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CREATE A NEW PRODUCT AND PROVING THE DEMAND The product that we created is a newly designed toilet known as the Mans Toilet. At first thought, this product seems to be a useless testosterone filled product. However, this product offers many advantages and benefits that many might not have initially thought of. It has many product features that include physical, real, and extended features. The physical product is the tangible product, which the customer buys. These characteristics include that the consumer who buys the Mans Toilet can sit down and relax during an otherwise stressful situation.
This product includes an automatic seat lifting device as well as an automatic flushing system. Along with these great features are options to suit anyones needs; a vibrating backrest, handle grips for easy in and out, and a cushioned seat for added comfort. The real product consists of the benefits that the customer receives from owning our product. The Mans Toilet includes many benefits that a customer would want.
The main benefit would be that the hassle of lifting and putting the toilet seat back down would be eliminated along with the sanitary problems caused by touching the germ infested handle. This means that consumers would be able to easily deal with the task at hand. There would be no more wife yelling at you to put the seat down, a common household argument. The backrest provides a relaxing environment in a place that is sometimes your only escape from the noisy household. The handle grips provide easy access to the toilet and also act as an armrest.
The cushioned seat creates an even more relaxing bathroom experience. Once a consumer found out all the benefits associated with the Mans Toilet, he or she is sure to love it! The extended product features are the complete package of goods that includes all warranties, service policies, reputation, etc. The extended product features are; that after the introduction period, there will be several discounts available, along with innovative accessory options.
Our reputation is good, but we are relatively new to the market. After much brainstorming and thought we, as product developers, followed a series of six steps to completely develop our product. We generated ideas and decided to focus on something that interested us. We came up with a few ideas, but then screened them to eliminate ideas and use the best one. At first, we wanted to create a completely new toilet for the new millenium, but decided that the product would be too costly to have new plumbing installed, so we decided on the modification of an existing toilet.
During the screening process we eliminated many accessories and decided to concentrate on providing a relaxing environment. To develop the product we first had it created and tested in our laboratories. This is where we created a prototype and tested its effectiveness to satisfy its promised features. Few slight adjustments were made, but the basic product proved to be successful in its original design. When test marketed, the consumers reactions were promising because of their positive response to the product. The product was distributed through home improvement stores and on QVC.
We followed up on most sales in the test marked area by phone and had a positive response. The next step in product development was introducing the product because the test marketing was successful. This was expensive due to advertising costs. After introduction, we evaluated the customer acceptance.
We did this through the study of sales information. After following these six steps, our product was created and fully developed. After product development we had to take into consideration that our product would complete four stages of a product life cycle. The first stage is known as the introduction stage. This is where the product would be introduced to the market, and it would draw the customers attention. This would be one of the more costly stages.
It is very important to advertise and create a demand for our new product. During this stage, we would make little profit. Once the product is established, it enters the growth stage where its success and profit increases. By this time the market should be well informed and aware of the new product. With the increased sales, new competition may arise and advertising may now focus on the satisfaction of the consumers to beat out new product ideas of other companies.
Our product would next enter the maturity stage where the sales level off and slow down. The competition is fierce so more money would be invested to keep consumers loyal to our product. The last stage of the cycle that our product would enter is known as the decline stage. Sales would fall and profits would dramatically decrease. The only option we would have would be to drop the product or try to gain more sales. Strategies to increase sales includes selling or licensing, recommitting to the product line, discounting the price, rationalizing the product, or lastly, modernizing or altering the products composition.
The brand name carefully chosen for our product was Mans Toilet. We chose this name because it is everything a typical man would want in a toilet. The name implies what the product does but leaves the consumer curious as to what exactly the title means. The trademark identifies our product with a symbol that represents a king, because this is his throne. Our product satisfies the needs and wants of its customer.
These needs and wants are that customers would find it convenient and relaxing to use the facilities. One reason why consumers would find a need for our product is because toilet activities must be performed often to keep up health and composure. This is a hassle and an inconvenience. Consumers with the Mans Toilet eliminate stress and inconvenience.
Once the consumer finds a desired set of accessories, they will full appreciate the enjoyable experience it provides. To successfully market this product, a five-step process must be completed before going into business. The five steps are to define the problem, obtain data, analyze the data, recommend solutions to the problem, and apply results. First, the problem must be defined. The problem we identified was to create a product that would relax as well as appeal to consumers.
To answer our question, we would obtain data from a personal interview. This involves face-to-face interaction where people would verbally answer the questionnaire. The questionnaire is designed to find out the average amount of time spent in the bathroom and how customers feel about frequent or long visits. This would allow us to design a product to solve their complaints. The interviews would be set up at malls and local shopping centers. This method was chosen because it is often easier to get cooperation from the target market when they talk rather than write.
This would provide us with a sample of the target market, which we could assume represents the entire targeted population. The third step would be to analyze the collected data. We would use the answers of the questions to get a feel for a way to solve the identified problem in step one. The next thing we would do is use the data to recommend a solution to the problem. A report must be made to draw conclusions from the research. We could conclude from the report that people did not enjoy the long visits to the bathroom and did not like the existing toilet design when offered a more luxurious alterna...
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