Innovating in Established Markets: Candy Buckets

October 23, 2008

by joseph.young.2009

With Halloween around the corner, I thought I’d treat our readers to a new segment. I get really excited about innovation. I guess that’s why I work in the technology sector. But innovation is more than Web 2.0 and Software-as-a-Service. It’s about finding a solution to a problem, new or old. It’s always amazing to see products stand out in established markets where people believe there’s no more room for growth because one company has significant market share. It’s partially an underdog mentality, but also the belief that you can do better than what’s out there. I think that’s one of the biggest takeaways from the New Product Development course at Rady.

While shopping for halloween costumes, I came across the candy buckets that kids usually tote around to each house, holding their treasures. Growing up, these things were pretty basic. An orange plastic bowl with a black strap. I was pleasantly surprised to see that someone improved upon the old design. The pain with the old products were their lack of sturdiness, as well as the difficulty in emptying out the candy at the end of the night. The solution? A more durable bucket with an upsidedown hing to pour the candy out the bottom. Brilliant! The photos below show a new Elmo candy bucket that conveniently opens at the bottom.

Happy Halloween!

SuperSaiYoung@flickrSource: SuperSaiYoung@flickr

SuperSaiYoung@flickr

Source: SuperSaiYoung@flickr

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