INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template...
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Transcript of INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template...
![Page 1: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/1.jpg)
![Page 2: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/2.jpg)
INSTRUCTIONSINSTRUCTIONS
• Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com
![Page 3: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/3.jpg)
BASIC INFORMATION:INSTRUCTIONSBASIC INFORMATION:INSTRUCTIONS
• Use this slide to formally introduce your school, team members and your category of choice.
![Page 4: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/4.jpg)
SCHOOL NAME
TEAM MEMBERS
CATEGORY
BASIC INFORMATION
![Page 5: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/5.jpg)
NAMING YOUR PRODUCT/SERVICE: INSTRUCTIONS
NAMING YOUR PRODUCT/SERVICE: INSTRUCTIONS
• Naming your product or service is very important so think of a name that describes what the product does and also creates a lasting impression in the mind of anyone who hears it.
e.g. The “Collapsi-Heel”- The name adequately describes what the product does and at the same time creates a fresh, funky name that people can identify with. You will notice that by shortening “Collapsible” into “Collapsi” and combining it with “Heels” we have created a catchy funky new word.
![Page 6: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/6.jpg)
NAMING YOUR PRODUCT/ SERVICE: EXAMPLE
NAMING YOUR PRODUCT/ SERVICE: EXAMPLE
• “The Collapsi-Heel: Convenience with a Click”
![Page 7: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/7.jpg)
PRODUCT NAME
TAGLINE
NAME
PRODUCT NAME AND TAGLINE
![Page 8: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/8.jpg)
ABSTRACT: INSTRUCTIONSABSTRACT: INSTRUCTIONS• WRITE A DESCRIPTION OF YOUR PRODUCT THAT
MUST ANSWER THE FOLLOWING QUESTIONS: 1) What is its primary function and what need or
problem does it solve?2) How is it innovative?3) How is it different from other existing product? ( if
any )4) What are the key features?5) How will it change the life of its users
![Page 9: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/9.jpg)
What is its primary function and what need or problem does it solve?
How is it innovative?
How is it different from other existing product?
What are the key features/How does it work?
How will it change the life of its users?
It solves the problem of women having to carry more than one pair of shoes to avoid discomfort.
It is innovative in that it allows the user to have two different functions in one product. Women being able to switch to flat shoes to walk up stairs and then back to high-heels to be fashionable
The “Collapsi-Heel” is completely different from existing products as there is no other shoe that provides such convenience with such ease.
The key features are the converter switch which allows the transformation to take place with the simple flick of a switch.
The “Collapsi-Heel” will finally allow women to have comfortable footwear in a any situation
ABSTRACT: EXAMPLEABSTRACT: EXAMPLE
![Page 10: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/10.jpg)
What is its primary function and what need or problem does it solve?
How is it innovative?
How is it different from other existing product?
What are the key features/How does it work?
How will it change the life of its users?
ABSTRACT
![Page 11: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/11.jpg)
ABSTRACT: EXAMPLEABSTRACT: EXAMPLE
• The “Collapsi-Heel” is a ladies’ shoe that can transform from a high-heeled dress shoe into a more comfortable flat shoe. It solves the problem of women having to carry more than one pair of shoes to face different situations.
It can be the fashionable high heeled shoe at the start of the party and then transforms into a comfortable option when its time to hit the dance floor. At the end of a day full of meetings, the professional woman can
flick the switch and have a comfy flat shoe to walk home in. No woman will ever have to worry about carrying two pairs of shoes anymore as the Collapsi-Heel is the perfect solution!
![Page 12: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/12.jpg)
• WRITE YOUR ABSTRACT HERE
ABSTRACT
![Page 13: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/13.jpg)
OPPORTUNITYOPPORTUNITY• An opportunity is a consumer need or want that can be
potentially met by a new business ( NFTE Entrepreneurship 11th Edition)
Not every idea is an opportunity. Here are 5 categories that will help you to recognize an opportunity.– Problems; A problem that needs to be solved by a service or
product– Changes; A change in trends, laws, customs, etc…; produces a
new need/want– New Discoveries; Creation of a totally new product or service– Existing Products or Services; Means that improve existing
products/services– Unique Knowledge; One-of-a-kind experiences or uncommon
knowledge
![Page 14: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/14.jpg)
OPPORTUNITY: EXAMPLEOPPORTUNITY: EXAMPLE
• Sources of OpportunitiesProblems Changes New
DiscoveriesImproving existing Products and services
Unique Knowledge
Discomfort of high-heeled shoes in certain situationsIdea: Collapsible High heeled shoes
Modern day families having less time to make breakfastIdea: Instant porridge
Not having enough outlets to charge appliancesIdea: Charging mat (just lay devices on the mat and they charge)
People simply pressing the snooze button on alarm clocks and going back to sleepIdea: Clocky- the runaway alarm clock
Students at your school complaining about a lack of space for booksIdea: Lockers that rotate so there are more compartments
![Page 15: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/15.jpg)
OPPORTUNITY
Problems Changes New Discoveries
Improving existing Products and services
Unique Knowledge
Use the table below to categorize your idea and explain the opportunity .
