benchmarking ideas - product...

Benchmarking Good Ideas

Andrew Comfort Toy Product Design

February 4, 2015

Basic Structure:

story

principle

application

story from Andrew’s experience

principle, technique or concept exemplified in that story

how to apply the principle, technique or concept to a new post-mounted play experience

Where did Q-BA-MAZE come from?

•  toilet bowl brush •  word flip flops •  Box of Fun

Box of Fun?

Playground Memories

Write down some favorite childhood playground experiences (3 min)

What are Good Ideas?

What are good ideas…

for products? for toy products? for post-mounted playground experiences?

Thomas Edison: "never waste time inventing things that people would not want to buy."

who is the buyer? who is the customer? who is the end-user? why buy your product vs the competition?

What is Benchmarking?

Benchmarking

Is the continuous process of measuring products, services and practices against the toughest competitors or those recognized as industry leaders

Benchmarking

Is assessing your product against competitors and the broad market

RED OCEAN

RED OCEAN

RED OCEAN

BLUE OCEAN

Benchmarking

Is assessing whether you are in a blue or a red ocean If red, can you find a gap of blue?

Benchmarking

Is competitive research (what architects call precedent study)

Be a

GEEK

Be a

GEEK about your market (research skills)

Benchmarking tools:

Online: •  Google •  Amazon •  Pinterest •  Competitor website

Benchmarking tools:

Analog: •  Library •  Journals •  Magazines •  Newspapers •  Books •  Stores •  Tradeshows

2003 SALES REVENUE: Taurus Toys -- Block n Roll PRODUCT SALES 1 EST. SALES 2 RETAIL EST.

WHOLESALESALES REVENUE % OF TOTAL

REVENUEspecial blocks 120,000 3.95$ 2.00$ 240,000$ 3%40 piece 120,000 14.95$ 7.50$ 900,000$ 10%60 piece 360,000 19.95$ 10.00$ 3,600,000$ 41%100 piece 180,000 29.95$ 15.00$ 2,700,000$ 31%130 piece 45,000 39.95$ 20.00$ 900,000$ 10%200 piece 14,000 59.95$ 30.00$ 420,000$ 5%

8,760,000$ 100%

1 annual sales of 60-piece and 100-piece sets from Bangor Daily News, Saturday Nov. 27, 20042 annual sales of other items in product line estimated on a 'bell-curve'

Benchmarking tools: Analog: •  Thomas Register

Publications & Periodicals •  Standard Industrial

Classification (SIC) •  North American Industry

Classification System (NAICS)

Benchmarking tools:

Analog: •  Talk to experts in person or

on the phone…

Benchmarking tools:

For post-mounted play experiences: •  Playgrounds

•  City •  Children’s Museum •  Science Museum

•  Competitor websites •  Competitor catalogs •  Tradeshows •  Organizations •  Landscape Structures Staff

Back to Good Ideas

Where do Good Ideas Come From?

The Adjacent Possible

New Materials

Be a

GEEK

Be a

GEEK about your concept (design and maker skills)

Good Ideas come from

Failure

USPTO.GOV

RED OCEAN

BLUE OCEAN