Evaluation

| 2 Comments

Creating new product ideas was a very fun experience. Seeing some of my favourites fall from the selection process was not. of the ten selected ideas, only five remain. here we have the ideas up for nomination

allofem.png

of the ideas, votes went as follows

Moose Minora: 6 yes votes, 12 no. Cost rang $20-25
the reason "i'm not Jewish" was the main reason for no, however hunters liked the idea of candles on horns and would like to see that option pursued further.

Weight gainer seasonal bar: 7 yes, 11 no.
most people did not have need for extra calories.

Holiday Yeti: 7 yes, 11 no.
Those who liked the idea wanted a variety of sizes, and did not want the yeti to replace the holiday tree, but be a supplemental decoration.

All in one scarf goggles hat: 12 yes 6 no.
many who said yes were moped riders.

candycane/peppermint coconut water. 5 yes, 13 no.
the idea of peppermint and hydration seemed to odd for most

Penguin Feet boots: yes 2, no 16
those who said yes, said so conditionally. "maybe if they were for a baby"

Eggnog Protein shake: 13 yes, 5 no
seemed to be a hit across demographics.

Seasonal weight maintenance bar: 16 yes, 2 no
I was informed this product already exists. which may be why people liked it so much.

Complete holiday healthy meal (rehydrate water, bar): 4 yes, 14 no.
those who liked the bar, liked the complete deal.

Treat Planner: 7 yes, 11 no
size was a constant question on this product.


The top 5 results in order of popularity
Seasonal weight maintenance, 16 yes votes
Eggnog protein shake 13 yes
All in one scarf goggles hat 12 yes
Holiday Yeti, Treat Planner, weight Gainer bar 7 yes.

with a tie for 3rd place, I opted to combine the Holiday weight maintenance and weight gainer into one product with 2 options. Moving forward, we not have our 5 products.

Benchmarking


The first product in terms of popularity is that of a holiday health bar.
as I suspected, that bar already exists.
seasonalcliff.png
Therefore a new product in this regard would need to fill a niche that there is need for. The current cliff bar products for the most part are not the best tasting, but have good nutritional value. A new product could fit in if it were perhaps a better tasting, and cheaper variety. This would be easier for the weigh gainer bar than a weight maintenance one. seasonalcliffmatrix.png

For the eggnog protein shake, I found only one product. This was Moderately priced at $20, and the reviews on taste were generally favourable. In order to break into this market, I suggest a pre made ready to use shake, rather than powder a powder, although a powder option is still viable. the current way to get eggnog shake is make your own, or buy in powder form.
egnoggdiagram.png

For the all in one scarf hat goggles, there was no such product I could find that encapsulated all the features. The closest two items were a motorcycle helmet priced from $200-2,000 and which lacked the scarf feature, and the beanie with goggles which lacked the face protection as well as scarf feature priced at $129
maskdiagram.png


The treat planner is an offshoot of the daily pill planner already used worldwide. they are relatively small and inexpensive around the $3-10 dollar range. therefore the idea of a larger one will definitely be novel. the usefulness will depend on the customer, but there is a potential market in a large, slightly more expensive model "treat planner".
treatcase.png


My personal favourite, the holiday Yeti is by nature a novelty. however, it is a novelty people are willing to pay for. a recent skymall advertisement had a 6 foot tall yet sculpture for around $2,000 and as I learned from the lovely people at 3M today, things in skymall are products that sell! it is with that in mind, we present the substantially cheaper, holiday yeti modelled after the light up santa or fake christmas tree.

yetidiagram.png


patents

for the cliff bar, the patent was quite easy to find, as were many other other "energy bars". also included were weight gaining bars that were for humans and other for animals. Improved taste energy bar: EP 1443829 B1
weight gain bar: WO 2006034570 A1


for the the eggnog shake, there is an existing patent according to the Spiru-Tein company, but i was unable to find it specifically, only it's general patent for protein shakes. I did find one eggnog protein patent, but other eggnog protein shake or protein powders did not seem to exist. Spiru-Tein shake: US 20080206430 A1


for the hat goggle scarf there were no existing patents I could find. the closest were as follows
Goggle attachment system for a protective helmet: WO 2012099631 A1
An eyewear assembly for attachment to a hard hat: EP 2366298 B1


for the treat planner, the pill planner it was based on was a similar patent.
Pill pen with a pill cutter and grinder: US 20130298408 A2

lastly, the Holiday Yeti was similar to an artificial tree, as well as a glowing santa.
Artificial christmas tree: WO 2009042096 A2
although the yeti does not necessarily have to be a lawn ornament, this patent is for similar products.
Decorative articles with dissimilar nestable parts: WO 2002030248 A1


