Marketing
Attribute Analysis
The attributes of the Smart Wall are that is offers the opportunity to change the look and feel of a room with some programming, in particular a smartphone app that can activate the wall covering. The wall covering is billed as a wallpaper but it is not really that, since it is comprised of LED lights that are controllable with the app, and thereby able to change the colors and patterns of the wall, giving total flexibility for the look and feel of a space. The app will be available for both Android and Apple and will use Bluetooth to communicate with the SmartWall.
The attribute is interesting, and certainly not something that has been seen much. Thus, there is some risk here in that the market for this is not all that well-known. For example, there have been a few things with variable lighting on walls that have been tested at some hotels but this is not widespread. So the idea of novel but untested, which means that while there is curiosity in the market about this product, it is as yet unknown what the actual demand is going to be for this attribute.
To estimate the demand, one needs consider the spaces. Now, changing the look of the room is only possible where the furnishings and fixtures allow it -- in some cases a new color or pattern on the wall will ruin the entire look, so this attribute is mainly for people who will be willing to design an entire room around the concept. By and large, this market is going to be commercial, especially sites like hotels, nightclubs and restaurants that can benefit from changing the look and feel of the room easily. Retail clients are likely the type who will dedicate a room for this and install furnishings in neutral colors in order to take advantage of this key attribute -- probably...
So there is definitely room to sell this attribute, because there should be customers who will benefit specifically from it.
Competitor Analysis
When you have an innovative new technology, it is important to focus on the broader competitive market, because there are no direct, immediate competitors. First there are wallpapers. Some are dated and have contributed to the decline of wallpaper, but there are companies seeking more innovative wallpaper concepts to liven up spaces (American Blinds, 2013), and these would be considered competitors. Wallpaper has the same key attributes of transforming rooms and defining styles (Macron, 2013). Wallpaper is roughly the same competition because it is a wholesale solution for wall covering.
Anything that adds to the look and feel of a wall qualifies. This includes paint, which is subject to intense competition. There is a lot of paint available in an array of colors and styles, but ultimately paint is one-dimensional. It does not change very often. Other wall coverings that are less permanent can be considered competitors. One of the big reasons is that they have the same attributes, in particular with respect to being able to quickly and easily change the look and feel of a room. Anything from a painting to a tapestry to mobile or Balinese masks. Anything that decorates a room is fair game to be competition for this wall. The SmartWall is more easily changed than any of these, but less flexible with respect to look and feel because it is two-dimensional while other decorative elements can be three-dimensional.
SmartWall therefore faces a number of competitors, albeit few direct ones. The product's niche will allow it to gain business without overtly beating a…
