Storage For Cars
New-Product Strategy:
Create storage units that are built in under the back of cars. They will take up less room, will cause less clutter, and will have easy access to retrieve stuff from.
Idea Generation:
I came up with this idea from the many times I have traveled with my little cousins. Kids always have lots of things with them, especially on long car trips, to keep them occupied. Having these storage units will especially help partents with younger, it will make travel alittle bit eaiser because they do not have to lug all the childs little things to and from the car, they can leave them stored neatly in the car. These storage unit would be great from anyone who travels alot and needs the extra space.
Idea Screening:
First I would make sure there is no other product like this already out. I have not seen anything exactly like this, but I would want to make sure. I know a lot of people especially with smaller cars would love this because you can always use the extra space when traveling. Plus parents would love this becasue it would make their life a little bit easier.
Business Anaylsis:
What is the likely demand of this product?
I think the demand for this product would be pretty good. The dmeand would mostly likely be highest among parents and frequent travlers. Although anyone that ones a car can find this quite useful.
Would current customers benefit from the product?
Yes, anyone who travels a lot and has limited space, would greatly benefit. Even people who do not travel a lot can still benefit, it is a great place to store things you may need but do not want to clutter up your back seat with.
How might competitors respond?
By installing similar storage units into their cars, maybe different styles or sizes. Something to make their car/storage units look better then others.
What is the risk of failure? Is the company willing to take the risk?
With any new product there is a risk of failure, but with this product I do not feel the risk is too high, which is why companies would be willing to take the risk. This product has a lower risk because it very useful and can be used by one with a car.
Monday, November 30, 2009
"Create-A-Shoe" by Dale Baumes
“Create-A-Shoe”
The affordable way to own multiple pairs of shoes!
I believe that “Create-A-Shoe” is a good name for the product and the company because that is what the company is trying to sell.
New-Product Strategy:
The idea of this group of products is simple. We will sell different components to an everyday dress shoe. This will allow customers to mix and match different soles, or different colors for whatever occasion the client needs. This will make things very affordable for the customer because instead of buying ten different pairs of shoes, one can simply buy whatever color skin they need or whatever type of sole they need at literally half of the price.
Idea Generation:
Well I came up with this particular idea because I am definitely someone who likes footwear and thought there must be a cheaper way to have multiple pairs of dress shoes. There is also a similar product used in the sports world. Someone came up with interchangeable soccer cleats. For men, you generally only have a few different pairs, so ideally this product would be great and they would be able to save a good amount of money. Now for women, on the other hand, the options would be substantially greater from colors, to high or low heels, and as far as the material used for the shoe itself. In the end I feel it could be potentially cheaper for women as well though. Also, both types of shoes would be very durable, and say for instance the sole gets worn through, that is all you would need to replace. You would not have to throw the entire shoe away.
Idea Screening:
Idea screening for this product would not be very difficult. First, I would look in the market for similar products, which I stated above there is something similar in the sports world, and in using the same technology I am sure that a dress shoe would hold up very well. Also, I have talked to many men in the business world who go through shoes like water, and they claim that it would be great to have shoes with interchangeable parts. I mean I still would do much more research to see which market I would break into first, but I think almost any man would use them.
Business Analysis:
What is the likely demand of the product?
The demand for this product would probably be older men and women who have the need for multiple pairs of dress shoes. Any person in the business world or really anyone who has to dress business casual for work would definitely be in the market for our shoes.
What impact would the new product probably have on total sales, profits, market sales and return on investment?
This product is somewhat unique and I think introduction in to the market would be slow and strategic. I would slowly give my product to different people and get feedback and see if there can be any changes made to the product. After all the bugs are taken care of I will slow introduce them into the business world where mostly all sales will come from. Since the product is simply making a product better, I feel many people will be intrigued right from the start and it will not be difficult to sell. Also I will advertise with famous businessmen or famous shoe companies like Nike and use Tiger Woods or Michael Jordan in commercials. The possibilities are endless because I am simply making a commodity better, affordable, and on the cutting edge of technology. This product could last forever and could possibly change the shoe industry in a positive way. Also, since the components of the shoes are not really changing just simply coming together at the customers home. There will be very little costs in production, and be able to put most of the revenues into the products marketing.
