Twc Mid_wk6_twc
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Grip-AidBy team P.O.P.
Rynette TanLo Chuan JianLiow Pu ShengDai WenjingPua Shuan YangEugene Kwok
Team P.O.P
Recap of Problem
How product solves problem
•Fall prevention
•Anti- slip; improved grip
The Final Product
Process to the Final Stage
Prototypes for Grip-Aids
Process to the Final Stage1. Rubber & Plastic Manufact
uring Companie
s
2. Polytechn
ics(Rapid
Prototyping)
3. Rapid Prototypi
ng Companie
s
Market Research
Market research
•Are you willing to buy a detachable grip instead of a new umbrella?
Market research
Seen elderly use umbrella as walking aid?
81%
19%
Yes
No
19%
81%
YES
NO
Market research
79%
21%
Yes
No
Are you willing to buy a newly designed umbrella with improved grip and base?
79%
21%
YES
NO
Market research
•Market Testing
Competitive Landscape
•Product in the market (Red Ocean)
Umbrella Walking Stick
Competitive advantage
Price Ease of Use
Portable Optional Functions
0
1
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3
4
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7
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9
10
Offering Level Blue Offering Level Red
Business Plan
Secure Retailer
Funding
Mould production for mass
retail
Finances
•Required Capital injection: $21000•ROI: 9.56%•Payback period: 1.92 years
Marketing – 4P
Product Price
PromotionPlace
Needs Satisfied
Distribution Channel
Up-to-date methods
Low cost strategy
Reasons to Invest in Grip-Aid
•Solves a pain•Room for market expansion and product
development•Decent Profits while helping the elderly
Q & A