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Executive Summary

Napping is an important part of human especially as people continue to sleep less in an extremely competitive world. To solve the problem of sleep deprivation, Studio Banana observed that other companies try to address the problem by making people take more and more caffeine to remain awake. However, according to the founders of Ostrich Pillow, this was wrong. As a result, Studio Banana developed an innovative product allowing people to nap anywhere and at any time. Reinventing profit and running a fundraiser were the primary sources of funding used by the founders. Today, Ostrich Pillow can be described as a brand because of the efforts made by the entrepreneurs. The current paper will evaluate Ostrich pillow produced by Studio Banana as an innovative product fulfilling sleep deprivation across the world-through comfortable napping. Napping is important hence the need for a product that permits people to nap comfortably.

Question One

There is a broad consensus about taking a nap during the day. Indeed, approximately over 85% of mammalian can be termed as polyphasic sleepers-they tend to sleep for short intervals during the day (Sleepfoundation.org, 2014). Since humans form part of monophasic sleepers, their day is mainly divided into two significant periods-sleep time and wakefulness period. However, there is no single research establishing the sleep patterns of humans especially for the young and the old (Sleepfoundation.org, 2014). With increasing economic crisis, people are sleeping less across the world and working late night to earn an extra coin. As a result, napping has become part of many people across all culture. People will take a nap whenever possible on the bus going to work, waiting for the bus and all other “odd” places. It is for this reason that renowned company Studio Banana identified the importance of napping in the current generation and came up with a very innovative product called Ostrich Pillow. People will need to take a nap with minimal disturbance irrespective of the duration of the nap, and this is the exact need that the Ostrich Pillow seeks to fulfill-have a truly refreshing nap regardless of the noise around.

Studio Banana is a company with dedicated team aiming to manufacture ingenious products for their esteemed clients. The company realized that the contemporary world is in constant move or evolution hence the need of a product that would allow users to catch a nap anywhere at any time. Everybody loves to sleep, well as it happens; the team at Studio Banana observed that most people do not get quite enough sleep. In fact, the team researched and found out that before the invention of the Light bulb, people used to sleep for approximately ten hours a day. However, in the contemporary world, people in Europe sleep for seven hours six hours in United States of America and five hours in Japan. According to the new venture, this was quite saddening, and something needed to be done. There was a global sleep deprivation. According to the founders of the product, some other companies have come up with products that tend to keep people awake for long hours and this is very unhealthy. According to the new venture, a happier approach to this deprivation would not be to force people remain awake, but to allow people to sleep whenever they want.

After lengthy designing attempts, the idea of Ostrich pillow was born. The main aim of the ostrich pillow is based on the benefits of a nap. Therefore, the Ostrich pillow aims at making people have a peaceful nap that restores alertness. In so doing it creates a microenvironment where the user can take a warm and comfortable power nap. According to the designers, the Ostrich pillow is neither a cushion nor pillow, it’s also not a garment or bed, but it is a moderation of each of these things. It can be described as a cave-like shelter that isolates the user’s head and hands for a perfect nap. For an entrepreneurship to be considered innovative, it should surpass the economic cost, fill a current need and have unique features that to a great extent have not been in the market.

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Ostrich Pillow is a product that goes beyond creating value for users’ money. It has several innovative aspects that make it a widely accepted product in different locations in the world. It is a revolutionary product enabling a user to catch a power nap everywhere and anytime. The product has a unique design that locks out any noise giving the user uninterrupted nap. As an innovative product, it is a 360-degree nap “pillow” and serves several functions at the same time (Studio Banana Things, 2014). It serves as neck scarf ensuring that the user’s neck does not become stiff. Another innovation incorporated in the product is that it blindfolds a user. This allows the user effectively make use of the few minutes of nap. Ostrich pillow is made up of flexible fabric and filled with micro balls giving the user maximum comfort (Studio Banana Things, 2014). Anywhere or anytime nap can translates into having a nap at a very noisy place, as a result, the design team used silicon coated micro-beads that lock the noise out and lets the user have a peaceful nap. Finally, the product comes with two openings where one can place his or her hands while sleeping. Therefore, Ostrich Pillow is not only an entrepreneur product aiming to help users have a good nap, but a product that incorporates modern design to create a napping micro environment (Studio Banana Things, 2014).

