Sunday, October 10, 2010
Brian Burns: The Tangle Free Electronic Wire
Problem: Take a look at any (or every) wire on the electronics you own. They are always tangled up into knots that form even when you haven't even touched the wires. Removing these knots is extremely tedious and time consuming. All people want to do is play a video game or listen to music, and they first have to spend time to deal with the annoyance of tangled wires.
Solution: Develop a line of electronic wires that resist tangling. This will be done by putting an electromagnetic charge through the wires which will cause them to resist each other. If the wires are designed to stay apart, there will be no tangling. Some may say why not just make everything wireless? I'm sure that will eventually be the answer but until that technology is developed, there is a huge opportunity here to seize a large portion of the market with this new development in the electronics industry.
Development Journal: I was riding in the car on the way to a football game and reached into my bag to get my ipod so I could listen to some music and maybe play a game or two. I was dissapointed to find that my headphones were wrapped into a tight knot. I spent way more time than I would have liked untangling this know and I realized this was always something that annoyed me. I thought, why haven't we come up with a way to prevent this from happening? This frustration ended up being the genesis for this idea.
New-Product Strategy: The overall product strategy is to make an aspect of the electronics easier to use, and more customer friendly. This product will certainly achieve that. However, it is only the beginning. Electronics is an industry that is constantly evolving and our products will evolve with it. Through our engineering and research/development department, our company will continue to make improvements on each and every innovation the market provides. This product strategy is consistent with our companies marketing strategy because we stress innovation, improvement, and convenience. We are looking to make a huge splash in the electronics market with this cutting edge product.
Idea Generation: This product idea is born from the need customers have to make electronics simpler. For this project, the idea came from my own needs and wants, however, if a company were to use customer surveys, polling employees, asking electronics distributors, and consultants, they would probably come up with a similar idea. Our competitors, no doubt, also realize the need for this product so it is important to "beat them to the punch" with this idea.
Idea Screening: I am confident this product would get through the process of idea screening with ease. By conducting internet reasearch, it is easy to see that many people share my frustration with tangled wires. One problem we run into is how do we screen this product without tipping off our competitors that we aim to release it? Concept tests will prove difficult. Perhaps we could use very general questions for consumers early on in the process such as what are your main concerns with the wiring on your devices? Or, what bothers you most about your electronics. Right before we are prepared to release the product, we would follow up with more detailed descriptions and visual tools for the consumers to react to. This should give us an idea of whether or not our product passes the screening.
Business Analysis: I believe the demand for this product will be enormous and will very positively affect the sales, and profits of our company. We are aiming to realease this product first so we look to control a large portion of the electronics wiring market. This would includeseveral sub-markets such as, but not limited to, headphones, gaming controllers, computer wires, and electronic adapters. This product will definitely cannabilize our curent electronic wiring products but we are prepared to slowly phase them out as the demand for the new product overtakes demand for the old. As i said above, our focus is on constant innovation and improvements so we believe we can seamlessly move from old to new. Customers would definitely benefit from this convenenient product and will react positively. This will help the image of our company, and help us establish ourselves as industry leader in innovation. We should be able to make this product in our current facilities, with only a small change in employee staff. We will need some new employees familiar with the technology that is going into this product. Because of the anticipated success, we don't anticipate any layoffs or downsizing. Our competitors will likely try to jump on this product very quickly, which is why it is important to release it first and establish favorable distribution agreements with companies who will want to use our product. Companies like Apple, Microsoft, Sony, Samsung, and Dell would be examples of the people we need on our side. With any product there is risk, and the risk here is significant. If for some reason our technology fails after release and wires start to tangle again, we will have failed. That is why our development, and testing must be flawless.
Development: Our R/D department will develop a prototype so we can determine the cost, and efficiency of producing our anti-tangling wires. We will also work on the branding, packaging, and labeling of our product. We are a modern company aimed at innovation and convenience so we want our brand to reflect that. We want the colors, lettering, and image of our products to differentaite themselves from the rest of the market. No boring computer wire packaging or headphone packaging. This is a brand new product that will change the way people think about electronic wiring. We need to reflect that. Shiny metallic packaging will be used with bold lettering that will announce our products presence. Maybe a slogan such as "Leave science to the scientists..Hard to develop, easy to use". We will release early advertising of our product to magazines, televisions, and electronics stores. We aim to release the product at a major electronics tradeshow at which time, we will display how our product works in tandem with the devices from other companies which we have entered into agreement with. The price will be set a higher than that of the current technology and will be adjusted accordingly as time goes by. Finally, we anticipate heavy demand, so distribution will also be heavy. All electronics stores, music stores, gaming stores, and most every retailer will receive this product. It will be included in products like Ipods, Playstations, computers, and televisions. However, we require that our brand is recognized on the packaging for these items because we believe we are providing essential hardware to these companies.
Test-Marketing: I have chosen to use simulated market testing for this product. First of all, we do not want this idea leaking out to our competitors. secondly, we want our test marketing to be cost-effective, and relatively fast. We will emply research firms to find focus-groups or mock shoppers to test our products on. Everyone will be compensated for their involvement but will also be required to sign a non-disclosure agreement which will be drawn up by our legal department. We hope this prevents any leaking of information.
Commercialization: This is the stage we have been working towards. At this point, we will have our new staff in place, our new materials will be shipped to us, and will have been tested, and we will have started production. After releasing the product at the trade show mentioned above, we will ship to all distributors. The companies that are using our hardware will also be authorized to release their products that contain our technology. We will put our advertising campaign into full force and hope to mentioned in other companies ads. We will submit our product to websites, magazines, and bloggers for reviews. We anticipate success based on our commitment to customers, and new product development. Our advertising must reflect our excitement and make the customers as excited as we are.
Friday, October 8, 2010
Autumn Johnson - - The Cabinet Self Organizer
Problem: Time spent organizing cabinets/cupboards
Solution: The Cabinet Self Organizer – Mechanism that organizes cabinets or cupboards for you
New-product strategy: The Cabinet Organizer is a self organizing mechanism that will organize your cupboards or cabinets for you. Every parent or housekeeper has experienced the annoyance of making sure the cabinets/cupboards are clean and organized. The Self Organizer would be a remote control that automatically shifted the dishes to where they’re suppose to be. The main purpose of the product is to decrease the time it takes to put dishes away, organize and also cuts back on the mess. All you need to do is active the remote to a device that gets installed into the cabinet and press whichever organize button you would like. All you need for this to work is to make sure the mechanism is installed into whichever set of cupboards and that the remote is charged.
Idea Generation: I would absolutely love a product like this. I spend hours organizing cupboards and cabinets and with just one click of a button it could all be done for me, that would great. I would have more time to spend with my little one and more time on other things that need to be concentrated on.
Idea Screening: I believe this product would be an increasing seller. I also think it would do extremely well on any product testing it would have to go through.
Business Analysis: If there are any busy, stressed, no time parents or housekeepers out there that are anything like me, the product demand would be high. The pricing for the product would be medium, there would have to be money made from the product so whatever money goes into making the product the price would be slightly higher. The product itself is going to save you time and stress; it’s one less thing you have to worry about being messy and out of order.
Development: The Cabinet Self Organizer would be a light and easy to store. Place the mechanism somewhere in the cabinet and the remote display on the wall somewhere. The product's branding is necessary to its identification, The Cabinet Self Organizer. It's labeling is just as important therefore a persuasive logo will be given to the product.
Test Marketing: The product would be advertised online, television, radio stations even flyers before hand to get input on what people think of it after that it would be sold in Walmart, Kmart, Sears, Target, any stores that are similar.
Commercialization: Once I get the input on the product, we would start order materials and get down to business in the factories at making our product to be the best that it can be.
Solution: The Cabinet Self Organizer – Mechanism that organizes cabinets or cupboards for you
New-product strategy: The Cabinet Organizer is a self organizing mechanism that will organize your cupboards or cabinets for you. Every parent or housekeeper has experienced the annoyance of making sure the cabinets/cupboards are clean and organized. The Self Organizer would be a remote control that automatically shifted the dishes to where they’re suppose to be. The main purpose of the product is to decrease the time it takes to put dishes away, organize and also cuts back on the mess. All you need to do is active the remote to a device that gets installed into the cabinet and press whichever organize button you would like. All you need for this to work is to make sure the mechanism is installed into whichever set of cupboards and that the remote is charged.
Idea Generation: I would absolutely love a product like this. I spend hours organizing cupboards and cabinets and with just one click of a button it could all be done for me, that would great. I would have more time to spend with my little one and more time on other things that need to be concentrated on.
Idea Screening: I believe this product would be an increasing seller. I also think it would do extremely well on any product testing it would have to go through.
Business Analysis: If there are any busy, stressed, no time parents or housekeepers out there that are anything like me, the product demand would be high. The pricing for the product would be medium, there would have to be money made from the product so whatever money goes into making the product the price would be slightly higher. The product itself is going to save you time and stress; it’s one less thing you have to worry about being messy and out of order.
Development: The Cabinet Self Organizer would be a light and easy to store. Place the mechanism somewhere in the cabinet and the remote display on the wall somewhere. The product's branding is necessary to its identification, The Cabinet Self Organizer. It's labeling is just as important therefore a persuasive logo will be given to the product.
Test Marketing: The product would be advertised online, television, radio stations even flyers before hand to get input on what people think of it after that it would be sold in Walmart, Kmart, Sears, Target, any stores that are similar.
