"When you have Snake Eyes, abducters have No-Dice!" ^©

No-Dice Co. operates in the safety market, with a focus on child protection. We are currently prototyping a product which will be available across Canada by 2005. In order for Snake Eyes to reach it's full selling potential, we will need to identify the market niche to be filled. The market niche is essential to any businesses’ success, which is why we at No-Dice Co. have conducted an in-depth market gap analysis. The questions we feel need to be addressed are as follows:

• Is there an unfilled need for this product?
• Who is the potential customer?
• How do we compare to our competition?
• How much will the product sell for?




Product Need

Being lost in a mall or amusement park is a traumatic experience for any child who has wandered away from their parents. In a room of ten people, at least seven had previously been lost in various public areas including airports, malls, amusement parks and sports stadiums. But, simply getting lost is not the end of the issue. In the Toronto area, the recent kidnapping of two young girls raised national concerns about keeping a close watch on our children, the future of Canada. The need for a product to keep track of children has never been so prominent.

In preparing this business venture, we conducted a survey, which was crucial in determining whether our product is desired. Click here to see the survey and results.



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Target Customer

Our product would be most valuable to parents with children between the ages of two and nine. We’ve chosen to tap into the Canadian child safety market because of the lack of similar products available to the Canadian public. There are eight million families with children in Canada, (Statistics Canada, 2001) who are potential customers for Snake Eyes. Over a period of four years, we are hoping to penetrate approximately 5% of the market.



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The Competition

In terms of competition, there are many other companies and corporations that successfully penetrated this particular market within the United States. However, our target, which is to provide services to Canadians, has yet to be explored by competing companies. Furthermore, our product is a one-of-a-kind innovation that is more practical and affordable than existing devices.



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Pricing Structure

Table 1.0 - Cost Analysis


Circuit Boards x 4	$ 20.00
Aircraft Cable with lock	$2.00
Diodes x 2	$0.50
Resistor	$0.50
Batteries	$1.00
Aesthetics	$9.00
Labour	$7.00
Total	$40.00




This product will be sold directly to the customers at a retail price of $60.00. In the future, we hope to expand our company and ultimately broaden our market niche.


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© No-Dice Co. July 2003