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

The Success of a New Product Feasibility Analysis Introduction Our product is a toilet seat that lifts up with the step of a pedal. The purpose of our report is to test whether or not our product will be of success and or test what things are necessary to launch our business, J.J.L. Industries. Concept Testing The ‘Toilet Stepper’ was tested using a survey that was designed to understand the bathroom experiences and habits of all types of individuals (Male, female, young, mid-aged, old). When discussing the concept with the surveyed individuals we found that overall everyone thought it was a good idea, however, some males felt it was sexist that they needed to have to pick up the toilet seat and put it down when finished. These individuals felt that a woman should have to put down the toilet seat and lift it back up when they are done with it. (These were generally married couples). While asking some key industry participants such as Home Depot and Menards about the idea and survey they tended not to comment, stating it was against company policy and/or the boss was overlooking them and they would prefer not to take part in the survey. The most information we received through them was through the verbal conversation which we will call ‘interviews’. Through the ‘interviews’ we found that the industry participants felt that it was a good idea and also found it quite humorous. Our Concept Statement was mainly showed to relatives, friends, classmates, and strangers. Unfortunately the our concept statement was not shown to companies/businesses due to the fact that companies could neither partake in the activity (company policy/work time) or they didn’t have time for ‘non-serious’ business related issues. Overall we learned that just about everyone is picky about restrooms/toilets. We also learned that it is very hard to get information from key people when there is no reward or benefit in return. Being viewed at as a student doing research rather than a business partner, company managers/employees don’t seem to have or want to take the time to help you. If we were to do this again we would most likely hide the fact that we are students taking introducing an idea and taking a survey and pretend more like we are actually in the business of selling these ‘Toilet Steppers’. Usability Testing We conducted our u... ... toilet stepper is not really high because of all of the capital that was given to us by Louie’s father and how inexpensive it is 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 to sell about 44 units per week to get the $45,000 dollars that the three owners put into the company at the beginning of the year. The rate of return that we are looking at is about 115% on three owners’ investments. The rate of return is high, but that is also because the net income is high, since our costs are low. The rate of return could change, of course, depending on what the plans for the company are in the future. Works Cited Chantanuser, Wichit. â€Å"Bowled over: Toto of Japan Elevates Mundane Bathroom Fixtures† Bangkok Post 27 May 2005 â€Å"The Nearest† PerformanceToilets.com 1 Nov 2005 http://www.performancetoilets.com/index.asp?PageAction=Custom&ID=7 â€Å"The Toilet Marketplace† Supple House Times 1 Nov 2005 http://www.supplyht.com/CDA/ArticleInformation/features/BNP_Features_Item/ 0,5333,107103,00.html Stratton, Lee. â€Å"Super Toilet Not Only Rises to Occasion But Refreshes.† The Columbus