To identify top 5 ideas for holiday decorations of the 10 that I had from last week, I run a survey on umn.qualtrics.com. I tried to keep it as simple as possible, but still get what I need from it, the survey asked only 3 questions:
1. Please choose the ideas for Christmas decorations that you can see yourself using: (I offer images of the 10 ideas with a short title here)
2. Please indicate how much money (USD) you would be willing to pay for the ornaments below;
And I added one more question to make sure participants have a chance to build on my ideas if they want to:
3. Would you like to add any comments / suggestions for improvement for some of the ideas above?
25 people participated in the survey, which gave me enough information to choose the top 5 ideas. Here they are:
1. The terrarium idea got 14 votes with an average of $ 14.3 that people would be willing to pay for it;
2. Collapsible ornament got 13 votes, with an average price for an item $ 5.2;
3. Fillable ornament received 12 votes, average price -- $ 6.6;
4. Projected ornaments got 10 votes, average price -- $ 34.2;
5. Decorative booze bottle got 10 votes, average price -- $ 9.5;
For the 5 ideas I created a 2x2 matrices trying to find out a white spot of latent possibilities.
1. The terrarium ornament 2x2 matrix revealed 2 opportunities for a product: a high-end terrarium without a kit, and a low-end terrarium with a kit. Another observation that might be an opportunity for a product is that all of the terrariums out there are clear colorless glass. I think adding some color might make their designs more compelling. The terrariums themselves can be made out of color glass, or a color LED light can be integrated into it. Personally, I like the last idea most.
2. I didn't find any collapsible ornaments on the Amazon, so I provide here a collection of goods from Amazon that have collapsible elements of some kind, which I can use later as an inspiration.
3. For the fillable ornament idea I chose the following parameters for comparison: high-end vs. low-end, and 1-piece vs. 2-piece. As seen on the image below, I found the white spot of a 2-piece high-end fillable ornament in the top right corner (where the question mark on green background is). And I pasted the image of a 2-piece terrarium there to show how it might look. It only needs a loop to be added at the top.
4. For the projected ornament idea the 2x2 matrix identified 2 opportunities: high-end with transcendental ornament and low-end with non-abstract visuals (for example, candles, snow flakes, ornaments, etc.)
5. The decorative bottle 2x2 matrix showed that neither in high-end nor low-end products that are currently on market, there is a combination of features of being edible (and/or drinkable) and a Christmas tree decoration at the same time. So it might be a good opportunity for a product.
B) Below are the 5 patents that I found making my preliminary patent search on these 5 ideas:
4. Projection ornament
5. Booze bottle
The biggest concern for the terrarium is how to integrate a LED light (and a battery) into a 1-piece glass structure.
LED light with a battery = $0.5 (similar to this)
glass terrarium = $1
labor = $1
manufacturing cost = $2
For the collapsible ornament, the biggest concern would be a price range, because the surveyed people on the average are ready to pay only $5.2 for an item, which is about the price range for a regular ornament that you can buy separately without a set, and which as a rule are easier to manufacture and assemble. The following calculations are made for a collapsible ornament similar to the pet travel bowl:
materials = $0.1 (rubber costs 253 cents per kilogram, and 1 ornament weights no more than 40 grams);
I assume that metallic part on top of the ornament will cost about the same = $0.1
labor = $0.2
manufacturing cost = $0.4
The 2-piece fillable ornament is a relatively simple design, so there should be no major problems with manufacturing. One of the concerns that I might have about it is to choose the right price point, so that it is not extremely expensive, but still is a bit luxurious and desirable, as consumers tend to find a product desirable because it has a high price.
glass terrarium = $1.5
plastic bottom material = $0.2
labor = $1.7
manufacturing cost = $3.4
For the projection of ornaments idea, the hardest part for me would be the use of technologies.
The manufacturing cost estimation here is really rough. I need to project ornaments to the surface of a Christmas tree, which is not flat, so I will need at least 2 sources of light (that make the projection). Lets take the cheapest light projector on my 2x2 matrix which is $6.99, and calculate its manufacturing cost: $6.99/5=$1.4. So, the manufacturing cost for my projected ornaments is $1.4*2=$2.8.
For the booze bottle idea, the main concern will be the weight of the bottle. It might be too heavy to be ganged on a Christmas tree branch because of the liquid inside and the glass the bottle made of.
Each 50ml bottle costs $1-5 depending on the beverage type. Lets approximate it to $3 per one bottle on the average. Lets assume that additional elements: wrapping foil, loop and a hook on top of the screw lid will cost $0.5. So, materials total is $3.5, and together with labor cost it will result in $7 of manufacturing cost.