Clocky Plan
Description:
Gauri Nanda is the creator of an innovative new product: an alarm clock named Clocky that, in addition to ringing, rolls around the room in order to force its owner to get out of bed. Beset by media attention and consumer interest but still at least a year away from the ability to debut Clocky, Nanda must navigate a series of challenges and difficult decisions in order to effectively bring her product to market. These include positioning strategies, choosing the proper channel, potential partnerships, manufacturing issues, market analysis, and PR management.
Learning Objective:
To explore the challenges of positioning a new product with emotional and functional benefits and that has received substantial media attention.
Subjects Covered:
Innovation, Market segmentation, Marketing plans, Positioning, Product development, Public relations.
1. What challenges do you anticipate Clocky's management will have in securing a successful launch into the marketplace?
Marketing
Distribution Strategy:
2. What marketing actions would you take to maximize Clocky's adoption?
3. What would constitute commercial success for an innovation like this one year after launch? Five years after launch?
One yr – yes
Five yrs – No
4. 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
Marketing Objective :
To position Clocky as a niche innovative product
Segments:
1. Sleep Disorders
2. Fun Users
Positioning:
Frame of Reference: Clocks/ Robotic products
POD:
Very innovative, no other product can offer (Patented technology)
Different random tunes
POP: Accurate time
Benefits of the product : Active Day every day – Never late to office.
Target – Focussed on both the markets
1. Basic product – focused on people with sleep issues, for
Gauri Nanda is the creator of an innovative new product: an alarm clock named Clocky that, in addition to ringing, rolls around the room in order to force its owner to get out of bed. Beset by media attention and consumer interest but still at least a year away from the ability to debut Clocky, Nanda must navigate a series of challenges and difficult decisions in order to effectively bring her product to market. These include positioning strategies, choosing the proper channel, potential partnerships, manufacturing issues, market analysis, and PR management.
Learning Objective:
To explore the challenges of positioning a new product with emotional and functional benefits and that has received substantial media attention.
Subjects Covered:
Innovation, Market segmentation, Marketing plans, Positioning, Product development, Public relations.
1. What challenges do you anticipate Clocky's management will have in securing a successful launch into the marketplace?
Marketing
Distribution Strategy:
2. What marketing actions would you take to maximize Clocky's adoption?
3. What would constitute commercial success for an innovation like this one year after launch? Five years after launch?
One yr – yes
Five yrs – No
4. 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
Marketing Objective :
To position Clocky as a niche innovative product
Segments:
1. Sleep Disorders
2. Fun Users
Positioning:
Frame of Reference: Clocks/ Robotic products
POD:
Very innovative, no other product can offer (Patented technology)
Different random tunes
POP: Accurate time
Benefits of the product : Active Day every day – Never late to office.
Target – Focussed on both the markets
1. Basic product – focused on people with sleep issues, for