A consensus among many entrepreneurs is that coming up with an idea is always the hardest part. However, with a clear mind and ability to observe the surrounding and identifying needs and gaps will be the basis of any entrepreneurial adventure. For the team at Studio Banana, coming up with Ostrich Pillow was based on an observation that most people do not get enough sleep because of increasing financial demands. The team noted that taking a nap was the only way that most people try to compensate lack of enough sleep. Finally, Studio Banana realized that most of other companies attempting to address this challenge was to force people remain awake by pumping more and more caffeine into their bodies. Ostrich Pillow was thus developed as a dream come true product for people to sleep at any time and everywhere (Studio Banana Things, 2014). According to the team, this was the only good way to help people maintain a healthy lifestyle instead of straining to remain awake.

Question Two

The biggest nightmare for many business or entrepreneurs is successfully funding their projects. Studio Banana is an international and a multidisciplinary company founded on the premise of delivering unique products. Consequently, the company dedicates a lot of resources into research (Studio Banana Things, 2014). Therefore, a strong and consistent source of funding is essential for the company. As an already established company, Studio Banana has several sources of funding to rump it up to profitability. Studio Banana was established as a department at Kawamura-ganjavian in 2006. Kawamura-ganjavian has implemented several successful products across the world giving it a robust financial base. Studio Banana was established as a platform hosting over forty professionals in different creative disciplines. One source that funded the product was through reinvesting profits. Once a company starts generating profit, it can either decide to give back the profit to the company owners-shareholders or reinvest the profits into new innovative products. For the founders at the company, creation of a Studio Department was considered to be a brilliant idea.

True to the founder’s decision, Studio Banana has continued to produce innovative products. As a source of funding, the founders were able to avoid a financial debt. According to the founders, this was a smart move because it did not threaten the financial health of the company.

A second and perhaps the most interesting funding for the product used by the founders was the Kickstarter campaign. In the campaign the designers aimed at raising $70, 000 so as to come up with the innovative product (Mashable, 2013).Fundraising in an important aspect of any company and for the team behind the product or the company, fundraising for the Ostrich Pillow aimed at helping the company gauge public support and at the same time deliver a product driven by customer demands. In the fund raiser, the founders gave customers a chance to be part of a product that they had promised to revolutionize napping. The fundraising consisted of several phases. The first step was meeting with investors at the company and notifying them of the impeding activity.

Question Three

Branding is an important for any company or product. A brand name can give a product a competitive edge in the market. Branding cuts across both small and big corporates. For the team behind Ostrich Pillow, they were able to establish the connection between the company and the strong branding of the product. Soon after being launched, the product became a topic of discussion in major Television Shows and on social media. One of the main method used by the developers to develop Ostrich Pillow as a brand was through the use of Kickstarter. Kickstarter is an established and world leading funding platform for creative and innovative product.

At Kickstarter, an entrepreneur is quickly able to establish if his idea or product is acceptable. It acts as a public “barometer” because people give their opinion once the product is posted online (Inc.com, 2014).

After Studio Banana submitted their product, Ostrich Pillow received wide support from the customer. In addition customers were able to ask pertinent questions about the product. In 2011, Studio Banana come with what many considered as an oddly-shaped oversize sleeping pillow covering a user’s entire head. A series of question were thus sent to developers in Madrid and this only gave the founders a signal that customer were getting interested on the product. According to Ali Ganjavian-Banana Studio, co-founder, said that Ostrich Pillow got funding through Kickstarter because customer really wanted the product. According to Ali, seeking funding through the site was a great way to create awareness of a coming product. (Inc.com, 2014)

Creating a brand name can lead to higher sales of a product or a service. Ostrich Pillow brand name was thus created in a series of steps; the first step was the founders defining their brand or product. As discussed above, Studio Banana started by posing the product to the customers even before embarking on manufacturing. The founders thus pinpointed the space in the market and collected customers concerns. The outcome was that by the time Ostrich Pillow was released, it came out as a complete and flawless product.

