Regina: Welcome, in the next half hour we will be talking to you about the gap in the market we wanted to fill, what we have created, our brand values and mission statement. The pricing and placement of our product. Then we will be asking you questions and handing out a questionnaire for you to fill in.
Millie: We thought that we would go with the theme of phone accessories because there is a lot of new phones coming out and people will need accessories for them. We didn't’t want to make something to complex that it wouldn't’t seem achievable so we decided to go with the idea of making a new phone case.Regina: We felt that there isn’t a mass market for phone cases. You don’t usually hear about new phone cases coming out so we wanted to design something original and different from anything that has been made before.Millie: With young people always being on their phones using up battery surfing the web, on social networking sites and talking to friends and families we recognized that your phone battery doesn't’t always last as long as you need it too. Regina: Phone cases are being sold all over the word, in a substantial amount of places. Whether its Tesco or Apple there has not been a charging colour phone case yet. There are phone cases, which charge a phone being sold on eBay, so this would be a competitor. Also minor competitors are places like Apple, Carphone warehouse, Tesco and basically any superstore or retail shop. Millie: This is how we came up with our product.
Millie: Do you often find yourself in a situation where your phone’s charge doesn't’t hold for the whole day because of your constant use of it?Regina: We have the solution! Millie: The first function will be the ability to charge the phone when the case is on it. There is already a product on the market, which does this, but this will differ, as unlike the current ones this will be visually appealing and not as bulky. Although the product acts like a charger, it does run out of battery. Another feature will link with this, the case will include a microchip within it, which acts as a wireless charger, all what is needed is the battery adapter and it will charge from a distance.Regina:The phone case will also be colour changing, which will be an option. It will change colour due to the battery so for example if the battery is low it will be red, medium it would be orange and full it would be green. This may not be to everybody’s taste so there will be three different products developed, the original, one for females and one for males.Millie: The female design will include colours such as pinks, purple and blue. Whereasthe male design will be green, blue and red. Regina: Do you have any comments on these ideas or any questions?
Millie: There are two designs one for our male audience and one for our female audience.Regina: We have done this so there isn’t just once phone case, you get a choice on which one you want.Millie: We have made the phone case simple with just the logo on it so that the audiences attention isnt distracted from the fact that it is colour changing.Regina: We have incorporated the logo into the design so that people who see the case will know who has made it and where they can get it.Millie: Do you think these designs will be appropriate to our audience? And do you have any questions?Regina: there is a bow added on the female version to give it an extra girly touch and to cater to the audiences needs.
Regina: Our mission statement is New and improved the colorful, charging phone case aims to protect and perfect the look and usage of your phone. Millie: Brand values.Qaulity- The product will be made to the best quality possible ensuring the customer is statisfied with it and create a good brand name for the company.Regina: Value- The product will offer good value for money, ensuring the products are at a reasonable price and the consumer gets what they pay for.Millie: Creativity- The product not only protects a phone, but also brings an aspect of creativity with it. It will protect, charge and look good. Regina: What do you think of our mission statement?
Regina: The price strategy what will be used to sell the product will be Price skimming. The product will be sold at a higher price when it is first released as people will be willing to buy it, but in the future the prices will drop to a reasonable price to cover the cost and get some profits. Millie: The price set for the product on the launch date will be £25 for the first month than after that will drop down to £20. This is the price for the bundle, which does not include the wireless charger, this will add an additional £5. Regina: The product will be sold in a variety of places, which are suitable. This will be mainly phone shops, such as T-Mobile or Samsung. Also in supermarkets such as Tesco, Asda and Sainsbury’s. The aim is to get the product out their as much as possible, so this means taking any opportunities offeredMillie:Also the product can be purchased online, so this could be on websites such as play.com. Regina: Do you feel that this pricing strategy is suitable for our product?Millie: Is there anywhere else you could think of distributing our product?
Regina: We have a questionnaire for you to fill in and give us your honest opinions.
Millie: thank you for listening to our ideas.
1. COLOUR BUG.
Millie, Emily, Regina.
Gap in the market
Brand values and mission statement
Pricing and placement
Questions and hand outs
3. THE GAP IN THE MARKET
4. COLOUR BUG PHONE CASE
Does your phone battery not hold all day?
Colour changing case.
5. THE DESIGNS
6. BRAND VALUES AND MISSION
‘New and improved the colorful, charging phone case aims to
protect and perfect the look and usage of your phone.’
7. PRICE POINTS AND PLACEMENT
Price Skimming- higher price on release. It will eventually drop.
Launch date price £25
Drop to £20
8. QUESTIONS AND DISCUSSION
Would you purchase our product, if so how much would you pay for it?
Do you like the idea of a colour changing case? If so have we targeted the
male/female version well?
Do you like the name and logo of our product?
If you could change any aspect of our product what would it be?
Do you think there is a place in the market for our product?