How might competitors respond?
I feel that the competition will be very similar to that of the present shoe world. I mean our product is entirely different, but it is still a shoe in the end and people will have to decide which they prefer. Competitors may also try to join in on the new technology which is great for competition because it spurs many new creative ideas and could potentially change our plan in the end. Healthy competition never hurt anyone.
What is the risk of failure? Is the company willing to take the risk?
I do not really see any risk of failure. Worst case scenario is that nobody will be interested in the product and the product will be discontinued and our company will take a hit of a few thousand dollars, that’s business. On the other hand I would do much research on my own and make sure that the money I invest is secure and do whatever it takes to keep the business alive. As I said before production costs should be very low so another option when starting up would be to manufacture what is needed and not have a warehouse full of goods that could potentially not be needed. I feel with the economy the way it is today many will be very interested in saving some money and receiving a quality product with interchangeable parts.
Development:
When it comes to the development end of this particular product should be very cut and dry especially since the product already exist. I mean in theory the product should work wonderfully, but I think developing a women’s line will be slightly more difficult. I think it may be tough making it universal. I think both shoe lines are plausible though, and with some work and research should not take long to develop.
Test Marketing:
Well like I stated before we should start out small and see if people will actually wear and utilize the interchangeable parts of the shoes. Once some research is done we can slowly introduce the product into the business world, where many men and women should like the idea and be happy to wear them. Also, we could give special rates to the first pairs in the market or sell two colors for the price of one.
Commercialization:
I think if everything goes well at the test phase and introduction phase the possibilities are endless for where this product can go. I think potentially we can look globally and sell throughout Europe and Asia. Hopefully we will be able to expand our inventory, and also come out with new technology and a better product as the years go by.
The affordable way to own multiple pairs of shoes!
I believe that “Create-A-Shoe” is a good name for the product and the company because that is what the company is trying to sell.
New-Product Strategy:
The idea of this group of products is simple. We will sell different components to an everyday dress shoe. This will allow customers to mix and match different soles, or different colors for whatever occasion the client needs. This will make things very affordable for the customer because instead of buying ten different pairs of shoes, one can simply buy whatever color skin they need or whatever type of sole they need at literally half of the price.
Idea Generation:
Well I came up with this particular idea because I am definitely someone who likes footwear and thought there must be a cheaper way to have multiple pairs of dress shoes. There is also a similar product used in the sports world. Someone came up with interchangeable soccer cleats. For men, you generally only have a few different pairs, so ideally this product would be great and they would be able to save a good amount of money. Now for women, on the other hand, the options would be substantially greater from colors, to high or low heels, and as far as the material used for the shoe itself. In the end I feel it could be potentially cheaper for women as well though. Also, both types of shoes would be very durable, and say for instance the sole gets worn through, that is all you would need to replace. You would not have to throw the entire shoe away.
Idea Screening:
Idea screening for this product would not be very difficult. First, I would look in the market for similar products, which I stated above there is something similar in the sports world, and in using the same technology I am sure that a dress shoe would hold up very well. Also, I have talked to many men in the business world who go through shoes like water, and they claim that it would be great to have shoes with interchangeable parts. I mean I still would do much more research to see which market I would break into first, but I think almost any man would use them.
Business Analysis:
What is the likely demand of the product?
The demand for this product would probably be older men and women who have the need for multiple pairs of dress shoes. Any person in the business world or really anyone who has to dress business casual for work would definitely be in the market for our shoes.
What impact would the new product probably have on total sales, profits, market sales and return on investment?
This product is somewhat unique and I think introduction in to the market would be slow and strategic. I would slowly give my product to different people and get feedback and see if there can be any changes made to the product. After all the bugs are taken care of I will slow introduce them into the business world where mostly all sales will come from. Since the product is simply making a product better, I feel many people will be intrigued right from the start and it will not be difficult to sell. Also I will advertise with famous businessmen or famous shoe companies like Nike and use Tiger Woods or Michael Jordan in commercials. The possibilities are endless because I am simply making a commodity better, affordable, and on the cutting edge of technology. This product could last forever and could possibly change the shoe industry in a positive way. Also, since the components of the shoes are not really changing just simply coming together at the customers home. There will be very little costs in production, and be able to put most of the revenues into the products marketing.