Possible complications

When it comes to evaluating the possible issues with the products, each brings it's own unique challenge.

with the weight maintenance/Gainer bar there is already an established market, and one that could easily be viewed as over saturated. this means in order to break in to this market our product would have to offer something new or novel.
without being able to find a price for ingredients, I looked around for existing bars, and they ranged from $$1.00-$3.25


in the case of the eggnog protein shake, it would be difficult to found an entire company on the premise of one holiday drink. It may be best if the idea and perhaps rights were sold to an existing company such as muscle milk or powerade.
again, I was unable to find a list of ingredients to make a protein shake as far as raw ingredients go. In order to find an estimated cost I reverse did rough cost estimate in reverse. a 10 lb whey protein bag with 149 servings cost $185. that amounts to $1.24 per serving, divided by ten would be about 12 cents per serving. add in another 12 cents for 2 ounces of plastic for the bottle. total estimated cost per item of 25 cents, and therefore $2.50 per bottled shake

in regards to the all in one scarf hat goggles, hammering home the idea of complete protection from cold would be essential. it may be difficult to get people to break from what they are comfortable with but when confronted with the benefits they may be swayed.
estimated cost. 1 yard of fleece at $4 per yard, combined with a modified plastic for the lenses at 90 cents per pound. 10*(1*4)+(.9*.25)= $42.20 per item.

for the holiday treat planner, convincing people that this product will help them curb their sweet consumption is essential. it is a product that is more of a gimmick than a real need, so it must be billed as such.
estimated cost. 1/4 lbs plastic. 10*(.25x .9)= $2.20 per unit.

The holiday yeti falls under the novelty category again, but so do most Christmas decorations. promoting this product as a religion neutral yet holiday festive will be one of the strong points.
depending on the size, this Yeti would weigh from1-10 pounds. this item would be made of plastic and cotton.
10*(10*.9)+(1*.79)= $16.9 for a larger Yeti weighing ten pounds. and about half to a quarter of that for smaller ones.


All of these items estimated costs fell within the range the interviewed subjects said they would be willing to pay, and often times on the lower end.

2 Comments

Hi Alec,
I liked your introduction and must say that I shared the experience of watching ideas I though were cool fall off the list :)

Thanks for putting all the product images at the beginning, quite helpful. I actually laughed out loud when I read about the Weight gainer seasonal bar, not a bad idea as such, it's just that most people strive for the opposite. Might be marketable for hospitals for instance.

You could have included the questions you asked in your survey.

I find the 2x2 matrixes to be lacking in number of products for comparison and holistic image. Prices would have been good as well. For the all in one scarf-hat-goggles, I think you missed out on balaclavas. I found a product that does the same job as the product your proposing. Google "Trail Summit Balaclava Columbia" to check it out.

Hi,

I appreciated your thoughtful analysis and documentation. Your post was easy to follow in all but one regard, it took me a while to figure out what some of the products were. In your report of interview/survey results, following your initial graphic, it might have been useful to include a very brief description.

I wondered what you asked in your survey or interviews. The detail you provide on responses would be more useful if contextualized.

The first graphic was very helpful for seeing all of the considered items side-by-side. I did find the text a bit difficult to read, and it was varying shades of yellow and green. A bit of cleanup would have improved readability.

I found your 2x2s a little difficult to interpret. Labeling of the axes could would have helped, and more comparison (although I recognize that in some cases comparatives were hard to find). In all, this part of your analysis seemed weakest.

Estimating seems to be something you are comfortable with. You provided significant information about your considerations here.

Julie

Leave a comment

About this Entry

This page contains a single entry by ortiz087 published on December 3, 2013 8:47 PM.

Structured Idea Generation was the previous entry in this blog.

pitch... is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.