Innovative Product

Introduction Nowadays, innovative is an essential advantage in this dog-eat-dog food securities industry for e rattling organization. Innovative dope be e reallything that is advanced and non exist in current market, so far in order to put through the gap in this demanding market, organizations mustiness be very innovative to dress verboten with new harvests and services. brasss nowadays argon recruiting employees who argon creative and innovative because they atomic number 18 person who corroborate sensitive antenna to sense and sight what the quite a little exigency and need.In current market, thermos bottle pee p atomic number 18ntage is very common for people to store their drinks because thermos piddle bottle eachows people to stop their drinks c hoar or warm for a very picayune terminus of time. Therefore, there would be a gap exists where the people want to drink frigidness or zesty beverage at anytime and anywhere they want. To fulfill this ga p, DualBottle has came pop as it is a thermos piss bottle which has the function of arouseing and remedyzing the beverage in emplacement the thermos peeing bottle at anytime the customer wants.In other words, DualBottle leave behind act give care a refrigerator to cpitchers mound the weewee as cold as it can or fire uping up the water scarce wish a water moiler. In the current market, there is no quasi(prenominal) harvest-tide that has the function alike DualBottle and this innovative product provide lift in another(prenominal) level of contraption to the consumers in the market. Hence, people whitethorn want this new product to be in the market. In item, water bottle in the current market is merely used for storing water and roundtimes not even suitable to store heatable water as some water bottles have no qualified credential because it is made of lower spirit of plastic.In addition, DualBottle enables people to get hot or cold water easily in their daily activities. In this assignment, we are going to discuss in-depth on market research of DualBottle and as well new product descriptions and specifications. Market Research Direct enemys There are several(prenominal) acquire competitors for DualBottle which they have the comparable types of product in the same market such(prenominal) as heaters, changeers and normal water bottles. In this case, keeping on track on consequential technological innovations is very important for a particular telephoner to importanttain a competitive advantage in the market. commencemently, the innovative product depart have certain competition and comparatives with those live and well-known brand like Thermos, Zebra, Camelback, Klean Kanteen, SIGG, Cheeki, Eco vessel and many more(prenominal). These brands are the acquire competitors for the DualBottle because these brands produce quality stainless steel and aluminium water bottles exchangeable to the DualBottle but of course every brand has its specialty of their own products such as the visualizes, assorted showy colors, functions, specifications, coming(prenominal) and its outlook.These brands are the main show competitors for DualBottle because both these products from these brands have the similar functions of heat preservation and have these brands are historical as compared with the new product. Though our new innovative product, DualBottle can reheat and re-chill the drinks however, the existing of the products can only help to maintain the heat and the warmness of the drinks. In fact, people may be more in totally probability to choose old brand due to brand loyalty and influenced by the power of word of mouth.The brand new product might be very novel yet it is still under the observation period to attract and being recognized by the people. On the other hand, old products are more creditable and always have good comments from whizz consumer to another consumer. Indirect competitors Beside those direct competitors, there are a fall of corroboratory competitors for the DualBottle. Indirect competitors are the competitors that compete with the DualBottle mediately. For example refrigerators that can cool the water, this is an indirect competitor because households have refrigerators at home.So it is considered as an indirect competitor. On the other hand, the kettle and hot water flask are alike indirect competitors to the DualBottle because at home people use kettle to boil water and hot water flask because the flask is to keep the hot water to remain hot. Other than that, Mineral waters that are change in sundry shops, supermarkets, convenient shops, and other places are considered as indirect competitors because they have cold beverages and warm beverages separately. Instead of purchasing DualBottle, customers might just purchase mineral waters for daily usage.Besides that, water dispensers are the main indirect competitors because the DualBottle mostly driveed customers ar e people who work in office, give way daily and also students. Water dispensers are available in all colleges and offices. Hence, quite a bringing the water bottles a extensive with them, customers may prefer utilise the water dispenser for cold and warm drinks. So it is considered a main competitor to the DualBottle that competes in the market. Furthermore, companies such as Starbucks also are served as the indirect competitor for the new product.Although Starbucks specialized on producing good and tasty coffee, the company itself has launched their own tumbler which also has the similar function with this new product as tumbler can be used to fill up the hot beverages. Besides that, Starbucks also has a promotion for its own customers by employ the tumbler when they purchase hot beverage. They can get the RM2 bank discount by using the tumbler. Hence, most of the customers who loyal and fascinating in Starbucks will tend to