Internal Emergency Back-Up Battery

Internal Emergency Back-Up Battery

• Improvement of an existing product (cell phones of all brands)

Idea Generation
Problem: Cell phones are great and very convenient, but there are days when we FORGET to charge them, or days when the battery seems to run out faster than it should. Of course on days when your cell phone is not charged properly, you end up having an emergency. For example, you’re on a long road trip and your car breaks down or maybe you slid off the road and damaged your car. Or, it could be something more serious than that, such as you have just gotten robbed or even worse, taken unwillingly.

Idea Screening
Although cell phones warn you about their battery dying soon, many people don’t save that last bit for a ‘just in case’ emergency. I think it would be interesting if I could sell my idea to cell phone companies. My idea is to have your regular, ‘main’ battery and also a much smaller battery located on the cell phone. These batteries would cost around $10 to get them re-charged and so people can’t take advantage of them. There is a specific RED button on the phone to activate the extra battery in case of this emergency. I’m sure people would be willing to pay $10 to get these batteries charged up for the ‘just in case’ emergency.
What made me think of this idea? Often times, I forget to charge my phone. I’ll have battery in the beginning of my work/school shift, but by the end, I’ll have no power at all. On my ride home I think to myself, “What if something were to happen to my car or to myself?” How would I get a hold of someone?” Therefore, with this extra backup battery, I would feel safer because, just in case something were to happen, I could activate my smaller battery and call someone immediately.

Business Analysis (Questions from page 151)
What is the likely demand for this product? I think it would be pretty high for women. But, if it is in all cell phones, the demand would be high throughout society.
What impact would the new product have on total sales/profits? I think it would have a decent impact. People buy cell phones not only to talk, but to have for those ‘just in case’ emergencies. But, a lot of people use them to talk, and use all the battery and therefore need that extra burst of battery for that one occasion when you will really NEED it.
Would current customers benefit from the product? It depends upon how the cell phone company’s would manage the new product.
Would the product enhance the image of the company’s overall product mix? Yes
What new facilities, would be needed? I don’t think any new facilities would be needed. Individuals would just have to go to their local cell phone companies store, in order to re-charge the backup battery for a fee.
How might competitors respond? I think that this idea would be a pretty big hit. I know that if my cell phone company was offering something like this, I would grab it.
What is the risk of failure? That is another thing that depends upon the cell phone company that buys the idea from me.

Clear Plastic Organizer Handbag Insert by Sue Musheno

New Product Development Process for the “Clear Plastic Handbag Insert"

New-Product Strategy: Women buy an array of handbags in different colors and styles to coordinate with their outfits. The problem is that busy moms or career women strapped for time can find switching bags a time-consuming chore. Some days, as I get ready to walk out the door to work, I realize all my “stuff” is in the wrong colored purse. My only option so far has been to dump the contents from one purse into another. This disorganized way of changing from purse to purse has left me rifling though messy contents of what seems like a deep, dark abyss to find a pen, keys, lip gloss, or any other number of important items that I must carry with me each day. A woman has got to have a matching handbag, but how can we simplify our lives to make changing from one purse to another an easy, simple task before running out the door. One solution is a clear handbag insert that can be easily lifted out of one purse and placed in another while keeping the contents organized in pockets.

Idea Generation: The wants and needs of customers should generate the concept for a new product. To this end, I will conduct surveys and convene focus groups. By surveying busy, career women and moms about their need for quick handbag changes each day, I will attempt to find out if a clear plastic handbag insert will meet consumer needs. Insert sizes will be discussed, as well as attractive, colored ribbon trims. Questions will be asked as to what items women typically carry in their bags to determine how many and what sized pockets would be most useful for items such as cell phones, tissue packets, checkbook, pen, etc. In addition, competition will be investigated. An online search showed that there are a few options already on the market for purse organizer/inserts. Most are large, bulky solid-colored inserts and can be quite expensive. An attempt will be made to distinguish our inserts from those already on the market. Vendors will be sought, in particular, specialty stores who feature Vera Bradley handbags, since our clear insert will complement the interior bags of that line’s brightly colored and popular designs.

