Assignment #7

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Assignment #7: Idea selection and Pitch

This week's assignment is not the hardest, but definitely the most intimidating. The goal of this week is to determine what idea we are going to run with to pitch in front of a panel of people who will determine whether or not the idea is worthy of investment.

Part 1: Narrowing Down the Choices

This first part starts with the use of a Pugh chart that benchmarks our ideas in comparison to one idea of our choice based on selected criteria, as seen below.

Scan 28.jpeg

I chose to use ski slipper bindings as benchmark.
The Taco ski bag scored low for multiple reasons. The wrapping concept of the bag is not innovative. After last week I ran into a ski bag called the Ski Burrito produced by North Face that was just introduced last season. This not only takes out the innovative criteria, but the competitive and unique as well.
The Ski strap idea would be lost in a sea of straps for it does not stand out in the market, although it has market potential.
The glow cup is innovative, unique and a clear need was found from the survey. I don't have the competence to implement the idea, nor could i communicate how it would work. The other worry is if it would stay within the price range of what people would be willing to pay for the amount of technology, motion sensors and touch light features.
The Heat ski suit received the highest score. There is definite interest or need for it, but I would need to put more research into how I would actually implement the idea. At first I thought I'd use spandex, but then realized that the synthetic material my melt when in contact with the heating element. Also, since it would be in a race suit it would be susceptible to being hit by gates, which might break the fine wires needed to keep it flexible enough. How to power it also would be a challenge. The idea needs to be more developed than its current state to move forward.

My pick ended up being the bunny slipper bindings. This idea started out as a joke, but the value was steadily realized. It has learning aspect to it as well as a functionality one.
It's a simple idea that provides a personalization factor to the ski bindings outside of the color, and since the target market would be for skiers from 3-6, the bindings would be grown out of before it would no longer be applicable.

Step 2: Name and sketch

At first I wanted to call them Binding Buddies, but then remembered that the rhyming names were viewed as cheesy. So instead I decided on Growl Bindings.

skibinding1.jpg


the following is my video, note that I do plan on having a better visual than the paper.


My First Project.m4v

3 Comments

First off, I personally don't think binding buddies is too cheesy, especially with the target market. I like it better than growl bindings.

I really like the idea of distinguishing the head and tail of the ski with the animal, and can see kids loving the personalized feel. In regards to the pitch, you got a lot of solid factual content that is engaging. A couple suggestions, try to incorporate the numbers into the pitch a little more than having them as a side note tacked on at the end. Also, be confident! You have a great idea that the 'investors' will be interested in.

Yeah keep in mind that if names do rhyme it doesn't always imply the name is cheesy. I very much prefer binding buddies, plus I think kids would like the name more. Great job on the poster! It shows really well who you product is targeting. In your video you get the idea across but I could tell you were looking at notes, at the presentation today you did great so no complaints on that. Maybe add a bit more energy move with your hands more and speak louder.

I was astounded by your visuals in the presentation on Tuesday. You have a great idea and you presented it very clearly,and the visuals really helped get it across. I agree with the other two commenters that "binding buddies" does not sound too cheesy considering your target audience. I think you absolutely picked the right product to go forward with, and your pugh chart was very neat and visually pleasing, though slightly hard to read due to the small handwriting with a relatively thick marker.

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This page contains a single entry by orrxx118 published on December 8, 2013 9:26 AM.

Assignment #6 was the previous entry in this blog.

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