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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