Idea Screening: In this first filter of the product development I will conduct a concept test to evaluate our clear inserts for handbags. Descriptions and visual illustrations produced as a result of the idea generation stage will be presented for consumer reactions.

Business Analysis: In this second stage of the screening process I will determine preliminary figures for demand, cost, sales, and profitability. A purse insert is a fairly simple product to assemble; however, advice will be sought from consultants regarding the use of vinyl, plastic, or the newer polyethylene vinyl acetate (PEVA). Keeping costs in mind, the most environment friendly substance will be sought. Sales prices for our product will be weighed against the costs of materials needed in manufacturing and the current economic trends to determine possible range of profits. The following points will be considered in this stage:

• Demand for a vinyl handbag insert should be high since the modern on-the-go woman appreciates items that will organize and simplify her life.
• This new product is expected to do well in total sales, profits, market share and return on investment. Manufacturing costs should be low and with vendor partnerships, a high market share is expected.
• The introduction of a clear handbag insert will complement purchases of all handbags currently on the market and will not cannibalize any existing products.
• Current purse customers will benefit from an insert purchase since it will protect the interior of their new handbags, making them look newer and last longer.
• The plastic insert will create a new workforce for its production.
  New facilities will be needed where inserts could be cut from raw materials and assembled.
• Competitors might respond by lowering their prices to be competitive with our product.
• Risk of failure is possible; however, I expect our product to be a small scale success.

Development: Several prototypes will be developed in small, medium, and large sizes. Packaging, branding, and labeling will be considered to catch the eye of consumers and make the clear purse insert an attractive purchase for women of all ages.

Test Marketing: A limited production will determine initial reactions of potential customers. Cooperative retailers in large cities and suburban areas will be used as test sites to target career women and busy mothers with young children. In particular, specialty stores carrying the Vera Bradley line will be sought where our insert will complement purse design and color. These sites will be in alignment with planned distribution outlets.

Commercialization: In this final stage of new-product development, test marketing will be the deciding factor on whether or not to market the clear inserts for handbags. If the decision is made to go ahead, we will order equipment and materials, build an inventory, and ship our purse inserts to distribution points while planning our advertising campaign.

New Gas Cans with a Vent By: Chevus Turner

1.If any one out there has used these new styles of gas cans made by blitzusa.com you will find that there is no vent on the other end of the nozzle. The cans nozzles are suppose to be self venting but if you have used these you would no that is not the case. This might not be a big thing but for some the little things can drive them bonkers. These new style of cans were produced to control spills and such so the vent was removed so in case the can fell over there was no outside pressure to aid in the gasoline to spill out of the cans nozzle.

2.Surveys will be sent out to local hardware and automotive shops and also companies could show us their return list of gas cans. Also a mobile survey could go around finding people who use these cans and ask them what they think of them and how do they think they could be improved. Distributors would also be a very good way to know what they think of the product.

3.We know when screening the ideas of a vent we cannot use the old fashioned flip the caps up and pour we must go by the guidelines the government has issued so that spills are still eliminated. We know that these new vents must always vent but so that they do not allow liquids to seep out. Then brainstorming will start and ideas will be tested and prices will be compared.

4. The new vents will not have a high price to create except for a new machine on the assembly line to add the product to the existing gas cans. Sales will improve and returns will be minimal but we will be the only company to offer this there for people will be much happier that a past product was improved for ease.

5.Our prototype will be created and tested to the extreme from dropping 3 stories and being ran over to make sure that the product will do its job and not let a spill occur for any reason once this is past then new vents will be sent out to locals stores. Also it will be passed by the government for resale in the United States.

6. Once these new and improved gas cans are on the shelves we will have the store ask for the customers phone numbers and call them a week after they purchased our product and ask questions of what they thought of the new idea and how it worked for them and ease of use. Also we will then again ask for a return list on the product and compare it to the previous return list taken earlier.