purchase the tumbler to get better offer. This phen omenon also will be one of the step to the fores for the launching of new product.Next, in terms of the future competition for the DualBottle where in this new era technology is growing in a fast pace, all the products that selling in the market already be advanced. In the past years, these products are not in existence. However, in todays fast development society, these products cannot be left out and more innovative and modern products are being launched. Most of the unfledged adults have strong interest in trying new products. When this bunk happened, all of the past products might be left out.Thus, to consolidate the secondary of new product in the competitive market, branding should be interpreted into consideration. Future competitors not only on the products themselves, but also include the consumer behaviour in todays society. There will be always new competitors that will enter the market because of the advance of the technology. orient customers The innovative product , water bottle thermos is spirited to satisfy all the needs of the individual and company. Furthermore, targeted customers are normal people who travel a lot they can keep warm or cold water together with them while travelling in the car or bus.For instance, long distance travellers can keep hot coffee in the DualBottle so they can drink it while travelling to keep them fresh. Besides that, we are also targeting DualBottle on running(a) adults and students who commonly face with busy and buckram schedule where they may be even unable to have their decent meals. For example, an event executive, Amanda is too busy with her task and could not even control time to have her meals and so, with this DualBottle, she is now able to enjoy her favourite drinks each in hot or cold at anytime and anywhere even when she is busy.With our unique selling point of DualBottle, that is the ability to reheat and re- arrest the drinks quickly by using the steel casing in which making DualBottle ap peared to be so practical it may also attract many companies to purchase our product as it can provide a steep level of toilet facility to their employees. Therefore, we may be indulging ourselves in both B2B and B2C market in order to gain higher market share respectively and establishing a strong position in the market. We strongly believe that targeting the right consumers will achieve a desirable benefit to our innovative product, DualBottle.New Product First of all, stainless steel water bottle maybe very common in this current market such as Thermos, Klean Kanteen, Thinksport, and Eco Vessel. In fact that, there are just normal insulated water bottles which can keep drinks cold or hot for a short period however DualBottle is coming up with an innovative idea where the water bottle is chargeable in order to heat up the drinks or make the drinks chilled. Although it appears to be nothing different from ordinary bottle, DualBottle has a magic function that cannot be engraft in the current market.The uniqueness that able to chill soft drinks or to retain temperature of warm Chinese tea with a tiny batch and play kind of component tie to make DualBottle more standout. as well as to some other portable coolers, it uses thermoelectric cooling system theory to switch between twain modes (cold and hot) with just a button. In gentle wind with technology advancement, DualBottle is designed with an external component that can be attached from the bottom of the bottle and it is contacted with a coat plate to serve as conductor in order to send cold and heat.Meanwhile, instead of run in 12 or 24 volts direct current (DC) which is similar to mini fridge, we would replace the battery storage with a 2800 milli-Ampere-hour (mAh) rechargeable battery. For instance, two hours are required to get the battery fully charged and it could be used for ten consecutive hours. Besides, there would be two different ways to charge the battery component by using direct curr ent (DC) and alter current (AC). It would be more convenient as users do not need to plug-on direct current or alternating current in order to use of the function because there would be power reserved in battery component.Additionally, DualBottle will have an self-regulating power switch off when the water temperature is heated up to 70C and the water temperature is chilled down to 3C to 5C. On the other hand, DualBottle can be presented more innovative by introducing another range of models that uses solar energy as an optional charging method and so the battery can be charged automatically whenever solar heat is stored. Moreover, when users do not feel like using the function, they could always finish up the external component to function it as ordinary bottles like Bros, Sigg and Zebra.In addition, DualBottle is chargeable by using USB port charger and car power arranger as well, this idea enables users to charge DualBottle whenever they want. In fact, DualBottle can act more than a common water bottle where it can perform as a water warmer to keep the beverage warm for 4-6 hours because of the double-wall separation designed then it also can act as a water heater to heat up the beverage up to 70C, lastly it perform as a water cooler to hill the beverage down to 3C. Forget about the traditional design of Thermos bottle in which it looked heavy with stainless steel coin colour DualBottle would design the products with relatively new colours and standout themes. DualBottle would look more colorful and attractive by adding some printings on it, the designs can be plain but sharp colors and candy colours, animal prints for fancy female group, and users can even print their pictures or words on DualBottle.To target different types of customers, DualBottle would allow customers to choose their favourite colour and design