Analysis of Oura Ring
- Customer (Who specifically is helped?)
- Biohacker or person that believes gathering health data will enable longevity
- Pain (What is the frustration for the customer?)
- Smart watches are not very comfortable when sleeping, not classy and constantly need to be charged.
- Solution (How does the product remove the frustration?)
- A ring that measures heart rate and HRV, does not need daily charging and frees up your wrist for a nice watch.
- Offer (Pricing, warranties, terms)
- 350$ USD ring and 70$ USD per year membership
- Channel (How do customers discover and purchase the offer?)
- Biohacking community word of mouth
Exercises for the reader
- Can you think of a totally different way to efficiently help this market?
- Can you think of a different market where an analogous strategy would work?
- What is the underlying need that the customer has beyond the immediate problem?
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