7. If all has passed then we will begin marketing the product in stores, by taking all previous products and recycling them, and also by giving a simple commercial for people to know what they wanted was out to buy and make their days easier.

Online Banking: Star Check Book Register

ONLINE CHECKING ACCOUNT REGISTER: BY BIANCA DUCK

I currently work at Pennstar Bank and the most frequent problem customers seem to face is balancing their checkbook register. They forget to write checks, debit card transactions, ATM transactions and deposits in their checkbooks. Online banking and automated telephone number is offered as product services to help customers balance their checkbooks. However it still does not help them to remember to write down transactions in their register or encourage them to use a checkbook either. This results in customers receiving bank fees for insufficient funds and bank personnel having to help customers wade through transactions to figure out problem areas in their accounts. Most customers use online banking and would benefit by having a checking register online.

NEW PRODUCT STRATEGY:
To create an online checking account register that will help bank customer keep track of their daily monetary and banking transactions without have to physically write them down. The product will help customers balance their accounts and help them to avoid paid items fees, and non-sufficient funds fee and increase satisfaction with the Pennstar financial institution. This product will be marketed toward all customers of all demographic backgrounds; putting emphasis on busy families and college students.

IDEA GENERATION:
TO CREATE AND GENERATE IDEAS WE WILL SURVEY AND INTERVIEW BRANCH PERSONNEL WHO ACTUALLY INTERACT WITH CUSTOMERS, SO THEY WOULD BE AN EXCELLENT SOURCE OF RECOGNIZING WHAT CUSTOMERS NEED, WANT AND BENEFIT BY. THEY CAN INTERVIEW CUSTOMERS, TAKE SURVEYS, AND WRITE DOWN FREQUENT PROBLEMS THAT OCCUR FOR CUSTOMERS.

IDEA SCREENING:
Will the online checkbook register be used for personal or business accounts or both? How will the register balance? What will remind people to enter any checks written in the register? Will there be reminders? Will the checkbook automatically enter debit card, ATM transactions, deposits, automated payments and wire transfers as they come through? How long will it take to update the register? Who do customers contact for assistance if problems should occur? Who will this product be tested on? Bank employees who have accounts at Pennstar will be asked to test out the product and complete a survey.

BUSINESS ANALYSIS:
The demand for the product will be great after it is introduced to customers as need that they hadn't recognized before. The impact the product will have on overall will be a high increase in sales of checking accounts, which in turn lead into sales of other bank products. This is a solution to a problem that customers continuously have at all banks therefore by providing a solution makes Pennstar an industry leader and gives them a competitive advantage in which would increase their market share, profits, sales, and return on investment. This product would help other products such as checking accounts to sell themselves, and increase use of online banking. The only product that it might cannibalize is the actual physical paper checking account registers’ that customers use. However the older generation and a few others probably would still continue use a paper register because of their resistance to change and technology. All current customers would benefit from this product especially college students, busy individuals, families and also businesses. The product would enhance the image of the company's overall product mix by thinking forward technology wise, and offering a solution to a common problem. The new product would affect current employees by not being bombarded with problematic questions regarding customer’s accounts not balancing. This product would keep the workforce of the company at the same level. The company wouldn't have to hire more employees to service the product or decrease it's current employee workforce because the product would not affect transactions at the branch level. Employee attention could be better put to use other areas. There would be no new facilities for this product since it would be an easy addition to the online banking that already exists. Competitors would eventually respond to offering the product themselves, since most financial institution products are the same the differences are in the fees for products.. The risk for failure is minimum and the company would be willing to take the risk since there are so many benefits and opportunities to come from offering the product.

