Previous Patents
Existing Products
Potential Market
- 327.2 million people in United States
- 77 million people in the United States camp occasionally each year. https://www.forbes.com/sites/monicahoughton/2018/04/16/why-camping-is-rising-in-popularity-especially-among-millennials/#4bf034a216c0
- 32 million people attend music festivals in the United States each year. https://www.washingtonpost.com/posteverything/wp/2017/04/17/are-there-too-many-music-festivals/
- 23.5% of people go camping annually in the United States.
- 9.7% of people attend music festivals each year in the United States.
- Since there is one other company selling a product that is competitive with our market, our market share would be 50% of the total market.
- The total potential market would be slightly bigger than 77 million people. This is because we can count all the people who go camping as potential consumers and would also add some of the people who attend music festivals. We calculated this because people who attend music festivals and go camping may overlap so we didn't want to count everyone. After taking into account our market share and the total number of potential consumers we concluded that our potential market would be slightly larger than 38.5 million people
Individual Summary
To find previous patents, we found Google Patents to be the most user friendly, so we got all 3 of them from there. The existing products were all found from Amazon. The Road Shower product that we found was very similar to what we had envisioned. Also, it seemed to be the only product on the market attempting to solve the problem that we had, leaving us with a 50% potential market share.