Model – Individual Assignment #1
Problem: do you take notes by hand? Ever got frustrated when you have to throw out once valuable lecture notes when you need to make space in your home? Don’t want to pay storage fees but have hard time parting with you diaries and journals? Want the convenience of digital notes on the go without purchasing anti-glare screen protectors that don’t work and the worry of damaging or loosing your tablet? Wonder when the handwriting will finally go digital?
Description of the product: Paper@ is a digital notepad, which utilizes digital ink technology. With large letter format, document sharing and air printing capabilities, Paper@ is designed for use in the office and classroom. Paper@ is designed to simulate natural writing experience giving it an edge of the 21st century.
Main Benefits:
- Studies show that making notes by hand improves retention of material. With Paper@, there is no longer a dilemma of storing the lecture materials of the course you loved or throwing them away in the effort to declutter your home. Your notes may be backed up to Paper@ secure servers (for a small subscription fee of $4 a month) to be accessed from anywhere in the world or transferred to your own computer or hard drive free of charge.
- Paper@ is not a tablet. It is designed to provide you with a distraction free, intimate writing experience just like the tree-made paper. No more notification pop ups, temptations to “check your email” or get lost into mindlessly scrolling through the social media feed. Studies show that distractions undermine personal productivity and mental wellbeing. Paper@ provides you with a sacred space for your mind, free of ads and intrusions from the outside. Because Paper@ does is not a tablet, it is approved for any classroom!
- Paper@ is password protected, which makes it ideal for storing sensitive information, like journals or personal diaries – no need to store the old journals or carry them with you when you move. Have a peace of mind of always being able to access you entires even 25 years from now and when you are ready to start you first book of memoirs.
- Paper@ has capabilities of e-reader: receive, read and annotate PDF documents.
- Paper@ is universal. It stores your information in a simple format (PDFs), which can be read by any device. No need to export your information from multiple apps.
- Paper@ is lightweight, durable and less prone to theft than a tablet. It is great for active lifestyles – the screen has no glare in the bright sunlight and the battery lasts for months, not days.
Product differentiation:
The closest competition in the market is Sony’s digital paper. Unlike Sony’s product, which marketed mostly to corporate executives at a price point of about $800-$1000, Paper@ serves the wider market: college students, professionals, writers, travelers, designers – everyone who takes notes and enjoys traditional writing experience as much as technology.
In addition to that, Paper@ comes in two varieties – basic Paper@ – black-and-white version and Paper@ Plus, with capability of using 5 additional colors to draw and highlight.
Paper@ will be distributed through retail stationary stores, stationary boutiques, campus pop up shops and Paper@ online store.
Links:
Model – IA2
Industry Research
Children’s and Infants’ Clothing Store
| NAICS Codes: 724481 (Clothing industry) |
Industry Revenue & Growth:
According to the Business & Company Resource Center’s data, the clothing industry has been growing since 1993. The data stated that the year revenue was $128,974 million in 1993 and $144,404 million in 1998 and also with a forecast of $161,476 million in 2004. And according to the research I made on IBIS the size of the Children’s clothing industry is $18.4 billion, a figure that could exceed $23.0 billion, as of 2015.
Industry Growth 2.1% |
Industry Segments:
There are a few segments in the child clothing industry. Some of the major products and services covered in this market are:
- Boys’ clothing
- Girls’ clothing
- Infants’ and toddlers’ clothing
- Other
The Business & Company Resource Center currently provides data from 1997-1999, which shows that the market sector percentage have been the same during these years; Women’s & Girls Clothing sector holds 58.2%, while Men’s & Boys Clothing sector holds 37.3% and Infants Clothing sector holds the remaining 4.5%.
Trends in the Industry:
Though our economy faced a down fall, the size of sales decreased. Instead of shopping people from different ages were trying to save money instead of spending. Due to laid-off workers, the revenue and income flow of clothing stores has been impacted. Now that the economy is looking better, people are shopping more and are able to get jobs. In fashion the trends are hard to keep up with if you do not have an innovative edge. To stay on top you must follow the latest trends so that you can meet the demand of your consumers. It is wise to start the trend then to follow. Although children’s apparel is a basic family requirement, the fashion revolution is affecting even these styles. Mothers (controlling 93% of all apparel dollars spent on children’s wear) want their children to have the latest “look.” Children’s wear manufacturers are becoming highly skilled at producing high fashion apparel. Kid’s fashions have been one of the fastest growing category of apparel. To keep pace with this trend, manufacturers have adopted the production and sales techniques used in women’s apparel. This has led to enormous numbers of children’s wear departments and specialty stores throughout the nation.
The children’s wear industry has grown considerably in recent years, but still remains a small market segment and can be difficult for small manufacturers to enter. Since children’s wear trends increasingly mirror those of adult apparel, children’s collections must not only please children, but also be very similar to current trends in the adult market. This calls for constant monitoring of the market and a high degree of flexibility and quick adaptation. Major firms that market adult collections at the same time as children’s copies have a head start in this regard. Price, nonetheless, remains a decisive factor in making purchases, given the speed at which children outgrow their clothes. Manufacturers who are competitive in this regard and have the flexibility to adapt their products to fashion trends can find worthwhile niches.
Competition:
Some competitors would have to be well known established companies such as Gymboree, Babies R Us, The Children’s Place, Carters and so much more.
I believe my company will work out better because a lot of these companies get their clothing from other countries and my company will be home based meaning MADE IN THE USA, this will help the economy because it will bring in more jobs. As everyone knows entrepreneurs are the back bone of the U.S. because we are the ones who bring in more/new jobs.
Recommendations:
- Focus on high fashion apparel for children.
- Offer adult (Mom’s and Dad’s) clothes that match with children’s clothes.
- Offer accessories and other products that go with the clothes and will be useful for this niche segment.
References
Claire O’Conner (May 2018). Family Clothing Store in the US. IBIS World
Cathy Horyn. (Nov 17, 2010). Google Debuts Fashion Site. (retrieved from http://www.nytimes.com/2010/11/18/fashion/18googlefashion.html?src=me&ref=general&pagewanted=1 on March 4, 2018)
Model – IA3
Business Model Canvas
Product: “On-the-Spot” Mobile App
Objective: On-the-Spot is a mobile news app that focuses on reporting archival news stories from third party sources, working with geo-location and map services to report historical “newsworthy” events that happened at your current location.
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