Clocky

What are the key trade challenges facing Gauri Nanda and how would you prioritize them? 1) Timing Clocky got a lot of media solicitude approximately a year earlier from commercialization. The publicize it is having might have a negative and positive affect towards when in truth Gauri introduce the point of intersection to the market. The questions raised was Would consumers interested in buying Clocky directly be frustrated once they learned that the intersection was non but commercially available, or would they be content to wait until Clocky reached the market? 2) head marketGauri have to decide whether to focus on Fun or remove target segment. This is a critical step in the development as it entrusting be difficult to change perception of a crop once it collects a certain reputation. 3) Production partnership Gauri have to get ahead a termination whether to partner with a large- shield retailer (Wal-Mart) or to pursue co-branding opportunities with a result deve lopment outfit ( iRobot). Both slipway offer its up and down sides. With a large descale retailer, Gauri face the risk of the harvesting becoming a furor, like Tickle-Me-Elmo.On the ahead of time(a) hand, pursuing co-brading opportunities, she might have less control over the convergence invention. 4) Pricing Gauri have to decide the price for the product. This also will delimitate the product strategy adopted. Selling to Wal Mart allows Gauri to cash in early but sacrificing the long term potential of the product. Whereas selling to a stop number class store allows Gauri to build brand image but it whitethorn take longer time to generate enough profit to find back the investment. Gauri needs to tackle the challenges from 1 to 4.I feel that the early media attention issue need to be taken care of first and ground sure it does non negatively affected the commercialization of the product. Secondly, Gauri needs to repair the target segment which will lead to production p artnership finis and ultimately pricing. How would you segment the market for Clocky and on which target market segment(s) should Nanda focus. exempt the value proposition for each? In the article it is mentioned that Clockys node can be put into two camps necessity and Fun market. ) inquire market The main client would be people who found acquire out of bed is a serious challenge and disrupted their spiritedness in significant ways, such(prenominal) as frequently making them recently for work. I feel like Clocky will be a conquest in this market as it will be seen a dissolver for those people. In addition to that, the market is soon untapped and Gauri will fuck first moving advantage. The downside is that the market is not as big as the separate segment. Although the probability of advantage is high, the financial elevate might not be significant. ) Fun market The customer would be people who shortly use an affright clock. I can see that Clocky will be marketed not a base but as alternative to custom outrage clock that has more advance feature. This way there is a risk that the product will be seen as a religious cult product just like Furby. However, the market is huge and financial pass on is significant if the product is a success. Personally I feel the outgo strategy is for Gauri to focus on short term financial pass water and focus on the pleasure market.There is a big chance that the product might have a short conduct, like furby but Gauri would be able to gain a significant financial gain in a short period of time. The need market is not genuinely attractive to me because of the size of the market. Based on what you believe to be the or so feasible/ closely valuable positioning, what are the key components of a selling launch plan including product mark/features, pricing, retail channels and dispersion plan, manufacturing location, and marketing communications. My goal with this product would be to generate as often profi t as possible in the shortest amount of time.I do not think building a brand and spend years on this product is worth the effort from financial perspective. With this in mind, the strategy that I would adopt is a short term strategy that will increase short term profit. The segment I would be targeting is the Fun market. I would market Clocky as an advanced misgiving clock that is innovative and recreation to have. The feature would be kept at the minimal (moving alert clock) and the physical body would be as describe in the case lighthearted features, such as his furry exterior and playful nature, depicting him almost as a robotic household pet. I would form a partnership with conduct and use them as the main dispersion channel. The pricing would be pitch a low point around $30 (considering that customal alarm clock sold around $15). With pits mark up around 144%, the retail price would be $40. The manufacturing location will be in China as it offers the lowest cost of man ufacturing. presumptuous the cost of goods is $15, this will offer 100% margin. The media communication used would be TV and magazine advertisement. The advertisement is catered toward general audience that buy alarm clock.ClockyWhat are the key marketing challenges facing Gauri Nanda and how would you prioritize them? 1) Timing Clocky got a lot of media attention approximately a year early from commercialization. The hack it is having might have a negative and positive affect towards when actually Gauri introduce the product to the market. The questions raised was Would consumers interested in buying Clocky now be frustrated once they learned that the product was not soon enough commercially available, or would they be content to wait until Clocky reached the market? 2) bum marketGauri have to decide whether to focus on Fun or indispensability target segment. This is a critical step in the development as it will be difficult to change perception of a product once it gains a c ertain reputation. 3) Production partnership Gauri have to thrust a decision whether to partner with a large-scale retailer (Wal-Mart) or to pursue co-branding opportunities with a product development outfit ( iRobot). Both ways offer its up and down sides. With a large scale retailer, Gauri face the risk of the product becoming a fad, like Tickle-Me-Elmo.On the other hand, pursuing co-brading opportunities, she might have less control over the product invention. 4) Pricing Gauri have to decide the price for the product. This also will jog the product strategy adopted. Selling to Wal Mart allows Gauri to cash in early but sacrificing the long term potential of the product. Whereas selling to a top(prenominal) class store allows Gauri to build brand image but it may take longer time to generate enough profit to recompense back the investment. Gauri needs to tackle the challenges from 1 to 4.I feel that the early media attention issue need to be taken care of first and discharge sure it does not negatively affected the commercialization of the product. Secondly, Gauri needs to attend the target segment which will lead to production partnership decision and ultimately pricing. How would you segment the market for Clocky and on which target market segment(s) should Nanda focus. explicate the value proposition for each? In the article it is mentioned that Clockys customer can be put into two camps Need and Fun market. ) Need market The main customer would be people who found acquire out of bed is a serious challenge and disrupted their life in significant ways, such as frequently making them new-fangled for work. I feel like Clocky will be a success in this market as it will be seen a solution for those people. In addition to that, the market is currently untapped and Gauri will screw first moving advantage. The downside is that the market is not as big as the other segment. Although the probability of success is high, the financial gain might not be sig nificant. ) Fun market The customer would be people who currently use an alarm clock. I can see that Clocky will be marketed not a solution but as alternative to tradition alarm clock that has more advance feature. This way there is a risk that the product will be seen as a fad product just like Furby. However, the market is huge and financial gain is significant if the product is a success. Personally I feel the beaver strategy is for Gauri to focus on short term financial gain and focus on the fun market.There is a big chance that the product might have a short life, like furby but Gauri would be able to gain a significant financial gain in a short period of time. The need market is not in truth attractive to me because of the size of the market. Based on what you believe to be the most feasible/most valuable positioning, what are the key components of a marketing launch plan including product design/features, pricing, retail channels and distribution plan, manufacturing location , and marketing communications. My goal with this product would be to generate as oftentimes profit as possible in the shortest amount of time.I do not think building a brand and spend years on this product is worth the effort from financial perspective. With this in mind, the strategy that I would adopt is a short term strategy that will maximize short term profit. The segment I would be targeting is the Fun market. I would market Clocky as an advanced alarm clock that is innovative and fun to have. The feature would be kept at the minimal (moving alarm clock) and the design would be as describe in the case lighthearted features, such as his furry exterior and playful nature, depicting him almost as a robotic household pet. I would form a partnership with Target and use them as the main distribution channel. The pricing would be sit a low point around $30 (considering that traditional alarm clock sold around $15). With Targets mark up around 144%, the retail price would be $40. T he manufacturing location will be in China as it offers the lowest cost of manufacturing. assuming the cost of goods is $15, this will offer 100% margin. The media communication used would be TV and magazine advertisement. The advertisement is catered toward general audience that buy alarm clock.