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At the beginning of the project, we analyzed similar solutions to the problem statement that we developed and determined the pros and cons that we saw in each product. Those similar solutions contribute to our market analysis as we get farther along with prototyping. The information we gained from that portion of the project will be useful in seeing if our solution is plausible in today's market.
Competitors
Competitors
Our competitors include HidrateSpark, LARQ, Waatr, and Ember, products from our similar solutions, and Yeti, Stanley, and Hydro Flask, popular water bottle brands. Current solutions cost anywhere from $30 to $200, and we intend for our product to be in the $30 to $60 range.
Ethical Responsibility
Ethical Responsibility
One of the major goals of our water bottle is to give people an alternative to using plastic water bottles to lower pollution. We also want to make sure that our product doesn't add to the pollution problem when its lifecycle is over.
Target Audience
Target Audience
Our stakeholders include people of all ages as well as sporting goods stores and supermarkets. Our product reaches a wide demographic because it affects all people that drink water and want to stay hydrated.
Manufacturing
Manufacturing
If we bring our solution to production, we would partner with a manufacturing company that has worked with similar products before. They would most likely mass produce in a factory. We would distibute through our own website dedicated to our product, or company should we start one, and we would also distribute to sporting good stores and supermarkets, some of our proposed stakeholders.
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