Creative writing in business

Section 1: The Idea

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PURPOSE – What’s our why?

Section 2: The Context

FortyWinkzzz rest systems will be marketed towards a number of industries including: hotels, airports, hospitals and sleep clinics, homes (predominantly targeting the wealthy), schools/universities, workplaces, health clubs, and libraries, to name a few. In the broad sense, FortyWinkzzz will operate in the “sleep-system ensembles” manufacturing segment (a $9.1 billion market across 355 businesses, with 4.4% profit margin and 1.4% projected annual growth over the five-year period 2016-2021), as classified by the 2017 North American Industry Classification System (“NAICS”) code 337910 (U.S. Census Bureau, 2017). It should be noted that this industry segment is very broad and includes beds, mattresses, box springs, and the like (U.S. Census Bureau, 2017). The largest players in this broad segment include Serta International (17.8% market share), Select Comfort Corporation (14.0%), Simmons Bedding Company (10.9%), and Tempur Sealy International Inc. (9.7%) (U.S. Census Bureau, 2017). A more appropriate and narrow segment would be more specific to “sleeping pods” or “nap pods;” however, these are very young industry segments not yet recognized by traditional industry classification systems and, thus, highly-specific information is limited.

While identified as too broad for the purposes of expanding further on industry code 337910, there remain some related takeaways within industry research for the segment. Notably, the report highlights the expectation that “with growing income and improved health consciousness, more consumers are expected to purchase…more expensive products.” (Rivera, 2016) This should correlate to rising demand potential for FortyWinkzzz products as disposable incomes increase. Further, key success factors for the broad industry segment include the following: proximity to key markets given high transportation costs, maintaining a good reputation for quality products, possessing a guaranteed supply of key inputs to help control and predict costs, and access to new and efficient technologies (Rivera, 2016); each of these is identified as key to the success of FortyWinkzzz.

One particular sub-segment of the more ideal classification that has produced a modest amount of literature is the “Airport Sleeping Pods Market.” This particular sub-segment is a global industry, general broken down by further geographic segmentation – Americas, APAC (Asia-Pacific), and EMEA (Europe, the Middle East, and Africa) (Infiniti Research Limited, 2017). Key players in this market segment include: GoSleep, napcabs, SnoozeCube, Minute Suites, 9Hours, JetQuay, and SNOOZE AT MY SPACE (Shirke, 2017); please see Appendices ?-? for individual analysis on these competitors. “The global airport sleeping pods market was valued at USD 55 million in 2016 and is expected to surpass USD 75 million by 2021, says Technavio.” (Technavio, 2017) Confirming this, BusinessWire suggests, “The global airport sleeping pods market (is expected) to grow at a CAGR (cumulative annual growth rate) of 6.39% during the period 2017-2021.” (BusinessWire, 2017) A key factor driving sleeping pods to the global airport market is “growing passenger traffic;” (BusinessWire, 2017). Approximately 46.67% of the world’s busiest airports “provided sleeping pods as of 2016.” (BusinessWire, 2017) The two primary trends supporting projected market growth are: i) the “trend toward capsule hotels for airport passengers” (including napping pods) driven by the motivation of airport operators to “improve the passenger experience” and ii) the “emergence of agile airports” resulting from the aforementioned “growing passenger traffic” (Technavio, 2017). While this is important information for one target market of FortyWinkzzz, specific data about nap/rest/sensory pods is unidentified. It is anticipated that existing competitors with established technologies and reputations will present a degree of barrier to entry into this particular target market, along with high start-up costs expected to include technology/engineering research and development, machinery and equipment (expected to be capital intensive). However, FortyWinkzzz will differentiate itself as an innovative sensory nap/rest concept unlike any that has been identified from existing players.

According to a survey performed by Gallup, an analytics and consulting business, 40% of Americans were getting less than seven hours of sleep, the typical expert-recommended minimum (which ranges from seven to nine hours per night) (Jones, 2013). At the time of the study in 2013, Americans were averaging approximately “6.8 hours of sleep (per) night, down more than an hour from 1942.” (Jones, 2013) Per the author, Jeffrey M. Jones, "Medical studies have related a lack of sleep to health problems and cognitive impairment.” Yet, just 59% of U.S. adults were meeting the expert recommendations and only 56% believe they are getting enough sleep (Jones, 2013). Other takeaways from the survey results include that older Americans get the most amount of sleep, those who are employed get less sleep, those with children under 18 years of age get less sleep, and those with higher annual household incomes get more sleep (Jones, 2013).

