Marketing Plan Presenters Pete Rooke Renee Lin Jacky Chen Marshall RX
Joe’s Experience 10:00 : Joe takes out his note and turn on his digital recorder. 10:25 : Joe misses an important example when he tries to write down everything professor says. 19:00 : Joe lies down on the couch and turn on his 32” HDTV, leaving his note in the bookcase. 2 months later, mid-term is coming… 10:00 : Joe goes through his notes and find many unclear points. 10:20 : Joe plays his recording files and tries to find out what did the professor say. 10:40 : After 20 minutes, he finally gets the example Dr. P said. 11:30 : Joe sees a term “SMST” and does not know what it is. He recalls that Dr. P said few weeks ago. He flips around his notes to get the explanation. 11:40 : Joe finds the note after 10 minutes. 11:55 : He finds he missed a class and needs to borrow notes from Luke. 12:30 : He gets the notes from Luke and heads to FedEx Kinko to get a copy.
Pain Points Joe feels that his learning experience would be more productive if there is a tool to a) share notes easily on the web. b) search through the notes. c) remind him of what was talked about in the class. d) link the audio recorded in the class to the notes. Digital Pen ( EPOS, Anoto ) Handwriting Recognition S/W with EPOS, Anoto Digital Voice Recorder (Sony, Olymbus, Panasonic) ?????????? His Options are …..
Introducing…. Giving Voice to your Notes The Pulse Smartpen is a computer embedded in a pen that captures handwriting and simultaneously records audio, synchronizing it to the writing. This is particularly useful in taking notes during a class or conference. The Pulse Smartpen comes in two versions: the 1GB model with 100 hours of audio storage and 16000 pages of digital notes, the 2 GB model doubles the storage .
Who is our Customer Professional Non Professional Students Need: Increase GPA Market Size: 11 Million Fit of the Product: Perfect Benefits: Increase productivity, Saves time Financially Viable: Yes Need: Incorporate all details Market Size: 52 Million Fit of the Product: Partially Benefits: Capture all details in a meeting Financially Viable: Yes Need: Fill Applications Market Size: 94 Million Fit of the Product: Poor Benefits: Electronic Application Source : http://www.census.gov/population/www/socdemo/school/cps2007.html
Value Stack Good Grades and Job No time for Networking. Grades are average and lands in an average Job Save time for networking Cannot locate the required clip Student with a pen and a Digital Voice Recorder Student with a Pulse Smartpen Linking Audio with notes Searching Audio Share Notes Share Notes v v Y Y Studious Student Studious Student
Positioning Livescribe Audio Recording Audio Recording Link audio with notes Non Digitized Note taking Digitized Note taking Non Digitized Note taking Digitized Note taking No Audio Recording No Audio Recording
Marketing Mix Place Product Saves Time Never Miss a word Increase Productivity Facebook LiveScribe Technical blog Book Stores Sony Digital $64.95 Promotion Price IOGear Digital Pen $70.73 Smartpen $149.95
Financials 35% 60% 60% 85% 10% Livescribe will breakeven in 2011 Market Potential 2%
Other Suggestions The price point may intimidate some college students on tight budgets. Livescribe must position their pen as a necessity (same as textbooks/course packs/tuition/housing) so that the parents will be willing to fit the bill. Target the ad’s at students and encourage them to use these to show their parents how necessary it is for them to get a Smartpen. Increase the visibility by making it available in more retail outlets