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PanTelligent

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Evgeniia Gordiuk

on 9 February 2015

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Transcript of PanTelligent

Market Positioning/Problem Description
Product Positioning
2014/12/18
Evgeniia Gordiuk . Sivara Turdushadzhieva . Irina Shakhanova
gordukg@inbox,ru | mjgirl.st@gmail.com | marfakoshmarik@gmail.com
Knowledge and Innovation
Management
Pantelligent - smart frying pan
What is it? Product concept
Business Network Positioning
Business Model
Pantelligent - a frying pan that actually helps you cook. Pantelligent has a temperature sensor inside it that communicates with the Pantelligent smartphone app. Together, the pan and the app guide you to cook everything perfectly, just the way a professional chef would cook it. You’ll know exactly when the pan is at the right temperature, when it's time to flip or stir, and when your food is perfectly done.

It is perfect for everyone who even once thought about opportunity to have perfectly cooked dishes without putting too much efforts and time.
PanTelligent
Customer Problem
Difficulties with food preparation, lack of time to look after cooking
Market Segment
20-40 y.o, both Males and Females(but mostly Females), single, both employed/housewives, medium to high income. Creative, positive, curious
TAM:
1 billion people (http://www.prb.org/)
Pre-orders
Web-sales
Partner store
Newness
Design
"Getting Job done"
Convenience
Accessibility
Direct sales
Price: $199
Communities


Personal assistance
Manufacturing
People
Marketing&Sales
Further Development
Rangers team
The key is Pantelligent’s patent pending design that accurately measures the temperature of the pan’s cooking surface.
Then, Pantelligent connects to your smartphone wirelessly via Bluetooth Low Energy and our app does the rest, guiding you to perfectly seared scallops, crispy bacon, or moist, juicy chicken. ->
Functional + experiential positions
Entry Window
: new innovative product in existing market, many competitors but industry "almost forgotten"
Partners
of aluminum, Teflon, plastic etc.
Suppliers
Key Customers
Customer Benefits
Operations
Suppliers in China
Physical sample
Need a perfection of product
Competition/Substitutes
Competitors:
• Berghoff (health way to cook) = 55 $
• Frybest Rainbow = 35 $
•Jetboil (frying pan with a radiator) = 60 $
Substitutes:
Restaurant food, ordinary frying pan, food "cooked by mom"
Operations
Risk
For a complex hardware project such as this, there are two major risks. The first is technical risk that the functionality and features promised by the creators turn out to be very difficult or even impossible to implement. The second is supplier risk, as creators sometimes find that certain parts of their design cannot be manufactured in a timely or cost-effective manner.
We’ve attempted to mitigate both these risks by building a fully functional prototype before starting our Kickstarter campaign. We’ve already hand-assembled over 100 prototypes as we iterate with our subassembly vendors to meet our demanding specifications. We’ve verified that our design works, and our beta testers have logged hundreds of hours of cooking time on our prototypes to date. All the vendors needed to create Pantelligent at scale have already been identified and are ready to work with us.
Of course, nothing ever goes exactly according to plan, and our time estimates reflect that. There is a significant amount of buffer time built into our production timeline to account for any unforeseen circumstances. We have high confidence that we can deliver your Pantelligent by summer 2015.

Finance
Pantelligent seems to be catching on with Kickstarter backers. It has raised over $55,000 toward a $30,000 funding goal with a healthy 19 days left to go. A smart frying pan of your own will cost you a $199 (about £127, AU$231) pledge. 
We were planning to sell about 50 Pantillegent with a first week of being in the market and get in average 9950 $. We suppose this amount of customers, due to our pre-selling activities. Most of our potential customers have already learnt from our product from our community pages on Facebook and Twitter. But overall goal of $30,000 was reached in 3 days after launch.

1. - Initial product: Need raw material for producing a pan( such as aluminum, Teflon, plastic etc. ), IT-technological base(computers, IT- programs, software.
- Extra material with better quality(to improve pan over time), which should suit the latest trends, scientific base to develop new useful functions for a product, implementation of new IT-technologies where possible.
2. - People, needed to be hired: 4 MIT engineers(create the technical model of a pan), financial analytic(to establish economical situation of the market and pinpoint opportunity of our company with market’s opportunities), PR manager, accountant, general executive manager.
- Partners: Android’s producers, Apple, social sites( Facebook, Twitter)


Operations
3. Nowadays: We have a complete design, functional prototypes, and dozens of real working units in the homes of beta testers. Our current prototypes are machined and assembled by hand, so we’re familiar with the process. The final production version will be similar to our prototypes with only a few differences (industrial design details, geometry, color and finish, etc.) as we continue working with our vendors on the road to full-scale production. The handle will be molded out of a commercial-grade thermoset plastic resin, the same material used for high-quality frying pan handles. The pan will be die cast specially for Pantelligent with features to house the sensor. We have developed a proprietary, patent pending process to reliably install the temperature sensor onto the pan. The funds raised on Kickstarter will be used for creating the dies, setting up tooling, obtaining regulatory approval, and completing the first Pantelligent production run.
Our Advantages:
• App connecting with the pan
• We set our ovens to specific temperatures when we bake
• Real time instructions
Customer benefits:
• Teflon nonstick coating that is rated to last 3 to 5 years
• More free time
• Less headache
• Dishwasher-safe, so you're limited to stovetop cooking and hand-washing
• The app even lets you create and store your own recipes if you feel like getting creative.
• The app even lets you create and store your own recipes if you feel like getting creative
650000 consumers are able to buy the pantelligent ->
Profit=129.350.000


We expect the first production pans to ship out to backers in August 2015.
Implementation, Status, Traction and Financing
Full transcript