Most of these accidents happen due to the fact that the cord is in the wrong place at the wrong time causing many accidents to occur. 2. There are over a million households to target as an iron is a necessity in every household and is used every day by tallest one person in the house. 3. The benefit of this item to the customer is safety no longer would they have to be worried about leaving the iron plugged in which may burn down their home or have some one trip over the cord which in turn may injured the person and even iron.
The customer also gets value for their money as the product may last even longer than the traditional irons. It is also more user friendly as no cords means no restrictions while ironing. 4. Currently there are 3 companies in this market and the market is growing steadily. 5. Seeing that the target market is so vast and we are providing something every household uses once we establish ourselves as the leading manufacturer of the product the profit can be limitless as there is always going to be a need for the product .