Commercialization: Once I get the input on the product, we would start order materials and get down to business in the factories at making our product to be the best that it can be.
Friday, May 7, 2010
The "Easy Grab" Grocery Bag-John Mottola
Problem: Excessive wasted plastic bags due to tearing, inability to open and difficulty seperating.
Solution: Develop a plastic grocery bag composed of properties which removes all static electricity therefore reducing tearing, man hours, and waste.
New-product Strategy: We all have been to the grocery store and witnessed the cashier struggling to open the next bag. In the context of one cashier this may seem meaningless. However, in the grand scheme of a large retailer such as Wal-Mart, the man hours lost trying to bag groceries can add up to a significant amount. A larger issue this product can address is the waste factor due to excessive loss of product. Employees and customers alike have grabbed handfuls of extra bags when it is to difficult to seperate them only to throw them out.
Idea Generation: As a consumer I am concerned about the environment. The idea of minimizing waste and excessive man hours is appealing. This concept would also be utilized in the promotion process to the large retailers.
Business Analysis: Demand for the product should be high amongst all retailers. The new product can help their bottom line and profits. Introduction would be rather easy as the retailer has all control over the products they use in their locations. The new product would affect employess making their job easier. Risk is minimal at best, and the overall cost should be minimal.
Development: Create a prototype and Introduce at trade seminars. The marketing concept should be aimed at the "green" aspects of the new bag - less waste and environmental impact.
Test Marketing: Limited introduction through a well known retailer at their busiest locations. Offer new grocery bags at a discounted or free rate in exchange for the retailer's(our customer) input and data. Give the retailer the freedom to experiment with the product openly.
Commercialization: The decision to market the "Easy Grab" Grocery bag is based on the success of the previous steps in the new product development process. Ordering production materials and equipment to mass produce the grocery bags will begin along with creating the proper distribution channels to move the product.
Solution: Develop a plastic grocery bag composed of properties which removes all static electricity therefore reducing tearing, man hours, and waste.
New-product Strategy: We all have been to the grocery store and witnessed the cashier struggling to open the next bag. In the context of one cashier this may seem meaningless. However, in the grand scheme of a large retailer such as Wal-Mart, the man hours lost trying to bag groceries can add up to a significant amount. A larger issue this product can address is the waste factor due to excessive loss of product. Employees and customers alike have grabbed handfuls of extra bags when it is to difficult to seperate them only to throw them out.
Idea Generation: As a consumer I am concerned about the environment. The idea of minimizing waste and excessive man hours is appealing. This concept would also be utilized in the promotion process to the large retailers.
Business Analysis: Demand for the product should be high amongst all retailers. The new product can help their bottom line and profits. Introduction would be rather easy as the retailer has all control over the products they use in their locations. The new product would affect employess making their job easier. Risk is minimal at best, and the overall cost should be minimal.
Development: Create a prototype and Introduce at trade seminars. The marketing concept should be aimed at the "green" aspects of the new bag - less waste and environmental impact.
Test Marketing: Limited introduction through a well known retailer at their busiest locations. Offer new grocery bags at a discounted or free rate in exchange for the retailer's(our customer) input and data. Give the retailer the freedom to experiment with the product openly.
Commercialization: The decision to market the "Easy Grab" Grocery bag is based on the success of the previous steps in the new product development process. Ordering production materials and equipment to mass produce the grocery bags will begin along with creating the proper distribution channels to move the product.
Thursday, May 6, 2010
Phosphate Fertilizer
Phosphate minerals are a vital and essential natural resource which is dwindling every day. Phosphates are used as fertilizers in modern agriculture. They are absolutely necessary as they are a basic component to all life, and the people of the world could not be fed without it.
There is a problem however; supplies are running out. At current rates of use (which are only expected to rise) the
One company, Ostara Nutrient Recovery Technologies, has already taken steps to mitigate the loss of phosphate by extracting phosphates along with other minerals from the urine in wastewater and producing a phosphate fertilizer from it. While this is a great and ultimately necessary first step, more will have to be done if the world’s food supply is to be maintained.
The product I propose is similar to Ostara’s, however in addition to the minerals extracted from urine, an additional phosphate source will be added in my product which was overlooked in Ostara’s. The additional phosphate source in my product is animal waste, specifically the bones of cattle, poultry, and even fish, which are very rich in both phosphate and calcium, two essential minerals for plants. Normally, the animals extract these minerals from the land, but the minerals are usually not returned to cropland after the animal is slaughtered. This product would lead to an agricultural future which is more sustainable, and a world which is less hungry.
Furthermore, this is a product which is very green. By recycling phosphate minerals, many environmental hazards are mitigated. For example, using my product, phosphate fertilizers can be provided locally, rather than having to be shipped from the phosphate mines in
It is a product which is profitable, necessary, sensible, sustainable, and green.
Wednesday, May 5, 2010
Parking Space Navigator
The Parking Space Navigator is a convenient add-on for mobile devices and navigation systems that finds parking spaces for you. You will no longer have to drive around the block or continuously drive through row after row of parking spaces, looking for the ideal spot. This product will automatically locate an empty space for you. You won't need to worry about other drivers with the same device competing for the same spots with you either! All devices coordinate via satellite and parking spaces are allotted on a first come, first serve basis. The product would be available via electronic distribution, available to download to smart phones, laptops, GPS navigation systems, or other portable devices with GPS capability. The initial download of the application would have a flat cost, plus a monthly fee for use; discounts would be available for those that purchase an entire year subscription; special deals would also be available to those who purchase new GPS units or cell phones.
1.) What is the likely demand for the product?
This product is highly beneficial to those living and/or working in busy cities and towns and also for those who want to find the closest parking space at a shopping mall or department store. This product would have enormous demand, especially from those who need to park and get to work quickly, tired workers trying to get home for the day to relax, eager shoppers trying to get the closest spot or to get in the door quickly to pick up a hot item, and even college students on a busy campus trying to get to class quickly.
2.) What impact would the new product probably have on total sales, profits, market share, and return on investment?
As this product is an innovation new to the market, its market share would be 100% until other companies develop a model of their own. Total sales for the company would be significantly boosted; profits would also be at a maximum because there is little cost to distribute the product and minimal maintenance necessary to keep the system running. Return on investment would also be high, as its development costs and satellite launching costs would be quickly surpassed because of high demand.
3.) How would the introduction of the product affect existing products? Would the new product cannibalize existing products?
This product would likely increase the demand for existing products, such as GPS units and smart phones, as they would have yet another convenient use. There are no products on the market that would be cannibalized.
4.) Would current customers benefit from the product?
As a new company, our customer base would be built from scratch, though for companies that offer our product as an addition to theirs, their existing customers would benefits highly from our product.
5.) Would the product enhance the image of the company's overall product mix?
This product would be the first product in the company's line. The company could produce its own GPS units in the future as a way to extend the mix.
6.) Would the new product affect current employees in any way? Would it lead to increasing or reducing the size of the workforce?
The company would have very few employees, as the product has electronic distribution and little maintenance requirements.
7.) What new facilities, if any, would be needed?
The only "facility" that would be needed is a satellite. A business office would not necessarily be needed, as the company could easily be run from a home office.
8.) How might competitors respond?
There would be no competitors at first as the product idea is new to the market. Many competitors would likely spring up over the years as they see the product doing well; the competitors would likely be GPS manufacturers and cell phone and internet providers.
9.) What is the risk of failure? Is the company willing to take the risk?
The risk of failure is minimal, as the product would offer a significant usefulness to consumers.
1.) What is the likely demand for the product?
This product is highly beneficial to those living and/or working in busy cities and towns and also for those who want to find the closest parking space at a shopping mall or department store. This product would have enormous demand, especially from those who need to park and get to work quickly, tired workers trying to get home for the day to relax, eager shoppers trying to get the closest spot or to get in the door quickly to pick up a hot item, and even college students on a busy campus trying to get to class quickly.
2.) What impact would the new product probably have on total sales, profits, market share, and return on investment?
As this product is an innovation new to the market, its market share would be 100% until other companies develop a model of their own. Total sales for the company would be significantly boosted; profits would also be at a maximum because there is little cost to distribute the product and minimal maintenance necessary to keep the system running. Return on investment would also be high, as its development costs and satellite launching costs would be quickly surpassed because of high demand.
3.) How would the introduction of the product affect existing products? Would the new product cannibalize existing products?
This product would likely increase the demand for existing products, such as GPS units and smart phones, as they would have yet another convenient use. There are no products on the market that would be cannibalized.
4.) Would current customers benefit from the product?
As a new company, our customer base would be built from scratch, though for companies that offer our product as an addition to theirs, their existing customers would benefits highly from our product.
5.) Would the product enhance the image of the company's overall product mix?
This product would be the first product in the company's line. The company could produce its own GPS units in the future as a way to extend the mix.
6.) Would the new product affect current employees in any way? Would it lead to increasing or reducing the size of the workforce?
The company would have very few employees, as the product has electronic distribution and little maintenance requirements.
7.) What new facilities, if any, would be needed?
The only "facility" that would be needed is a satellite. A business office would not necessarily be needed, as the company could easily be run from a home office.
8.) How might competitors respond?
