New product strategy & Idea generation:
The strategy is to create a scented pillow that helps relax and ease the body more through smell. One of the hardest things for me to do is fall asleep with a stuffy congested nose. Thats why i came up with the idea of pillows with healing, and reliving scent beads. Having a nasal infection is bad enough as it is, so how nice would it be to fall asleep on a pillow emitting the scent of Vicks vapor, or mint. I think a pillow that relieves nasal congestion is a good enough product by itself, but I could go farther than that. I could go with the same idea as essential oils, and make a variety of scented pillows for a variety of reasons. A scent pillow with lavender beads for helping someone who has stress problems. Or a scent for a patient in a hospital who might feel a little more chipper with the smell of orange citrus. If the smell starts to fade away all you have to do is put it in the dryer for a little bit and the heat will draw out the scent again.
The Customers would be probably people from ages 14+. I say 14+ because everybody gets sick and would be interested in relief one way or another, teen, adult or senior. Adults and seniors would probably be more interested in the healing or uplifting part of the pillows more so than teens.
Employees, would be vicks hopefully or as a partner, and the factory that makes the scented beads, also the people who make the pillows, and the stuffing.
Competitors would be essential oils, and candles.
Vendors would be, Everything Natural, Walgreens, Rite Aid, and other small stores like Everything Natural.
Research can be done by group survey, giving a couple groups of people different scented pillows and having them tell me what the thought about them, and if they slept better, or woke up feeling different.
Idea Screening:
I Think the scented pillows will work and sell great. The only problems I can think of is people getting headaches from the smell or having allergies. There should be a warning tag that says if you experience headaches while using this product discontinue use. We are not responsible for any allergies associated with the pillows scents. I dont really see that being a big problem though because like a candle that might smell too strong or cause allergies you stop using it.
Business Analysis:
Demand: I believe the demand for this product will be high, because there is a variety of reasons why people would want to buy this item. They could buy it for a gift, for on a flight, if their sick, to make their bed smell good, medical reasons.
Cost: Cost of the product will depend on fabric 8.99 yard, scent beads 1.50 per lb, stuffing 4.19 per oz., thread 1.15 per spool, needles 3.59 for 4, and payment of workers 8.00 per hr. (These are all costs of the items found on the internet as an estimate)
Sales: The selling price will range from pillow size. Small: $20 and Medium (half the size of a normal pillow): $25 Large:( normal pillow size): $35
Profitability: Out of one yard of fabric I might be able to make two medium pillows and still
have left over, so thats -8.99
and use up one bag of -4.19 stuffing,
half of the scent beads -75 cents
not even a quarter of the yarn -5 cents
and pretend i break a needle .89 cents,
plus the hr and 1/2 it took the worker.
That estimate totals to a loss of 27.32 which means each one of the two medium pillows is worth 13.66 each. With the medium pillows being sold at 25.00 I profit $11.34
Since the Large pillows cost the same amount to make as two medium pillows at $27.32 I will sell them at $35.00 which give me $7.68 estimated profit.
Development:
Package: Brown and purple recycled open container.
Brand: Aromasleep
Label: Aromasleep
Promotion: Vendor magazine's, and commercial.
Price: Small $20.00 Medium: $25.00 Large $35.00
Commercialization:
Will be commercialized in the "As seen on t.v" category same type of commercial as the Snuggie stating that you need this, AromaSleep can help you with sleeping problems, sickness, and stress using the same techniques as aroma therapy.
