New Product Proposal
Quick Binder (Bandage for Quick stopping of the Bleeding)
Every moment, we are exposed without protection to various harmful environments. Every year, statistically speaking, the number of accident rate is increasing rapidly. Those frequently occur in our lives by the sword cuts, bruises, fractures, burns, insect bite, and in the emergency treatment unit, so that a disposable bandage was used. Likewise, people are not safe from various accidents and infections all the time. Even a small scratch shouldn’t be ignored because it would be increase the risk of infection due to various viruses. Even a single blister can lead to an infection that won’t heal. Furthermore, children are more liable to infection, and also senior people are at higher risk of more severe infection. At some point, we shouldn’t be ignored that happened in our daily live. When we got wound and bleeding, we put a pressure bandage on the wound. Same as usual, we usually use a normal bandage as well. What’s the worst part of wearing an adhesive bandage? As far as I know, people shouldn’t be able to use the bandage once a day because the life cycle of the bandage is very short. For instance, when the bandage is saturated with blood wet with bleed, we should change the bandage once or several times. People experienced some minor discomfort during the treatment. In other world, a majority of bandage has no function for stopping bleeding. Some of bandage products have cure function, but it is not really help stop bleeding at all. Sometimes, people might think of this situation and wish to have new bandage that can stop bleeding more quickly. A new bandage product will make it possible to stop bleeding without changing the dressing. If the new bandage exists, it should include the functions of stop bleeding and heal the wound. It would be make a better treatment and convenience for patients.
Bandage, generally, is a piece of material used either to support a medical device such as a dressing or splint, or on its own to provide support to the body. Bandages are available in a wide range of types, from generic cloth strips, to specialized shaped bandages designed for a specific limb or part of the body, although bandages can often be improvised as the situation demands, using clothing, blankets or other material.
Adhesive bandages for minor wounds, generically known by the brand name “Band-aid”, and have improved considerably in the past few years. Before introduce our product, we conducted to consumer test several new types, including liquid film, hydrocolloid, and the semi-permeable membrane. During our informal investigation, all were subjected to blood, sweat, tears, salt water, engine oil, solvents, cooking debris, cleaners, dirt, abrasion, and other forms of abuse.
The liquid film bandage also was a disappointment. It was very easy to use for minor abrasions, just brushed on with an applicator right from the bottle. However, in 100% humidity (definition of small boat) it takes a few minutes to dry, which can seem like forever in some situations. Also, even though the solution contains an antiseptic, the same bottle and applicator really should not be used on another person.
After we identified the disadvantage of current bandage products, we decided to integrate all problems and will suggest solutions that can help for making a better treatment. We designed our new concept of product that will contain more unique functions, various types of size, and excellent elasticity.
From now, we are going to introduce new concept of bandage.
Concept of Product
The new concept of bandage is called “Quick Binder’. Quick Binder means that is primary designed for quick stopping of the bleeding from any wounds. This is designed to absorb the blood, while adsorption to enable rapid hemostasis is intended to provide a bandage. To achieve this goal, the present invention, equipped with tape on the top of the pad and pad to stop the bleeding in the middle of the pad, where in the options. Such as the present invention for disposable absorbent cotton, bandages and hemostatic pad equipped with a large amount of blood to absorb and to enable rapid homeostasis, and for medical treatment attached to a meeting alone, and hemostatic puncture made at the same time, health workers, improve the efficiency of the operation that allows rapid performance has the effect. Our purpose of new product is focused on styptic cotton on the inside of band because it is core function of our new product. In addition, we added multiple functions such as excellent elasticity, various types of size and shape, waterproof, liquid film, and long term use, against all type of allergies, no skin irritation, specially designed for children, and all included in current technologies.
If the product releases in the market, we have a quiet confidence that the product will be able to compete to rival companies in the existing market. However, this product has couple of disadvantages. First, it will be more expensive than current products. Substantially, a price competitive is very important to compete to rival companies. In order to compete to other companies, we should consider about a price competitive and have to make a contingency plan. Also we should develop and improve quality of our product. Second, the Research & Development (R&D) cost will be high. It is very important to introduce the new product because it can be cause from failure. We identified positive opportunities through the research. Recently, our rival companies have no such a technology. Through the technology, we can compete to rival companies so that we can raise a market share in the bandage market. Lastly, we have many potential problems of:
Research & Development Approach
It will be based on four P; product, price, promotion, and place
Feature of product
Advantage of product
The company will be obliged to create an awareness to everyone, whether a child or an adult. This can be achieved through the media adverts either in televisions, radio or even billboards. First it is not the child consumers who buy the products: it is their parents or guardians’ .So it will be an effective factor would focus more on awareness to them. The company could raise the knowledge of the quick binder by visit places where children are known to congregate. It could be schools, playgrounds (during school holidays), their neighborhoods, shopping malls among other places. Still, the company could be preach and bring their product exposure (in this case the quick binder bandage) by voicing their presence. It could achieve this by a number of ways like: becoming the sole sponsors of football matches where they not only reward the overall winners with liquid cash but also with packages of the quick binder bandages. They could also volunteer and set up a ‘doctor-team’ during the matches to cater (Kotler Philip, 2009) for the wounded and before they are given complex medical treatments from hospitals, their cuts, fractures could first be bandaged with the quick binder. This could spell an innovative way of target marketing since the football matches are filled with a lot of fans.
Product mix: this would involve using other products and (or) services alongside the quick binder bandage. This would render the use of the products that are associated with cuts, bruises, fractures and other forms. The products that could be offered alongside the bandage would range from antiseptics to painkillers and this would not only attract customers to their products, but also secure a future market for the company.
Price: Where the product pricing is the main objective during the manufacturing, some few factors should be put into considerations when setting the price. First the company will need to understand that there are other types of bandages in the market and other rival companies. Here the saying,’survival for the fittest’, comes into use. When the cost of producing is big and the expenditure of supplying still big, the company needs to be very careful when setting the market price. It may try to lure customers from other companies by offering remarkably lower prices and it be a whiplash to the company: in either that the customers may tend to think that they are offering low quality bandages or the company will incur losses. In short there must be a good price-quality relationship. The company could attract customers by offering discounts and lure them into using the bandage by offering seasonal prices. For example: during the holiday seasons when children engage in a lot of activities in either as home chores(such as cooking and maybe get bruises) or outdoor games(such as football where they may get cuts) the company could set peak prices and in the schooling days off-peak prices.
Promotion: this would involve the company that produces the quick-binder bandages doing marketing practices such as advertising through the media, setting price reductions so that the consumers could buy the quick-binder bandages in excesses, offering samples like giving emergency kits to both private and public drivers, enhancing good public relations by giving back the money in the society as in scholarships and rewarding in schools, sponsorships outdoor activities among others.
Place: this would determine how the bandages and the other related services (or products) would be acquired or found. The company can create its awareness and then sell the products through dealers or in the shopping malls. In short this is the convenience of the bandages: it answers the question; where, how and when can they be found?
Kotler Philip, A. (2009). Principles of marketing. California: Pearson/prentice Hall.