CLOCKY Jules Boletis Gera Lenssen Lotte Huisingh Joost Verbakel Ann-Kathrin BeiderwellenClocky gives waking up a new dimension
Key marketing challenges Choice of producer and retailer Retail price Danger of becoming a FAD Target segmentation Positioning Differentiation from competitors Marketing communication How to retain the leverage gain from PR Generating publicity at market introduction
Additional segmentsThere are several ways of market segmentation Psychological Need marketing Fun marketing Demographic
Demographic Age marketing Case: 26-35 and 36-45 are the most interesting sub groups (70%) of the potential buyer group. For example young families. Gender marketing Thereis no significant difference between male and female interest. Male: 3.970 Female: 3.181
Target segmentation Why Fun marketing Group of interested people is bigger Variety of product design, innovation Why not Need marketing Higher consumer expectations Competition is product leadership (SleepSmart) Clocky 2.0 could be more focused on need marketing Value proposition: movie link Clocky gives waking up a new dimension.
Positioning Distribution trough a big retail chain (low cost) Less risk Option of selling in store and online shop Main retailer will be Walmart because of the highest distribution network within the United States. When contractually possible, other retailers with a mark-up smaller than 140% will be used as a additional outlet. Nanda does not have the capabilities to introduce the product on her own on this scale. In line with the low cost strategy we advise Nanda to go with a foreign producer. Lack of experience should not be influencing the choice of this strategy. Usually these types of products are produced in Asia.
Positioning This positioning (low cost) is in line with the goal of Nanda to organize a successful market introduction of Clocky with the highest achievable profit. The positioning of Clocky will not change over time. When Clocky will be a success, Clocky 2.0 could be positioned with more risk, such as higher prices and aiming for need marketing.
Marketing launch plan: MarketingMix Product Clocky gives waking up a new dimension. Price The price needs to be determined by looking at the willingness to pay. $39,99 considering the mark-up of 140% of Walmart with a cost-price of $15,-. This results in a profit margin of 126%. Place Selling at big retail chain and other low cost retailers to achieve availability throughout the United States.
Marketing launch plan: MarketingMix Promotion Free publicity (TV-shows, radio-shows, Youtube.com) Walmart and other retailers. They will provide further promotion tools and will make sure that Clocky will not become a FAD product. Social media, own website, Facebook.com. Partner Producer Foreign producer in line with low-cost strategy. Retailers Low-cost retailers and big chain retailer (Walmart).