pect of the public consumer and categorize the product as a necessity and not a luxury. C. Patent issues - A patent search will be done to search for existing patents with similar models. 6.0Schedule and TimelinesThe following paragraphs establish a timeline for the research and development, prototype, limited initial production, and full-scale production and distribution of the SmartWave. Since it is expected that a new start-up company will be formed to produce this product, many of the elements of the timeline are related to the establishment of the business, acquisition of capital, recruitment of a management team, and establishment of business practices. It is the goal of the product development timeline to break down each product phase into small enough tasks that they may be easily managed by the task leaders within each individual section. At the same time, it must be kept general enough to be used by top-level management and investors for the tracking of progress against investment dollars spent.6.1Product ShipmentBased on the product development schedule described in section 3.6, product shipment will begin approximately 6 months after receiving authority and funding to proceed. It is anticipated that, within about six months after initial release of the SmartWave product, competing manufacturers will begin producing similar products. During this six-month window of opportunity, SmartWave, Inc. must establish itself as the dominant producer of smart kitchen products such as the SmartWave oven.6.2Product Life CycleIt is expected that the SmartWave product will undergo several phases with respect to target markets and the marketplace. The first of these occurs immediately upon the introduction of the product to market. In this first phase, the product will be seen as innovative or unique and purchases will be driven by this uniqueness. Next, there will be a desire to purchase SmartWave products in order to remain comp...