DEVELOPMENT:

The online checkbook register will resemble a physical checkbook register. The lines for monetary transactions that are debits will be gray with red writing. The lines for monetary transactions that are credits will be white with blue writing. Balances will always be black except when balances are in the negative,which will then be posted in red, in order to draw attention from the customer to the balance. All transactions will appear in real time. This means as soon as transactions are posted to the bank they will appear in the register. So if a customer makes a purchase at Wal-Mart with his/her debit card that transaction will appear in the register 5 minutes later. The register will keep a running current balance. Each time the customer logs on to view his or her account a window will pop on the register that reads ' DID YOU WRITE A CHECK TODAY' so that they may enter in the check. When the checks clear whom the check was made out to will be appear in the register in the check register. Bold, black, and large checkmarks will appear next to all transactions that have been processed.

TEST MARKETING:
The product will be first tested on bank employees who currently have checking accounts with Pennstar. Surveys, and interviews will be conducted with employees to identify problem areas and needs for improvements. Product testing also will be done on to customers that already use online banking. Research will be conducted for 3 months in order to gather results on satisfaction of product with customers. Last tweaks for the online check register will be made in this stage.

COMMERCIALIZATION:
This is when the product will be given an official Pennstar brand name of Star Checkbook Register. It will be labeled under the checking account product line. This will be available immediately on Pennstar online checking. A widget will appear for customers to sign up for the free service. Bank branch personnel will have received training on how to operate this register online, along with being able to view the account with customer at their stations if customers should encounter problems. Marketing will be in charge of distributing flyers in bank statements, running an advertisement campaign on radio, Television, and local newspapers for the product so that Pennstar is seen as the industry leader of the product. Brochures and posters will be placed in lobbies of branches.

Cedar Point [Improved] by Jane Kennedy

After working at Cedar Point for two seasons I had realized that there was a huge problem with the way the roller coasters operate. I was transferred to Top Thrill Dragster for three days because of the many terminated employees and realized that the roller coaster (which is extremely popular throughout the United States) does not fit the larger population, meaning only petite, skinny people can actually ride. I must admit many people were embarrassed /angered to make it all the way to the front of the platform just to find out they could not fit. This is not just the case with Top Thrill Dragster but also with Millennium Force, which is another huge attraction at the park.

New Product Development

(1) New Product Strategy – to create larger seats that are available to fit into new larger train cars while continuing to use the same wheel dimensions. We do not want to make new wheel dimensions as the tracks would have to either increase or decrease and we want to make modifications to the actual train cars and not build a brand new track structure.

(2) Idea Generation – to create this idea of a larger train car or the seats in the actual train car it would be best to put together a survey and have employees walk the length of the park and ask as many people as possible. I also think it would be wise to ask the employees to take the same survey as they see the guests getting on and off the roller coasters daily. The third group I would prepare a survey from is outsiders; we could set up a website and advertise the website to allow outsiders to answer the same survey of questions.

(3) Idea Screening –How will we make the new roller coasters better and safer while making them bigger? What materials will we use to keep the environment clean? When will we introduce this product? What is our time line? What colors will we use for the new train car and seats? Will we use brand new products or close down the roller coaster and use existing products?

(4) Business Analysis –
a. The demand is great -larger people want to enjoy the roller coasters
b. Surveys - $500,000.00
c. Marketing of the new product - $1.3 million
d. Materials / Labor - $6 million
__
e. Admission – Increase by $2.00
f. Profit - $2 million

(5) Development – The new cars will stay the same as the old cars, meaning we will continue to use many different colors with the cars. The seat belts will now be a harness over the chest while utilizing black as the color of choice and the inside of the car will now be a bench seat that is shared between two individuals and again the color of the bench will be black. The name of the ride will be the same.

(6) Test Marketing – By only building one train car of its type we can allow riders of all forms to test out the new seats before we continue in production of the other train cars. We can also put a simulator on Cedar Point’s website and invite people from all over the world to login and take advantage of the simulator and then afterwards they can answer brief questions regarding the simulator.

(7) Commercialization – Finally, the brand new train cars will be available to put into action. This of course will drive sales, increase park attendance and bring many new faces to the park. Because we will be buying all the materials the space we will put together our product will be in the back parking lot and then we can ship them out to the different areas of the park.

