For this assignment I was tasked with watching Season 13, Episode 13 of the television series Shark Tank. A show in which entrepreneurs are faced to face with the intimidating world of gaining business investments. The reality television show allows for future inventors to pitch their ideas to investors also referred to as “sharks.” The nature of the show is to have the contestants sell their ideas to the sharks, in which the sharks evaluate the fate of their success. The sharks will then make a decision on the spot, producing offers and renegotiation that will potentially fall in alignment with the inventors goals for their product or unique service.

The Pitch that most resonated with me is a product called Calm Strips. A product meant to reduce anxiety or stress. Furthermore, it help’s people diagnosed with ADHD,ASD.BFRB, and children ages six and up.  Calm strips are a textured sticker that provides a convenient way to regulate anxiety ridden behavior. Whether It’s nervousness, tiredness, or fidgeting, Calm Strips are a simple yet efficient way to recess and distract your mind. Having many options and designs to choose from, Calm Strips are able to target a variety of people and institutions. With over 40 million adults (7% being children) suffering from an anxiety disorder, this increases their potential as a inspiring business. A major factor that may fall in favor with consumers is the portable design of the Calm Strips. With environmentally friendly futures and and qualities such as residue -free and water resistant, consumers are left with a vast decision on where to place their new Calm Strips.  Places ;like laptops. phone cases, and water bottles are just some normal items encouraged by the company.

The founders of  Calm Strip presented their products to the sharks by looking for a $250,000 investment for 10% of their company. They then proceeded to sell their pitch with favorable qualifications, with return rate of less than 1%, cost of production being and estimate of $3, selling price $12.48 for a pack of 5, are some attributes preferred in the world of business. The founders of Calm Strips also included that they raised $2.5 million within a year of sales and $400,000 within the last 3 months of sales. These numbers impressed the sharks and allowed them to produce the team with offers. Kevin’s offer began with no equity, wants $2.50 per unit until the $250,000 is returned in which unit price will drop to $1 perpetuity. This influenced another sharks offer, Michael. He offered the $250,000  with $2.50 per unit until money is returned in which priced is dropped down to $1.50 until three times the return of the initial capital. All though both offers by the sharks seem similar, important factors must be taken into consideration when completing the final verdict. Kevins offer included “perpetuity” , with no set timeframe on when the Calm Strip team would cease paying $1.50 to Kevin, the company risk a loss of financial gain. However, Michael’s offer includes an end time with $1.50  per unit until 3 times the unit is paid. This gives the team an insight of the financial future of Calm Strips.

Calm Strips addresses a gap by offering people a solution for anxiety reduction. The product encourages consumers to carry stress relief tool wherever they go. This narrows the quest to find a calm moment within a chaotic lifestyle . The product highlights a quick and portable solution making it not just a want but a need for people seeking ways to decrease stress. The product not only offers a shift in addressing anxiety, but may influence the way it is dealt with in the future. With no cure for the illness, a team of specialist might look to gadgets like this for an immediate relief they can refer to patients. Calm Strips should consider Social media engagement and educational campaigns to expand its appeal to consumers. Developing a social media community around stress management may encourage users to come forward with testimonies that creates a sense of connection with the buyers and products. Educational campaigns  puts the business out there reaching a greater audience. Including information not only about the product but about the amount of people that suffered from stress with no quick and portable outlet. Highlighting Calm Strips as a tool connected with science and designed to make dealing with anxiety easier.

The pitch that most resonated with me from Shark Tank Season 15, Episode 7, was the product called “Rekkie”.  The product they sell is smart ski goggles, with a built-in heads-up display that shows, among other things, where your friends are on the mountain.  The reason this product appealed to me is that I could identify with the problem they presented: multiple family and friends on a mountain and not being able to find them all after a run.  It results in a lot of time just waiting around for everyone to gather.  Since the problem that their product was solving seemed very personal to me, I was excited about the product that offered a solution.

The goggles work by projecting information onto a heads-up display that seems to float in front of your eyes, without being distracting.  The information that is shown includes, your speed, your elevation and where your friends are, and it also allows you to control your music or read your texts.  The gap that this product fills is that there is no “hands free” way to find your friends on a ski slope.  Taking out your phone and looking for them is usually not feasible when either on a lift or when skiing and often you do not have service on the slopes, so your phone does not even help.  These goggles help fill that gap and creates a hands-free, no phone way to stay connected.

The segment of consumers will want this product are people who ski or snowboard, or who do other extreme sports where holding a phone is not possible and they will seek out Rekkie because there is no other product like it on the market.  In the same way that it is hard to imagine life without a smart phone today, consumers will realize that this product just extends their phone to a place where it was not practical to use.  Therefore, they will realize that they need this product.

In terms of branding and packaging, this product is more of a “specialty” product and as such, it would probably be best sold in ski shops and on ski websites.  It can also be profiled in tech magazines to promote the technology aspect of the goggles.  The price point is not much different than other high-end goggles, so why would anyone buy a “dumb” pair of goggles, if they could get these for a similar price?  I was not so sure what the name of the brand came from so I looked it up online.  It seems that “REKKIE” is British military slang for reconnaissance.  I really like that name but it should be explained more upfront so consumers can understand right away what these goggles are intended to help with.  I think that the consumer who wants to buy these goggles probably likes to think of themselves as an explorer, and so owning a pair of goggles whose name links to a reconnaissance term, would be appealing.

One interesting thing that was mentioned at the end of the segment on the goggles was that it could have applications for military and police use.  I thought that this was a fascinating use of the product and the technology.   However, I think that if they were going to market to the military, they probably should only license the technology rather than supply the actual goggles, because many people would not want to purchase something that has a military application.