or to custom-made their bottle by choosing what design, features, function, colour, and engrave their name on the bottle. Besides, it woul d be designed for easy to carry by attaching a soap and also slim fit exterior outlook of the bottle. Meanwhile, the polish off summit of DualBottle would be anti-leaking water designed which are made by guard and plastic. It would be easier to design the bottle with open-close cover, instead of using coat appreciation cap cover.However, there are also pros and cons to adopt the design of open-close cover. For instance, rubber grip cap cover can have better barroom of losing the water temperature in the bottle as compared with the open-close cover. As people are more health conscious nowadays, DualBottle uses stainless steel, aluminium and bisphenol A (BPA) free as inner bottle materials in production line hence it would not be harmful to the users. Since a metal plate would acts as an electrical conductor to heat up or chill cold the drinks stainless steel, aluminium and BPA free plastic materials are not an issue to end-users.In general, DualBottle has three different kind s of bottles but they perform the same function for users. This is because to target different group of customers as stainless steel material is usually expensive, aluminium material is on the average price, and plastic material would be cheaper. Nevertheless, high quality of stainless steel materials are usually regard heavier as compared to aluminium and plastic materials so materials made of DualBottle might be affect the weight of product but however, DualBottle has only two order bottle volume which are 500ml and 750ml.To be a part of add towards environmental friendly program, we would to use recycle materials if possible. The quality of the product must be proven through some international recognized authorities like FDA (US Food & Drug Administration), LFGB (Europe Food Contact Material Standard), ISO (International Organization for Standardization), and SIRIM (Standard and Industrial Research Institute of Malaysia).Besides, DualBottle would only use high quality of elec tric thermos which it is also often used by Thermos, Klean Kanteen, and La Gourmet this is to ensure that DualBottle can produce high quality products instead of using cheap materials. With the fact that the production cost might not be cheap and therefore it is expected that DualBottle is placed in high quality and high price position. Conclusion In the current market, thermos water bottle is frequently used by the people to store their drinks and keeping their drinks cold or warm for only a very short period of time.Our group has established the gap within the market where people may want to enjoy cold or hot drinks at the anytime and anywhere in their daily life. Thus, we have come out with an innovative product called DualBottle. In developing DualBottle, it is apparent that we will be facing those direct competitors like Thermos, Klean Kanteen, Sigg, and Zebra which have dominated the market for quite a long time in producing thermos water bottle. However, these products only c onsists the function of preserving heat and not heating or freezing like what DualBottle can do.On the other hand, we also will be facing some of the indirect competitors in the market like water dispenser companies, mineral water companies, some electrical companies that produces kettle and water boiler and even Starbucks as they had launched their own brand tumbler to increase loyalty of their customers. The DualBottle is targeted at travellers, students and working adults who may be very eventful and does not even have the time to sit down and enjoy their drinks. Thus, the ability of DualBottle to heat and freeze drinks enable these people to have a moment of pleasure on their favourite drinks either in hot or cold.The practical side of DualBottle may attract companies to buy in bulk from us in order to supply to their employees as it is very convenient to their daily activities. DualBottle introduces a function where it can be heated up the beverage or chilled the beverage in wa ter bottle by only clicking a button. This function can be done by attaching a metal plate which acts as conductor on the bottom of the inner bottle and then an external component to act as battery to transmit energy.In additional, the external battery is actually an external component which can be attached or removed from the bottle. It is easy to charge by using adapter, USB port, car power adapter, and also solar energy. Moreover, Dualbottle design the bottle by using 3 different kinds of materials which include stainless steel, aluminium, and plastic. There are all having the same performance and with 2 standardized capacity volume of bottle which are 500ml and 750ml.DualBottle may obtain international certificates by administration organizations to prove that the bottles are safe to use and has no harms to health. Besides, it would be having attractive outlook as the designs are standout and DualBottle enables customers to custom-made their bottle as well. The cover cap of bot tle may be open-close cover design because of convenience and anti-leaking purpose. In conclusion, DualBottle is a high quality dual-function bottle and hence, it would be also selling at higher price. Reference list Alicia,2009.Top 5 innocuous Steel Water Bottles. online Available at Accessed on 2nd April 2012 reveal Bottle Stainless, 2012. online Available at Accessed on 3rd April 2012 Hydro Flask, 2012. online Available at Accessed on 3rd April 2012 Klean Kanteen, 2012. online Available at Accessed on fourth April 2012 tell on Naturally, 2012. online Available at Accessed on 4th April 2012 SIGG Design Bottles, 2012. online Available at Accessed on 3rd April 2012 Zazzle water bottles, 2012. online Available at Accessed on 4th april 2012