Baby binki tape- Lauren Mathew

Background/ Journal:

In November I had my first child, a daughter. She is 3 ½ months now and a wonderful baby. The biggest problem we are facing is her persistence to spit her pacifier out. This poses two issues: (1) she spits it out in the middle of the night, interrupting her sleep cycle, and thus waking her up. My husband and I have tried various tricks such as swaddling her in such a way that her blanket keeps the pacifier in or taping it to her face with medical tape. The problem with the swaddling is that she is now too big to be swaddled and the medical tape just seems cruel- even though its just medical tape, the sight seems like abuse. I would like to invent a product that keeps the pacifier stuck to your child’s mouth, without causing harm.

New Product development process:

(1) New Product Strategy- to create an adhesive, which is placed on the back of a baby’s pacifier in order to create a seal. The glue is safe for a baby’s delicate skin, odorless, and will not stick to the child’s skin during pacifier removal. It is tough enough to resist a baby’s delicate pull, but gentle enough to be removed by an adult’s gentle tug. The product will be marketed to new mothers and fathers.

(2) Idea Generation- survey mothers and fathers about the idea, ask if this is a common problem in their household. Survey the market to see if there is another product with the same concept or if there has been a product like it which has failed.

(3) Idea Screening- What kind of adhesive should be used? A strip of tape that sticks to the back of the pacifier? A glue-like adhesive? A special Velcro? I chose a tape that is in the form of a pacifier- it is easy, mess free and disposable so you can use the product again and again.

(4) Business analysis- preliminary figures for demand, cost, sales, and profitability are calculated: (a) demand is great- this is a frustrating issue for many families. (b) Cost- about $2.00 per yard of tape, plus manufacturing space, supplies, and employment
(c) Sales- about $4.00 a pack
(d) profit- $2.00 profit

(5) Development- the product will be a clear adhesive stuck to a sheet, in the form of a pacifiers lip. The product will resemble a pack of clear stickers. Both sides will be sticky and will come in a variety of colored cases. The cases will include two pacifiers and 3 pacifier sheets.

(6) Test Marketing- I will offer free samples at Babies R Us stores in certain states. The states that I would test would be: Nevada, Ohio, Tennessee, and Maine, because according to my research, this is the states with the most stay at home moms.

(7) Commercialization- This is when the decision to Market the product is made. I will find a space in which to manufacture my product, train my sales force, and distribute my product nation-wide to Babies R Us stores.

(8) New Product- my product will be on the market and I will carefully watch sales

Questions commonly asked during the business analysis stage:

(1) What is the likely demand for the product?
I did research online and based on the blogs and forums I read, this is not a problem that only my family faces. Besides the child spitting the pacifier out and waking up, people were having problems with their children spitting the pacifier out onto the dirty ground and not having backups, causing their child to cry uncontrollably in a public place.
(2) What impact would the new product probably have on total sales, profits, market share, and return investment?
Based on my research this product is something that is needed by new parents. Parents are willing to fork out a lot of money in order to find a solution to the problem. The money invested would be retuned with a profit.

(3)How would the introduction of the product affect existing products? Would the new product cannibalize existing products?
Since there is no other product of its kind on the market, then other products would not be affected.

(5) Would current customers benefit from the product?
Based on the research I have conducted, yes.

(6) Would the product enhance the image of the company’s overall product mix?
Yes

(7) Would the new product affect current employees in any way? Would it lead to increasing or reducing the size of the workforce?
Since this is a new product, the employees would be newly hired. So no, they wouldn’t be affected, they would actually be benefiting because it’s a new job opportunity. (b) Increasing

(8) What new facilities, if any, would be needed?
A location would need to be chosen, and then a manufacturing plant would need to be built. The manufacturing equipment would have to be bought and employees hired.

(9)How might competitors respond?
There is no competition at the present time

(9) What is the risk of failure? Is the company willing to take the risk?
There appears to be a need in the marketplace, but the risk is about the same as when you introduce any new product – 50/50.
(b) Yes the company is willing to take the risk because the company realizes the need

Davina Molyneux

Kiddie-Neat-Seat
Davina Molyneux


New Product Strategy: (problem)
Our company is focused on making parents lives easier.
If you have kids, you know what a mess they can make in their high chair at the dinner table. When toddlers eat, it is like a tornado hitting the kitchen! You then have to get the broom or vacuum out to clean up the food all over the floor, and paper towels to clean up all the juice that went flying across the kitchen.

