Problem: Have you ever been watching television while in the comfort of your home when you see an actor that you cannot put a name to? after thinking about the answer, and possibly even googling it, twenty minutes later you put a finger on it only to find that you really were not paying attention to the last 20 minutes of your program. Up untill now, the nuisence of not knowing that actor was just something that you had to deal with.
Idea Generation: Introducing the new TV-AID system for all dish and direct tv remote controls. The AID(Actor Identification Device) is a small modification that can be added to your remote control simply by visiting your local Best Buy, Walmart, or Radio Shack. a small computer board, button, and speaker will be installed into your Remote Control, and in no time your remote will be able to name actors as well as give a detailed description of them. All you have to do is point, push, and listen for your answer!
Idea Screening: Before this product is released, extensive research has been conducted to gain an idea of just how many people would purchase this modification if it were to hit stores. A healthy 68% of the people we interviewed answered yes. When surveyed on how many people would like it if their remotes had this capability a staggering 92% answered yes, leaving the potential future market very promising for this new invention. To start, it is estimated that this modification would run between 70-80 dollars, but after just two years of production it is estimated that this cost would drop to around 50$.
Business Analysis
Demand- surveys have shown that the demand for a product such as this would be be in high demand. the AID system would be the first of its kind, and will lead the industry of television identification. Its safe to say that this product, will be a high seller.
Consumer Benefits- the consumers of this product will be able to identify any actor of any program or movie on direct t.v. or dish network with just the push of a button. they will even be able to get a detailed description of them.
Risk Failure- as with any product there is the risk of failure. one major risk of failure to this particular product is its price. although this is a very useful product and in high demand, the relatively high price could be a problem. the second thing that could bring this product down is the fact that it may develop some sort of bug after time that did not show up during the testing period.
Development- in order to develop this product, it is vital that our company first have a sitdown with both direct t.v. as well as dish to see how successfully we incorporate the extra parts in to their remote control. if this is successful , we would then meet with walmart, Radioshack, and Best Buy to offer our idea. if they agree, we would need to train employees how to install the new device into television remotes. the total cost to make our product would run between 5 and 9 dollars.
Test Marketing- to test market this product, we would give out hundreds of free prototypes around the country distributed through walmart, radioshack, and best buy that would work for one week. whoever volunteered to try this would also recieve a voucher for 10$ off of the actual product.
