FlexDry portarack / Nuraisyah Fasiha Kamaroulzaman ... [et al.].

Description of the business and product concepts: FalconSynergy Tech introduces the FlexDry PortaRack, a cutting-edge portable clothes dryer designed to revolutionise garment care for travellers. This innovative product concept integrates advanced drying technology into a compact and user-friendly design, offering a practical solution for on-the-go laundry needs. The FlexDry PortaRack presents a promising solution to the growing need for efficient and convenient laundry solutions in modern living spaces, and FalconSynergy Tech is poised to become a well-known technological company with the potential to capture a significant market share. The target market and projections: The target market for the product includes students in dormitories and individuals residing in temporary accommodations, presenting a potential market share of 10% in the first year, with an estimated revenue of RM500,000. The venture's market research projections indicate that the primary customer is students in dormitories or those residing in temporary accommodations who may also find value in a portable dryer that offers flexibility and ease of use. The competitive advantages: The competitive advantages of the FlexDry PortaRack lie in its unparalleled convenience, efficiency, and economic benefits, distinguishing it from competitors in the market. The product's unique selling proposition enhances the overall customer experience and differentiates it from competitors, contributing to its value and market appeal in terms of economic benefits. Competing products in the portable dryer product market have their strengths, but they have fallen short of meeting all consumer needs.