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    Ritesh Parish
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    Two students, Jeff Avallon and John Goscha, came up with the idea for an erasable paint called IdeaPaint while brainstorming in a study room covered in Post-it notes. They tested the concept with professors and investors who saw potential in the idea. After developing a prototype, they had students at their school test the product to get feedback before commercializing IdeaPaint. It is now available for purchase and used in over 10,000 locations worldwide.

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    Two students, Jeff Avallon and John Goscha, came up with the idea for an erasable paint called IdeaPaint while brainstorming in a study room covered in Post-it notes. They tested the concept with professors and investors who saw potential in the idea. After developing a prototype, they had students at their school test the product to get feedback before commercializing IdeaPaint. It is now available for purchase and used in over 10,000 locations worldwide.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    10 views11 pages

    Marketing

    Uploaded by

    Ritesh Parish
    Two students, Jeff Avallon and John Goscha, came up with the idea for an erasable paint called IdeaPaint while brainstorming in a study room covered in Post-it notes. They tested the concept with professors and investors who saw potential in the idea. After developing a prototype, they had students at their school test the product to get feedback before commercializing IdeaPaint. It is now available for purchase and used in over 10,000 locations worldwide.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 11

    DEVELOPMENT OF

    IDEA GENARATION
    New-Product
    Development Process
    SCREENING

    CONCEPT TESTING

    BUSSINESS
    ANALYSIS

    PRODUCT
    DEVELOPMENT

    TEST MARKETING

    COMMERCIALIZATION
    It all starts with
    IDEA GENERATION
    • This came by brainstorming by a student,
    Jeff Avallon and his friend John Goscha
    sitting in a study room with walls covered
    in Post-it notes.
    • They thought walls could act as
    collaboration tools.
    • They came out with many ideas to have
    the concept of being able to write over
    an entire wall.
    After Idea Screening
    • They decided to devise an erasable
    paint to satisfy their want.
    CONCEPT TESTING
    To testify the feasibility of the idea,
    they seek help from:
    • Two professors
    • A college-board member
    • a parent to see if they believed in the
    idea and invest on it.
    Business Analysis
    • Profits, goal and marketing mix strategy
    are planned in the business plan.
    • And evaluated in Business Analysis
    Product Development
    • they were going out of concept but took
    actions by producing a prototype
    Test Marketing
    • Finally IdeaPaint had a prototype.
    • They had a conversation with
    everybody at school (Babson), “who
    could be a potential customer or user ?”
    • When the final product was ready, they
    let the school be the first customer.
    • This was the way they tested the
    Market.
    Commercialization
    • IdeaPaint is now available in 2 forms:
     $175 for a 50sq.ft. of coverage by CRE-
    8.
     $199.50 for a 50sq.ft. of coverage by
    PRO.
    • It is on the walls in 10,000 locations
    around the world, including MIT, MTV
    Networks and The Limited Brands.
    Bibliography
    • http://www.google.co.in
    • http://www.ideapaint.com
    • http://uwmktg301.blogspot.com/2010/03/new-product-develop
    ment-process.html
    • http://www.entrepreneur.com/magazine/entrepreneur/2010/ma
    rch/205056.html
    Thank You . . .

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