How might competitors respond?
I feel that the competition will be very similar to that of the present shoe world. I mean our product is entirely different, but it is still a shoe in the end and people will have to decide which they prefer. Competitors may also try to join in on the new technology which is great for competition because it spurs many new creative ideas and could potentially change our plan in the end. Healthy competition never hurt anyone.
What is the risk of failure? Is the company willing to take the risk?
I do not really see any risk of failure. Worst case scenario is that nobody will be interested in the product and the product will be discontinued and our company will take a hit of a few thousand dollars, that’s business. On the other hand I would do much research on my own and make sure that the money I invest is secure and do whatever it takes to keep the business alive. As I said before production costs should be very low so another option when starting up would be to manufacture what is needed and not have a warehouse full of goods that could potentially not be needed. I feel with the economy the way it is today many will be very interested in saving some money and receiving a quality product with interchangeable parts.
Development:
When it comes to the development end of this particular product should be very cut and dry especially since the product already exist. I mean in theory the product should work wonderfully, but I think developing a women’s line will be slightly more difficult. I think it may be tough making it universal. I think both shoe lines are plausible though, and with some work and research should not take long to develop.
Test Marketing:
Well like I stated before we should start out small and see if people will actually wear and utilize the interchangeable parts of the shoes. Once some research is done we can slowly introduce the product into the business world, where many men and women should like the idea and be happy to wear them. Also, we could give special rates to the first pairs in the market or sell two colors for the price of one.
Commercialization:
I think if everything goes well at the test phase and introduction phase the possibilities are endless for where this product can go. I think potentially we can look globally and sell throughout Europe and Asia. Hopefully we will be able to expand our inventory, and also come out with new technology and a better product as the years go by.
Sunday, November 29, 2009
"Digi-Wall" Michael Rogers
(Digital Wall Planner)
I believe that “Digi-Wall” is a good choice in a name because it makes the product seem advanced and technical.
New-product Strategy
Create and sell a digital wall planner. This device uses the technology that SMART boards and Digital Frames use. It allows you to upload plans, images, or papers to be displayed through a monitor on the wall. This product uses low scale technology and is affordable.
Idea generation
I bought a regular erasable marker whiteboard for my room to create a simple to-do list and stay organized. I can’t stand it because it’s usually sloppy and really doesn’t present my list of goals in an attractive form. I believe that it would be much better to have a board that you can simply upload data that you have created from your computer (putting it on a thumb drive and then attaching it to the Digital Wall Planner or possibly in the future sending it wirelessly).
Idea screening
Idea screening for this product would include a couple of things. First of all we would need to see if this product has been created already. Through my research I have found a couple items that do the same thing but in different ways. I would want my product to be more customized, I would want it consume less energy and be very affordable. I’ve asked a couple of people if they would be interested and this does seem unfavorable unless the person is into technology considering the responses I got.
Business Analysis
· What is the likely demand for this product?
The demand for this product comes from college students and employees that deal with a large work flow. Anyone that deals with technology on a day to day basis will want this product because they most likely surround themselves with technology.
· What impact would the new product probably have on total sales, profits, market sales, and return on investment?
This product would do well with sales because of Christmas coming up. It is a cheap product that looks expensive. This is a product that will sell well to college students trying to impress their friends. The return on investment will not be high unless the product has high sales. The lifespan of this product isn’t that long because it will be outdated within a year and also re-engineered.
· How might competitors respond?
Competitors will respond by creating cheaper products that do the same thing. They will also start looking for options that customers would like down the road.
· What is the risk of failure? Is the company willing to take the risk?
The risk of failure is that no one really wants the product and it will be removed from the shelves. This is an all or nothing product so it’s a very risky investment. But the economy is hurting which may help the company sell their product because it is a cheap technological gift.
Development
The development of this product would include using existing technology and simplifying it. By using the same technology Digital Frames use it would be realistic to create this product. It is basically a larger Digital Frame with a couple more options.
