Clocky Marketing Analysis
Introduction
In 2005 Gauri Nanda, supported by neuroscience research that demonstrated the depth of the average American’s sleep deficiency problem, created significant media buzz with the prototype of her revolutionary alarm clock “Clocky”. Unsure of how to position a product that had a growing following but was still over a year away from production, Nanda was faced with a number of difficult decisions as she attempted to devise a marketing plan to bring her Clocky project to fruition. The following is our analysis of her situation, and suggestions on how she should proceed.
Question 1
Using a SWOT analysis we are able to define the success factors that will influence Clocky’s future launch on the market by identifying the potential threats that Nanda is facing as well as weaknesses inherent in her business model thus far. Placing these weaknesses and threats in the context of her current situation (considering all financial and time constraints as well as the considerable media exposure she has received), we would prioritize her marketing challenges as follows, in order of cruciality:
1) Slow time to market: Nanda must address the time frame of her launch immediately, in order to ensure that she is able to exploit the potential of holiday sales to the fullest, especially considering Clocky has a high potential as a gift item.
2) Difficulty communicating product attributes/image: this challenge relates directly to Nanda’s choice of distribution channels, as the channels she chooses will impact the way in which the Clocky brand is perceived immensely. If she addresses this communication properly, the “fad” threat will be diminished significantly as well
3) Need to recoup start-up costs: this challenge will be addressed by careful pricing and distribution choices, to ensure that she is able to get the volume of sales she needs, as well as the profit margin per unit
4) Short product life-cycle: the nature of her technological product dictates that
In 2005 Gauri Nanda, supported by neuroscience research that demonstrated the depth of the average American’s sleep deficiency problem, created significant media buzz with the prototype of her revolutionary alarm clock “Clocky”. Unsure of how to position a product that had a growing following but was still over a year away from production, Nanda was faced with a number of difficult decisions as she attempted to devise a marketing plan to bring her Clocky project to fruition. The following is our analysis of her situation, and suggestions on how she should proceed.
Question 1
Using a SWOT analysis we are able to define the success factors that will influence Clocky’s future launch on the market by identifying the potential threats that Nanda is facing as well as weaknesses inherent in her business model thus far. Placing these weaknesses and threats in the context of her current situation (considering all financial and time constraints as well as the considerable media exposure she has received), we would prioritize her marketing challenges as follows, in order of cruciality:
1) Slow time to market: Nanda must address the time frame of her launch immediately, in order to ensure that she is able to exploit the potential of holiday sales to the fullest, especially considering Clocky has a high potential as a gift item.
2) Difficulty communicating product attributes/image: this challenge relates directly to Nanda’s choice of distribution channels, as the channels she chooses will impact the way in which the Clocky brand is perceived immensely. If she addresses this communication properly, the “fad” threat will be diminished significantly as well
3) Need to recoup start-up costs: this challenge will be addressed by careful pricing and distribution choices, to ensure that she is able to get the volume of sales she needs, as well as the profit margin per unit
4) Short product life-cycle: the nature of her technological product dictates that