New Venture Idea: LED Pocket Lamp Lightbeam

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NEW VENTURE IDEA

The Product
At home or on the road, for sports and leisure activities, or as a functional tool for everyday life. With its modern design and well thought-out-details, the versatile, handy LED pocket lamp LightBeam is a perfect fit with our modern times. The LightBeam is not only a simple pocket lamp, thanks to the special strap fixing system there are various application possibilities. For instance mounted on a bike the lamp provides you with bright vision on your journey or fix it on your kids school satchel for their safety. It also perfectly functions as a outdoor and camping lamp. Wherever light is needed, the LightBeam is the solution!

Product benefits:
high-quality
modern design
compact size (perfect for keyrings)
multifunctional use
easy mounting
bright illumination
long battery life (up to 100 hours)
water and shock resistant

Market Analysis
Our main customer group are young, energetic people between 12 and 25, who follow the newest fashion movements. The important buying motives are to use the product as a lifestyle or sport accessory and to imitate their friends. Another strong customer group are casual buyers, who see a good value in the multifunctional use for a fair price, like middle age parents.

Competitor and Industry Analysis
The direct competetion is formed by noname Asian LED lamp manufacturers, who offer a wide range of low budget lamps. These lights in the compact category are mostly keyring-lamps or flashlights. They are characterized by a short life cycle (because of the lack of marketing), low quality and the do not offer a universal fixing system.

The indirect competetion is formed by established brands offering lamp products. Their product range is very broad, but there are no equivalent lamps in the compact category.

Both direct and indirect competitors could copy the idea of a multifunctional, compact design lamp. Therefore it is vital to win over a big part of...
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