1. Glow Bait A new type of fishing lure designed to catch tuna. This product would be used by big game fishermen. Around 35 million people fish in America every year and about 70,000 of them are big game fisher's.
2. The Customer Glow Bait is a fishing lure designed specific to catch tuna that can weigh up to 150lbs. The lure is made for big game fishermen who fish competitively or for recreational fishing .The market size is roughly 70,000 people, excluding commercial fishers.
3. The Product Glow Bait follows the common design of other tuna lures but has the special attribute of a built in LED light that helps attract the Tuna to the lure. The way the product is designed the LED lights inside will activate when cast into the water and turn off when pulled out. Once the batteries inside die a new lure will need to be purchased
4. Product Goal The basis of this idea is to give big game fisher's a new edge to catch tuna. The goal is to try and sell at least 1 Glow Bait lure to every big game fisher, depending on the success of the product and customer approval the goal could multiple several times over since eventually the lures will need to be replaced.
5. Cost Analysis Relatively easy to make the cost of producing each lure is minimal while the product can be sold for up to $20.00 over manufacturing cost to match competitor prices. If at least 70,000 can be sold then projected income would be 1.4 million dollars.
6. The Market The Product will have its own website giving in depth details of the product and how it works and also information to purchase the product. Most competitive big game fishers host websites of their own that give advice on how to catch big game fish, in these descriptions the type of lure used to make catches is often given and recommended. If the product is successful news of its effectiveness will be spread through the forums and blogs of these websites giving publicity for the product.
