Innovation: Space Saving Suitcase Time frame/budget & value of the product it pr
ID: 384553 • Letter: I
Question
Innovation: Space Saving Suitcase Time frame/budget & value of the product it provides its customers and the needs it meets.
Idea: Suitcase invention in which has a compartment that has a vacuum seal section that can store dirty clothes, extra clothes creating more room for traveling.
---> in 750 - 1000 words, create a time frame with how to invent a product (space saving suitcase) and budget along with the value of the product it provides customers and the needs it meets in order to create a invention.
Explanation / Answer
You can outline this business plan as an executive summary using the following paragraphs to guide you through.
As more number of people are travelling to various destinations be it on business or for family vacations, the need for smart packing solutions need to be designed to suit or cater to these demands. Upon a survey conducted of our existing baggage solutions, we have gleaned that our customers are also interested in having a separate compartment for storing dirty clothes or accessories that require to be separated from the main compartment.They are willing to pay a little extra, around 10%, above the price range that we have set for our check-in luggage line.
In this regard we at 'Smartbags' have come up with the idea of a separate compartment in our existing design to allow for the storage of soiled or dirty clothes that need to be packed separately from the main compartment. An additional feature of this compartment would be to have a vaccum seal and to be 1/4th the dimensions of the main compartment. This design is especially going to be in our existing 'Traveleazee' luggage line. Also we are trying to acheive the new design at a difference of $45 above the price range set for the Traveleazee luggage line.
Since we we have two existing production lines that are used for producing the 'Traveleazee' luggage design, we at 'Smartbags' have decided to dedicate one production line for outfitting the new design which will be called as 'Traveleazee plus', from mould formation uptil fininshing. The Time frame alotted for this new product from invention to production is 6 months and the budget allocated is $100,000 over the period. The following table depicts the business plan for the new design.
Through this new design idea we are trying to achieve optimization of interior space while offering customers' quality and satisfaction through innovative ideas keeping in mind the price constraint, which is to be less than $45 that the customers are willing to pay extra for the new design .Our priority is to meet both cutomers' needs and airlines' requirements.
Activity Stage of developing Time frame Budget(in $) 1 Selection of design from several possibilities 30 days 600 2 Select material that the bag will be made up of 22 days 900 3 Vaccum seal component Test production of 10 bags 30 days 15000 4 Quality analysis/checks and review 24 days 10000 5 Trial pilot run of 1000 bags 40 days 40000 6 Quality review and full scale production approval 35 days 20000