Out of all the pitches I saw while watching shark tank’s latest episode I felt the pitch that resonated with me the most was the Fidget game by Brandy. I felt that having something that can gamify reading sounds very fun and actually useful and having a positive goal. I feel that no one should have to struggle while reading, especially young children. I like the product’s functionality using multisensory learning and uses bright fun colors. I also felt Brandy was very confident and willing to win over the sharks asking for 500,000 for a 10% equity within her company.

The concept is basically a bunch of cards that have different words on them, and the child has to do a specific thing when they choose one. One card they must know by heart and the other one must read it out in a flash. After that the child must pop all the bubbles down if they get it correctly and whoever does it first wins. I feel that the game definitely fills in the gap where instead of needing to get more educational help or tutor parents can make one simple purchase and use a game to improve their child’s reading skills.

I feel the process this product makes easier is the fact it’s very accessible online. It is below on social media and lots of its sales are from amazon which is 85% while on their personal website is 15%. Lots of people use the internet so it’s not a surprise Brandy has 3.2 million in sales and definitely has a good standing. I feel people need this product because it can help so many people and not just kids struggling to learn like the sharks were talking about their dyslexia. I can definitely see the game helping. I also feel since it is a fidget game kids who have adhd would love the game too and could use all that extra energy into something that’s fun but helps them learn.

I feel that the way this product should be the best positioned is like what Brandy said is expanding it and finding out the next steps. Brandy basically wants to create a reading tunnel for grade pre-k to grade six and also get the product into different languages. I feel Brandy can do this by marketing the product to the best of its ability to help Brandy land a good licensing deal and get the Fidget game on shelves. I do feel the game could be marketed to an older audience. I feel sticking with the audience she already mentioned would be better for now because she could always branch out to other opportunities in the future.

I think that when the product starts doing well on shelves and big companies for example like Hasbro which would be perfect to promote her product, she could make different packages of the fidget game for an older audience. Kids packaging could be kept the same and same vibrant colors and for teens and older adults with maybe adhd or dyslexia the game could have a simpler look to it and contain more challenging word problems. I believe Brandy is very dedicated and having no debt and great sales makes it even better and by having a shark will help propel her product to the next level.

Liling liu

MAR 100 – B050

Professor Buckler

November 30,  2023

     Among the various pitches presented in Season 15, Episode 7 of Shark Tank, the Yum Crumbs pitch by Delson Jeanvilma particularly resonated with me. This pitch stood out not only due to the innovative nature of the product but also because of the clear passion and vision behind it.

The Compelling Pitch of Yum Crumbs

The Yum Crumbs pitch was a captivating blend of enthusiasm and clear market understanding. Jeanvilma presented his product as a unique dessert topping, differing from traditional toppings with its non-crunchy, cookie-sprinkle-like texture. This distinction caught the Sharks’ attention and mine as well, as it addressed a specific gap in the dessert toppings market.

Product Concept and Market Gap

Yum Crumbs is presented as a versatile, gourmet dessert topping. Its array of flavors(over 20), including birthday cake, apple pie, and chocolate peanut butter, offers a wide choice for consumers. Unlike typical crunchy toppings, its unique texture fills a gap in the market, providing a new sensory experience for dessert enthusiasts.

Simplifying the Culinary Process

This product simplifies the process of enhancing desserts, making it an easy choice for both professional chefs and home bakers. Its versatility means it can be used on a variety of desserts, from ice creams to pancakes, thereby reducing the need for multiple different types of toppings.

Beyond Desire: The Need for Yum Crumbs

Yum Crumbs goes beyond being a desirable product to being a needed one, especially in settings where culinary creativity and efficiency are paramount, such as in bakeries, ice cream shops, and restaurants. It’s not just a topping; it’s a tool for culinary innovation, making it an essential item for those in the food industry.

Positioning Yum Crumbs in the Market

Based on its characteristics, Yum Crumbs straddles the line between a shopping product and a specialty product. While it can be a deliberate purchase for culinary enthusiasts and professionals (specialty), it also fits into the shopping product category for regular consumers comparing different dessert topping options.

To effectively position Yum Crumbs in the market, a dual strategy could be employed:

• Branding: For the specialty market, branding should focus on the gourmet and unique aspects of the product. This can include storytelling elements in marketing, emphasizing the product’s ability to bring professional-grade culinary creativity into one’s kitchen.
• Packaging: Eye-catching, descriptive packaging is crucial. It should clearly communicate the product’s unique texture and variety of flavors, potentially using color coding or imagery that reflects each flavor’s essence.
• Digital Marketing: Leveraging its Shark Tank appearance, Yum Crumbs can use digital platforms to reach a broader audience, using targeted ads and social media strategies to engage both regular consumers and culinary professionals.
• Ingredient Transparency and Adaptation: Reflecting on consumer trends towards healthier and more sustainable ingredients, Yum Crumbs could consider reformulating to incorporate preferred oils and natural ingredients, enhancing its appeal to health-conscious consumers.The current use of soybean oil, palm & kernel oil, and citric acid might deter health-conscious consumers. A shift towards more natural and environmentally friendly ingredients like coconut, olive, or avocado oil could broaden its appeal. This change not only aligns with the growing trend towards healthier eating but also resonates with environmentally conscious consumers.

Conclusion

Yum Crumbs presents an exciting opportunity in the dessert toppings market. Its unique texture, variety of flavors, and versatility make it a product with wide appeal. By focusing on strategic branding, thoughtful packaging, and aligning with market trends, Yum Crumbs is well-positioned to meet and exceed consumer expectations, revolutionizing the way we think about and enjoy our desserts.

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