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
BASIC INFORMATION:INSTRUCTIONS • Use this slide to formally introduce your school, team members and your category of choice.
BASIC INFORMATION SCHOOL NAME TEAM MEMBERS CATEGORY
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.
NAMING YOUR PRODUCT/ SERVICE: EXAMPLE • “The Collapsi-Heel: Convenience with a Click”
PRODUCT NAME AND TAGLINE PRODUCT NAME NAME TAGLINE
ABSTRACT: INSTRUCTIONS • WRITE A DESCRIPTION OF YOUR PRODUCT THAT MUST ANSWER THE FOLLOWING QUESTIONS: • 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? ( if any ) • What are the key features? • How will it change the life of its users
ABSTRACT: 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!
ABSTRACT • WRITE YOUR ABSTRACT HERE
OPPORTUNITY • 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
OPPORTUNITY: EXAMPLE • Sources of Opportunities
OPPORTUNITY Use the table below to categorize your idea and explain the opportunity .
TARGET 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
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 ?
VALUE: 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.
SKETCHES: INSTRUCTIONS • Make a sketch of the product or a diagram to show how the service works.
SKETCHES • INSERT SKETCH HERE
ADDITIONAL NOTES • Feel free to add any additional information that you feel will better explain your idea, how it works etc.
YOU’RE DONE!!! • TO SUBMIT YOUR IDEA, ATTACH THIS SUBMISSION TEMPLATE IN YOUR EMAIL AND SEND TO email@example.com • IF YOU NEED ANY FURTHER INFORMATION OR HAVE ANY QUESTIONS, CALL US AT 908-4080 • OR 458-8532