Assignment #6: Idea Evaluation
The purpose of this assignment was to asses the top 10 ideas from assignment # 5 in the areas of marketability, novel and feasibility.
Part 1: Marketability
To get responses in the most timely manner, I brought hard copies of my survey out to the local ski hill near my home town on Saturday. The wonderful thing about Saturdays is you have a variety of skill levels and reasons for skiing with families, racers, instructors, recreational skiers of various ages all in one place at the same time. Within an hour I had 15 people's feedback on the proposed products that had the most potential from the previous week's assignment. The survey simply asked if the person would buy the product and at what price with an image to display the idea. To see the layout of the survey click the link below.
I was surprised at some of the results, such as few were interested in the fishing hole light ring, and at what prices people were willing to pay for such products, some up to $700 for a ski suit with heating elements that could be adjusted.
Product #1: Glow Cup
Av. Price: $10.11
Product #2: Ice Fishing Ring Light
Av. Price: $10
Product #3: Magnetic Jacket
Product #4: Taco Wrap Ski Bag
Product #5:Long-Underwear Ski Suit
Product #6:Heating Element Ski Suit
Av. Price: $230.00
Product #7: Quad-zip Ski Suit
Product #8:Christmas Tree Bagging System
Av. Price: $26
Product #9: Bunny Slippers
Av. Price: $26.66
Product #10: Ski Strap
Av. Price: $37.85
Top 5 Products
Product #, Name, Vote-Yes, Price
1 Glow Cup 11 $10.11
4 Taco Wrap Ski Bag 8 $40.63
6 Heating Element Ski Suit 11 $230.00
9 Bunny Slippers 6 $26.66
10 Ski Strap 8 $37.85
Part 2: Novel
By using the almighty power of the internet, I researched the state of the art in the market. What kinds of products were out there that were similar to my own top five ideas.
Step One: Benchmark the State of the Art
There were a lot of glow in the dark products that once they were activated a they would continue to produce light. Most of these products were under $5. There was also battery operated LED cups that ranged from $6-$15, but also would continue to produce light unless the batteries were removed. The higher end items were actually coasters that were motion activated and ranged from $30-$50.There were no touch activated cups, glasses or mugs available to purchase. The Market potential is in touch-activated low and high end glow cups.
The ski bag market is dominated by soft-sided bags with zippers. I was unable to find any with alternative closing mechanisms. The hard cases had some alternative, but most were over $200 and all of similar design. There are few alternatives that would allow you to keep mittens or gloves on while packing the equipment in it. The market potential lyes within a soft ski bag without a zipper closing mechanism or hard case ski protector with zippers.
The bindings on the market follow a very traditional design and usually incorporate color choices that don't include black, white or silver. I found only one example of some type of character incorporated into a children's ski binding. The overall form is very much the same. The market potential is found in the area of creating colorful or black and white character formed bindings.
The Market Potential in this case is in creating a low-end cushioned strap for carrying skies.
Step2: Patent Search
1. Patent # RE33285
July 31, 1990
4. Patent # 5758770
June 2, 1998
6. Patent # 7816632
October 19, 2010
9. Patent # 7201392
April 10, 2007
10. Patent # 5383587
Jan 24 1995
Part 3: Feasibility
The final part of this assignment was to find the manufacturing cost and noting what would be the most difficult about the making the design.
Materials: Polymide and steal
Material Cost: P:$1/lb S:$0.36/lb
Manufactured cost: $0.68
Concerns: Making the cup actually tight up at the slightest touch, similar to touch lamps, while keeping it light and won't electrocute the user as it experiences wear and tear.
Taco Ski Bag
Material Cost: $12/lb
Weight: 4 lbs.
Manufactured cost: $96
Concerns: Making the ski bag affordable while at the same time durable using organic materials.
Heated Ski Suit
Materials: Spandex and Copper
Material Cost: S: $4.53/lb C: $3.01/lb
Weight: 4 lbs.
Manufactured cost: $32.20
Concerns: Keeping the heating coils flexible enough so that it doesn't restrict the racer's movement. Also, to have enough coils to keep the skier warm as well as a power source.
Bunny Slipper Bindings
Materials: Polycarbonate and steal
Material cost: P: $2.00/lb S: $0.36/lb
Weight: 3.3 lbs.
Manufactured Cost: $7.44
Concerns: To design the bindings in such a way that would promote the learning of children while maintaining the function and safety of the traditional binding design.
Materials: Nylon, polycarbonate, and steal
Material Cost: N: $3.00/lb P: $2.00/lb S: $0.36/lb
Weight: 1.25 lbs.
Manufactured Cost: $3.64
Concerns: To create a quality product while keeping costs down. There are many different kinds of straps on the market, so trying to get this one to stand out against all of them.