MANAGING CREATIVITY AND INNOVATION: FORGADGET

Student: Adnan Hadziibrahimovic Professor: Huseyin Hayri Nuroglu

DEVELOPING A PRODUCT..
Problem: In the society that I live in it is very important to either have your mobile phone or your keys. Mobile phone: serves as a contact device Locks & Keys: Help to secure your home, garage,workplace or anything that needs securing. People tend to forget one or the other

RESOLUTION

Development of a product which helps alert the customer about these two items and the product is: Reliable Great Quality Modern Helpful

PRODUCT NAME

The Product name that I decided to give for my product is Forgadget

Easy to remember

Easy to Market

RESEARCH & DESIGN

Joint venture with the company of: Electronic Design and Research which their holding company is VS Holding

This company produces different devices such as: Solid State Relays, Switches, Drivers Full-Bridge Drivers Electronic Load DC/DC converters Power Line Adaptive Filter

RESEARCH & DESIGN

The Company Name: Abihgital

Production: Sarajevo Bosnia and Herzegovina Research & Testing: Louisville Kentucky

SWOT ANALAYSIS

Strengths: The market does not have a product which is like this, it is unique it is very small it is excellent for every day to day use. The production of the device is not expensive
Weaknesses: The health risk, what are the effects of the cell phone and the key chain being together does it cause harm to the body. This of course is over a long period testing?

SWOT ANALAYSIS

Opportunities: The ability to enter a market which is not developed when it comes to electronical devices.
Threats: The threats that we have discovered is that there are many mobile phone companies which are very strong. They have many resources and far more complex state of researching and development

PRODUCTION

Assembly Machines: Shenzhen PGD Digital Technology Co. Ltd.

Price: 56.000$-65.000$
6 workers-8 hour shifts

PATENT REGISTRATION

The application process will charge us a fee of 100 KM and testing Confirming the patent results is 1.200 KM and for the next forty years of having that patent we will have to invest 400 KM.

MARKET RISK

We as a company have taken into consideration also the level of risk that is involved:

This means that we will have testing areas in public places regarding our product to see what kind of quantities we will be producing using: Surveys Questionaires Tests

PRICE

The average price of this product is going to be 7 KM

Warranty of five years

COSTS

Variable Cost 5.00 KM Fixed Cost 10000 units Expected Sales 1,500,000 units Price 7.00 KM/unit Total Revenue 10,500,000.00 KM Total Variable Costs 7,500,000.00 KM Profit 2,990,000.00 KM

DISTRIBUTION CANALS

Intensive canal: It is fixed on the whole population and where the majority of the goods are. My focus is having the product distributed to all the mobile phone stores, companies, services.

Transport: 4 vans

Thank

you for your attention!!