The Success of a New Product Essay -- Marketing Toilet Seats Retail Co

The Success of a New ProductFeasibility AnalysisIntroductionOur product is a toilet seat that lifts up with the tread of a pedal.The purpose of our report is to test whether or not our product allowbe of success and or test what things are necessary to put in our vocation, J.J.L. Industries.Concept TestingThe Toilet Stepper was tested using a survey that was designed tounderstand the bathroom experiences and habits of all types ofindividuals (Male, female, young, mid-aged, old). When discussing theconcept with the surveyed individuals we found that boilers suit everyonethought it was a good idea, however, some males felt up it was sexistthat they needed to have to pick up the toilet seat and put it downwhen finished. These individuals felt that a woman should have to putdown the toilet seat and lift it back up when they are done with it.(These were generally married couples). small-arm asking some break industryparticipants such as Home Depot and Menards about the idea and sur veythey tended not to comment, stating it was against company policyand/or the boss was overlooking them and they would prefer not to takepart in the survey. The most information we received through them wasthrough the verbal conversation which we will call interviews.Through the interviews we found that the industry participants feltthat it was a good idea and also found it quite humorous.Our Concept Statement was mainly showed to relatives, friends,classmates, and strangers. unluckily the our concept statement wasnot shown to companies/businesses due to the fact that companies couldneither partake in the activity (company policy/work clock time) or theydidnt have time for non-serious business related issues.Overall we learned that just about everyone is picky aboutrestrooms/toilets. We also learned that it is very hard to getinformation from key people when there is no reward or benefit in fork out. Being viewed at as a student doing research rather than abusiness partner, compa ny managers/employees dont seem to have orwant to take the time to help you. If we were to do this again wewould most probably hide the fact that we are students takingintroducing an idea and taking a survey and pretend more like we areactually in the business of selling these Toilet Steppers. Usability TestingWe conducted our u... ... toilet stepper is not really high because of all of thecapital that was given to us by Louies tyro and how inexpensive itis 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 tosell about 44 units per week to get the $45,000 dollars that the terceowners put into the company at the beginning of the year. The rate ofreturn that we are looking at is about 115% on three ownersinvestments. The rate of return is high, but that is also because thenet income is high, since our costs are low. The rate of return couldchange, of course, depending on what the plans for the company a re inthe future. Works CitedChantanuser, Wichit. Bowled over Toto of Japan Elevates mundaneBathroomFixtures Bangkok Post 27 May 2005The Nearest PerformanceToilets.com 1 Nov 2005http//www.performancetoilets.com/index.asp?PageAction=Custom&ID=7The Toilet Marketplace Supple House Times 1 Nov 2005http//www.supplyht.com/CDA/ArticleInformation/features/BNP_Features_Item/0,5333,107103,00.htmlStratton, Lee. Super Toilet Not Only Rises to Occasion ButRefreshes. The Columbus