1) The ULTIjack is a product designed to fulfill the purpose that most jackets and long sleeve sports wear does not do successfully. People who frequently spend their time outdoors are potential customers of my product. Whether these people are walking, playing a sport, exercising, hiking or traveling, the ULTIjack is guaranteed to keep you insulated when it is cold and cool when it is hot. Anywhere is the world, anytime of the year, anytime of the day, the ULTIjack can perform successfully. Instead of layering up endlessly, one can simply use this jacket and it reaches the same measure as a north face jacket over two long sleeve shirts and a scarf. This jacket not only provides a safe layer but an extra layer when needed. Customers are currently using the only thing close to the ULTIjack, which goes for a whopping $350, that does not entirely meet the need of the people looking for something o that sort. The opportunity for the ULTIjack is very big considering there is nothing like it in the market. This window of opportunity will be open until someone acts before I do and creates and produces their own version of the ULTIjack. I chose something very intricately built and also very useful and needed by society. This jacket can replace the multiple layers of clothing most people load on to keep themselves warm and remove frequently every time they enter a room that has the heat on high. It is a never ending cycle of putting on and taking off for the long winter months. The ULTIjack will use automatic sensors made from electron powered electrolytic cells, which are rechargeable, to determine the weather it is exposed to. That process will trigger the cooling or heating systems made from 70% alcohol based solution to deliver heat or cool temperatures throughout the jacket. I will make money by selling the jacket at an affordable price so anyone anywhere can purchase my product. Ranging form $70-$100 to cover cost of production and release. The ULTIjack will put an end to the days where one had to buy sweaters, jackets, coats, parkas, long-sleeved shirt, etc. My product will come to the rescue during the days one does not know what to wear. The ULTIjack is something simple and useful that will fulfill the need of everyone. My business will be organized according to the success of my product. I will be based on supply and demand. I will have producers, manufacturers, promoters, advisors and overseers. There is no worry I have towards this venture concept except the possibility of someone else acting faster than I do and creating their own ULTIjack and selling it in the market.
2) The summary i received helped me direct my venture concept towards the right direction. I received a lot of positive feedback from my peers which was refreshing because i have had to make is many corrections and alterations to my product based on all my feedback. The weight was especially crucial. I was asked so many questions concerning the weight of my product and all i can say is it will be a standard weight. It is a jacket so i don't want to overdo it.
3) I didn't change my venture concept. Everything anyone needs to know about my product is described in the venture concept.
Cristal, good work with this final version of your concept. I would still suggest restructuring the format of the assignment to help readers easily identify what portion of your concept they are reading. Also, you did say the jacket would be a "standard weight", but of what type of jacket. There are many types of jackets and some weigh much more than others on average. Try to identify what your product will be most like by giving an example, even if you don't know the exact weight.
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