![Page 16: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/16.jpg)
TARGET MARKET: INSTRUCTIONSTARGET MARKET: INSTRUCTIONS
• Target market: Your target market is the group of consumers to whom your marketing efforts are directed. These are the set of people who you think will be the most likely to use your product or service
![Page 17: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/17.jpg)
TARGET MARKET
•Women between the ages of 15-55•Professional women•Young women who party
TARGET MARKET: EXAMPLETARGET MARKET: EXAMPLE
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TARGET MARKET
TARGET MARKET
![Page 19: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/19.jpg)
CUSTOMER PROFILE: INSTRUCTIONS CUSTOMER PROFILE: INSTRUCTIONS
Once you have a great product/service it is now important to identify who your customer will be.
• Location – Where are your customers?• Population – This is an estimate of how many
people make up your customer base.• Personality – What is the general personality of
you customer? • Income- What is the average income of your
customer ?
![Page 20: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/20.jpg)
CUSTOMER PROFILE: EXAMPLE CUSTOMER PROFILE: EXAMPLE
LOCATION POPULATION PERSONALITY INCOME
Even though we are appealing to Jamaican women, Collapsi-Heel solves a problem that is found across the world. Using the internet we will be able to market to the women of the world
According to STATIN, there are over 300,000 employed women who fall within our desired age range
Collapsi-Heel will appeal to the woman who wants to be fashionable but also wants to be practical at the same time
Collapsi-Heel with appeal to the women with some amount of disposable income but are also looking for a bargain
![Page 21: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/21.jpg)
LOCATION POPULATION PERSONALITY INCOME
CUSTOMER PROFILE
![Page 22: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/22.jpg)
VALUE: INSTRUCTIONSVALUE: INSTRUCTIONS
• Value: These are the features of a product/service that attract a consumer to start and continue to use it.
• Competition: Two businesses operating in the same market, selling similar products.
![Page 23: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/23.jpg)
What value will the product or service add to the life of the consumer?
Is there competition? If yes , what makes your product unique
The “Collapsi-Heel” adds great value to the consumer in the form of the convenience and comfort that a “two-in-one” shoe provide
There are no direct competitors but there are brands that produce disposable shoes geared towards providing convenience. Our product however removes the need for two pairs of shoes and it is this convenience that is our competitive advantage .
VALUE: EXAMPLEVALUE: EXAMPLE
![Page 24: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/24.jpg)
What value will the product or service add to the life of the consumer?
Is there competition? If yes , what makes your product unique
VALUE
![Page 25: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/25.jpg)
SKETCHES: INSTRUCTIONSSKETCHES: INSTRUCTIONS
• Make a sketch of the product or a diagram to show how the service works.
![Page 26: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/26.jpg)
SKETCHES: EXAMPLESKETCHES: EXAMPLE
![Page 27: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/27.jpg)
• INSERT SKETCH HERE
SKETCHES
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• Feel free to add any additional information that you feel will better explain your idea, how it works etc.
ADDITIONAL NOTES
![Page 29: INSTRUCTIONS Use this template as your guide for submitting your idea and use the attached template to make your presentation and submit it to i3.jamaicabusinesslab.com.](https://reader035.fdocuments.in/reader035/viewer/2022070306/551803d3550346a2228b4d50/html5/thumbnails/29.jpg)
• TO SUBMIT YOUR IDEA, ATTACH THIS SUBMISSION TEMPLATE IN YOUR EMAIL AND SEND TO [email protected]
• IF YOU NEED ANY FURTHER INFORMATION OR HAVE ANY QUESTIONS, CALL US AT 908-4080
• OR 458-8532
YOU’RE DONE!!!