7A Testing the Hypothesis, Part 1


The opportunity that I am going to pursue is the combined three-hole puncher and hole protectors.

There is not a product that allows people to three-hole punch papers and will protect the paper from ripping because of this a product is needed to combine both steps to not only save money but also time.

There is an abundance of people who have a need for this product. There is no real boundary for this product because nobody else has created something of this nature and many people are unaware of the need for this product. I believe that anyone will have a need for this product because almost every time someone puts papers into a binder ring one of them is bound to break. Also, this can be used at an industrial level and residential level.

Interview 1
-       He said it could be a used product because it combines two steps and would be a lot easier
-       A lot of students have a need for this, as well as office spaces, lawyers, etc.
-       Technology could hinder this product in the future if eventually we all go completely paperless, however, he does not think that could happen anytime soon
Interview 2
-       He said yes, because everyone needs their 3-hole punched holes to be reinforced
-       Target market is people in school and also offices
-       He believes that this product will encourage people to go back to using more paper
Interview 3
-       When he was putting together his binder back in middle school, he wished he had a product like this that would have made the process a lot more simply
-       He thinks that it would cost a lot to try and promote this product because nobody has used or seen it before
-       He thinks that overall this product would be very useful and supposed that it has not been already created
Interview 4.
-       She really likes the idea but is worried about the trend of people trying to be paper free and better for the environment
-       She likes the idea and sees that there is a strong current need for it
Interview 5
-       He thinks that the idea is nicely designed that it uses both products in one and that you are able to keep your holes from breaking
-       The target market would be ranging from college students to working professionals, and older generation/baby boomers
-       He thinks the paperless trend will affect the sales of the product in the future, the effects of technology have limited the need for paper and hole punchers


Summary:

Based on the interview process, I believe that this product could be very successful. It has a large market potential and a large need for many different groups of people. Also, there is a concern about the trend of becoming paperless, however, many of the people I interviewed do not think that trend will happen for a long time.

Comments

  1. Joseph PlotkinFebruary 9, 2020 at 4:48 PM

    Michael,

    If I'm not mistaken I think this already exists. However, this is a tremendous opportunity. I never really thought of this before so thank you for doing some research on it. I do agree with the people you interviewed that eventually nobody is going to need actual paper because it's harmful to the environment. I think this invention has the potential to be a successful product but inevitably everything we use will be technology. Great post Michael.

    ReplyDelete
  2. Taylor GoldFebruary 9, 2020 at 11:33 PM

    Michael,

    I think this product is valuable because it does target a large audience and is a need at many different levels. While I believe a large portion of paper use will be done with technology in the future, I think there will always be a need for physical paper writing. Thus, this product will always be beneficial in my opinion. Possibly branching out and trying to gain a wider variety of perspectives, especially those who do not believe the product is a need and why they think that may be beneficial in the future. Overall, great post!

    ReplyDelete
  3. The Mainzer PostFebruary 10, 2020 at 12:14 AM

    Michael,

    This is a great opportunity to pursue. That is the worst feeling when I put a three hole punch in my paper and it rips out of my binder. They already have paper that have protected holes that don't. rip as easy but if you created a mechanism that could punch the paper and add a film that keeps it from tearing, that would be incredible. I look forward to seeing how this opportunity progresses.

    ReplyDelete

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