"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 The lifespan of this product isn’t that long because it will be outdated within a year and also re-engineered.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.