My 14 year old son and friends were working on a school project related to marketing. Their goal was to develop a business plan and market a new product. Their first task was to find a new product to market. They actually did a great job and found a really unique product that almost everyone would have a need for. It is a multi-functional new type of flash light that uses numerous LED light bulbs. In fact, it has 54 LED bulbs built into it. It is one of the brightest lights on the market today. The only one brighter was designed for military use and is actually not that much brighter than the Safe-T-Lite. The only big difference is price. The military model costs about ten time more than this commercial model.
My son and his friends were looking for a niche market for this unusual flash light. I told them that I thought it would make an ideal give-away gift for casinos. Most casinos look for unique gift items that will appeal to their players and also offer high perceived value. The product is unique, the packaging and size are perfect and the price is fantastic ranging from $14.95 to $19.95 F.O.B. New Jersey depending upon quantity. Their first task was to write their copy for their ad.
Remember my previous article about “Perception is reality and reality is perception in the casino business. The casino business today is not about making money, it is about creating value for our customers. Create the value first and making money will be much easier.” […]