3. Introduction
• The Elements bracelet is a mood and mental wellbeing tracking device that encourages a
healthy state of mind within chaotic lifestyles
• Elements is a new experience that understands and learns about your environment and how
these changes make an impact on one’s state of mind
• March 20, 2015, Electric Foxy’s Elements bracelet will be launched into the increasingly
competitive yet new world of wearable technology
• Electric Foxy faces the challenge of launching an unknown brand (product-brand and
mother-brand) into a new and growing market
• Elements will officially be the first Electric Foxy product sent to market, which poses an
incredible opportunity to establish the overall brand as a fierce competitor within the wearable
jewelry category
• The Elements brand was selected as the flagship product because of the fact that the bracelet’s
design and functionality delivers a benefit unlike any other wearable jewelry product to
date
5. Key Issues
• Electric Foxy has yet to enter the market. Other brands have already taken products
to market, getting a head start on capturing market share.
• High-profile fashion designers are entering the wearable tech space. Electric Foxy will
have to compete with brands that have consumer recognition and established
distribution/retail capabilities.
• Customers may have difficulty seeing the value of wearable technology when they
already have similar functions, such as email notifications, on their mobile devices.
• Customers may be open to wearable tech, but confused by how products work,
discouraging them from buying. Education, such as the ability to try in store/trained
salespeople, and ease of use will be crucial to capture these customers.
6. Macro Environment
• Economic
– The U.S. is slowly emerging from a recession and consumers are once again starting to
spend their money less frugally. As of August 2014, real disposable income across the US
increased by 0.3 percent, which is a clear sign that consumers are starting to spend again.
• Legal
– Although the wearable technology sector is fairly new, there have been a number of legal
issues facing the category. Intellectual property becomes a challenge as the category
becomes more competitive.
• Technological
– It is changing the way consumers communicate from a way that simply started out with
bands that monitor health, to chips that can be embedded into clothing or human skin. The
category is developing at a rapid rate and response time in this category is critical for those
within it to remain competitive and relevant.
• Demographic
– According to Nielsen, Millennials are one of the largest generational groups in the U.S. and
are also the majority owners of wearables.
7. Category Trends
Technology Gadget To Fashionable Items:
• Fashion brands are starting to respond as well. Ralph Lauren unveiled their high-tech t-shirt for
athletes at the US Open in 2014. This growing trend is one of ‘form meets function’ to create
products that are aesthetically pleasing materials enhanced by technology.
Bringing People Closer Together:
• The wearable technology category is growing in a direction that provides a more emotional
benefit than a functional one. Wearable tech is minimizing the gap between loved ones through
a series of innovative products such as a ‘hug-simulating jacket.’ The T.Jacket is a jacket
designed for kids that parents can control on their mobile devices.
Personal Data Analytics:
• Personal data analytics is a new concept in this sector and encompasses the mining of data that
is demographic, transactional, behavioral and medical. The company Mimo has designed a
onesie that visualizes a baby’s vitals on a coffee mug for close monitoring.
Wearables In The Workforce:
• Companies are starting to incorporate wearable devices into their businesses to better serve
customers’ and employees’ needs. This depicts the broad usage of wearables and how they
can optimize the way a business operates.