There would be no competitors at first as the product idea is new to the market. Many competitors would likely spring up over the years as they see the product doing well; the competitors would likely be GPS manufacturers and cell phone and internet providers.
9.) What is the risk of failure? Is the company willing to take the risk?
The risk of failure is minimal, as the product would offer a significant usefulness to consumers.
Monday, May 3, 2010
Rebecca Burgess- Light Scents
Problem- no place to plug-in scented air fresheners
Solution- Light Scents light bulb air freshener
New-product strategy: Light scents are scented light bulbs which the consumer may use anywhere in the house. Many people want to have fresh scents throughout their home but lack sufficient electrical outlets for things such as Plug-Ins. Another problem with plug-in air fresheners is that they have to be removed when you want to vacuum or use the hair dryer if there isn’t an additional outlet available. Often times when the plug-in is removed we forget to replace it when we are done with the hair dryer, vacuum, etc. Light scents come in a variety of scents and wattage. Therefore, they can be used in any type of light and in any room of the house. This leaves all the electrical outlets free without the hassle of removing plug-ins when you want to vacuum. Another benefit is that Light Scents work only when the light has been turned on. This way you enjoy the fresh scent only when you are home. Plug-Ins are constantly on even when no one is home. What is the point of that? Light scents are easy to use too. Simply install them like a regular light bulb, turn on the light, and within minutes of the bulb heating you will enjoy a fresh scent.
Idea Generation: As a consumer who loves to have fresh scents in my home I know what a hassle it can be to find a place to plug-in air fresheners. I also only have one outlet my bathroom and it is a hassle for me to unplug the air freshener everyday when I want to dry my hair. A product such as this would allow me to enjoy the scents throughout my home and free up my electrical outlets.
Idea Screening: I feel this product would successfully pass numerous concept tests. I also feel that Light Scents would get a fantastic reaction from consumers. Most people are always looking for ways to revive their home and rid it of clutter.
Business Analysis: The likely demand for this product is high. Light Scents would likely cannibalize existing products of the same nature because they take up less space and work just as effectively. Current customers would benefit from every aspect. A few highlights are that it is a space saver and energy reducer because it works only when light is turned on. This product would not affect current employees in any way. Employees would still be necessary to manufacture this product. Therefore, companies could simply have their employees manufacturer this product rather than plug-ins (or similar) without downsizing. If this product becomes popular enough new facilities may be necessary in order to meet the demand. There is not a high risk of failure in manufacturing this product. Research shows that most people like to have clean scents in their home as well as less clutter. Companies would be inclined to take the small risk associated with this product because of the potential profits that can be made. Competitors may not respond very well to this product. Because of all the benefits of Light Scents there may not be a need for other forms air freshening devices.
Development: This product would be made similar to a conventional light bulb. The only difference is that the glass bulb would be constructed with a certain scent. The scent would be in the light bulb and activated when the bulb was heated. Light Scents are delicate and will need to be replaced when the bulb wears out. This product would be sold individually and in bulk just like a regular light bulb. Since it would be useless to put the product name and logo on the bulb where it will not be seen, the packaging will bear the products name and logo.
Test Marketing: This product does not have to go thought the test marketing stage. This is because there are well known brands of air fresheners such as Plug-Ins, Renuzit, and Febreze which are all extremely profitable. This shows that consumers are interested in products that freshen the home and there is little risk involved when marketing the product.
Commercialization: Light Scents would be commercially available soon after the development process. They are inexpensive to manufacture and the production time is relatively low. Television and magazine advertisements would be aired to help gain consumer interests. Coupons would be sent out through the mail to help promote the new product. Stores would also have special deals on Light Scents as another promotional strategy.
Solution- Light Scents light bulb air freshener
New-product strategy: Light scents are scented light bulbs which the consumer may use anywhere in the house. Many people want to have fresh scents throughout their home but lack sufficient electrical outlets for things such as Plug-Ins. Another problem with plug-in air fresheners is that they have to be removed when you want to vacuum or use the hair dryer if there isn’t an additional outlet available. Often times when the plug-in is removed we forget to replace it when we are done with the hair dryer, vacuum, etc. Light scents come in a variety of scents and wattage. Therefore, they can be used in any type of light and in any room of the house. This leaves all the electrical outlets free without the hassle of removing plug-ins when you want to vacuum. Another benefit is that Light Scents work only when the light has been turned on. This way you enjoy the fresh scent only when you are home. Plug-Ins are constantly on even when no one is home. What is the point of that? Light scents are easy to use too. Simply install them like a regular light bulb, turn on the light, and within minutes of the bulb heating you will enjoy a fresh scent.
Idea Generation: As a consumer who loves to have fresh scents in my home I know what a hassle it can be to find a place to plug-in air fresheners. I also only have one outlet my bathroom and it is a hassle for me to unplug the air freshener everyday when I want to dry my hair. A product such as this would allow me to enjoy the scents throughout my home and free up my electrical outlets.
Idea Screening: I feel this product would successfully pass numerous concept tests. I also feel that Light Scents would get a fantastic reaction from consumers. Most people are always looking for ways to revive their home and rid it of clutter.
Business Analysis: The likely demand for this product is high. Light Scents would likely cannibalize existing products of the same nature because they take up less space and work just as effectively. Current customers would benefit from every aspect. A few highlights are that it is a space saver and energy reducer because it works only when light is turned on. This product would not affect current employees in any way. Employees would still be necessary to manufacture this product. Therefore, companies could simply have their employees manufacturer this product rather than plug-ins (or similar) without downsizing. If this product becomes popular enough new facilities may be necessary in order to meet the demand. There is not a high risk of failure in manufacturing this product. Research shows that most people like to have clean scents in their home as well as less clutter. Companies would be inclined to take the small risk associated with this product because of the potential profits that can be made. Competitors may not respond very well to this product. Because of all the benefits of Light Scents there may not be a need for other forms air freshening devices.
Development: This product would be made similar to a conventional light bulb. The only difference is that the glass bulb would be constructed with a certain scent. The scent would be in the light bulb and activated when the bulb was heated. Light Scents are delicate and will need to be replaced when the bulb wears out. This product would be sold individually and in bulk just like a regular light bulb. Since it would be useless to put the product name and logo on the bulb where it will not be seen, the packaging will bear the products name and logo.
Test Marketing: This product does not have to go thought the test marketing stage. This is because there are well known brands of air fresheners such as Plug-Ins, Renuzit, and Febreze which are all extremely profitable. This shows that consumers are interested in products that freshen the home and there is little risk involved when marketing the product.
Commercialization: Light Scents would be commercially available soon after the development process. They are inexpensive to manufacture and the production time is relatively low. Television and magazine advertisements would be aired to help gain consumer interests. Coupons would be sent out through the mail to help promote the new product. Stores would also have special deals on Light Scents as another promotional strategy.
Friday, April 30, 2010
Tara Westbrook-The Tidy Chair
Problem: Time spent cleaning baby/toddler highchairs.
Solution: A self-cleaning highchair-The Tidy Chair
New-product strategy: The Tidy Chair is a highchair that has the ability to clean itself. Every parent has experienced difficulty when it comes to cleaning a mess their child has left after breakfast, lunch and dinner. The Tidy Chair is light and not bulky. The main purpose of the product is to decrease the time it takes to scrub left over food and stains off of a highchair tray, seat and sides. The powerwash motore will be installed under the highchair seat and when turned on, two metal arms with shower heads will come out from the sides and hover over the chair at an angle to blast water and soap onto the entire chair. The only advice is to put the highchair either outside or in the tub before activating the powerwash. Two requirements are: the hose needs to be hooked up to a water source (faucet or outside spicket) and soap will need to be refilled in the jug mounted on the back of the seat.
Idea Generation: I have been praying for a product like this for about 7 months now. I have a 16 month old who loves making a mess in his highchair. He loves spaghetti, macaroni and cheese and soup so you can imagine the mess that I have to clean up. I somewhat have to hose him down after every meal so having a highchair that I can wheel into my bathroom or outside to be cleaned with a push of a button would be awesome!
Idea Screening: I think this product would rate well and show success from concept tests performed.
Business Analysis: If there are busy, stressed and anti-mess women in this world like me, the demand for this product would be high. The Tidy Chair pricing will run consistent with pricing of name brand highchairs already on the market. The reason for making the product affordable is due to consumers spending extra money for the soap and cost of their water bill. I'm sure my water bill would increase but it would be worth it. The return on ivestment would prove to be positive. You can't put a price on the time and stress this product would save. The product is very beneficial to consumers. I freak out when I have to clean a mess, especially when I have my dressy work clothes on that I don't want to get dirty! Of course this product is risky but worth it.
Development: It would be a light, non-bulky, easy to fold up highchair similar to others. The powerwash motor will be installed under the seat with two metal arms with shower heads that come out from each side. The hose and jug for soap will be mounted on the back of the seat. All of these parts will be out of the reach of children when sitting in the highchair. We prefer you only activate the powerwash when your child is out of the chair and at a safe distance away. The product's branding is necessary to its identification, The Tidy Chair, a self-cleaning highchair. It's labeling is just as important therefore a persuasive logo will be given to the product.
Test Marketing: I would advertise the product online for reviews before selling it in stores such as, Target, Walmart, Kmart, Baby Depot and Babies R Us.
Commercialization: After the reviews come in from our online advertisements, we will order materials, start production, ship the products to the various stores and continue advertising.
