and sad at the same time. I definitely see the value in the platform as naming companies and coming up with trademarks are difficult tasks and can definitely benefit from some inspiration from crowds but I wonder if they could change their incentive / payment structure. For example, creatives are only paid if their submissions are eventually used in the name (I know this would be hard to track though) or if they get a certain level of smiley. Or creatives get kicked off if they get x% of frown faces or x% submissions reported as spam. They could also leverage a model similar to the case we did in class where people enter submissions, internal employees narrow down to a few good ones and then release them back out to the crowd to work on them and the few that get chosen the first round get a few $ and then the winning one gets a few more $.
Very interesting post! I think what is particularly interesting is their requirement to post information in order to get access. What if you were about to graduate college and were looking for a job and in order to access information, you have to enter information even though you’ve never had a job to enter. You’re definitely right in how that incentivies people to publish fake information since it’s not verified. I wonder if instead of requiring users to post preious job information, they could instead give them an alternative to enter information on what types of jobs theyre looking for and what salary they expect or something else that can be useful to sell to employment agencies or companies looking to hire.
Very interesting read. I’m actually surprised that it’s gaining popularity as it does feel a little gimmicky as mentioned above. I wonder if they could actually use a similar campaign to come up with new items all together as people become more health conscious and move away from chips. For example someone could suggest crisps made of cauliflower seasoned with buffalo sauce or something healthy / random that they may not have thought of.
Very interesting read – I had never thought of a future where Spotify turns into a record label but it seems like a very logical direction to move. Perhaps they could start my focusing on unknown or lesser known artists to test the model and slowly move toward popular artists. Either way, I think you’re definitely right that they must make some type of big move in finding a novel model. We all saw how quickly users switched from Pandora to Spotify and they certainly don’t want the same fate.
Very interesting read. Sounds like the value prop is incredibly high especially for motivated sellers who may be moving for a job, are strapped for cash, etc. and may even be motivated to sell at a lower price in exchange for the quick process. I was thinking about whether I’d sell my hypothetical house on Opendoor one day and I think my one hesitation would be that it takes away the ability to let the market decide a price and bid it up. Perhaps if Opendoor had competitors just like them that could bid for my house, I’d actually be comfortable with the model and more likely to sell. Given that it’s a winner take all market as you describe, however, it seems this may not be possible.
Very interesting to see how they got around many of the traditional issues of dating apps! I think one other thing that helps their cause is that they only need to cater the platform to one gender. For example, one study showed that men prefer a long list of matches while women prefer fewer more curated matches. By catering to a more narrow demographic, they can focus on the features the customer really values.
Thanks for sharing! I’ve actually never heard of Juicero so this was very interesting. What strikes me as funny is that they went after the individual consumer market when perhaps they could have gone after businesses both small and large. I work on a team at the launch lab and they have a Bevi Machine that makes flavored still and sparking water and it’s been a huge hit (though not sure how the company is doing financially). For a company, $700 seems like a small price tag to pay. Additionally, since companies pay your health insurance they are always looking for ways to encourage you to be healthy so they can in turn save on your insurance. This seems like it would be a great and cheap candidate in that respect as well as a perk in the office that keeps employees happy.
I can completely relate to this post as a previous Fitbit owner who has stashed it away in a drawer somewhere. I think you’re right in that what drew a lot of people (including myself) to them at first was the fact that it was any bit of data that I could have to quantify how active I was without entering it manually myself. It was before iPhones had the health app that shows your steps and before Apple had the watch. So compared to non-consumption, this was a great option and you could get one for as low as $60 or around there so the barrier to buying one was fairly low. Now that there are products that track much much more and people carry their iPhones everywhere anyway that tracks steps, the Fitbit has become essentially useless. It will be interesting to see where the wearables market goes from here. There are many startups trying to get into the space selling products that track one-off thing such as hydration level, sleep needs, or how high you jumped but it will be interesting to see if there is some aggregation that becomes a one stop shop for all metrics or if that is virtually impossible given the technology that is required of each.
Very interesting post (and impressive Snap score haha). It will be interesting to see if Snap can in fact come up with some sort of innovation that giants like Facebook and Instagram cannot replicate. It’s interesting that what felt like overnight people shifted from Snap to Instagram stories and I think the reason for this is that Snap feels more personal, so people don’t go out friending everyone they’ve met where Instagram there feels like less of a barrier to follow people. So in talking to a few people and inquiring why they used Instagram stories over Snap, their response was that they could publicize their story to more people as opposed to the few closer friends that they’ve connected with on Snap. For Snap, I worry that this will be an issue for them going forward no matter what features they roll out. People simply just have less friends on Snap and will be less incentivized to use it. I’d actually wonder what the average number of connections people have on Facebook vs Instagram vs Snap.