Test Marketing
The way we would test the marketing of this product is by starting out selling it to business corporations and colleges. If it sells well at these locations it should do well in stores.
Commercialization
If everything went well at the corporations and colleges we would put this item on the market. We would set on a certain number of products to sell at first them hopefully extend our inventory.
I believe that “Digi-Wall” is a good choice in a name because it makes the product seem advanced and technical.
New-product Strategy
Create and sell a digital wall planner. This device uses the technology that SMART boards and Digital Frames use. It allows you to upload plans, images, or papers to be displayed through a monitor on the wall. This product uses low scale technology and is affordable.
Idea generation
I bought a regular erasable marker whiteboard for my room to create a simple to-do list and stay organized. I can’t stand it because it’s usually sloppy and really doesn’t present my list of goals in an attractive form. I believe that it would be much better to have a board that you can simply upload data that you have created from your computer (putting it on a thumb drive and then attaching it to the Digital Wall Planner or possibly in the future sending it wirelessly).
Idea screening
Idea screening for this product would include a couple of things. First of all we would need to see if this product has been created already. Through my research I have found a couple items that do the same thing but in different ways. I would want my product to be more customized, I would want it consume less energy and be very affordable. I’ve asked a couple of people if they would be interested and this does seem unfavorable unless the person is into technology considering the responses I got.
Business Analysis
· What is the likely demand for this product?
The demand for this product comes from college students and employees that deal with a large work flow. Anyone that deals with technology on a day to day basis will want this product because they most likely surround themselves with technology.
· What impact would the new product probably have on total sales, profits, market sales, and return on investment?
This product would do well with sales because of Christmas coming up. It is a cheap product that looks expensive. This is a product that will sell well to college students trying to impress their friends. The return on investment will not be high unless the product has high sales. The lifespan of this product isn’t that long because it will be outdated within a year and also re-engineered.
· How might competitors respond?
Competitors will respond by creating cheaper products that do the same thing. They will also start looking for options that customers would like down the road.
· What is the risk of failure? Is the company willing to take the risk?
The risk of failure is that no one really wants the product and it will be removed from the shelves. This is an all or nothing product so it’s a very risky investment. But the economy is hurting which may help the company sell their product because it is a cheap technological gift.
Development
The development of this product would include using existing technology and simplifying it. By using the same technology Digital Frames use it would be realistic to create this product. It is basically a larger Digital Frame with a couple more options.
Test Marketing
The way we would test the marketing of this product is by starting out selling it to business corporations and colleges. If it sells well at these locations it should do well in stores.
Commercialization
If everything went well at the corporations and colleges we would put this item on the market. We would set on a certain number of products to sell at first them hopefully extend our inventory.
Monday, November 23, 2009
Lisa Lowe Calorie Intake Counter
Problem- I need a better product to count my daily calorie intake. There are internet sites that I have used in the past but I don't have access to a computer at all times. There is also an App on the Iphone to count calories but I don't have a few hundred dollars to spend on a phone and then pay extra for the App.
Idea- A hand held product that will look like a blackberry or an Iphone just without all the technology.
Business Analysis (Questions page 151)
What is the likely demand for this product?
I believe that both men and women who exercise and want to keep track of their daily calorie intake will purchase a product like this.
What impact would the new product have on total sales/profits?
I believe that this product would do well with people who need a better solution to counting calories. The product just needs to be at the right price.
Would current customer benefit from the product?
I think the customer would benefit from it. They can check to see how many calories they are actually taking in on a daily basis. Some of them would probably be shocked. The Iphone does have an App for you calories but you need to pay extra for it.
Would the product enhance the image of a company's overall product mix?
Yes
Would the new product affect current employees in any way?
I don't think the new product would affect current employees because if they have the Iphone and decide to purchase this product they still need to use their phone for everything else.
How might competitors respond?
A competitor can change the product to work differently can change the product or add a simple detail and sell it at a cheaper price.
What is the rick of failure?
There is always a risk for a new product but that is the chance you will have to take.
Idea- A hand held product that will look like a blackberry or an Iphone just without all the technology.