There are undoubtedly implications related to social values, norms and trends related to our product offering in Forty Winkzzz. Not getting enough sleep comes at a cost, as previously stated. $300,000.00 in possible medical bills and more than $700,000.00 in net worth. Not getting enough sleep can cheat you out of a possible $8 million in lifetime earning capacity (Caswell, 2012.) It is general knowledge that lack of sleep or rest can cause a decrease in one’s functionality level. In a more technologically complex and health conscious society, indications point to many health benefits from achieving daily & ideal sleep and getting that rest can help individuals contribute more to society in whole. There are many issued patents that can be a development hindrance including, but not limited to an infant sleep pod US9554659 B2, which focuses on a planned future segment of our offerings. What is unique to us will be design and purpose of our rest system. Though we plan on marketing our pods on the higher end for home use, a big portion of our business will be for use of our signature product (the Nap Pod) at airports around the world. In 2015, airline giant, Airbus filed a patent for “sleeping pods” to be included in some of their long-distance traveling aircrafts that might draw some similarities to our concept more so in the descriptive name itself, sleeping pods (CNN, 2015.) So, the legal factors of existing patents on products with similar names and ideas is something that we have acknowledged and thought-out regarding us pursuing our companies vision. We are confident that what we envision is something that is not currently available; However, competitors might try to imply that portions of our ideas might be currently bound by similarly concepted offerings. We seek to offer a more complex experience in short term rest to better anyone’s day. We are looking to enrich our users, so that they will be better prepared to socially engage and maximize their well-being while at the same time preparing them to better the world.

PROCESS

Section 3: The Evaluation

A

RESULT

Arora, P. (2017, April 10). Napcabs. Retrieved May 28, 2017, from sciencefriction: https://medium.com/sciencefriction/napcabs-3ad24f09f0da

BusinessWire. (2017, March 30). Global Airport Sleeping Pods Market 2017-2021. Retrieved May 28, 2017, from BusinessWire: http://www.businesswire.com/news/home/20170330005526/en/Global-Airport-Sleeping-Pods-Market-2017-2021-46.67

Guestina.com. (n.d.). napcabs sleeping cabins, Munich, Germany. Retrieved May 2018, 2017, from Guestina.com: http://guestina.com/germany/munich/hotel/napcabs-sleeping-cabins/271782892846562

Harvard Business Review. (2017, January 1). Why Companies Should Insist That Employees Nap. Retrieved May 28, 2017, from NapCity Americas: http://www.napcityamericas.com/news/harvard-business-review-why-companies-should-insist-that-employees-nap/

Infiniti Research Limited. (2017, February). Global Airport Sleeping Pods Market 2017-2021. Retrieved May 28, 2017, from technavio: https://www.technavio.com/report/global-aerospace-global-airport-sleeping-pods-market-2017-2021?utm_source=PR1&utm_medium=TNSite&utm_campaign=PressRelease

Jones, J. M. (2013, December 19). In U.S., 40% Get Less Than Recommended Amount of Sleep. Retrieved May 28, 2017, from Gallup: http://www.gallup.com/poll/166553/less-recommended-amount-sleep.aspx

Napcabs GmbH. (2015). napcabs-brochure_2015. Retrieved May 28, 2017, from Napcabs: https://www.napcabs.com/resources/napcabs-brochure_2015.pdf

Napcabs GmbH. (2016). Imprint. Retrieved May 28, 2017, from Napcabs: https://www.napcabs.com/imprint.html

Napcabs GmbH. (2016). Index. Retrieved May 28, 2017, from Napcabs: https://www.napcabs.com/index.html

Rivera, E. (2016). Mattress Manufacturing in the US. Los Angeles: IBISWorld. Retrieved May 26, 2017

Shirke, N. (2017). Global Airport Sleeping Pods Market 2017. Retrieved May 28, 2017, from dailyhover: https://dailyhover.com/global-airport-sleeping-pods-market-2017/

Strutner, S. (2015, January 15). 'Napcab' Napping Pods Are The Most Genius Way To Survive The Airport. Retrieved May 28, 2017, from HuffPost: http://www.huffingtonpost.com/2015/01/15/napcabs-airport-nap-pods_n_6456752.html

Technavio. (2017, March 2). Airport Sleeping Pods Market - Trends, Growth Drivers, and Industry Analysis 2017-2021. Retrieved May 28, 2017, from technavio: https://www.technavio.com/pressrelease/airport-sleeping-pods-market-trends-growth-drivers-and-industry-analysis-2017-2021

U.S. Census Bureau. (2017). NAICS Search. Retrieved May 28, 2017, from U.S. Census Bureau: https://www.census.gov/cgi-bin/sssd/naics/naicsrch?code=337910&search=2017 NAICS Search

