1. You. I am a college student at the University of Florida. This course is the first thing to introduce me to the entrepreneurial route, but I have had key personality factors my whole life that allow me have potential to be a successful entrepreneur. I am extremely goal oriented, I like to set big goals for myself. Once I have a well defined goal, I usually will get a bit obsessive over it. Making sure I do everything in my power to achieve that goal, so far most of my goals I do achieve. I also am very empathetic, which allows me to relate to consumers more and realize how they really feel about a problem or a product. Lastly, I am motivated. I believe that motivation is one of the biggest factors in many lines of work, especially entrepreneurship.
2. What are you offering to customers? I am offering to customers a resealable option on chip bags. I will be targeting large party bag size of chips. My product will be a full adhesive seal that extends the entire length of the chip bag. The seal will be strong, yet resealable as well. This will solve consumer needs by offering an option to instantly reseal a chip bag, preventing staleness before you have a chance to finish the bag. Currently, consumers have to rely on chip clips (which easily break or are lost) or just rolling the bag up.
3. Who are you offering it to? Currently I am debating on whether or not to focus the target on the manufacturers of chip bags. If I go this route, I have several decisions to make. I can form a partnership with one manufacturer that maybe does one brand of chip, or I can open it up to several types of brands. My target customer has the commonality that they all manufacture bags for chips, bags that do not have a resealable option.
4. Why do they care? Chip companies care because a resealable option gives them leverage over a company that does not have one. It also gives the image of higher end (well the most higher end you can get for a chip market). Customers will respect the product/company more and associate them with quality. This means profits have the potential to increase. Manufacturers care because that can bargain higher prices for adding in the seal, and it will be very easily to physically implement with todays technology.
5. What are your core competencies? Physically, what I have that no other has is an option to instantly reseal chip bags. I also have the advantage of being a college student where college students are a large percentage of the consumer makeup. I also have the motivation and drive to actually make it happen.
I believe that my 5 points on the idea napkin assignment do work well together. The only aspect that I believe is a weak point in the design currently, is meshing out who I will be exactly targeting in terms of manufacturer/supplier/company.
Becky,
ReplyDeleteI'm old fashioned to be sure. I just use clothespins. I can buy a set of 50 for a $1 at the dollar store. Don't most college students open the big bags for partys and throw out the leftovers the next day? When my kids were still living at home a bag of chips didn't last long enough to worry about going stale.
I don't mean to come across as negative, I am just trying to give you another angle to look at the concept. Good luck.
Hey Becky,
ReplyDeleteI like the idea of a chip bag you can reseal. What we do in our house now is pour them into vacuum tight canisters in the pantry. The mission with that is every time we come home from the grocery store we have to open bags and fill them up. Additionally, the whole bag doesn’t fit in there because we buy them at the wholesale clubs so every once in a while they go stale before we can refill the container. I just don’t know if customers are willing to pay a premium for that. If the chips can stay around the same price range I see how one would most likely reach for the chip bag you can reseal than the traditional bag.
Link to my blog post Idea Napkin #1: http://ent3003blogger.blogspot.com/2016/06/idea-napkin-1.html
Becky,
ReplyDeleteI like the idea of your resealable chip bag. My family and I only really eat tostitos chips with salsa and often times we don't finish the entire bag. Usually what happens is the last quarter or so of the bag gets left and becomes stale. Then we open the new bag and the same occurs. I think your idea can also be applied to medium sized bags or even the small bags. I could envision my self or other students walking to class eating chips then sealing them up and putting them in their back pack for later.
Here is the link to my blog:
http://norrisufent.blogspot.com/2016/06/idea-napkin-no-1.html