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Product Innovation Part 3

In: Business and Management

Submitted By mnb1956
Words 7194
Pages 29
Contents PIC and target market summary 3 Chartering for Ideation 4 Top 5 Ideas 4 Concept Ideation process 7 Controlled Convergence 8 Positioning statement 10 Product concept 11 Competitive comparison 11 Perceptual map 12 Product design 13 Pricing Strategy 16 Costs 16 Sales Forecast 16 Sales Forecast 17 Profit and Loss Statement 17 Table: Profit and Loss Statement 18 Sensitivity Analysis 18 Margins 18 Break-even Analysis 19 Payback Period 19 Net Present Value of Future Cash Flows 19 Unique selling proposition 20 Launch 20 Fitbit advertisements 20 YouTube Viral video 20 Reebok: Crossfit Games 21 In store/ on ground- gym facilities and sporting events 21 Digital social media 21 Website traffic 21 Google Ad words 22 Feedback 22 Media schedule and messaging 22 Electronic direct mail 22 Stock sale and monitoring 22 Sales statistics 22 Gant media schedule 23 Potholes 24 Call to Action 24 Appendices 1 26 Brainstorming Method 26 The Worst Idea Method 26 Relationship Analysis Method - Multi-dimensional / morphological matrix 27 Problem based approach using Voice of Customer through product reviews 27 Highs 28 Lows 28 Highs 31 Lows 31 Market based ideation 32 Problem Analysis of workout market 32 Attribute ideation Method 33 Appendices 2 34 Appendices 3 36

Executive Summary
PIC and target market summary

Health is opening up a new revolutionary advances within the industry of wearable technology. It is at the beginning of a massive mainstream uptake of wearable devices. According to the ABI research (2011), over the next % years, growth in the wearable wireless devices will be driven by the sports, fitness and wellness segment of the consumer market.

With such a strong emphasis being placed on establishing a healthier lifestyle, adoption of wearable technology among

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