Assignment6

| 3 Comments

I utilized technology and social media to conduct my survey and gather market research this week. With this I collected 30 responses and was successfully able to narrow my ten ideas down to 5!

In no particular order, the following include the data I discovered regarding market research, benchmarking, patents, and material estimations.

IDEA 1: Confetti Popper That Can Pop Rapidly Multiple Times
Market Research - 57% of respondents would buy this product.
A 2x2 of similar products...Multiple Pops 2x2
The patent I found that relates closest to the idea can be found here. This patent protects the shape of a similar confetti popper wand. The top portion can be replaced by another barrel to shoot confetti multiple times (like a refill cartridge). However, it doesn't allow for the user to rapidly shoot confetti out of the same wand the way that this product would.

IDEA 2: Glow In The Dark Rock Salt
Market Research - 60% or respondents would buy this product.
A 2x2 of similar products...
Rock Salt Benchmarking 2x2
The patent that I found which relates to this product can be found here. This patent relates to glow in the dark rosin and how a glow in the dark pigment is combined with rosin. The rosin can be used for both aesthetic and practical purposes, the same as the glowing rock salt would be used. Similarly, the pigment must be combined with halite (rock salt) to produce an effect similar to the glowing rosin.

IDEA 3: Location Text App For Parents
Market Research - 57% of survey respondents would purchase this product.
A related product 2x2...
Location Text App Benchmarking 2x2
The patent that I found which relates to this topic can be found here. This patent, while similar, has fewer capabilities than the product idea of mine. The app I came up with will transfer GPS signals at set increments of time based on the location of the cell phone of the child, not a car GPS. The app texts the parent based on a time increment instead of when the child arrives at certain pre-specified location.

IDEA 4: Flavored Icicle Mold/Maker
Market Research - 53% of respondents would purchase this item.
A 2x2 of related products...
Make your own icicles benchmarking 2x2
The patent that I found which relates to this product can be found here. This patent is an ornamental popsicle shape/design that is similar to that of an icicle.

IDEA 5: Classy, 'Glassy' Confetti Popper, Ceiling Hung
Market Research - 53% of people would purchase this item.
A related product 2x2...
Classy Confetti 2x2 benchmarking
A related patent which I found can be located here. This patent includes the idea for safety class that can withstand heat and pressure. It is made of aliphatic/cycloaliphatic polycarbonate urethanes. Therefore this could potentially withstand the pressure in a small confetti cannon, improving the cheap aesthetic of current confetti cannons and becoming more appropriate for high end parties and 'fancier' applications.

3 Comments

I like how you had all the relevant information for the product grouped together rather than doing each part of the assignment in sections. it allowed me to get a full understanding about that particular product without having to scroll or remember back to different parts of the blog. I would have like to see pictures in your 2x2's so get a better feel of the market for that particular product, as well as more products. Three different products doesn't really give me a great idea of the current market for each item. Also, for your survey results I did not see what the people would be willing to pay for the product. It would have been nice to have a fraction of votes out of 30 rather than a percent. I found myself tying to do the math for each one to figure out just how many votes. What is the the rough estimated cost to manufacture these products?

Jessica

I liked that you presented your findings really succinctly. I also would have liked to see pictures in you 2x2s, mostly because I don't think I've ever seen a fancy confetti cannon. It might have also made it a bit clearer to see where you intend to position your products within the market. I really enjoyed all o your ideas. I think my personal favorite might be the rock salt, but price would be a really important factor in whether or not I would buy it. Were you able to find out what people would pay for each of these? It might factor into your feasibility when you're deciding which product to ultimately go with, especially since these are all such fun ideas.

You did really good on the presentation of this entry. I really like how everything is organized and clear for each products with combination of categories. However, I think putting image in your blog would be better rather than words, since it communicate better that way. Also, try to keep your format consistent. I can see that Idea 4 and 5 were not bolded.

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This page contains a single entry by wall0752 published on December 4, 2013 10:47 AM.

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