Idea Generation: (the solution)
We need to develop products that help parents with this problem. Wouldn’t it be great to have a tool for easy clean up to help solve our problem? Moms and Dads today are busy, working parents. Our company is devoted to helping parents out every day. We took some ideas from our current customers and employees, along with our marketing team, to help understand what our customers are looking for. After brainstorming, they all agreed they spend too much time trying to keep their house in order, while working full-time and raising the children. They all had problems keeping their lives organized.

Idea Screening:
This is why my company developed the Kiddie-Neat-Seat. The Kiddie-Neat-Seat is simply a highchair with a small vacuum attached to the back. There is also a paper towel holder with a place for a spray bottle of your favorite cleaner. There is a small canister under the seat that holds all of your waste and when it is full, you can simply empty the canister into the garbage. Some of these items are not pleasant looking to have in your dining room, so we added a small compartment door to hide all of these features. This product is going to save parents an extreme amount of time when cleaning up. No more hauling that big, heavy vacuum out of the closet three times a day just to clean up after meals.

Business Analysis:

There is currently no other product like the Kiddie-Neat-Seat on the market. The demand for this product may be affected by the current state of the economy, but by time the product is to be commercialized, the economy will be in a better state. We will be able to keep the cost affordable. We have the only product like this ready to market, so we need to keep the price affordable due to the rise of competition. By using resources that we currently have in stock at our warehouse, we will be able to produce at relatively low costs.

Development:

Our Research and Development team are partnering with the Engineering Team to develop a stereotype of the Kiddie-Neat-Seat. This will help us determine map out our advertising, pricing, and promotions strategies. We will be able to determine a price for the product.

Test Marketing:

We plan to test our products by letting some of our current customers try a prototype at home. Of course, the product will be fully tested for safety before this point. We will get a better idea of how customers will react to the product and fix any and all issues regarding the quality of the product. We will also be able to assess our marketing strategy.

Commercialization:

Finally, the Kiddie-Neat-Seat will be ready to enter the market. We will have the best product of our kind and work hard to be the leading company for our product against the competition. We will order materials that are needed to produce our product.


× Our product demand will rise when people are educated on the convenience and easy use of the product. We will market toward the stay at home moms, the busy working mothers, restaurants, and daycares. It’s easy clean-up will be its competitive advantage.

×We feel that our product will be very profitable because every mom is going to want one! Every restaurant is going to want the quick and easy clean up for their busy business. Daycares are also going to need the product to maintain the cleanliness of the business. We are using some materials that we currently have in stock, so costs of production will be low, helping us make profits and sell at a lower price to customers.

× The Kiddie-Neat-Seat may cause other current highchair sales to decline, but this product will cost relatively more to purchase it. This is the NEW highchair.

× Current costumers will definitely benefit from this product. It will help parents save time so they can enjoy more time with their children. This product is also very convenient to have for anybody with children.

× This will enhance the image of our marketing mix. This is a fresh, new product that will lead us to a bright future in the industry.

× We will be able to maintain the same number of employees because we are predicting sales of the current highchairs to decline, so we will utilize appropriately.

× We will be able to produce the Kiddie-Neat-Seat right here at our facility, so new facilities will be needed.

× Once competitors know about our new product, we are aware that the competition will try to duplicate our product. We will do our best to stay a step ahead of the competition.

× We are taking a risk with the Kiddie-Neat-Seat and it is a risk that we are willing to take. We have confidence that our customers will love our new product and we think that we will attract many new customers in as well. Out with the old and in with the new.

Welcome to MKTG2 Blog!

Not sure if this is your first time on a blog- I assure you it is user friendly and fun! Browse around and have fun with this project.