Problem:
What is more annoying then one of your favorit pairs of socks getting stretched out and you can no longer wear them. You always end of buying atleast ten pairs of socks every year, and when its soccer season it seems like that number is so much more. How many times have you just said "why wont my socks stay the same size"?
Idea Generation:
I thought of this invention because I am sick and tired of my socks constantly out growing my feet. I hate having to constantly try on socks in my dresser to see if they fit properly and of course there are very few that do.
Idea screening:
I have reserched this product and have not found one spacific product that is for socks. With all the new inventions coming out this was only waiting to be found.
Business Analysis:
What is likely the demand for the product:
The demand for this product has a limited target group because people might not mind their socks stretching out, or becoming misfitting. For those of you who do hate it there will be much demand.
Would current customers benefit from the product:
How can customers not benefit from this product? This product can only help you in becoming less stressed, and having to but multiple pairs of socks.
What new facilities if any would be needed:
All that we need is a warehouse in which both our manufacturing and storage would take place.
What is the risk of failure? Is the company willing to take the risk:
As with any new product the risk will be high, but we are more then willing to take the risk because we believe in our product.
Development:
Developing this product is going to take some time but not as much time as some may think. Since a lot of our idea comes from a steamer it will be quite simple to produce. The one thing that could take us a while is that we want it to be small and easy to use.
Test Marketing:
I would market this is shoe stores, athletic stores, and any sports magazines. Most of the people in these stores would be the ones looking for this product.
How might competitors respond:
I dont feel that there are many competitors for this product because it is a one of a kind item.
