Watch your older relatives the next time you go out to eat. Do they have trouble seeing the menu well enough to read it? Chandler Powell did, and he had no luck finding a lighted magnifying glass to correct the Situation.
When the 21-year-old college student attended a musical (at a poorly lit theater) and had a tough time reading the program, he again thought that a lighted magnifying glass was just what he needed.
Eventually, he located several types online, but none proved entirely satisfactory. He decided that he had identified a marketing opportunity. He set his sights on the U.S. symphony market because it attracts older people who would likely benefit from such a product. But first, he needed a product.
Source: Sarah E. Needleman. -$elitng Your Product to an Exclusive Club: Startup Journal, ViSl.com. accessed May 18. 2006.
1. Where might Powell go to have a prototype of his product built?
2. Where should Powell seek advice about how to market his product?
3. What other markets might be right for a lighted magnifying glass?