Ahead of attending Ingenuity KnowledgeXchange – Bringing New Products to Market hosted by Ingenuity – the University of Nottingham’s local business network, I thought I would write a 2-part article on Kavia Moulded Products own projects. Launching a new product or service is a challenge for any business but with higher risks come higher rewards. There is also a major benefit to our customers, as we can further understand what our customers are trying to achieve. Kavia already has a range of rail and tram components dating back to the British Rail days. These are track sleeper mounting system components such as ferrules, bushes and EVA pads. Kavia’s own innovation strategy is to develop a new range of products with the following simple business constraints:
- Business-to-Business sales model to distributors and wholesalers
- Suitable for export, size (quantity/box) and country markets
- Simple problem solving product design
- Known user market
- One or 2-part mechanical design
- Injection moulded of course
- Low innovation investment sector
- Two-product launch with complimentary seasonal sales
- Part of a product range for same sector, two products per year planned
- Capital investment <15% of gross profit
- Accessible user community
The new Kavia Rowing and Sculling Products fit the above criteria and the BLMB Kit, a bracket for mounting bicycle lights to boats is already in production for this winter season and the dark nights and mornings when most rowers and scullers do their hard training for the summer regattas. The second is the 2K bow ball, a new innovative design with a strengthened core to increase user safety and product durability will be on sale in February and look carefully for it on the bows of the Oxford Boat Race crew this March. The ingenuity presentations are divided into two – ‘Best Practices’ and ‘Putting into Practice’ so the second part of this article will report if our practices are aligned and any lessons learnt.