Solution: A self-cleaning highchair-The Tidy Chair
New-product strategy: The Tidy Chair is a highchair that has the ability to clean itself. Every parent has experienced difficulty when it comes to cleaning a mess their child has left after breakfast, lunch and dinner. The Tidy Chair is light and not bulky. The main purpose of the product is to decrease the time it takes to scrub left over food and stains off of a highchair tray, seat and sides. The powerwash motore will be installed under the highchair seat and when turned on, two metal arms with shower heads will come out from the sides and hover over the chair at an angle to blast water and soap onto the entire chair. The only advice is to put the highchair either outside or in the tub before activating the powerwash. Two requirements are: the hose needs to be hooked up to a water source (faucet or outside spicket) and soap will need to be refilled in the jug mounted on the back of the seat.
Idea Generation: I have been praying for a product like this for about 7 months now. I have a 16 month old who loves making a mess in his highchair. He loves spaghetti, macaroni and cheese and soup so you can imagine the mess that I have to clean up. I somewhat have to hose him down after every meal so having a highchair that I can wheel into my bathroom or outside to be cleaned with a push of a button would be awesome!
Idea Screening: I think this product would rate well and show success from concept tests performed.
Business Analysis: If there are busy, stressed and anti-mess women in this world like me, the demand for this product would be high. The Tidy Chair pricing will run consistent with pricing of name brand highchairs already on the market. The reason for making the product affordable is due to consumers spending extra money for the soap and cost of their water bill. I'm sure my water bill would increase but it would be worth it. The return on ivestment would prove to be positive. You can't put a price on the time and stress this product would save. The product is very beneficial to consumers. I freak out when I have to clean a mess, especially when I have my dressy work clothes on that I don't want to get dirty! Of course this product is risky but worth it.
Development: It would be a light, non-bulky, easy to fold up highchair similar to others. The powerwash motor will be installed under the seat with two metal arms with shower heads that come out from each side. The hose and jug for soap will be mounted on the back of the seat. All of these parts will be out of the reach of children when sitting in the highchair. We prefer you only activate the powerwash when your child is out of the chair and at a safe distance away. The product's branding is necessary to its identification, The Tidy Chair, a self-cleaning highchair. It's labeling is just as important therefore a persuasive logo will be given to the product.
Test Marketing: I would advertise the product online for reviews before selling it in stores such as, Target, Walmart, Kmart, Baby Depot and Babies R Us.
Commercialization: After the reviews come in from our online advertisements, we will order materials, start production, ship the products to the various stores and continue advertising.
Thursday, February 18, 2010
Lewis Egley - Tracking Security Sensors
The Problem - New Product Strategy
In today’s retail world theft is a major problem. I work at Macys and i see the biggest problem is the current sensor tags on the market. Most can easily be tampered with and taken off a piece of clothing with some effort and with tag removers people can buy online! The current sensor tag systems are also not working very well, the loss in expensive departments such as POLO Ralph Lauren and Women’s Better Sportswear are very high. The Idea I have is for a sophisticated sensor tag using tracking devices to keep a close watch on where expensive merchandise is at all times. The tags would look very similar to current tags on the market (hard outer plastic casing, with a pin on the back). On the floor they could not be tampered with, without Loss prevention noticing with the tracking device. They could not be taken out of the store without an alarm sounding and even when out of the store Radio frequency Identification tracking devices are installed to catch the culprit with the merchandise. At point of sale the tag will be removed and deactivated until it is reattached to another piece of clothing.
Idea Generation/Idea Screening
The idea behind the tracking sensor tag is that it can not be easily tampered with and can’t be taken out of the store without someone knowing. With a tracking device installed the Loss Prevention Manager at a store can easily track where merchandise is going. With the use of software and security cameras the prevention of expensive merchandise will be much better. The Sensors are also like current ones on the market. They will use Detection Systems at doorways and bathrooms. When a tag comes to close to the detection system, LP will be notified and an alarm will sound by that door.
Business Analysis:
What is the likely demand for the product?
I feel the demand for the product would be quite high for mid-tier and high-end stores. In a larger store it is hard to keep an eye on everything, so these tracking devices would make it much easier to find the highest ticketed items at all times. Outside the store RFID tracking devices inside the sensor will lead the LP manager or security right to the culprit. Getting the merchandise back and keeping it in the store would be in a stores best interest.
Would Current Customers benefit from the product?
Yes. The less theft a store has the lower the prices will be on select merchandise
What is the risk of failure?
There is a high risk of failure due to stores not thinking it would be cost effective to upgrade current security systems and equipment. The best way to show them it would be is to give them proof that the tracking devices save money in the long run.
What new facilities would be need if any?
I do not believe any new facilities would be needed all of the pieces to make the product already are made and existed. The product would not be hard to make at all. The only difference in the product is the tracking device.
Development
Developing the product will not be as hard as getting retailers to upgrade to the new product. The only new development would be adding a small tracking chip inside the plastic casing.
Test Marketing
The first thing to market the product is to get a major retailer, such as a department store to try the security tag and after one year see if their loss in that department is significantly lower. That would be an example to retailers on how much money they could save from using the devices.
How Might Competitors Respond?
If the new tracking sensor takes off, it will hurt some of the competitors business but not all of it. The Tracking tag is only meant for expensive merchandise. So the use of regular pin and ink tags would still be used in most stores.
In today’s retail world theft is a major problem. I work at Macys and i see the biggest problem is the current sensor tags on the market. Most can easily be tampered with and taken off a piece of clothing with some effort and with tag removers people can buy online! The current sensor tag systems are also not working very well, the loss in expensive departments such as POLO Ralph Lauren and Women’s Better Sportswear are very high. The Idea I have is for a sophisticated sensor tag using tracking devices to keep a close watch on where expensive merchandise is at all times. The tags would look very similar to current tags on the market (hard outer plastic casing, with a pin on the back). On the floor they could not be tampered with, without Loss prevention noticing with the tracking device. They could not be taken out of the store without an alarm sounding and even when out of the store Radio frequency Identification tracking devices are installed to catch the culprit with the merchandise. At point of sale the tag will be removed and deactivated until it is reattached to another piece of clothing.
Idea Generation/Idea Screening
The idea behind the tracking sensor tag is that it can not be easily tampered with and can’t be taken out of the store without someone knowing. With a tracking device installed the Loss Prevention Manager at a store can easily track where merchandise is going. With the use of software and security cameras the prevention of expensive merchandise will be much better. The Sensors are also like current ones on the market. They will use Detection Systems at doorways and bathrooms. When a tag comes to close to the detection system, LP will be notified and an alarm will sound by that door.
Business Analysis:
What is the likely demand for the product?
I feel the demand for the product would be quite high for mid-tier and high-end stores. In a larger store it is hard to keep an eye on everything, so these tracking devices would make it much easier to find the highest ticketed items at all times. Outside the store RFID tracking devices inside the sensor will lead the LP manager or security right to the culprit. Getting the merchandise back and keeping it in the store would be in a stores best interest.
Would Current Customers benefit from the product?
Yes. The less theft a store has the lower the prices will be on select merchandise
What is the risk of failure?
There is a high risk of failure due to stores not thinking it would be cost effective to upgrade current security systems and equipment. The best way to show them it would be is to give them proof that the tracking devices save money in the long run.
What new facilities would be need if any?
I do not believe any new facilities would be needed all of the pieces to make the product already are made and existed. The product would not be hard to make at all. The only difference in the product is the tracking device.
Development
Developing the product will not be as hard as getting retailers to upgrade to the new product. The only new development would be adding a small tracking chip inside the plastic casing.
Test Marketing
The first thing to market the product is to get a major retailer, such as a department store to try the security tag and after one year see if their loss in that department is significantly lower. That would be an example to retailers on how much money they could save from using the devices.
How Might Competitors Respond?
If the new tracking sensor takes off, it will hurt some of the competitors business but not all of it. The Tracking tag is only meant for expensive merchandise. So the use of regular pin and ink tags would still be used in most stores.
Deer Gone
Deer Repellant
Never have a Deer hit your car again.
New Product Strategy
Deer Gone is a a spray that repels deer. Our company's goal is to provide a safe and reliable product while protecting drivers. We have studied the scents that repel deer and have a patent on our product that guarantees a deer will not hit your vehicle again. All one has to do is go out and buy deer gone, which is available in two sizes at affordable prices. What an individual will have to do is spray it on the vehicle. The small spray bottle is used for compact cars and SUV's, while the larger spray bottle is used for trucks and vans. Each bottle will last for four months. Deer Gone is made for anyone who owns a motor vehicle and is sixteen and older. Deer Gone is water proof and will not ruin your paint job.
Idea Generation
I came up with this product last thursday after class. I was on my way to work, when a deer ran into my side door and literally shook my car. It made me very frustrated,that it was heading right at my vehicle and could not do anything about it. So, that how Deer Gone deer repellant came about.
Business analysis
What is the likely demand of the project?
I feel that the demand for this product will be extremely high. As I know of there is no deer repellant that you spray on cars. As of now, the only repellent out in the markets are for grass and shrubbery. The demand will be the highest in the country and any where forests are prevalent.
Would current customers benefit from this product?
Since Deer Gone is 100% effective insurance companies give a 20% break on car insurance if your vehicle is sprayed every four months. One bottle is all you need to last for four entire months. An individual won't have to worry about having to pay thousands of dollars if not covered by your insurance.
