I have added my top 3 product ideas that have been added to my PAB and I have selected my TOP 1.
#ASK: Please could a REAL Coach help me validate my number 1 choice:
Brand/Market Definition is: Brand X is the Adventure Seekers Brand for Outdoors Enthusiasts who are prepared for every challenge.
They are prepared to go the distance and rise to every challenge Mother Nature may throw their way.
Top 3 Product Ideas :
1st Product – [Military compass] (#16, see row 27 on PAB)
-40% Profit and 145% ROI.
-Similar COGS investment ($4 per unit) vs Product#2 and Product#3 and good monthly profit ($3,235). Cost of good are as per Helium 10 (x-ray), and therefore have the potentiasl to be reduced – when compared to Alibaba
-Launch costs at $3,00 and within my budget.
-I can order 2 x orders and invest in launch costs
This is the top competitor [https://www.amazon.com/dp/B01MY6VVWU]
– it produces a higher absolute revenue and profit to fund the next product, even though the launch cost for #16 ($3,753) is nearly twice as much as #14 ($1,889) and the estimated first order cost ($6,243) is 50% more than that of #14 ($4,010) and #15 ($4,749)
– (see row 18 on PAB). Product #7 (Compass) analyis has been included because the military compass comes up for two of same the competitors (Sportneer and AOFAR) that comes up when using Military Compass (#16) (Sportneer, Northies, Eyeskey, AOFAR), although the ranking is overall lower than when “Military Compass” is used. The other compass that comes up under both searches is below recommened $14.99.
2nd Product – [Bivy] (#14 , see row 25 on PAB)
– 39% Profit and 142% ROI.
– lowest launch costs at $1,900.
– However, as Monthly profit is $2,256, tlower than #1 and hence chosen as #2
3rd Product – [Camping wood stove] (#15, see row 26 on PAB)
– 35% Profit and 126%.
– Lowest monthly profit $2,057
– (see row 19 on PAB). Product #8 (Hiking stove) analyis has been included because the Camping wood stove comes up for two of same the competitors (Ohuhu and REDCAMP) that comes up when Camping wood stove (#15) (Redcamp, Tomshoo, Ohuhu, Canway). There is another stove that could be an opportunity that comes up when Hiking stove is used as the search term.