The Runaway Alarm Clock by Rise & Shine Co.
Garrett Mefford
Created on October 15, 2024
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Transcript
Cost and Profitability
Uniqueness
Competition
Function and Need
The Rise & Shine Co.
The Runaway Alarm Clock
- It moves away when the alarm goes off.
- Users must physically get out of bed to turn it off, preventing snoozing.
- Ensures users are fully awake and ready to start their day.
- Addresses the common problem of oversleeping and hitting snooze repeatedly.
- Helps heavy sleepers and those with difficulty maintaining morning routines.
- Ensures timely wake-ups for work, school, and appointments.
The Runaway Alarm Clock
Function and Need
- Manufacturing Cost
- Retail Price
- Retail price of $50 per unit.
- Profit Margin
- 70% profit margin based on the difference between production cost and retail price.
The Runaway Alarm Clock
Cost and Profitability
- Estimated at $15 per unit, including:
- plastic housing
- $4
- rubber wheels
- $1
- motor and gears
- $3
- internal electronics
- $3.50
- battery
- $1.50
- assembly and labor
- $2
- packaging
- $1
- Existing Products
- Traditional alarm clocks with snooze functions that don’t require physical movement.
- Smartphone alarm apps with puzzles or challenges but no physical action.
- Smart home devices (Google Nest, Amazon Echo) that are easily dismissed via voice commands.
- Limited Competition
- Few products require users to physically get out of bed to deactivate the alarm, making this a niche market with minimal direct competition.
The Runaway Alarm Clock
Competition
- Physical Movement
- The clock’s ability to move away from the user makes it a unique product, forcing physical action to turn it off.
- Focus on Effectiveness
- Prioritizes ensuring users wake up and stay up, without relying on fun or gimmicks.
- Reliable Wake-Up Solution
- Ideal for heavy sleepers and those needing a reliable, no-snooze solution to start their day effectively.
The Runaway Alarm Clock
Uniqueness