What is the risk of failure? Is the company willing to take the risk?
There is always a risk of failure when introducing a new product. Our company would take the risk , because the demand for a car deer repellant would be in high demand.
Development
There will be two size spray bottles, small and large. The products packaging, branding, and labeling and will be an important factor in making consumers attracted to our product.
Test Marketing
The marketing for this product will be in stores such as; Wal Marts, Dicks, Gander Mountain, Pep Boys, Auto zone, and Advanced Auto. I would market the product all over, but a major part of my marketing would be areas that are prevalent in forests. Pennsylvania, Wyoming, Texas, and Colorado are some states that I would greatly focus on. These state have high a high deer population.
Commercialization
If everything goes well, we will finalize the product by ordering production material and equipment, announcing new product to trade, and start advertising to potential customers.
Deer Repellant
Never have a Deer hit your car again.
New Product Strategy
Deer Gone is a a spray that repels deer. Our company's goal is to provide a safe and reliable product while protecting drivers. We have studied the scents that repel deer and have a patent on our product that guarantees a deer will not hit your vehicle again. All one has to do is go out and buy deer gone, which is available in two sizes at affordable prices. What an individual will have to do is spray it on the vehicle. The small spray bottle is used for compact cars and SUV's, while the larger spray bottle is used for trucks and vans. Each bottle will last for four months. Deer Gone is made for anyone who owns a motor vehicle and is sixteen and older. Deer Gone is water proof and will not ruin your paint job.
Idea Generation
I came up with this product last thursday after class. I was on my way to work, when a deer ran into my side door and literally shook my car. It made me very frustrated,that it was heading right at my vehicle and could not do anything about it. So, that how Deer Gone deer repellant came about.
Business analysis
What is the likely demand of the project?
I feel that the demand for this product will be extremely high. As I know of there is no deer repellant that you spray on cars. As of now, the only repellent out in the markets are for grass and shrubbery. The demand will be the highest in the country and any where forests are prevalent.
Would current customers benefit from this product?
Since Deer Gone is 100% effective insurance companies give a 20% break on car insurance if your vehicle is sprayed every four months. One bottle is all you need to last for four entire months. An individual won't have to worry about having to pay thousands of dollars if not covered by your insurance.
What is the risk of failure? Is the company willing to take the risk?
There is always a risk of failure when introducing a new product. Our company would take the risk , because the demand for a car deer repellant would be in high demand.
Development
There will be two size spray bottles, small and large. The products packaging, branding, and labeling and will be an important factor in making consumers attracted to our product.
Test Marketing
The marketing for this product will be in stores such as; Wal Marts, Dicks, Gander Mountain, Pep Boys, Auto zone, and Advanced Auto. I would market the product all over, but a major part of my marketing would be areas that are prevalent in forests. Pennsylvania, Wyoming, Texas, and Colorado are some states that I would greatly focus on. These state have high a high deer population.
Commercialization
If everything goes well, we will finalize the product by ordering production material and equipment, announcing new product to trade, and start advertising to potential customers.
The Clicker Tracker
To many times have I come home ready to relax and watch tv just to spend another half hour scouring my house for the remote. I have the solution to this ever present problem in everyone's home.
1. Product Strategy- Implement a Tracking system with a transmitter inserted into the battery compartment on the remote. The transmitter will report its location to a tracking device attached to the television that will report the remotes location when prompted.
2.Idea Generation- Survey anyone who has ever owned a television, I guarantee they have lost their remote at least once and know how frustrating it is. Ask if they would be interested in a device to help them find it when this occurs.
3. Idea Screening- Figure out the best method of using the tracking device to report where the remote is located in the house. Is there a transmitter small enough to fit inside the remote?
4. Business Analysis:
Demand- Everyone has lost there remote and knows just how frustrating it is looking for it.
Would customers Benefit- Absolutely, it is a luxury item but in today's society convenience and efficiency is everything.
Risk of Failure- Very minimal, as long as the product can be produced cheaply and sold at a relatively low price.
5. Development- It would consist of two items. The Transmitter that fits inside the remote, and the tracker that would be attached to the television set by Velcro so that it can be removed and used to track the remote.
6.Test Marketing- Test the product on people with fairly large houses, namely the wealthy. If they like it, its almost guaranteed the middle class will love it.
7.Competitor Response- Eventually competition might find a way to incorporate this technology into remotes during the manufacturing process and it may become a standard feature on newer television sets.
1. Product Strategy- Implement a Tracking system with a transmitter inserted into the battery compartment on the remote. The transmitter will report its location to a tracking device attached to the television that will report the remotes location when prompted.
2.Idea Generation- Survey anyone who has ever owned a television, I guarantee they have lost their remote at least once and know how frustrating it is. Ask if they would be interested in a device to help them find it when this occurs.
3. Idea Screening- Figure out the best method of using the tracking device to report where the remote is located in the house. Is there a transmitter small enough to fit inside the remote?
4. Business Analysis:
Demand- Everyone has lost there remote and knows just how frustrating it is looking for it.
Would customers Benefit- Absolutely, it is a luxury item but in today's society convenience and efficiency is everything.
Risk of Failure- Very minimal, as long as the product can be produced cheaply and sold at a relatively low price.
5. Development- It would consist of two items. The Transmitter that fits inside the remote, and the tracker that would be attached to the television set by Velcro so that it can be removed and used to track the remote.
6.Test Marketing- Test the product on people with fairly large houses, namely the wealthy. If they like it, its almost guaranteed the middle class will love it.
7.Competitor Response- Eventually competition might find a way to incorporate this technology into remotes during the manufacturing process and it may become a standard feature on newer television sets.
Kristina Robinson- Affordable Curling Hair Spray
Problem-New Product Strategy:
If you're like me, your hair doesn't hold curls. It takes several hours for me to manually curl my hair and it usually ends in vain. This is why I think having an affordable, curling hair spray would be handy. All you have to do is spray it on wet or dry hair and in seconds your hair will curl naturally!
Idea Generation/Idea Screening:
I thought of it because I am never able to curl my hair. There is many occasions where I'd like to have curled hair and I either don't have the time or it simply doesn't hold. I'm sure I'm not the only girl out there with this problem.
Business Analysis:
What is likely the demand of the product?
I think the demand would be good. Even if girls are able to curl their hair, the speed this spray curls it in will simplify their morning routine. And for those who aren't able to curl their hair, this formula is super strong and will hold even the toughest of hair.
What current customers benefit from the product?
Customers would never have to buy anymore curling irons, curlers or hairsprays. It's in one simple, easy to use container. They would never have to worry about burning themselves either.
What is the risk of failure? Is the company willing to take the risk?
Every new product has a risk. If you're wanting to be a good, successful company, you need to be prepared to take risks. You also need to be prepared to fail, but the benefits of a successful product make all the risks worth while.
Development:
The development would be trying to find the right chemicals that would all work together and not destroy your hair.
Test Marketing:
I would try to find well known people to test out the product. When everyday people see the people they admire using this product, it might persuade them into trying the product themselves.
How Might Competitors Respond?
It would depend on how well the product sold. If it was a major hit, you would see competitors trying to improve it - make it better for a lower price.
If you're like me, your hair doesn't hold curls. It takes several hours for me to manually curl my hair and it usually ends in vain. This is why I think having an affordable, curling hair spray would be handy. All you have to do is spray it on wet or dry hair and in seconds your hair will curl naturally!
Idea Generation/Idea Screening:
I thought of it because I am never able to curl my hair. There is many occasions where I'd like to have curled hair and I either don't have the time or it simply doesn't hold. I'm sure I'm not the only girl out there with this problem.
Business Analysis:
What is likely the demand of the product?
I think the demand would be good. Even if girls are able to curl their hair, the speed this spray curls it in will simplify their morning routine. And for those who aren't able to curl their hair, this formula is super strong and will hold even the toughest of hair.
What current customers benefit from the product?
Customers would never have to buy anymore curling irons, curlers or hairsprays. It's in one simple, easy to use container. They would never have to worry about burning themselves either.
What is the risk of failure? Is the company willing to take the risk?
Every new product has a risk. If you're wanting to be a good, successful company, you need to be prepared to take risks. You also need to be prepared to fail, but the benefits of a successful product make all the risks worth while.
Development:
The development would be trying to find the right chemicals that would all work together and not destroy your hair.
Test Marketing:
I would try to find well known people to test out the product. When everyday people see the people they admire using this product, it might persuade them into trying the product themselves.
How Might Competitors Respond?
It would depend on how well the product sold. If it was a major hit, you would see competitors trying to improve it - make it better for a lower price.
Cheyenne Hill- Coffee Tempature Reader
Problem-New Product Strategy:
Well, i work at Mc Donalds and we would make a pot of coffee and no one would order it for a while so it would go cold. No one would even really realize that it had went cold and serve it to the customer. Then the next thing we know the customer would come back and start complaining about how cold it was. So I came up with the idea of putting a temperature reader on the pot of coffee that will tell you how hot the coffee is and then let you know when you need to make a fresh pot of coffee.
Idea Generation/Idea Screening:
I thought of this product because when I was at work I felt bad serving the customers cold coffee not knowing that the coffee was cold when I would give it to them. I thought if there was an object that you can make directly onto the coffee pot that would tell you the different temperatures from the time it was brewed till when it got cold.
