Ostroff, Fair and Company
*Ostroff, Fair and Company>>>Other - Advertising & Marketing

Can you please offer some advice on my business idea?


Hi,

Can you please offer any advice on my business idea? Do you forsee any problems please?

I have this idea for a small business. I have done some research, and found that there may be a demand for this product. I want to create a small electronic device, that people can use to experiment with high frequency sound.

I am planning to just sell a small transducer (to create the sound) and a photo copy of a plan for an amplifier (plus circuit diagram) which people could take to any electronics technician, like and electrician and have built.

Once I pay to have the transducer designed, it should be able to be built for under $20us pc in asia. The complete package that I sell (just transducer and photo coppies) should be no larger than a packet of cigarettes, and weigh less than 200g. I should be able to ship it cheaply through the standard mail to just about anywhere in the world. I am hoping to sell this product for under $100us.

I think you need to work on the kinks of it because those are extremely serious and you can have lawsuits hanging over your head. Just keep working on it and make sure to take care of everything.
Who would buy this product? (clearly define your target audience.)

How many potential customers are there for this product? How do you know this number?

What purpose does this product serve? What problem does it solve?

Are there similar, better, cheaper competitive products already in the marketplace?

Why would someone buy the transducer if they still have to have a specialty technician build the amplifier? Where would they find such a technician? How much will he/she cost?

How will you market this product? Will you wholesale it to electronic retailers? Sell it directly to the public? (if selling directly, how will you advertise it? distribute it? warranty and service it?)

Best wishes and good luck.
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