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existing products
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potential market
According to appleinsider.com 17.4 million Iphone 7's were sold globally in the first quarter of 2017. In our survey 33.7 percent of the 250 responses said that they would like to see the problem of keeping valuables in your phone safe. We then multiplied 33.7% X 17.4 million to get 5,863,800 as our potential market share.
summary
I found out that there are a lot of potential products like ours but they are not that well thought out. All of these products have holders for your money and credit cards, however, anybody can easily swipe your phone and steal all of your information and cash. Our product is going to have a lock safe on the back that you open through an app on your phone so the robbers are less inclined to steal your phone since they can't get all of your information and money. I think that this could definitely hit the market if we had the opportunity to because its a problem that a lot of people have.