Business Analysis:
What is likely the demand of the product?
I think the demand for the project would be very high. It would have to give an accurate reading of the temperature of the coffee.
What current customers benefit from the product?
The customers would never have to worry about getting a cold cup of coffee when they order it. Never have to worry about having to go back to the place where they bought the coffee take time out of their day and complain and get a new cup.
What is the risk of failure? Is the company willing to take the risk?
The risk would be very high like it is with every new product. There would have to be a lot of testing done. I think a company would be willing to take the risk because if they do make this product would be in high demand.
Development:
The development would consist of finding elements that would be able to tell the temperature and not be harmful to the person ingesting the coffee.
Test Marketing:
I would market this product to every restaurant and fast food chain in the world.
How Might Competitors Respond?
Well there really anything like this product on the market right now beside on the Coors can that had the mountains change colors when the beer is cold. I think more people would be trying to improve on the product and get in on the market.
Well, i work at Mc Donalds and we would make a pot of coffee and no one would order it for a while so it would go cold. No one would even really realize that it had went cold and serve it to the customer. Then the next thing we know the customer would come back and start complaining about how cold it was. So I came up with the idea of putting a temperature reader on the pot of coffee that will tell you how hot the coffee is and then let you know when you need to make a fresh pot of coffee.
Idea Generation/Idea Screening:
I thought of this product because when I was at work I felt bad serving the customers cold coffee not knowing that the coffee was cold when I would give it to them. I thought if there was an object that you can make directly onto the coffee pot that would tell you the different temperatures from the time it was brewed till when it got cold.
Business Analysis:
What is likely the demand of the product?
I think the demand for the project would be very high. It would have to give an accurate reading of the temperature of the coffee.
What current customers benefit from the product?
The customers would never have to worry about getting a cold cup of coffee when they order it. Never have to worry about having to go back to the place where they bought the coffee take time out of their day and complain and get a new cup.
What is the risk of failure? Is the company willing to take the risk?
The risk would be very high like it is with every new product. There would have to be a lot of testing done. I think a company would be willing to take the risk because if they do make this product would be in high demand.
Development:
The development would consist of finding elements that would be able to tell the temperature and not be harmful to the person ingesting the coffee.
Test Marketing:
I would market this product to every restaurant and fast food chain in the world.
How Might Competitors Respond?
Well there really anything like this product on the market right now beside on the Coors can that had the mountains change colors when the beer is cold. I think more people would be trying to improve on the product and get in on the market.
Wednesday, February 17, 2010
Serene Walter -- 'Closet Rotator and Organizor'
Problem: New-Product Strategy
Every day, I wake up and do my usual “get ready” routine. It’s such a simple routine to most people. Wouldn’t you agree? I disagree. Every day I wake up and dread getting ready. Why? Because I have to dig through my clothes closet to find something to wear. I share a closet with two younger sisters. The closet is extremely packed and hard to go through because of this. It is also very disorganized. The only thing separating my sisters’ clothes and mine is a little handle holding the closets bar up. My closet is a nightmare. Therefore, having to get dressed in the morning and having trying to find something to wear is a pain for me.
Hence, I have thought of a new product for today’s market. Say hello to your new ‘Closet RO’ or ‘Closet Rotator and Organizer’! This new product will eliminate the painful, time-consuming process of looking for something to wear in a tightly packed and disorganized closet.
‘Closet RO’ is an electronic organizer that rotates your clothes by the simple push of a button. This will not only cut time, it will make your life so much easier. The frustration of having to shove and pull clothes will no longer exist, thanks to ‘Closet RO’. The ‘Closet RO’ will have an attached “ON/OFF” switch that will control the rotation of your closet. The rotator goes at an even, medium speed so you can look through your clothes faster and eliminate the frustration of moving them.
The ‘Closet RO’ also has a simple organizing system. Say you want to separate your clothes by type (i.e. by dresses, shirts, pants, etc.). ‘Closet RO’ comes with colored, attachable separators. All you have to do is hang your shirts, clip on your colored separator of choice and then start hanging your next set of clothes. You may want to organize your clothes by color or season. You can use Closet RO’s separators for this as well.
We will sell ‘Closet RO’ online. You may choose the size that you wish online. ‘Closet RO’ will range by square feet and you may choose how big or how small you want your new closet to be. If you ever fill up your new ‘Closet RO’ we will offer:
1.) an installment of more “clothes space”.
2.) Another ‘Clothes RO’ at a discounted price.
Once you have ordered this product, we will deliver it to you and install it for free.
Idea Generation
I have come up with such a product through my wants and needs. I am tired of having the frustrations of looking through my stuffed disorganized closet and I want a fast and efficient way of looking through it. I also need more room for my clothes, since I like to buy clothes throughout the year. I also noticed that there is no such thing as a “closet rotator” on the market as well, so I believe this a great product for us to invest in.
Today’s market is a strong influence on my idea as well. I know a lot of people who have the same problem as me, who also want a good solution to this problem. Through research on the internet I discovered that there are hundreds of thousands of people who have the same closet frustrations as well. They are constantly trying to find good products that help them organize their closets to make lives easier.
Idea Screening
I will make this product come to life through a myriad of surveys for the consumer market and evaluation. I will have a concept test that evaluates this new-product idea before I even make a prototype of this product. This will help me receive consumer reactions of my proposed product. This will also help me avoid making a copycat item (a similar product that exists in today’s market).
Business Analysis:
What is likely the demand for the product?:
I believe that there would be a high demand for the ‘Closet RO’. I believe this because as stated earlier, me and the majority of today’s consumers are frustrated with their clothes closets and want to have both an efficiently organized and easy-to-look-through closet. There will also be a high demand because there are basically no products out in the market like the ‘Closet RO’.
How would the introduction of the product affect existing products? Would the new product cannibalize existing products?:
The introduction of the ‘Closet RO’ would most likely threaten existing products, such as build-in closet organizers (shelves, wall attachments, etc.). I don’t think it would drastically cannibalize existing products because there are still many consumers in today’s market that prefer old fashioned closets and build-in closet organizers. However, it will definitely put a dent in the existing products’ sales.
Would current customers benefit from the product?:
Customers will definitely benefit from this product because it will improve their closets, organize it, and make it easier to look through. Many people would love such a product and prefer it over their old fashioned closets.
What new facilities, if any, would be needed?:
We would need a factory to be able to construct the new product and a main headquarters where the online sales take place and where orders will be made.
How might competitors respond?:
Competitors, such as online closet organizing and shelving companies and hardware and furniture stores (Home Depot, Ace Hardware, Target, etc.), would obviously be unhappy with this advancement in home closets. They would most likely try to increase sales of their existing products to their customers and would start looking into a similar, but better and cheaper product than the ‘Closet RO’.
What is the risk of failure? Is the company willing to take the risk?:
The risk of failure is high, as are most new proposed products. Consumers may not be interested or the company may not be able to make their product popular enough to make profit. Competitors may put them out of business or the proposed product will just flop. However the company is willing to take the risk, since it is an advancement in technology today and it would suit the many needs of today’s market.
Development
First the company will need to make prototypes of the proposed ‘Closet RO’. We will need to come up with an excellent marketing strategy. We need to figure out the packaging, production, delivery, and service of this product. We also need to map out the promotion, price and distribution strategies. We will thoroughly examine the feasibility of manufacturing the product at an acceptable and affordable cost. Our development process will be processed through simultaneous product development, so it will shorten the process and reduce costs. We will do this through the Internet for easy access to analyze markets and demographics and reviewing of cost information. We could also solve any possible technical problems through testing and online brain trusts.
The product will be a custom made, electronic closet that rotates. It will come with 20 colored separators for organization. It will be made in the company’s factory, sold online, and delivered and assembled (for free) in the customer’s home. It will be sold at a profitable, yet affordable price to the market.
Test Marketing
I would test market this product to the online public, in Home Depots and Wal-Mart’s. The cities I would choose to market this product would be in places such as California, New York, Chicago, and Texas. These areas have a large population with large wardrobes, fashion interests, and high interests in technological advances such as the ‘Closet RO’.
Commercialization
I would like to join forces with a popular competitor, such as Home Depot. This would not only make it easier for us to get out the new product, but it will increase our profit due to the popularity of Home Depot. It will be sold to the online public in the United States, on our own website and Home Depot’s.
Every day, I wake up and do my usual “get ready” routine. It’s such a simple routine to most people. Wouldn’t you agree? I disagree. Every day I wake up and dread getting ready. Why? Because I have to dig through my clothes closet to find something to wear. I share a closet with two younger sisters. The closet is extremely packed and hard to go through because of this. It is also very disorganized. The only thing separating my sisters’ clothes and mine is a little handle holding the closets bar up. My closet is a nightmare. Therefore, having to get dressed in the morning and having trying to find something to wear is a pain for me.
Hence, I have thought of a new product for today’s market. Say hello to your new ‘Closet RO’ or ‘Closet Rotator and Organizer’! This new product will eliminate the painful, time-consuming process of looking for something to wear in a tightly packed and disorganized closet.
‘Closet RO’ is an electronic organizer that rotates your clothes by the simple push of a button. This will not only cut time, it will make your life so much easier. The frustration of having to shove and pull clothes will no longer exist, thanks to ‘Closet RO’. The ‘Closet RO’ will have an attached “ON/OFF” switch that will control the rotation of your closet. The rotator goes at an even, medium speed so you can look through your clothes faster and eliminate the frustration of moving them.