8. Consumer Insights
• 48% of current wearable owners are 18 to 34 years old
• Most popular wearable tech: Fitness bands, at 61%
• 53% want wearables that look more like jewelry
Demographics
Men and
Women
18+
College
and Non-
College
Educated
Median
HHI $35K
to $100K Psychographics
Information
Focused
Health
Conscious
Socially
Connected
9. Distribution Insights
• Current Distribution is Non-Existent
– Products still prototypes
• Fitness Band Competitors (Indirect) Sell Through Own Websites, Other Online
Retailer, and Brick & Mortar Retailers
• Tech Jewelry Competitors (Direct) Take Pre-Orders or Sell Through Own Sites
• Success for Electric Foxy: Enter These and Other Distribution Channels to
Steal Share
+ ==
10. Financial Condition
• Wearable tech market expected to grow from $14 billion in 2014 to over $70
billion in 2024
• EF currently with no sales (prototypes only)
• EF spending money on producing product, research, and marketing
We must capitalize on current market conditions
• Appropriate Marketing
• Correct Positioning
11. Competitor Analysis
Brand MEMI CUFF Tory Burch
for Fitbit
Ringly MICA by
Intel &
Opening
Ceremony
Key Product iPhone
compatible
bracelet
A line of jewelry
wearables for all
day
Smartphone
compatible
bracelet
Smartphone
compatible ring
Smartphone
compatible
bracelet
Image
Description Notification Notification
Activity
Tracker
Notification
Activity
Tracker
Notification Notification
Activity
Tracker
Price $150 Basic $49
Premium $99
Style pack $199
$195 $148-$180 Estimated $500-
$1000
Differentiator Made for
women by
women
Smart Safe
Jewelry
Fashion meets
technology
Stay connected
in style
First luxury
smart bracelet
12. Competitor Analysis
Brand MEMI CUFF Tory Burch
for Fitbit
Ringly MICA by
Intel &
Opening
Ceremony
Brand
personality
Chic
Professional
Mature
Professional
Edgy
High fashion
Professional
Young
Chic
Fun
Edgy
Fashion
forward Young
Availability Out on pre-
order,
Expected
delivery Spring
2015
Out on pre-
order,
Expected
delivery March
2015
Available Now Out on pre-
order, Expected
delivery Early
2015
Available in
Barneys and
Opening
Ceremony
Stores by
Holiday 2014
Key
marketing
activities
Social media
presence
PR coverage
Social media
presence
PR coverage
Social media
presence
PR coverage
Social media
presence
PR coverage
Social media
presence
PR coverage
13. SWOT
Strengths Opportunities
• Fashionable pieces that women find
beautiful
• Unique product features
• Monitors environmental effects
• Tracks trends and patterns to help
maintain mental health
• Increased focus on preventive care
expands health/fitness market
• Higher profile wearables, such as
Apple Watch, could lead consumers to
adopt Electric Foxy products
• Retail partnerships with fashion and
athletic apparel retailers
Weakness Threats
• Customers may not understand how
the product works
• Lack of enhanced experience
• Other wearables offer more flexibility in
how they’re worn
• Other wearables are already available
on the market
• Fashion designers, e.g. Tory Burch,
are starting to develop wearables
15. Marketing Objectives
1. Build brand awareness from 0% unaided to 15% unaided among our target market by
the end of the fiscal year.
2. Secure retail distribution with 42 retailers and specialty stores (brick and mortar and
online) in key geographic markets, ex. New York and Los Angeles by the end of the
fiscal year.
3. Successfully launch the Elements product by selling approximately 10,500 units by
the end of the fiscal year.
4. Attain 0.1% market share of the entire wearable tech market by the end of the fiscal
year.
17. Segmentation
“Socially
Connected”
-Desire to constantly be
“in-the-know”
“Always
Athletic”
-Desire to monitor and
improve progress
“Health
Aware
Couch
Potatoes”
-Desire to become
more active without
having to go to the gym
“Holistic
Health
Conscious”
-Want to monitor overall
wellbeing
-Desire a healthy body
and mind
18. Target Market: “Holistic Health Conscious”
Needs
Beautiful
Simple
Meaningful
Demographics
Millennial
Women
Median HHI
above $75K
Located in Major
Metropolitan
Areas
Psychographics
Fashionable
Busy Lifestyle
Health Conscious
Fashion First, Technology Second
19. Positioning
In order to successfully launch Elements into the wearables market, we need to determine how we are
going to position the product uniquely against our competitors
Socially
connected
‘My’ wellbeing
Self-expression
(internal
benefit)
Trend setting
style (external
benefit)
Positioning opportunity
for Elements
Positioning opportunity –
but not relevant to
Elements
20. Distribution
• High-End Fashion Retailers
– Bloomingdales, Barneys, Bergdorf Goodman, Neiman Marcus, Nordstrom, and Saks Fifth
Avenue
• Athletic Specialty Stores
– Lululemon, Athleta, and Sweaty Betty
• Online Retailers
– Nancy Rose Performance, Yoga Smoga, Zobha, and Vickerey
• Electric Foxy Website
21. Product
• