The Inventors School 2022: NAPKIN TO SHELF-Bringing a New Product to Market
Session 2 - February 16th 6pm to 8pm via zoom.
SITUATION: Last month The Inventors School selected the product that the Inventors Network (IN) will be developing and bringing to market in 2022.
In case you missed it, the product we selected is a Parent-Child Activity Toy for toddlers and preschoolers.
The Zoom audience was active, and gave us lots of suggestions and ideas that we will include in our thinking.
WHAT’S AHEAD NEXT MONTH: Between each Meeting during 2022, the IN New Product Team will be “Developing” the Toy Product to the Next Step in the development process. We will be sharing WHAT we have done each month and HOW we did it. Then the audience will give us their ideas on what they like and what we might consider to make it even better. THAT WILL PROVIDE LEARNING FOR ALL OF US!!
• AND EACH OF YOU AS INVENTORS WILL BE LEARNING HOW TO DEVELOP YOUR PRODUCT IDEA BETTER AND FASTER!
• Remember, “Napkin to Shelf” is the theme for the Inventors School 2022 inaugural year. So join us every month, and make 2022 the year that you Take Your own Idea from NAPKIN TO SHELF!
FEBRUARY MEETING AGENDA: We have our product idea, and you should have yours, but the NEXT QUESTION IS CAN WE SELL IT? WHO will BUY It? And HOW will we SELL It?
We will be answering these SIX QUESTIONS for our Kids Toy Product Idea at the same time you get answers for your own project:
1. How big is the MARKET POTENTIAL? How do we estimate the size of the category and sales potential for our product?
2. WHO are the TARGET consumers? Who are the category shoppers that will more likely be interested in our product?
3. WHY will consumers BUY our Toy Product? What is the POINT OF DIFFERENCE that will drive consumer interest and purchase?
4. How will RETAILERS evaluate it? Will it increase sales and/or profits for them?
5. How will we SELL IT? Can we sell It directly? Will need a Manufacture Rep or Distributor?
6. Can we License it? How will a LICENSEE evaluate it? Will a Licensee make money selling it?
TOY PRODUCT PRESENTATION: Every Month Jahn Stopperan, our Lead Developer, will also be showing you the Progress of “OUR” new product from the previous month. As we mentioned above, you will all be able to give us your ideas on what you like and what we might consider to make it even better. THIS WILL PROVIDE SO MUCH LEARNING FOR ALL OF US, ESPECIALLY WHEN YOU MEET THE CHALANGE TO DEVELOP YOUR OWN PROJECT AT THE SAME TIME.
NOTE: February will be a LIVE Meeting at the Eisenhower Community Center in Hopkins!
JOIN US VIA ZOOM, Wednesday, FEB 16th
TIME: 6:00PM-8:00PM