Remodification of a successful product

januaryjanuary Posts: 3subscriber
edited January 2008 in Selecting a Business
I recently read an article regarding being different from competition and how it`s possible to remodify an existing product or business model that has been successful in another country. I have had an idea regarding a product ( namely storage bags for foods and meat) within my own country. Currently, we do not have such a product within our market and there`s a demand for this product. What we basically do in terms of food or meat storage within my country is to tie up food and meat produce in nylon bags and store in freezers. Most of the time, we end up spearing the nylon with a knife. The drawback is the amount of time wasted when waiting for the nylon to thaw before cooking can begin.  So, my question is "What can I do differently to succed in the marketplace? So, i ask myself " why should conumers choose something different that could cost a bit more than what is presently availablë?
january1/26/2008 4:27 AM

Comments

  • januaryjanuary Posts: 3subscriber
    Hello Craig, thanks for sharing your thoughts. I have really thought about it and I know that this product will save women a lot of time and also the aspect of convenience is important. However, the cost of producing for 2000units is about $10 and there are bigger discounts if I order for 5000units. However, i`m thinking of starting with 2000units as samples which i`ll be giving out to friends, colleagues. I`m also thinking of seeking out retail stores to stock this product. How do I do this?
  • MalteMalte Posts: 4subscriber
    Hi!
    Are you referring to the zip-lock type of plastic bag to store products in? My suggestion would be to plan a good marketing campaign before getting the product. If this is not currently available you could create a demand by `selling` your product as something new, something groundbreaking, and definitely something that would make life easier (maybe even cheaper than the alternative?). I don`t know where in the world you are, but alternative viral marketing campaigns can be very effective, just make sure to apply it to local cultures and trends. Something provocative can be helpful, or something informative.
    Give me some more details, and I`ll see if I can get you some good ideas to start out with. On my blog you can read a short story about viral marketing, just click the link below.
    Good luck,
    Malte
  • januaryjanuary Posts: 3subscriber
    Hello Malte, I`m refering to the ziploc type of plastic bag for meat and food storage. Our economy withi West Africa is an emerging one, while we have shopping malls you can find in North America, Dubai springing up. So, gradually, the average consumer is becoming more critical and sophisticated in terms of food and meat packaging. While we do have the option of pre-packaged meats sold in stores, domestic packaging and storage is still an  issue and this is the gap I intend to fill via the plastic bags.
     
    I`m actually interested in how I can use viral marketing campaign to launch this product successfully in the marketplace before it becomes available. You`re right when you say "maybe even cheaper than the alternative?" Cost of production for plastic bags is actually cheaper here especially with large orders. I have a couple of samples I intend to give to the local manufacturer. I was thinking of starting with 2000 units which will be given out as free samples to friends, colleagues, retail stores to gauge market response to the product. I`d like to know what your thoughts and ideas are regarding my idea. Meanwhile, i`m off to read the short article about viral marketing on your blog. Hope to hear from you soon. Thanks.
  • MalteMalte Posts: 4subscriber
    Well, I must say that I`m not to sure if you are really remodifying an existing product, or simply making a copy of something that exist outside of your own country? Either of the two, the idea is very good, and I hope you can make it happen. Just think about the zipper bag, and if that company might see a new market when you start, and enter full scale afterwards...
    Have you considered contacting the company behind the zipper bags to perhaps start working directly with them as a distributor? Or do you prefer doing your own bags?
    I`ll be happy to help, let me know when you have something to show (business plan or maybe some market studies), and I`ll let you know what I think.
    Kind regards,
    Malte
  • januaryjanuary Posts: 3subscriber
    Hello Malte, I had actually considered the idea of becoming a distributor and I had contacted them on the possibility of doing business within West Africa. After some few months of sending repeated mails, I received a letter from the company stating they were not thinking of setting up shop within the region. So, I have decided to start local production of these bags.
  • MalteMalte Posts: 4subscriber
    Ok, that sounds like the plan then. Why don`t you consider the market, where you can sell, how to distribute, where to produce, in what quantities and so on first? With these studies you could start looking into the profitability of the project, and this might give you a better idea of how big the potential is.
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