Business Analysis (Questions page 151)
What is the likely demand for this product?
I believe that both men and women who exercise and want to keep track of their daily calorie intake will purchase a product like this.
What impact would the new product have on total sales/profits?
I believe that this product would do well with people who need a better solution to counting calories. The product just needs to be at the right price.
Would current customer benefit from the product?
I think the customer would benefit from it. They can check to see how many calories they are actually taking in on a daily basis. Some of them would probably be shocked. The Iphone does have an App for you calories but you need to pay extra for it.
Would the product enhance the image of a company's overall product mix?
Yes
Would the new product affect current employees in any way?
I don't think the new product would affect current employees because if they have the Iphone and decide to purchase this product they still need to use their phone for everything else.
How might competitors respond?
A competitor can change the product to work differently can change the product or add a simple detail and sell it at a cheaper price.
What is the rick of failure?
There is always a risk for a new product but that is the chance you will have to take.
Sunday, November 22, 2009
Kim Jasikoff-The Remote Light Switch
Kim Jasikoff “The Remote Light Switch”
Turn your lights on from the safety of your car.
Problem-New Product Strategy
The problem I though of was when I pull up to my dark house I night I just hate going inside with the house so dark and walking across the room to turn a light on. So my solution is to create remote light switch to turn the lights on in my house from my car when I pull into the drive way.
Idea Screening
To create a remote a lot like a guarged door opener that can turn on lights inside. This would most likely be linked to a box inside that would be a lot like a three way switch in must homes and flick the designated lights on when the remote is hit. It could also control exterior lights as well. I would need to make sure there weren’t any patents already in existence. This product could be made in many ways and I would really have to determine how user friendly I would want to make this product.
Business Analysis (Questions pg 151)
What is the likely demand for this product?
I believe must women that either live alone or go home to an empty house would be a definite candidate for this product.
What impact would the new product have on total sales/ profits?
I think this product could do very well as long as it is inexpensive and easy to install.
Would current customer benefit from the product?
Yes, their really isn’t many products that I know that are like this so this many have a lot of market potential.
Would the product enhance the image of the company’s overall product mix?
Yes this would be an original product that would be different from anything the company offers.
Would the new product affect current employees in any way?
This product could be produced by any manufacturing company that currently makes remotes for garage doors so it would effect any current employees and would effect them in the knowledge or training they need.
How might competitors respond?
Competitors would try and make a similar product or something that may be more effective at solving the consumer’s problems
What is the risk of failure?
There is probably I high risk of failure since this is a new product that has no market penetration or banding. It will depend highly on marketing to get the work out about this product and get consumers to find this product and realizes they need one.
Turn your lights on from the safety of your car.
Problem-New Product Strategy
The problem I though of was when I pull up to my dark house I night I just hate going inside with the house so dark and walking across the room to turn a light on. So my solution is to create remote light switch to turn the lights on in my house from my car when I pull into the drive way.
Idea Screening
To create a remote a lot like a guarged door opener that can turn on lights inside. This would most likely be linked to a box inside that would be a lot like a three way switch in must homes and flick the designated lights on when the remote is hit. It could also control exterior lights as well. I would need to make sure there weren’t any patents already in existence. This product could be made in many ways and I would really have to determine how user friendly I would want to make this product.
Business Analysis (Questions pg 151)
What is the likely demand for this product?
I believe must women that either live alone or go home to an empty house would be a definite candidate for this product.
What impact would the new product have on total sales/ profits?
I think this product could do very well as long as it is inexpensive and easy to install.
Would current customer benefit from the product?
Yes, their really isn’t many products that I know that are like this so this many have a lot of market potential.
Would the product enhance the image of the company’s overall product mix?
Yes this would be an original product that would be different from anything the company offers.
Would the new product affect current employees in any way?
This product could be produced by any manufacturing company that currently makes remotes for garage doors so it would effect any current employees and would effect them in the knowledge or training they need.
How might competitors respond?
Competitors would try and make a similar product or something that may be more effective at solving the consumer’s problems
What is the risk of failure?
