Clocky Marketing Analysis
4935 words 20 pagesIntroduction
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.
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 …show more content…
- FUN MARKET: composed of people who might see Clocky as an amusing appliance, a nice robotic household pet.
We essentially agree with Nanda’s segmentation criteria based on the needs and benefits sought by customers and it fits with the key criteria for an effective segmentation :
- Measurability: size, purchasing power and characteristics of the segments can be measured
- Substantial: the segments are large and profitable enough
- Accessible: segments can be reached and served
- Differentiable: segments are distinguishable and respond differently to different marketing actions
- Actionable: effective programs can be formulated
Once we have identified the market-segment opportunities, for an effective market segmentation, it is necessary to then elaborate on the characteristics of the segment with demographics and lifestyles and usage behaviours and evaluate and consider the segments’ attractiveness (size, growth rate, competition, sales potential and expected profit margins) with internal consistency (ability to leverage company’s competencies with the target that want to reach as the capacity to offer superior value, the access to distribution channels and capital investment needed). According to the information given in the case, in our opinion Nanda should target the FUN segment, which presents a bigger potential market size (it covers both people with