Know-How Exchange : Strategy

Just a flash of an idea.... regarding not the hanger, but the knob - make it cedar and you'll keep away moths, etc. But not the hanger, as it may leach into the fabric. I thought the home shopping network or QVC might be good outlets too.

"Hang in there!"

CVN

FWIW, I agree with CVN: The cost is pretty steep for the benefit ... at least for most folks. Have you done any consumer research to see how the target audience reacts to the value proposition and how much they might pay for this solution? (Who IS the target audience anyway?)

I'm not a big fan of market research approaches to pricing, but this is one case where there's a lot of evidence that people are not willing to spend much to get their closets neat, and then you come along with a proposition that could cost hundreds of dollars. I'm wondering if the problem you're trying to solve -- the BENEFIT -- is really important to end-users/consumers.

As you so often note, it doesn't matter how well the product works. It's all about satisfying an important unmet consumer need. And those needs are in the minds of the consumers, not in the product or in your client's executive suite.

My hypothesis is that this product may not address a very important consumer need. There could be a small niche somewhere, but probably not a mass market audience for this -- your enthusiasm for the concept notwithstanding.

The challenge should be identifying the very narrow target audience for whom messy closets are a serious problem ... one for which they would pay a few hundred dollars and who don't want to install a traditional closet organizer (a la California Closets, et al.).

I have to respectfully disagree with the comments about price above.

My friend, Steve Boorstein, the Clothing Doctor, sells specialized plastic hangers in his online store here: https://www.clothingdoctor.com/hangers.html

The plastic hangers for suits and skirts Steve sells are around 30 dollars for 12 hangers.

Plastic hangers have one 'perceived' price, wood hangers with a spacer, another. Comparing the two, I perceive wood as more expensive to produce than plastic, thus, I would expect wood hangers to cost more.

It comes down to perceived value.

If I can use these hangers as part of my loyalty marketing system with my drycleaner clients, the 'perceived value' of would be more.

I plan to offer these hangers like this: customer comes into a drycleaner and picks up their order. For every ten dollars in drycleaning spent, the customer would receive one point. The customer collects ten points, and they would get one hanger and one spacer. Mathematically, the hanger would cost $100.00 Kinda changes the perspective on my friend's Steve's prices now, doesn't it?

I think that even at 100 dollars for a hanger, they will be considered 'worth it' from customers. It's something extra just for doing business with a good drycleaner. It's something a customer can use, it's something 'different' and can't be easily found on the store shelves, and because it's practical AND useful, I suspect they will be highly collectible because it's money heavy consumer's of drycleaning would be spending anyway. Once you try one out, you will want more. Since you are getting it 'for free' from money you'd spend on drycleaning anyway, well, may as well collect a complete set for the master bed room. Then, start on the hubby's clothes, the oldest daughter, etc, etc, etc.

The added bonus of having better hanging clothes and an organized closet, well, its an appreciated extra.

Since high consumers of drycleaning would also be a target market for these hangers, I see a natural fit. I know a few couture cleaners like my friends around the world at www.leadingcleaners.com and www.madamepaulette.com in New York DEFINATELY have clientele who would love this hanger, maybe even as one to replace their regular hangers used in the plant.

Darcy Moen
Customer Loyalty Network

Randall

Are they looking to export?

I have a friend who is a designer of wardrobe, cupboard and closet space at https://www.creativebydesign.com.au/ and I will share this product with her. I'm sure she'll love it.

ChrisB