Venture Founders at Studio Banana developed a brand name by considering Ostrich pillow as a person. All human beings have beliefs, purpose and values. Envisioning ostrich pillow as a person, the founders developed a product whose main purpose was to offer users a comfortable nap at any place irrespective of time. Although the product, because some strain on a user’s back, they believed that the product was a long term solution to something that other companies had failed to deliver. Ostrich Pillow thus became a renowned product.

Social media is another method used by the founders to create a brand name for Studio Banana. As internet continues to cover even the most remote part of the world, the founders ensured that their product was felt in the web. No single business will flourish in the current market without an online presence, the company encouraged and continues to encourage customer to share their experiences. On their social pages such as Facebook, the company requests customers from all over the world to share their pictures while using Ostrich pillow. In addition the name “ostrich Pillow” is very unique. Differentiation was thus another strategy used by the founders to enhance the brand name. A unique name champions a company by giving it a special platform in communicating to customers. Adding the word “ostrich” made the company become different from others in the market. A common understanding has long been established that ubiquity with a product name makes it hard for customers to differentiate products in the market (Blackcoffee.com, 2014).

Coming up with an oddly-looking pillow was also a branding strategy used by the founders. Studio Banana is a company aiming to develop unique products that have the capability to catch customer’s attention. The unique design of the product made sure that it stood out from the rest of competing products.

The drive behind the business was another important factor that founders at the company considered in detail. The main drive that made the founders develop ostrich was to ensure people have a nap regardless of the environment. It is almost a fact that everyone loves sleeping. And since it is not yet established the human sleeping pattern, taking a comfortable nap whenever possible became the greatest drive for coming up with the product. A product that truly satisfies a need in the market will emerge to be a brand name. Coupled with other qualities such as high quality materials and unique design, the Ostrich Pillow thus becomes a brand name.

Endorsement and advertisement by major news channel such as CNBC and ABC ensured that Ostrich Pillow become a brand name not only in America but also in Europe and Australia. In an article published by CNBC, the renowned news channel reported that napping is now just like sleeping on your comfortable bed because one can comfortably sleep on the work desk. The site proceeded to say that NASA and NBA highly recommend napping because it improves productivity, boost the brainpower, assist in weight loss and most shockingly, enhance a person’s libido (Perman, 2012). Offering solutions to these historical problems among people only meant that the product would become the next big thing. And true to the founders’ vision, the Ostrich Pillow has become a brand name.

In conclusion, Napping has been indicated as an important aspect of humans’ daily lives. Traditionally, other companies forced people to remain awake by taking more and more caffeine. However, Studio Banana realized this is inappropriate because people should be given a chance to nap anywhere and at any time. As a result, the company came up with an innovative new product called Ostrich Pillow.as an innovative product, Ostrich Pillow allows users to nap more comfortably by creating a micro-environment.

It has several innovative aspects such as being a 360-degree nap “pillow”, serves as neck scarf making sure that a user’s neck is not stained, and that it blindfolds a user to ensure sleeping occurs within the shortest time possible. In addition the product is flexible with two openings at the top where one can place his or her hands while sleeping. Although there are several sources of funding to start and run a business, Studio Banana reinvested accumulated profits and conducted a fund raiser on the internet. This was very advantageous as there were no debts. Finally, founders of the Ostrich Pillow realized the need for establishing themselves as a brand. The entrepreneurs thus came up with several strategies to ensure that their product not only fulfilled a need in the market, but also become a renowned product.

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