Clocky
ANSWER 1.
For justifying recommendations with respect to target market segment(s) and positioning option(s) for CLOCKY, I analyze the following:
Target market segment(s) 1. CLOCKY should be targeted towards the gift (fun-based) segment based on my analysis.
Exhibit 8 of the case shows that the older the customer, the more inclined he/she was to purchase CLOCKY as a gift for someone else. Younger customers were more interested to purchase a CLOCKY for themselves.
Exhibit 8 also shows that the maximum number of counts responding to CLOCKY’s interest to purchase was in the 26-35 age group, and 26.7% considered to buy this as a gift. This segment overlapped with the 25-34 year olds who were used to hit the snooze button maximum (57% of them hitting daily) compared to the fastest risers, as mentioned in the case. This segment of people was likely to be the fastest switchers.
Exhibit 8 also shows a steady number (896+557) = 1453 counts aged 46 and over with about 63% of intent to purchase a CLOCKY as a gift. These people were likely to be less switchers and could be leveraged upon CLOCKY’s target segment to translate their decision into purchase.
To the higher aged persons, CLOCKY is more like Know-Feel-Do (Utilitarian Instrumental Product and buying decision process). Price is a trade-off variable here to them. Here, consumer satisfaction is actually expectation confirmation – and the loyalty is reward for performance relative to competitors. The relationship with CLOCKY is repeat, word-of-mouth, premium. Nanda can greatly leverage upon this relationship to increase CLOCKY’s business while targeting the right segment of people (aged above 45).
CLOCKY can also appeal to Feel-Do-Know (Expressive Product and buying decision process), where it is bought of liking and impulse. Price is also a secondary concern here. Here, consumer satisfaction is actually “brand image self congruity” – and the loyalty is “affective commitment”. The relationship with CLOCKY is
For justifying recommendations with respect to target market segment(s) and positioning option(s) for CLOCKY, I analyze the following:
Target market segment(s) 1. CLOCKY should be targeted towards the gift (fun-based) segment based on my analysis.
Exhibit 8 of the case shows that the older the customer, the more inclined he/she was to purchase CLOCKY as a gift for someone else. Younger customers were more interested to purchase a CLOCKY for themselves.
Exhibit 8 also shows that the maximum number of counts responding to CLOCKY’s interest to purchase was in the 26-35 age group, and 26.7% considered to buy this as a gift. This segment overlapped with the 25-34 year olds who were used to hit the snooze button maximum (57% of them hitting daily) compared to the fastest risers, as mentioned in the case. This segment of people was likely to be the fastest switchers.
Exhibit 8 also shows a steady number (896+557) = 1453 counts aged 46 and over with about 63% of intent to purchase a CLOCKY as a gift. These people were likely to be less switchers and could be leveraged upon CLOCKY’s target segment to translate their decision into purchase.
To the higher aged persons, CLOCKY is more like Know-Feel-Do (Utilitarian Instrumental Product and buying decision process). Price is a trade-off variable here to them. Here, consumer satisfaction is actually expectation confirmation – and the loyalty is reward for performance relative to competitors. The relationship with CLOCKY is repeat, word-of-mouth, premium. Nanda can greatly leverage upon this relationship to increase CLOCKY’s business while targeting the right segment of people (aged above 45).
CLOCKY can also appeal to Feel-Do-Know (Expressive Product and buying decision process), where it is bought of liking and impulse. Price is also a secondary concern here. Here, consumer satisfaction is actually “brand image self congruity” – and the loyalty is “affective commitment”. The relationship with CLOCKY is