The Success of a New Product Essay

The Success of a New Product Essay

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The Success of a New Product

Feasibility Analysis

Introduction

Our product is a toilet seat that lifts up with the step of a pedal.
The purpose of our report is to test whether or not our product will
be of success and or test what things are necessary to launch our
business, J.J.L. Industries.

Concept Testing

The ‘Toilet Stepper’ was tested using a survey that was designed to
understand the bathroom experiences and habits of all types of
individuals (Male, female, young, mid-aged, old). When discussing the
concept with the surveyed individuals we found that overall everyone
thought it was a good idea, however, some males felt it was sexist
that they needed to have to pick up the toilet seat and put it down
when finished. These individuals felt that a woman should have to put
down the toilet seat and lift it back up when they are done with it.
(These were generally married couples). While asking some key industry
participants such as Home Depot and Menards about the idea and survey
they tended not to comment, stating it was against company policy
and/or the boss was overlooking them and they would prefer not to take
part in the survey. The most information we received through them was
through the verbal conversation which we will call ‘interviews’.
Through the ‘interviews’ we found that the industry participants felt
that it was a good idea and also found it quite humorous.

Our Concept Statement was mainly showed to relatives, friends,
classmates, and strangers. Unfortunately the our concept statement was
not shown to companies/businesses due to the fact that companies could
neither partake in the activity (company policy/work time) or they
didn’t have time for ‘non-serious’ business related issues.

Overall we learned that just about everyone is picky about
restrooms/toilets. We also learned that it is very hard to get
information from key people when there is no reward or benefit in
return. Being viewed at as a student doing research rather than a
business partner, company managers/employees don’t seem to have or
want to take the time to help you. If we were to do this again we
would most likely hide the fact that we are students taking
introducing an idea and taking a survey and pretend more like we are
actually in the business of selling these ‘Toilet Steppers’.

Usability Testing

We conducted our u...


... middle of paper ...


... toilet stepper is not really high because of all of the
capital that was given to us by Louie’s father and how inexpensive it
is to produce the product. The break-even point in units is 2,280,
which is a low number for the year. This means that we would have to
sell about 44 units per week to get the $45,000 dollars that the three
owners put into the company at the beginning of the year. The rate of
return that we are looking at is about 115% on three owners’
investments. The rate of return is high, but that is also because the
net income is high, since our costs are low. The rate of return could
change, of course, depending on what the plans for the company are in
the future.

Works Cited

Chantanuser, Wichit. “Bowled over: Toto of Japan Elevates Mundane
Bathroom

Fixtures” Bangkok Post 27 May 2005

“The Nearest” PerformanceToilets.com 1 Nov 2005

http://www.performancetoilets.com/index.asp?PageAction=Custom&ID=7

“The Toilet Marketplace” Supple House Times 1 Nov 2005

http://www.supplyht.com/CDA/ArticleInformation/features/BNP_Features_Item/
0,5333,107103,00.html

Stratton, Lee. “Super Toilet Not Only Rises to Occasion But
Refreshes.” The Columbus

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