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A presentation for advanced marketing class - Dec 2012

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  1. 1. Advanced Marketing – Case StudyClocky : The Runaway Alarm Clock a presentation
  2. 2. ClockyValue Proposition
  3. 3. • A small project for Industrial Design course inMIT• The device attracted a great deal of attentionafter its description was posted,along with dozens of other student projects, on theMedia Lab Web site• First prototype was demonstrated in GoodMorning America• Gauri Nanda then set-up her own businessNanda Home with the help of her family andMIT• First run of 500 clocks sold out almostimmediately online. Just two years after shestarted, Nanda has sold more than 35,000 Clockyunits• The company broke even two monthsafter its sales. Clocky The Story
  4. 4. 1st snooze alarm clock by GE TelechronFragmented industry with a significant number of playersin the regular and niche alarm clock segmentRevolutionized the old technique and added great valuefor the coming generationIndustry revenue was approximately $713 mio in 2008(US Census data)Bedside alarm clocks – one strong-selling items Industry Outlook facts and figures
  5. 5. • Increasing consumer confidence intechnology as well as economy sentiment• The average American spends $1,200 onelectronics annually• Worldwide clock sales were on target to reach$5.42 billion in 2017• Alarm clock : a low-involvement, low-cost item• 57 percent of 25-to 34-year-olds hit the snoozebutton daily• Short product-life cycle• A great idea is simply unstoppable Market trends and challenges
  6. 6. To introduce new technology and a new level of interaction with the end users. A new creative product launched with optimal price-skimming opportunities Entry Barriers Customer loyalty can discourage potential entrants Large buyers have less power to negotiate because of few close Buyer Power alternatives Supplier Power Better able to pass on supplier price increases to customers Threat of Substitutes Customer’s become attached to differentiation attributes Rivalry Brand loyalty to keep customers from rivals Generic Strategy - Differentiation Idea generation
  7. 7. people want their alarm clock to be a stylish accessory that goes beyondfunctionality Travel Clock Smartphone app Fun specialty Digital AM/FM Radio MP3 compatible Clocky Segmentation
  8. 8. Need market : heavy sleepers Fun market : robotic pet Humanization of technology Clocky : the runaway alarm clock Clocky targeting and positioning
  9. 9. FunctionalitiesDesign - appearances Price Attributes Clocky Blowfly Puzzle Robotic pets - humanized product Works like a blowfly or mosquitos Puzzle made up of four pieces Idea that jump off the nightstand and flying around the room and it firing the them in the air wheel around Size 4. 5.25" L x 3.5" W x 3.5" D 5.51"W x 5.51"D x 3.93"H 7"W x 6"D Battery life 4 AAA batteries; early low battery 4 AA batteries 3 AA batteries Architecture warning Interfaces No extra ports Alarm shut off Sense you are out of bed to find Catch the propeller that was set Solve a simple puzzle mechanism hiding Clocky flying and put it back in the cage Sensory interaction Interacts with hearing and touch senses Materials Plastic, electrical wiring Plastic and metallic-colored fly Plastic Price $39.90 $30 $29.99 Snooze time 0-9 minutes 0 minutes 0 minutes Features Alarm sound Beeps in random pattern & Music Buzzer Sound of the pieces flying away with its additional mp3 features Alarm volume Constant volume Increasing volume Constant volume Sound quality MP3 player sound quality AM/FM radio sound quality AM/FM radio sound quality Consumer review 4 of 5 4 of 5 2 of 5 Competitive environment
  10. 10. Features Buffered by rubber wheels and Computer chip inside the device randomly Impact-resistant design shock absorbing materials programs its route each time the user hits ‘snooze’ Clocky $39 Ticky $49 Tocky $58Red, almond, aqua,chrome, black, raspberry Black, white Collaboration with NPR with the launch of the Tocky® All Songs Considered™ and Tint $8 Tocky® Wait Wait… Dont Tell Me!® Tint limited edition $10 rolling mp3 alarm clock. Aqua, black, white, kiwi, orange Black, kiwi, aqua, Product white, orange and price
  11. 11. Attribution matrix Timer Basic necessity Alarm sound Mp3 quality sound Robust Product quality Cute factor Attracts new customer Emotional Increase product affinity connect Value for Should not be costly moneyFeeble product Should not be weak Speaking For new generation clock Poor functioning Should not be required
  12. 12. Online Strategy Social media marketing Multimedia online demo nandahome.comE-commerce portal Amazon.com Promotion Strategy
  13. 13. Branding & PromotionPackaging, naming, taglines (the runaway alarm clock), photography and video imageryMedia marketing & press release Promotion Strategy
  14. 14. Sales strategyTrade show : to win the hearts of Partnership building : collaborationsnoozers from all over with RED Promotion Strategy
  15. 15. • The choice of distribution channel isessentially related to the image• The important factors to deal with big retailergave Nanda Home credit arrangementfacility which cushions its manufacturing cost• Large retailer like Walmart, Target• Upscale electronic venues like SharperImage, Brookstone• Small designer stores : shop of museum,modern art in NYC• Direct channel like Home shopping network,dedicated portal nandahome.com and e-commerce partners with Amazon Distribution Strategy
  16. 16. • Declining Sales – short product life cycle• Sustaining media interest.• Creating brand loyalty• Upgrade Clocky product line• Threat of Cannibalization – introduction of ‘tech-savvy’ cousin like Tocky Future Challenges