The ‘Closet RO’ also has a simple organizing system. Say you want to separate your clothes by type (i.e. by dresses, shirts, pants, etc.). ‘Closet RO’ comes with colored, attachable separators. All you have to do is hang your shirts, clip on your colored separator of choice and then start hanging your next set of clothes. You may want to organize your clothes by color or season. You can use Closet RO’s separators for this as well.
We will sell ‘Closet RO’ online. You may choose the size that you wish online. ‘Closet RO’ will range by square feet and you may choose how big or how small you want your new closet to be. If you ever fill up your new ‘Closet RO’ we will offer:
1.) an installment of more “clothes space”.
2.) Another ‘Clothes RO’ at a discounted price.
Once you have ordered this product, we will deliver it to you and install it for free.
Idea Generation
I have come up with such a product through my wants and needs. I am tired of having the frustrations of looking through my stuffed disorganized closet and I want a fast and efficient way of looking through it. I also need more room for my clothes, since I like to buy clothes throughout the year. I also noticed that there is no such thing as a “closet rotator” on the market as well, so I believe this a great product for us to invest in.
Today’s market is a strong influence on my idea as well. I know a lot of people who have the same problem as me, who also want a good solution to this problem. Through research on the internet I discovered that there are hundreds of thousands of people who have the same closet frustrations as well. They are constantly trying to find good products that help them organize their closets to make lives easier.
Idea Screening
I will make this product come to life through a myriad of surveys for the consumer market and evaluation. I will have a concept test that evaluates this new-product idea before I even make a prototype of this product. This will help me receive consumer reactions of my proposed product. This will also help me avoid making a copycat item (a similar product that exists in today’s market).
Business Analysis:
What is likely the demand for the product?:
I believe that there would be a high demand for the ‘Closet RO’. I believe this because as stated earlier, me and the majority of today’s consumers are frustrated with their clothes closets and want to have both an efficiently organized and easy-to-look-through closet. There will also be a high demand because there are basically no products out in the market like the ‘Closet RO’.
How would the introduction of the product affect existing products? Would the new product cannibalize existing products?:
The introduction of the ‘Closet RO’ would most likely threaten existing products, such as build-in closet organizers (shelves, wall attachments, etc.). I don’t think it would drastically cannibalize existing products because there are still many consumers in today’s market that prefer old fashioned closets and build-in closet organizers. However, it will definitely put a dent in the existing products’ sales.
Would current customers benefit from the product?:
Customers will definitely benefit from this product because it will improve their closets, organize it, and make it easier to look through. Many people would love such a product and prefer it over their old fashioned closets.
What new facilities, if any, would be needed?:
We would need a factory to be able to construct the new product and a main headquarters where the online sales take place and where orders will be made.
How might competitors respond?:
Competitors, such as online closet organizing and shelving companies and hardware and furniture stores (Home Depot, Ace Hardware, Target, etc.), would obviously be unhappy with this advancement in home closets. They would most likely try to increase sales of their existing products to their customers and would start looking into a similar, but better and cheaper product than the ‘Closet RO’.
What is the risk of failure? Is the company willing to take the risk?:
The risk of failure is high, as are most new proposed products. Consumers may not be interested or the company may not be able to make their product popular enough to make profit. Competitors may put them out of business or the proposed product will just flop. However the company is willing to take the risk, since it is an advancement in technology today and it would suit the many needs of today’s market.
Development
First the company will need to make prototypes of the proposed ‘Closet RO’. We will need to come up with an excellent marketing strategy. We need to figure out the packaging, production, delivery, and service of this product. We also need to map out the promotion, price and distribution strategies. We will thoroughly examine the feasibility of manufacturing the product at an acceptable and affordable cost. Our development process will be processed through simultaneous product development, so it will shorten the process and reduce costs. We will do this through the Internet for easy access to analyze markets and demographics and reviewing of cost information. We could also solve any possible technical problems through testing and online brain trusts.
The product will be a custom made, electronic closet that rotates. It will come with 20 colored separators for organization. It will be made in the company’s factory, sold online, and delivered and assembled (for free) in the customer’s home. It will be sold at a profitable, yet affordable price to the market.
Test Marketing
I would test market this product to the online public, in Home Depots and Wal-Mart’s. The cities I would choose to market this product would be in places such as California, New York, Chicago, and Texas. These areas have a large population with large wardrobes, fashion interests, and high interests in technological advances such as the ‘Closet RO’.
Commercialization
I would like to join forces with a popular competitor, such as Home Depot. This would not only make it easier for us to get out the new product, but it will increase our profit due to the popularity of Home Depot. It will be sold to the online public in the United States, on our own website and Home Depot’s.
Adreanna Konsur- "The Smart Cart"
Problem – New Product Strategy
The main shopper's of the world are stay at home moms. Sure you see them during the week grabbing a few items to make dinner with, but the splurge happens on Friday. Wanna know why? Because their husbands get paid on Friday's. Many moms carry a list of the needed items but often stray away from it, while others carry handfuls of coupons that they spent hours painfully clipping out of the newspaper. However, what if there were an invention that you could have a scanner at your fingertips, a daily list of items on sale, and a internal calculator that keeps your budget on track. Meet "The Smart Cart"! The "Smart Cart" is a normal shopping cart with a built in computer system that allows you to put your budget in the calculator and subtract each item you scan keeping you under budget. This system not only keeps housemaker's on budget but is also great for college students! Along with a calculator system the "Smart Cart" is environmentally friendly. Instead on stores having to waste paper printing hundreds of shopper's guides and sending them to their customer's the "Smart Cart" will have an internal daily shopper's guide telling the customer not only how much each item is but also what items are on sale that day, and what isle you can find them on. Hate standing in line to check out? you won't have to anymore. Since each item in your cart that you are purchasing will be already scanned into the computer system, all the shopper needs to do is visit a cashier and with a few clicks of the button you're done and on your way!
Idea Generation/ Idea Screening
I realized how difficult and time consuming shopping is. For those who have to do this task more than once a week know that the time spent shopping could be used for so many other things. However, I did not know that this product existing before typing this. The "Smart Cart" apparently is an actual item however I believe that it is not yet out on the market and that is why I have the name in quotations.
Business Analysis:
What is likely the demand for the product?
I feel that when this item actually becomes readily available that there will be a high demand for it. People would use this product all the time because it would save so much time and energy.
Would current customers benefit from the product?
Yes, I feel that everyone who shops would benefit from this product. It may also interest people who chose not to shop because it would be less of a hassle for them.
What is the risk of failure?
I think that there is a long risk of failure. Technology is constantly pushing us forward and I feel that this product would help in that way. As long as the product was engineered properly I think that it would flourish.
What new facilities, if any, would be needed?
I do not believe that we would need new facilities to make this product. I think that with the technology that is already around this product would be simple to make.
Development
As mentioned above I feel that this product would be simple to develop and that it would not take a lot of time to do so. The computer system would be easy to install into a shopping cart and the information could simply be uploaded daily to each cart through the use of the internet and the store's website page.
Test Marketing
I would test this product in a store that receives many daily shoppers and has long lines when it is busy. I think Walmart would work quite well. I feel that many people would enjoy the ease of using this product.
How might competitors respond?
Competitors could respond to this product by allowing it to go online so that you could get free coupons without having to clip them out of the paper, however, if I had invented this product I would include this feature.
Automatic Hair Straightner
Problem - New Product Strategy
There is nothing that is more time consuming then having to straighten your hair. I don't even have that curly of hair and it takes me at least 30 mins to get my hair pin-straight. I can't even imagine how it is for people with extreme curly hair. Not only is it time consuming but it also takes a lot of energy to do. My solution to this problem is to create a product that can automatically straighten your hair for you.
Idea Generation
I thought of this technology because I like my hair to be stright sometimes, but I am way to lazy to do it most of the time. You can always go to a place to get your hair strighten permently, but I like to have my hair wavey a lot to and would never want to get rid of it. If there was something out there that could straighten my hair for me with out having to leave my house would be amazing.
Idea Screening
I don't believe that there is any kind of technology that can strighten your hair for you in your own home. We have a lot of advancments in technology and I am sure that something can be made up to fit this need.
Business Analysis:
What is likely the demand for the product?
I think that demand for this product would be very high. I have a few girl-friends that would love this product. Just like a regular straightner this product would be very useful.
Would current customers benefit from the product?
It would benefit any person who has curly hair and would like to save time straightneing it. It would eliminate the time that it would take to do it.
What is the risk of failure? Is the company willing to take the risk?
The risk is always high when creating a new product. It will take a lot of testing to make sure the product will work correctly. I think this product will be very exspensive to create but the need will be greatly.
Development
The development of this product will take a lot of time and energy to create. They will have to make sure that is has an adjusted heat, sensors to make sure it doesn't get close to the head, and make sure that it doesn't singe the hair while doing it. The development will have to be small that hooks onto a chair or something of the sort.
Test Marketing
I would market the product to all hair salons and big stores. I think that everywhere will be very interested in this product.
How might cometitors respond?
I think that most copetitors will take up this chance to creat the same product in a different way and try and sell it at a lower cost.
