pinion pins presentation

15
The Revolutionary Magnetic Pinning System

Upload: raffi-garnighian

Post on 30-Jun-2015

47 views

Category:

Business


0 download

DESCRIPTION

Pinion Pins

TRANSCRIPT

  • 1. The Revolutionary Magnetic Pinning System

2. Strength. Beauty. Security. Inspiration. Imagine a product that embodies all these values, with the versatility and usability of products like Velcro. Introducing: Pinion Pins 3. What is a Pinion Pin? They: are a multi-use, industrial strength product. bind various fabrics or flexible materials together for storage, solutions, and security. Uses: Duvet covers/bedding Furniture covers Curtains/draperies Car/boat/tent covers Crafting and home solutions/DIY 4. Various Uses 5. How are they made? Each Pinion box: is produced by our overseas manufacturer (Highlight Manufacturing Corp) with quality control. is given packaging created by our Northfield, MN supplier. is hand inspected, then packaged by our own staff. Each step adds value to our process. Pinion Pins! Final assembly by hand 3 levels of quality control Manufacturers with decades of experience 6. Technology Pinion Pins: utilize the same technology that similar magnetic devices (security tags) use to create a protective hold while not damaging the fabric. are designed at specialized Tesla level, the magnet is able to open the pin (normal magnets cannot), while at the same time, it cannot be used to open store security tags. are an industry leader, being the sole product utilizing this technology for applications in home and garden, and outdoors 7. Pricing The product is priced as so: 2 configurations for sets: Starter (19.99, 6 pins and one remover) and Family (59.99, 40 pins and 2 removers). Additional pins sold at 4.99/6 and removers are sold for 14.99/ea. Wholesale pricing is 12.99 for Starter, 41.99 for Family, 2.99 for Pins, 8.99 for Remover. 8. Competitors Similaritems to "Pinion" DuvetDonuts SheetGrippers Hold On! SheetClips DuvetGrips Companies thatsell these items Walmart, Amazon BBBY BBBY, Walmart BBBY Price $12.95/4 $3.99/4 $5.99/4 $6 There are 4 active competitors to Pinion Pins: Our product is priced at a slight premium above competitors However, additional pins (without remover) are priced lower than competitors. Competitors fall short in either strength/safety, or applications/number of uses. In all cases, Pinion Pins provide both aspects better than their competitors. 9. Competitive Advantage Duvet Donuts have been proven in testing, and through customer review (average 2.5/5), to not hold if slight force is applied to the cover or bed. In addition, the product requires the folding or compressing of the sheet, which could cause permanent wrinkling, folding, or damage over time. Duvet Grips is a product that holds a Duvet cover with adhesive, rather than a physical hold. In addition to having poor reviews from consumers, the product has great potential to damage whatever surface it is applied to over time, and in all cases will leave some unwanted residue. 10. Competitive Advantage 2 Sheet Grippers can be used to secure a thin sheet to the bed, but they cannot be used for a duvet or any thicker fabric (the grips have a specific thickness that they can hold). This product does not operate in the same market or set of uses as Pinion, but could cause confusion if customers were unable to properly understand Pinions primary purpose (Duvet, not sheet). Hold On! is identical to the previous, but with a different brand name. 11. The Who: Our Team Raffi Garnighian, CEO: Duke University 2015, Economics Holds the patent for the product Operates management of Marketing and Financial teams Sachin Gupta, CMO: Duke University 2014, Masters MEM Manages marketing team of sales reps Seeks out new businesses to carry our product, with a focus on local and upcoming businesses Tawnja Peterson, Marketing and PR Successful talk show host (Tawnja Show) Provides animations and commercial videos Promotes product through social media, live appearances, and travels to events Multiple backgrounds, one team Finance/Economics Engineering/Science Marketing/Sales 12. Product Growth Each step has been successful for Pinion, with 2 months of marketing granting around 2000 sales, and in-store acquisitions. Initial sales to friends/fa mily Local sales through televised advertiseme nt Sales and brand awareness built through social media and travel Success in small to medium sized stores Product availability in large stores 13. Traction Around 2000 sales in 2 months: ~20% online sales, ~10% through television, rest through stores, and through in person sales via ambassadors (currently 10). Available in three stores: Duke Stores, Morgan Imports, Bare Wood Outlets. 5 additional stores in discussion during the next week. Over 900 users on Facebook page, more than half of them interacting with each post. 14. Why is Pinion right for you? Low risk for implementation in retail stores (congestion and satiation risk): Small shelf space, inexpensive pricing, suitable for many areas of store including front-end and register. Typically see return buyers (about half), product becomes more valuable to consumer as they continue to use it. Low risk for online and television (communication and connection risks): Product description is clear and informative, and addresses more than one market niche while still avoiding confusion. Popular within blogging communities, Facebook, and Pinterest, which would generate a unique consumer following for the website/location 15. Formula for Success Desire to break barriers and reimagine home solutions Experienced team of leaders and creators Innovative, competitive, well-designed product Pinion is poised to be a leader in its industry, with a combination of product, team, and mission statement that will propel it towards mass adoption and customer satisfaction.