Idea Analysis Week 9: Button Trackr

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July 19, 2016
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Idea Analysis Week 9: Button Trackr

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Two years ago, I was sitting outside a train station waiting for a friend. I happened to leave my two phones on the seat and forgot to take them with me when I got up. I had barely walked a few meters when I realised however when I turned around they were gone. Having something like button tracker would have been excellent at the time! – Gurpal

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Breakdown Description
Product Name Button TrackR
Website http://www.indiegogo.com/projects/button-trackr-find-lost-items
What Is It? Button TrackR is a tracking device that’s the size of a small coin. It can be attached to your personal items which can then be monitored through a free mobile app.This coupled with a community of people around, where their tracking apps, would also be able to help you to locate your item would help you find your lost items faster.
Why We Like It We all misplace items (often on a daily basis) and when we are caught up in circumstances, we sometimes lose valuables such as our wallets, phones and other important items.  Just think how much trouble, time and money we could have saved if we had a simple device like Button TrackR! It would at the very least provide us with an opportunity to get our items back. For people with memory loss problems, Button TrackR would be a useful tool in helping them cope with their day to day lives.
Target Market The target market for the product can be really wide. In this case, there are many people (at different levels) who could use the device.
How Will They Make Money?
  • The inventor has also released another tracking device the size of a credit card that would fit into your wallet. By focusing on this particular problem with a wider product range, the inventor will be able to sell more products by bundling or selling complementary products.
  • For others, distributing these products would be a good business model for the product range.
How Will They Reach the Market?
  • The inventor has tapped into the power of CrowdSourcing by using IndieGogo to fund his project.
  • By using the IndieGogo platform, they are able to see if they have interested customers (which they have, as they have passed their Goal Amount).
  • The CrowdSourcing platform also helps to raise more awareness of the product.  This is because the platform allows them to be viewed by bloggers and shared by friend of friends on social media platforms.

 

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