product: Pumice stone bath mat COMMERCIALIZATION Initial distribution strategy (direct-to-consumer, wholesale, etc) New venture or license? Why? This is a very important decision! You must have the means to handle manufacturing, distribution and servicing as well as some capital if you venture. Very expensive concepts should probably be licensed, but you’ll still need to develop a prototype and protect your IP. Product line potential: in what ways could you expand your product or service to include additional concepts?
product:
Pumice stone bath mat
COMMERCIALIZATION
- Initial distribution strategy (direct-to-consumer, wholesale, etc)
- New venture or license? Why? This is a very important decision! You must have the means to handle manufacturing, distribution and servicing as well as some capital if you venture. Very expensive concepts should probably be licensed, but you’ll still need to develop a prototype and protect your IP.
- Product line potential: in what ways could you expand your product or service to include additional concepts?
MARKET STRUCTURE
- Overall barriers to market entry: how easy is it to enter this market? What are the implications?
- Overall market attractiveness: consider the size of the market, need for the product/service, projected sales, competition, etc
- Overall risk: What risk factors most concern you, and how will you address them?
- Overall expected value: How well should this product/service do in terms or sales and profit margin? What is the value to customers?
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Introducing the Pumice Stone Bath Mat, a one-of-a-kind and ground-breaking item created to improve the bathing experience. This bath mat offers a revitalizing and spa-like experience in the convenience of your own home by combining the utility of a standard bath mat with the benefits of natural exfoliating provided by a pumice stone. The original distribution strategy, the choice between starting a new business and licensing, and the exciting prospect of expanding the product line to further increase the bath mat's appeal and market reach are all topics covered in this talk.
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