There is nothing that is more time consuming then having to straighten your hair. I don't even have that curly of hair and it takes me at least 30 mins to get my hair pin-straight. I can't even imagine how it is for people with extreme curly hair. Not only is it time consuming but it also takes a lot of energy to do. My solution to this problem is to create a product that can automatically straighten your hair for you.
Idea Generation
I thought of this technology because I like my hair to be stright sometimes, but I am way to lazy to do it most of the time. You can always go to a place to get your hair strighten permently, but I like to have my hair wavey a lot to and would never want to get rid of it. If there was something out there that could straighten my hair for me with out having to leave my house would be amazing.
Idea Screening
I don't believe that there is any kind of technology that can strighten your hair for you in your own home. We have a lot of advancments in technology and I am sure that something can be made up to fit this need.
Business Analysis:
What is likely the demand for the product?
I think that demand for this product would be very high. I have a few girl-friends that would love this product. Just like a regular straightner this product would be very useful.
Would current customers benefit from the product?
It would benefit any person who has curly hair and would like to save time straightneing it. It would eliminate the time that it would take to do it.
What is the risk of failure? Is the company willing to take the risk?
The risk is always high when creating a new product. It will take a lot of testing to make sure the product will work correctly. I think this product will be very exspensive to create but the need will be greatly.
Development
The development of this product will take a lot of time and energy to create. They will have to make sure that is has an adjusted heat, sensors to make sure it doesn't get close to the head, and make sure that it doesn't singe the hair while doing it. The development will have to be small that hooks onto a chair or something of the sort.
Test Marketing
I would market the product to all hair salons and big stores. I think that everywhere will be very interested in this product.
How might cometitors respond?
I think that most copetitors will take up this chance to creat the same product in a different way and try and sell it at a lower cost.
Tuesday, February 16, 2010
Nick Elmy- "Automatic Blinkers"
Problem- New Product Strategy
There is nothing that drives me more insane then when drivers do not use their turn signals when driving. I, along with many others I am sure, are constantly slamming on the brakes, and/or swerving to avoid hitting these inconsiderate drivers. Often, even when drivers do intend to use their blinkers they wait too long before turning them on, often causing accidents. My solution to this problem is through the creation of "Automatic Blinkers" that can sense and anticipate when a driver is going to turn and automatically activate the brake lights and turn on the blinker.
Idea Generation
I thought of this technology based on the fact that it is a pet peeve of mine when people don't use their blinkers. I talk about it all the time when I am driving. I realized that out of all the technology that is utilized in cars today, why can't something like this be created. We have cars that can sense when the driver is dozing off and sound an alarm to awaken them and cars that can park themselves, how can't we have cars that can automatically turn on blinkers?
Idea Screening
As far as I know, there are no automated blinkers used in cars, or any type of transportation for that matter, that I am aware of. I believe that this could be done pretty easily, especially with all the advancements that are already being made in the automotive industry.
Business Analysis: Referring to page 149 of our textbook
What is likely the demand for the product?
The demand would be quite significant in my opinion. Like airbags, stability control, and check engine lights, I think that automatic blinkers would be enforced and required for every car as a safety feature.
Would current customers benefit from the product?
It would be a huge benefit to any driver in general. It would eliminate or help eliminate crashes as a result of someone not using their turn signal.
What new facilities, if any, would be needed?
A general manufacturing facility would need to be created to develop, test, troubleshoot, and create the computers and sensors required to make everything work.
What is the risk of failure? Is the company willing to take the risk?
As with any new product the initial risk of failure would probably be high. The Automatic Blinker system would need to be tested over and over again to rule out any bugs. Furthermore, the cost of the system would have to be in line with other advanced safety options that are available in cars currently. I think that as long as the funding is available and the product has a large following anyone would take the risk.
Development
Developing the blinkers would probably take a lot of design and trial and error. Using infared sensors mounted on the sides of the front bumper, as well as speed and steering sensors mounted on the gas and brake pedals and steering column, the system would constantly monitor driver input, as well as vehicle speed and steering direction to anticipate an oncoming turn (much like the system used by Volvo, for example, known as the City Safe System that anticipates a front end collision). Using the information from the sensors, the computer would activate the right or left blinker and activate the rear brake lights early enough to give warning to the person driving behind the car.
Test Marketing
I would market the product to all car companies and work with the one(s) that are most interested. I would listen to all suggestions that are brought to the table.
Commercialization
As long as the product development goes well and there is a market and demand for the technology then I don't see any limit to how far it can go. The automatic blinkers could be used internationally like airbags are.
Friday, February 12, 2010
Lacey Brewer – “Alcohol Dispenser Gun System”
Problem – New Product Strategy
To make a long story short my parents own a bar and I have worked there ever since I was 18, so four years now, I am very well known there and a lot of people like it when I’m working. It is just a small town – red neck bar but everyone loves coming here. Haha!. I am so used to doing everything there that I can practically run the place myself from doing the financial aspect of it to the advertising and to knowing all of the people. Sometimes this all gets to me, making me really not care all that much about my job making me lazy and not wanting to work to my full potential during my shift especially making all the complicated drinks. So I came up with this new product called the Alcohol Dispenser Gun System. This product is like the soda gun dispenser at restaurants or bars that dispense water and soda to make drinks however this product will dispense any kind of alcohol to make all varieties of drinks.
Idea Generation
I came up with the idea of the Alcohol Dispenser Gun System because when it comes to making all of the fancy complicated drinks I am too lazy to do it. I have done it so many times over the past for years and need something that would make my life as a bartender easier. I am always making a mess or overflowing the shot glass or sometimes are a little off on my measurements. I think that this Alcohol Dispenser Gun System would be perfect for any bartender and make their job a lot easier, especially when they are busy.
Idea Screening/Development
This product is just like the basic soda dispenser gun system and the basics concept is very similar to the Alcohol Dispenser Gun System. The dispenser gun is hooked up and run by a computer and is operated at the touch of a button. On the gun dispenser there will be a selection of buttons, including a liquor, beer, soda, and water, and juice button. For example if someone orders a Captain Morgan and Coke, the bartender will push the liquor button on computer and then find the Captain Morgan selection then push the liquor button on the gun and Captain Morgan will dispense from the gun. Next the same way with the Coke, press soda on the computer and find Coke, then press soda on the gun and Coke will dispense from the gun and you will have a Captain and Coke. The whole system is going to be designed like a soda system, being that the soda comes in boxes and are hooked up to the hoses, it will be the same way with the alcohol. All the liquor, beer, soda, and juices will come this way and be hooked up when needed be. So you can see that this is going to be a very large system because there is a huge selection of beers and liquors to chose from in a bar.
Business Analysis:
What is the likely demand for this product?
I think that the demand for this product will be ultimately high because this will make every bartenders life easier and they won’t have to go crazy trying to find a misplaced bottle or can of juice. Also it will save time when on a busy night, the more drinks you make the more money your establishment makes and the quicker the service the happy the customer!
Would customers benefit from this product?
I think that the customers would definitely benefit from this product because they are getting a correctly portioned well-made drink quickly. This way it will be done sooner than having to wait for the bartender to go and get all of the different bottles and they can just push a button and it will be made in a matter of seconds.
Would the product affect the image of the company’s overall product mix?
I think that it would affect the image of the company’s overall product mix.
What impact would the new product have on the total sales, profits, market sales and return on investment?
I think that the new product will have a great impact on the total sales. Drinks may go up because of all the equipment costs and the new packaging of the alcohol but I think that with the “time” factor that people will get their drinks better made and quicker will make a difference and will keep them coming back for more. It may be costly at first with all the new installations and stocking up on everything in the box form (like soda comes in for these kinds of systems) but I think that it will all pay off in the end and start to grow into a profit earning establishment.
Would the new product effect current employees in anyway?
I think that this would definitely affect current employees in many ways, for the better. This will not only save them time but will also save them many headaches, so now they won’t have to listen to people complain that their drink isn’t made right and can just make the drink instantly and move on to the next. This will also give them more time to make more drinks and earn more money! Overall I think that this is a good idea!
How will competitors respond to this?
I think that other competitors would respond to this by trying it out for themselves and realizing that this is the best invention ever!! (Thanks to me J) I think that it would make any bartenders life easier and would really help out in the bar business for all. Maybe the companies that make the liquor and beer in the bottles and cans would have a problem because now it will be in a box form (like wine) so there may be some issues there but overall well.
What is the risk of failure?
The risk of failure is that this maybe an absolutely stupid idea and people may think this is silly but I love it and it works for me. People in the bar business might not like this idea and may not give it a chance to make their lives easier. Also the companies that would have to produce the alcohol in the box form may not go for it.
Test Marketing
The way that I would test this product is that I would first invent the product then hold a seminar for all of the bars in PA or who ever wanted to come and learn more about the product from all over the world. First I would start out by saying what my reasoning was for the product and then go into an in depth demonstration on how the whole system worked. I would then allow everyone to come up and try it for themselves so they can get first hand experience and realize that this product would make their lives as a bartender and their bar business so much easier and that is it a must have product.
Commercialization
I would advertise everywhere in the world, including major cities. Sending them an information packet as well as a demonstration video getting them sucked into my product leaving them with the message that this is something for their business that would bring things over the top for them. I would also consider traveling doing more demonstrations to show off my product as well!
Thanks for reading and remember if anyone likes my idea and becomes a millionaire please don’t forget me !! J
Subscribe to:
Comments (Atom)