There is probably I high risk of failure since this is a new product that has no market penetration or banding. It will depend highly on marketing to get the work out about this product and get consumers to find this product and realizes they need one.
Friday, November 20, 2009
"Magnetic Window Blinds For Steel Doors" Maria Young
New Product Strategy
To create a magnetic blind that don't require drilling wholes in a steel door. Unlike blinds today you have to drill wholes in the door and it is very time consuming, also drilling through steel is hard.Imagine the elegance of mini blinds without the hassle of drilling holes in your steel doors.Magnetic Mini Blinds are easy to use and beautiful to look at.
Idea Generation
I bought a steel door with a window in it. Didn't want to put wholes in my new door. Went to walmart all they had was a magnetic curtain rod. Bought the magnetic curtain rod and two different curtains that don't match because the curtain for my window requires a bigger size then the door. I said to my self it would make since if they just sold a magnetic blind.
Idea Screening
Produce the idea research if there's a patent already in existence. Survey People that have steel doors to see what there inputs are on the new product ask them if they would use the magnetic blind on there steel door and there opinion on the new product being offered.What parts will be magnetic? will this product require no drilling? will this product be hassle free?
Business Analysis (Questions pg 151)
What is the likely demand for this product?
This product would be wanted by people who have steel doors for there homes. People that are bothered by there curtains not matching.
What impact would the new product have on total sales/ profits?
I think the product would do well there is an increase in steel doors for homes rather than wood doors.
Would current customer benefit from the product?
Magnetic window blinds offer the beauty, privacy and convenience of regular mini blinds without the permanent holes in your steel door.
Magnetic window blinds work just like standard mini blinds.
Magnetic Mini Blinds require minimal installation.
Would the product enhance the image of the company’s overall product mix?
Yes
Would the new product affect current employees in any way?
This wouldn't be a new product it is just simply making magnetic brackets for the blinds instead of the brackets you have to drill in the door. New training techniques on how to make the new brackets and fitting it in the manufacturing schedule.
How might competitors respond?
They might try to produce the same product either cheaper or more expensive so there is going to be competition.
What is the risk of failure?
There is always risk you have to take but, the window blinds company I think would benefit now there satisfying all there customers.
To create a magnetic blind that don't require drilling wholes in a steel door. Unlike blinds today you have to drill wholes in the door and it is very time consuming, also drilling through steel is hard.Imagine the elegance of mini blinds without the hassle of drilling holes in your steel doors.Magnetic Mini Blinds are easy to use and beautiful to look at.
Idea Generation
I bought a steel door with a window in it. Didn't want to put wholes in my new door. Went to walmart all they had was a magnetic curtain rod. Bought the magnetic curtain rod and two different curtains that don't match because the curtain for my window requires a bigger size then the door. I said to my self it would make since if they just sold a magnetic blind.
Idea Screening
Produce the idea research if there's a patent already in existence. Survey People that have steel doors to see what there inputs are on the new product ask them if they would use the magnetic blind on there steel door and there opinion on the new product being offered.What parts will be magnetic? will this product require no drilling? will this product be hassle free?
Business Analysis (Questions pg 151)
What is the likely demand for this product?
This product would be wanted by people who have steel doors for there homes. People that are bothered by there curtains not matching.
What impact would the new product have on total sales/ profits?
I think the product would do well there is an increase in steel doors for homes rather than wood doors.
Would current customer benefit from the product?
Magnetic window blinds offer the beauty, privacy and convenience of regular mini blinds without the permanent holes in your steel door.
Magnetic window blinds work just like standard mini blinds.
Magnetic Mini Blinds require minimal installation.
Would the product enhance the image of the company’s overall product mix?
Yes
Would the new product affect current employees in any way?
This wouldn't be a new product it is just simply making magnetic brackets for the blinds instead of the brackets you have to drill in the door. New training techniques on how to make the new brackets and fitting it in the manufacturing schedule.
How might competitors respond?
They might try to produce the same product either cheaper or more expensive so there is going to be competition.
What is the risk of failure?
There is always risk you have to take but, the window blinds company I think would benefit now there satisfying all there customers.
