Product Concepts Assignment

In season 15 episode 2, the pitch that resonated with me the most was the first pitch with the sandbags. The reason being was because these sandbags were not ordinary sandbags. They were reusable up to three times and also lightweight which was a plus. The sandbag which the father and son on Shark Tank named Storm bag also had many ways for this product to be used. Normally in order to use a sandbag, you have to do the labor yourself and fill up the bag with sand. However, with the Storm bag, no sand is necessary. In the clip of Shark Tank they had a sample of the product in front of each shark. There was a jar with a substance in it. The substance is an absorbent polymer. This substance is put inside the Storm bag and once water is poured onto the bag, 3-5 minutes afterwards, the absorbent polymer turns into a 35 pound Storm bag. The gap this product fills is having a reliable and simple solution to floods,leaks in your home and even can be used to slowly water any plants or flowers.This is what makes this product really unique compared to regular sandbags. They gave examples of a pipe bursting in your home such as behind your washer machine. This Storm bag would come to the rescue and stop the leak from continuing and become a barrier. Or if you are traveling and on vacation for a few days, but you have some plants, this can also be used to water the plants steadily for up to three weeks. I feel this is a great product to invest in because it is easy for anyone to use. I feel many people at one point in their life had had some type of maintenance issue in their home and feel this product would be great to keep in case ever needed. I also like that it is mess free and there isn’t any hard labor to use it. The only problem that one of the entrepreneurs brought up was that regular sandbags are free. He felt that as their competitors it is tough to compete against free. However, I still feel it can be a huge success because the price was reasonable and makes up for not having to dig up and fill the sand bag yourself. I would rather pay a reasonable amount of money for a service that will be ready in just a few minutes. This feels worth it compared to a product that is free but I have to do the labor myself. I also believe lots of consumers would feel the same way and buy this product and feel it is essential. A way that this product can be best positioned would be by having a great marketing strategy. On Shark Tank they stated that they have not had any product marketing. This was a little shocking because they have made some profits considering this. So I believe if they had the right marketing strategies and determined who their target audience is, and the needs of their customers, their sales can definitely be boosted. Also if they look into making creative content and using social media platforms to get the views, likes and shares, the company will reach a larger audience and have a higher chance of gaining new customers while keeping their regular customers satisfied.

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