Автор: Пользователь скрыл имя, 12 Января 2011 в 01:25, курсовая работа
Market segmentation implies split of the market into relatively homogeneous parts with similar characteristics and inherent customer behavior patterns. According to the case Nanda has identified two segments – “Need” and “Fun”. I would also point out one more segment - the corporate clients (“Corporations”), who could buy Clocky as a gift for their employees
Question I. How would you segment the potential market for Clocky? Are ther additional segments other than the “Need” and “Fan” target markets outlined in the case? On which target market segment should Nanda focus? Why? ……………………..
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Question II. Which of the positioning options are the most feasible given the product development of Clocky to date and Nanda’s goals, resources, and capabilities? Explain your answer. Do you see the positioning of Clocky changing over time? Which of the positioning options are the most valuable to Nanda given her aspirations as an entrepreneur? ……………………………………………………………………………...
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Question III. Given your chosen positioning for Clocky, recommend the key components of a marketing launch plan for Clocky. Include recommendations on Clocky’s product design/features and manufacturing location, pricing, retail channels and distridution plan, and marketing communications. Be sure that your lanch plan recognizes Nanda’s budgetary constraints. ……………………………………………….
Comparison with competitors in terms of products’ value for the customers (chart 3and table 3 in Appendix).
I think that Wal-Mart and the similar stores doesn’t fit the Clocky’s positioning. It shouldn’t be the product which is being sold on a large scale in the department stores as in this case it loses its individuality, and intimacy. Besides, Nanda wants to have the flexibility of changing Clocky’s design and functionality in the future. Selling Clocky via big retail chains will limit Nanda’s control over her product.
I also don’t like the approach of selling Clocky through the Home Shopping Network, since the reputation of this channel is as of the place there not the best products are being sold (like those miracle pills) and there promotion sometimes could be unfair. That is rather suitable for Push approach of selling products which require much for efforts to convince people that they need them than Clocky does.
The most appropriate retail channels for Clocky:
Main retail channel should be internet stores because:
Also, as the case of Sony’s AIBO showed even sales only via Internet represent a good business model for such products.
Secondary retail channel is needed for target audience aged above 45.
In terms of promotion I’d prefer to rely mostly on word of mouth, in particular in the Internet. I would limit advertisement to the Net, and invest some efforts to maintain the interest to Clocky and Nanda personally in the media. It’s vital to receive the next wave of publicity of the theme just before the launch. Was it truth, all the rest is supplemental – the launch would be successful, and the main challenge would be to make the product presence on the market sustainable.
I suppose that the suggested marketing plan is feasible under the Nanda’s budget constraints.
Appendix
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Opportunities
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Threats
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| Strengths
1. Entrepreneurial approach of founder 2. Potential low cost, high quality 3. Break through status (product new and unique) |
Nanda needs to leverage the market awareness, including attitude towards herself personally as embodiment of American Dream, sympathy and interest to her. She needs to launch the product as soon as she can, without losing any moments. From my point of view, the period of sustainable interest to Clocky and eagerness to buy after big bustle will last approximately 3-6 month. | Using personalized
approach, with accent on the evident benefits of Clocky but not only
that it’s unique and fun , could allow to avoid falling into fad status.
It shouldn’t become mass very cheap product being bought due to fashion
even without any need.
To fight with knockoffs Nanda has to be ready to update product after launch the original version (launch of Clocky 2.0). |
| Weaknesses
1. Idea is not strongly protected; the technology could be duplicated 2. Lack of experience and resources (start up from scratch) 3. Timing (the product is underdeveloped, requires one year to complete its creation) |
New competitors could appear with unlimited resources that could allow them to overinvest Nanda and squeeze her out of market. But wise strategy of exploiting the current market attitude to Clocky and its creator and the position of pioneer should allow to protect the future sustainable development. | The competitors could become the first with the launch of the product with the similar characteristics and for the same market segment, because the idea is spread widely but Nanda is not ready for the launch. |
Table 2. SWOT Analysis
Table 3.
| Puzzle Alarm Clock | SleepSmart | Conventional Alarm Clock | Robotic Pet Products (Hasbro’s Poo-Chi, Sega’s iDog) | Clocky | |
| Price | $50 | $200-$300 | Wide range; with the same options and traits from $10 to $30 | $30-$50 | ??? |
| Functions | Alarm clock | Alarm Clock | Alarm Clock | Toy, Robotic pet | Alarm Clock with the traits of robotic pet |
| Complexity and convenience | Medium | High | Low | N.a. | Low |
| Design function | Low | High (could be highly customized to interior) | Moderate | Moderate | |
| Efficiency as an alarm clock | Moderate (relatively to SleepSmart) | High | Low | N.a. | Moderate (relatively to SleepSmart) |
Chart 3