Second Shot at Idea Napkin No. 2
1) My name is Jared Narzissenfeld, I’ve spent most of my life in the Orlando area including my first 2 years of community college at Valencia. I have since transferred to UF as general business major. I believe my best skills lie in learning and adapting, I find myself capable of adjusting to whatever scenario I’m placed into and learning quickly to become the best I can be at whatever it is I set my mind to. I have large aspirations in terms of success, I hope to become better off than my parents and peers, I hope to let nothing get in my way of being the best person that I can be. I believe that if I were to start this business that it would become something mainstay to my daily life, in such a way that I expressed earlier by my skills. I could easily see my business being something I put full effort into as a means of being as successful as it and I can be, realizing the idea’s full potential.
2) My product will offer customers a substitute to what is currently on the market, and I believe these current products are inferior. I plan to make a mechanical pencil that solves the issues currently found among the major brands, these include problems with lead, reusability, and convenience. My product will have more durable lead with a more structured pencil so that excessive breakage will be prevented. Additionally, this pencil will have features never before seen that will allows users to refill their pencils with minimal effort, saving money for not only the consumer but for the environment too.
3) I believe the characteristics of my customers can be best described by their demographics, to which I would say is primarily 14-24-year-olds in some level of education from middle school up to university. Furthermore, I believe this product isn’t going to be weighted strongly to other ethnicity’s and such but more focused on age and occupation. I believe most of my customers will be primarily writers rather than people who type on a computer, that is people who prefer to frequently write out their notes and do their work with a pencil as opposed to other options such as a laptop, pen with ink, or just not being much of a writer at all. Ideally this product will be designed for people that prefer writing on paper rather than using electronic devices.
4) I think customers should be willing to spend money for my product as they’re already currently paying for inferior products. Any student that likes to write and chooses lead often uses a mechanical pencil, these pencils can be gone through extremely quickly, I know from personal experience I’ve used anywhere from 5-10 in a single month. Due to the large amount of turnover with pencils I believe people will have a desire to have a pencil they don’t go through as quickly, due to the additional lead in my product, users will choose to purchase it more often as they will be getting a longer-lasting product for a similar price point that will simultaneously be keeping all the thrown away pencils out of the landfills they inevitably end up in, therefore also supporting the environment. My customer market will care about this product as it will be made at little to no more additional cost but with significant benefits.
5) I believe what sets me apart from everyone else is determination, I truly believe I could have an inferior product but with my relentless effort and work I could still make it perform better than any more “superior” product. Furthermore, I truly do believe the product I’ve come up with is like nothing on the market and offers a benefit to users in a way that no other product does in its form of improving reusability, allowing one pencil to last longer than any competitive product on the market right now.
Feedback Memo:
I believe that my five elements do fit together well as my skills and capabilities are represented in my product and the demographics of my customer audience represent people of the same characteristics that my product appeals to. Based off my feedback, I tried to incorporate the fact that the changing times of society with more technology has resulted in a shift away from users hand-writing in favor of using electronic devices. With that said, I believe my target audience will be those people that still prefer to write by hand. Additionally, I believe it's important that I make my product affordable for students and children in my target audience so that they can make the purchase of the product themselves that they may be unlikely to do at a higher price point.
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