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Idea Overview:
I'm creating a consumer decoration product that can be sold consistently across the world. It can be customizable in the manufacturing space which would appeal to all audiences. Its design contains a simple metal ball and a switch dimmer. It is a shape of a cylinder fuse.
Imagine a kid getting their homework out at night, and sitting on their desk while turning up the magnetic lamp. It suddenly brightens the room and a ball floats in the air without explanation. He slowly turns the switch, and it slowly dims. The ball slowly falls and he works on his homework.
Who might use it/where it might be used?:
The target consumer would be the average person because it is a desk display item similar to Rubik's Cube, Lava Lamps, Anime Figures, etc. It would be used to decorate a household's living room, bedroom, or any places where people would hang out. It would also be in different colors and be made in different shapes.
The Market (B2B, B2C or Both):
Business to Consumers (B2C)
Sector the idea belongs to:
Media and entertainment
Is there a similar idea to be found?:
It is almost similar to lava lamps because it's consistently moving. I did research on lava lamps and other decorative products like Rubik's Cube or even paintings. The reason why some of these products succeeded is because it was quickly sold and marketed on social media before being sold passively with almost no marketing. Each of them had controversies or events surrounding them. For example, lava lamps were quickly sold as a protest against drugs, while anime figures were quickly sold as a status from popular anime, and Rubik's Cubes were sold because of the competition to solve this puzzle.
Why you think there is a demand for your idea?:
There will be demand for this idea because it can be customizable on a website which would stir controversy and it would give a variety of products to the customer. It would also be marketed on social media sites such as YouTube or Twitch because most businesses that use sponsorships usually have a higher chance of succeeding.
Who would be the ideal customers?:
Since this product can be used for any household or place, it could be bought by the masses primarily. It would be more effective to be bought by science geeks, professionals, or anybody who would want their environment to be improved.
What ideas do you have to reach these customers?:
It would be easier to reach these customers through social media influencers, customer loyalty (or word of mouth), viral social media posts, and events or promotions.
How far have you developed this idea?:
I've only started trying to create the blueprint, but I would need an electrical engineer. As for partners, I've hadn't spoken to anybody yet but I've gotten a few problems that I've already planned around. Earlier a few years back, I saw a shark tank episode on Scrub Daddy and the investors that didn't invest in these products made a point that one-product businesses are most likely to fail because they only have one supply chain. Scrub Daddy ended up succeeding solely because of the marketing campaign produced by the owners when they presented their products compared to their competitors.
What – if any – feedback have you had for this idea so far?:
In order to properly market a one-product company, it must first create a controversy or an event such as a promotion or even negative press. It must be sold before being marketed which is a common occurrence between every one-product successes, and it must be quickly manufactured and sold right after a controversy or an event. After this, marketing should mostly be based on exposure, word of mouth, and customer loyalty.
What supporting material – if any - would you like to add to your proposal?:
https://docs.google.com/document/d/19bxdTEJcOKBsBsGHA_gKMAbEkrOeytWtm6UzdMXbNC8/edit?usp=sharing
It's also to note, I just need electrical engineers and create a single product before showcasing the product to retailers. The technical drawing isn't complete because there are a lot of things that cannot be manufactured or a lot of parts that may be defective.
4 comments to “Magnetic Lamp”
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Simon Krystman - July 16, 2023 at 6:22 am
I would recommend you look at a couple of avenues to validate this idea. 1. Get some designs created and put them on a landing page for people to join a waitlist to be the first to be told when the product is ready for sale – this will help you understand customer desirability. 2. Build a working prototype, you may need co-founders to help you – this will help you understand the feasibility of the idea.
branden Yang - July 16, 2023 at 6:00 pm
https://www.gofundme.com/manage/i-need-help-funding-a-project
I created a gofundme page if you guys want to donate.
Simon Krystman - July 17, 2023 at 10:05 am
I’m not sure why we would want to donate to an idea that might not be feasible to make or have a market need Branden?
branden Yang - July 17, 2023 at 11:11 pm
I do need an engineer to be able to make it. Most products are sold based on wants. Not everybody needs Legos, but everybody buys them because it appeals to their wants. Maybe it’s to appease kids, but people buy based on wants, people stay loyal based on needs. Anybody would need lamps, but not everybody will want to buy an old lamp to light their house. Same with medicine, not everybody likes the taste of medicine, but everybody wants to be healthy. Very rarely do products sell based on needs.
But I’m going to try to find a venue where I can validate this idea to the market, I don’t have the funds nor knowledge to be able to get a landing page. Plus, if people donate to the idea, that would prove that it has a market need.