Thursday, November 19, 2009
"The Fannie" Chris Cercone
“The Fannie”Fan cleaning wand vacuum attachment
Idea Generation
Problem: Ceiling fan blades get dirty, since most of the dirt and dust are concentrated on the top of the blades where it is hard to see, we tend to put off dusting these areas. There are currently products on the market to help with this problem however, they are typically very rickety, hard to maneuver, and the dust will usually fall in your face.
Idea Screening
Why did I think of this idea? One day while performing my husbandly duty of dusting the living room where we have three ceiling fans I figured it was time for the semi-annual fan cleaning. While standing on a chair with a broomstick fan cleaning wand in hand I proceeded to clean the blade, I was instantly peppered in the face with a herd of dust bunnies. After some cursing, and wiping my eyes, I thought “this wand sucks”. By George I’ve got it! Can’t someone make a fan cleaning wand that extends, and attaches to your shop-vac? And well made too. After some research I found that there are no companies that make such product.
Business Analysis (Questions from page 151)
What is the likely demand for this product?
I believe this product would be wanted by any household that has ceiling fans, especially fans that are higher and out of reach. People with allergies would have a better, cleaner, and safer way to rid themselves of dust.
What impact would the new product have on total sales/ profits?
I believe that the Fannie would definitely be welcomed and the innovation is cutting edge as there are no others like it.
Would current customer benefit from the product?
Yes, while people are in cleaning mode they can easily attach the Fannie and quickly clean stubborn fan blades that are typically left un-cleaned because of the amount of time and effort entailed.
Would the product enhance the image of the company’s overall product mix?
Yes
Would the new product affect current employees in any way?
This would be a new company so if the demand for the Fannie was sufficient enough that I could not meet the public demand, I would have to hire employees to help manufacture. If the demand required, I would open a facility in an opportunity zone to defer property taxes and benefit from the incentives offered by the local community.
How might competitors respond?
With the success of the product I believe that there would be competition. Other manufacturers would have to be competitive in order to try and retain their customer base.
What is the risk of failure?
As with any product or company there is always a risk. I would start small with internet and catalog orders only at first, and if interest is sparked base projections accordingly.
Idea Generation
Problem: Ceiling fan blades get dirty, since most of the dirt and dust are concentrated on the top of the blades where it is hard to see, we tend to put off dusting these areas. There are currently products on the market to help with this problem however, they are typically very rickety, hard to maneuver, and the dust will usually fall in your face.
Idea Screening
Why did I think of this idea? One day while performing my husbandly duty of dusting the living room where we have three ceiling fans I figured it was time for the semi-annual fan cleaning. While standing on a chair with a broomstick fan cleaning wand in hand I proceeded to clean the blade, I was instantly peppered in the face with a herd of dust bunnies. After some cursing, and wiping my eyes, I thought “this wand sucks”. By George I’ve got it! Can’t someone make a fan cleaning wand that extends, and attaches to your shop-vac? And well made too. After some research I found that there are no companies that make such product.
Business Analysis (Questions from page 151)
What is the likely demand for this product?
I believe this product would be wanted by any household that has ceiling fans, especially fans that are higher and out of reach. People with allergies would have a better, cleaner, and safer way to rid themselves of dust.
What impact would the new product have on total sales/ profits?
I believe that the Fannie would definitely be welcomed and the innovation is cutting edge as there are no others like it.
Would current customer benefit from the product?
Yes, while people are in cleaning mode they can easily attach the Fannie and quickly clean stubborn fan blades that are typically left un-cleaned because of the amount of time and effort entailed.
Would the product enhance the image of the company’s overall product mix?
Yes
Would the new product affect current employees in any way?
This would be a new company so if the demand for the Fannie was sufficient enough that I could not meet the public demand, I would have to hire employees to help manufacture. If the demand required, I would open a facility in an opportunity zone to defer property taxes and benefit from the incentives offered by the local community.
How might competitors respond?
With the success of the product I believe that there would be competition. Other manufacturers would have to be competitive in order to try and retain their customer base.
What is the risk of failure?
As with any product or company there is always a risk. I would start small with internet and catalog orders only at first, and if interest is sparked base projections accordingly.
Subscribe to:
Comments (Atom)