We have prepared a feasibility plan for the WhitePointer. The WhitePointer is an ‘all-in-one’ presentation tool that provides the solution of what tool to use when teaching, speaking or presenting.
The purpose of this feasibility plan is to develop a lucrative option for penetrating the market share and to gain brand recognition for the WhitePointer.
The WhitePointer can be seen as unique because there is nothing of its kind that exists within the market.
Trademark and copyright will be used to protect the idea, design and features of the WhitePointer.
Positioning the WhitePointer as an ‘all-in-one’ presentation tool enables us to target a large growing market. The potential target market includes people in any setting where they give any sort of presentations. This allows them to position themselves away from competitors by emphasising the benefits. Throughout the feasibility plan, we focused on penetrating the South Australian market.
Financially, the WhitePointer will provide a sustainable business idea. Not much start-up cost is required, and the potential for profit and growth is extremely possible.
1. The Business Opportunity
Having all the right tools to present at a conference, in a meeting or just to an everyday class can be hard to utilise. Switching between a white board marker, a laser pointer and a slide clicker is at times very frustrating, time consuming and can also be seen as unprofessional. There is nothing worse then running out of ink in your marker, having to keep going back to you computer to click for the next slide or to getting in the way of the display, trying to point to something on the slide.
This problem creates an opportunity for an ‘all-in-one’ presentation tool to be created – The WhitePointer. The use of the WhitePointer will provide a combination of key presentation tools into one simple, easy to use package. There will no more switching between tools, trying to find what to use, running out of ink or having trouble trying to point to what you are talking about. This will all be solved with the use of the WhitePointer.
The WhitePointer is unique because there is no other device like it in the market. It provides all the necessary tools needed to present. The WhitePointer will provide the ‘all-in-one’ experience when it comes to presentation.
2. The Product
2.1 Product Description
The WhitePointer is an ‘all in one’ presentation tool. It combines several key utensils used in presentation work in to one simple, easy to use package. The laser pointer, clicker, USB Port and refillable white board marker are all packaged in to a singular sleek design that can be easily carried by the user, meaning they never have to switch between devices half way through a presentation.1
2.2 Stage of Products
The WhitePointer is a combination of already tried and proven technology. The clickers, laser pointers and white board markers are already widely used throughout the world; it is only the combination of these items that provides the new product line. The design and layout stage is the next step in the process, followed by prototypes and trailing for production. The design process will involve the issues relating to component configuration and storage.
The product is limited in that once it is produced you cannot add/remove additional features. This may be an additional design feature that could be looked at down the line, however, initially it will be designed to incorporate the three tools in to one, non-adjustable article. Future developments may also include a widening of market areas the product can be used in.
2.3 Intellectual Property
IP protection can be covered in several ways, the first of which being the patent. This may be both expensive and difficult, however, as all the technologies being used are already common knowledge to the community. As a result this is advised against unless a special design configuration or wiring system is developed. The second idea is the trademark.2 This is an excellent idea for this particular design. By designing a product that is the ‘top of the line’ presentation tool, possibly with a white matt finish and several distinctive features, the trademark can protect the product as the benchmark in the industry and either prevent competitors from entering the market or reduce the market share they are able to obtain. This will help protect the ‘prestige’ of owning and using a WhitePointer.
Copyrights can be used on the name and possibly special design features of the WhitePointer (such as the word ‘WhitePointer’ encompassing the capital P in Pointer). Finally, confidentiality agreements can be used in the design and prototype phase to avoid larger companies creating rival products before the WhitePointer is on the market.
2.4 Government Approvals
There are very few issues related to the importation and sale of an item such as the WhitePointer. The main concern would be the fact that this item would be produced and assembled elsewhere within the world and then transported to Australia for sale. This would require a number of checks on the items as well as a qualified importation license. There may also be some technical issues related to the importation of a laser, however, since the laser would be of low intensity there should be no major dilemmas, as it would not be considered a weapon.
Further investigation is required in to the appropriate forms and licensing agreements required for importation, sale and distribution of this product within South Australia. At this stage, small amounts of investigation have shown that there are very few limiting rules and regulations.
2.5 Product Liability Considerations
Liability of this product is in the medium to low risk category. The potential obvious dangers revolve around the laser. When lasers are pointed directly in to someone’s eye it can cause potentially permanent damage. This risk, however, can be severely reduced by using low intensity laser pointers, as commonly found in most modern day presentation laser pointers. It is assumed that since it is a presentation tool, the presenter will be standing fewer that 6-7 meters away from the object they wish to point at, meaning that low intensity lasers can easily be implemented without compromising product quality.
The only other possible design risk associated with the WhitePointer is related to the refillable whiteboard marker. The whiteboard marker ink is not safe to consume and, during the refilling process if someone were to accidentally consume some, the consequences could be severe. This, however, cannot be avoided, meaning safety warnings may be required when selling the refill inks.
2.6 Future Spin-Off
The potential for product spin-offs is enormous. In addition to the idea mentioned earlier about the possibility of making all components attachable/detachable, there is a large selection of additional components that could be incorporated in to the designs to increase their areas of use. For instance, the clicker could use ‘Bluetooth’ as its means of transmitting signal, meaning it could wirelessly control iPods, cell phones and even cd players. It could incorporate a volume button that would allow you to adjust the volume of video presentations, and could even incorporate a ball that could be spun to control a mouse on the screen. The product could, as a result, move in to the universal remote industry and provide a very different alternative to the ones currently on the market.
Production would likely be performed throughout several factories. Having each component produced within its own factory then shipped to an assembly factory may prove costly, however, would ensure the quality of the product and make each factory accountable for their own section of the design. In addition, this method of production will help protect the inner circuitry of the product and help in protecting the design.
3. Target Market
3.1 Market Size, Location and Growth Trend
Due to the nature of the product being extremely mobile, the market includes people in any setting where they give any sort of presentations. This would include lecturers and teachers in the educational department, presenters in the business environment, and speakers attending events such as conferences, conventions, and any other type of speaking event.
To identify the location of the market, we need to know where potential customers/users are geographically located. The location of the market within in South Australia is located mainly in the CBD and along the coastline.3 To evaluate whether such a market exists in other major cities in Australia and major cities in other countries, similar correlation of data could be used, though more extensive market research would be required
Similar distributions occur for other professionals that are in our market. This means that the market is located in major metropolitan area, especially in the central business district as well as beach areas.
Below are is a table of professionals within Australia in each industry where potential customers lie, and using the percentages it is possible to estimate the size of the market in Adelaide.4