A group of Pace students in a new product development class came up with a number of new ideas for skin care and sun protection products. After graduation, they formed a small company called "Pace Yourself Skin Care". They were short on capital, but had a lot of very creative ideas. They also were able to sign on as a partner a research scientist who specialized in skin care products to help them with their research and development.
One of the most novel of their ideas was a new suntan lotion that works like a roll-on deodorant. This roll-on product would allow users to select up to three different SPF factors of lotion simply by rotating a dial on the product. Whatever SPF was selected would come out when applied.
The partners of the firm want to pitch this idea to some venture capitalists interested in providing funding to the company if they can come up with some winning new product ideas. They also need to determine if this product is worth developing further. Additionally, they have not fully designed all aspects of the product and they want to product design and feature decisions that are market-oriented. One of the partners is a friend of yours who knows you have a lot of free time. He has hired you as a consultant to put together a concept test to help you accomplish these objectives.
1. First you need to write a concept statement for the product. Be sure to give your client at least two alternative approaches he could use for this statement.
2. Next you need to write some questions designed to help your client determine if there is a good market for this product and if it is worth investing in further. Be sure to include some questions that will help them make their case to the venture capitalists.
3. Be sure to also write some questions that will help the company
refine and modify the product to produce the best, most market-oriented
product possible and avoid possible pitfalls in product introduction.
* This case is a fictitious case written by Dr. Kathy Winsted based
on a product invented by students in her New Product Development class
at Pace University.
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