The name of my product is Refi-back bag and the slogan is “take it with you, everywhere!”Refi-back bag is a small electric fridge that can be carried on the back like a back pack; it serves to keep perishable products such as snacks and drinks fresh when one is out travelling. This product seeks to solve a day to day problem using a simple easy to carry and environmentally friendly manner.
The back pack works by keeping its contents cool and thus making it possible for them to stay fresh when one is travelling.
It is made of Peltier (thermo electric) it is thermo electric that keeps products in the fridge cold; it is insulated to prevent heat losses and uses a small rechargeable battery. These aluminum and poly styrene materials are light and are what makes this product portable. In my target market there are currently no similar products so there is not going to be any competition, however am sure that there will be some in the future and I intend to set my product apart by ensuring it is of high quality and by giving after sales services to my customers.This is portable refrigerator looks like a back pack and can be carried on the back like any other bag.
The key feature is the refrigerator which is in the shape of a car battery.
This is the logo of the Refi-back pack.
The cost of the Refi-back back will be $59.99 this is to cover for the cost of production and also allow a healthy profit margin that will ensure that the product stays in the market and also provide funds for future product development and improvement
The target audience is people who travel and go back packing a lot who are mainly young people between the ages of 18-30.
I will sell the product online, through a company website, since this is where most of my target audience spends their time, after taking the orders and payments online, I will have the product delivered to the client through a courier run.
The back pack will be advertised online mainly through social media like Facebook, twitter and Instagram. This is because almost all of my target audience uses social media and thus I will be able to reach all of them easily also I already have a huge social media network that will enable me to advertise my product easily and also reach a lot of prospective clients at the click of a button.On Instagram I will ask people to upload photos of them using the Refi-back pack and the photo that gets the most likes will win another back pack. On Twitter I will ask people to tweet about what they would carry in their back pack and the tweet with the most re-tweets will win a free back pack. On Facebook I will create a challenge where people will answer questions like how would they improve the design of the back pack say into a more feminine version, through changing colors and using different prints.
This picture shows various angels of the Refi-back pack like the front and the back, it also shows how the back pack looks when it is being carried on the back
Take it with you, everywhere!
REFERENCES
Bain, David. How to Determine the Best Price for Your Product or Service.
http://ezinearticles.com/?How-to-Determine-the-Best-Price-for-Your-Product-or-Service&id=5926884
Newman, Andrew. (2011). Brands Now Direct Their Followers to Social Media.
http://www.nytimes.com/2011/08/04/business/media/promoting-products-using-social-media-advertising.html?_r=0
Brothers, Sloan. (2005). 5 Startup Tips for Beating your Business Competitors
http://www.startupnation.com/articles/5-startup-tips-for-beating-your-business-competitors/
How to make TEC/Peltier:
http://www.techpowerup.com/forums/showthread.php?t=124375