Caswell, A. (2012, March 06). The Economic Value of a Good Night's Sleep. Retrieved May 29, 2017, from

http://www.mhealthtalk.com/economic-value-of-sleep/

Patent US9554659 - Infant sleep pod. (n.d.). Retrieved May 29, 2017, from

http://www.google.com/patents/US9554659

Airbus files sleeping pods patent. (2015, September 29). Retrieved May 29, 2017, from

http://www.cnn.com/2015/09/29/travel/gallery/airbus-sleeping-pods-patent/index.html

Appendix ? – Napcabs

Business Name: Napcabs GmbH (Napcabs GmbH, 2016)

Location: Munich, Germany (Napcabs GmbH, 2016)

Global: Two current locations – Munich Airport and Berlin-Tegel Airport (Napcabs GmbH, 2016)

Primary Features: Full bed, work table, sound-insulated outer walls, individually-adjustable air conditioning, interior mood lighting with individual settings, workplace lighting, mirror and coat hook, docking station for iPod and MP3 player, blind at the front door window, multimedia touch screen with entertainment options, flight info, alarm clock; power outlet and internet connection (Napcabs GmbH, 2015)

Advantages: Self-operating system, allow airports the profitable usage of a small space, no permanent on-site staff required, easy and quick installation, modern and functional design, higher passenger satisfaction (Napcabs GmbH, 2015); early entrant into the industry segment, established concept

Disadvantages: Target market presently limited to airports; require more space than the FortyWinkzzz concept

Target Market: Airports

Market Share: Unknown (private company)

Pricing: Unknown (owned and operated by the manufacturer; cost to consumers was approx. $12 (USD) to approx. $18 (USD) per hour, with $35 (USD) minimum as of 1/15/2015 (Strutner, 2015)

Promotional Activities: Appears primarily PR

Founders or Key Staff Members: Fabian Friedrich (Managing Director) (Guestina.com)

Resources: Current resources unknown given privately-held. Students developed the idea, prototyping with LEGO®

Image: Provider of “higher comfort to travelling passengers without major investments or business risks (for the airport), instead with an additional income.” (Napcabs GmbH, 2015)

(image from https://www.napcabs.com/resources/napcabs-brochure_2015.pdf)

Culture of the business (norms and values): “creating economic value by turning…chaos into order” (Arora, 2017)

Financial Condition: Unknown (private company)

Appendix ? – MetroNaps

Business Name: MetroNaps

Location: UK (Hoovers)

Global

Primary Features: Ergonomic, Timed Waking, Music, Privacy Visor

Advantages: Comfort, Technology, Design, Custom/Branding available

Disadvantages: Comfort, Technology, and Design can be extended and improved

Target Market: Offices, Hospitals, Schools, Universities, Fitness Centers, Hotels

Market Share: ?

Pricing: $13,000.00 per pod (American Lawyer)

Promotional Activities: Ability to rent for trade shows/events to attract visitors to your booth and Website

Founders or Key Staff Members: Arshad Chowdhury and Christopher Lindholst, Co-founders (Hoovers)

Culture of the business (norms and values): Focus on “Fatigue Management” (Hoovers)

Financial Condition: Private Company

Sources:

• American Lawyer http://www.americanlawyer.com/id=1202786349002/Napping-Pods-One-Firms-Solution-for-Tired-Lawyers?slreturn=20170425185344

• Hoovers http://www.hoovers.com/company-information/cs/company-profile.MetroNaps_%28UK%29_Ltd.569632567703c24f.html

• Metronaps.com

Appendix ? – GoSleep

Business Name: GoSleep (GoSleep, 2017)

Location: Finland (GoSleep, 2017)

Global: Airports- Helinski-Abu Dhabi- Peking- Tokyo- Los Angeles- London (GoSleep, 2017)

Primary Features: (GoSleep, 2017)

• Fully automatic reclining seat to lie-flat option.

• Hand Baggage storage space (underneath the seat).

• Multimedia touch screen console (flight info, alarm clock, payment/entertainment option).

• Sound absorption, breathable privacy shade.

• Universal recharging points, docking station for Ipod/Mp3 player.

• Wireless internet via Broadband (optional).

• Comforms to the latest CE guidelines, health and safety regulations.

Advantages: Self-operating system, hand luggage can be stored safely under the seat during use, and a moveable, breathing shade hides the passengers from the noise and the light. (GoSleep, 2017)

Disadvantages: Target market presently limited to airports; require more space than the FortyWinkzzz concept

Target Market: Airports

Market Share: Unknown

Pricing: (GoSleep, 2017)

Promotional Activities: Appears primarily PR

Founders or Key Staff Members: Jussi Piispanen (Founder/CEO) (Sillers, 2016)

Culture of the business (norms and values): To enhance and optimize the wellness and wellbeing of each and every traveler by providing a unique and innovative rest and relaxation solution. (GoSleep, 2017)

Image:

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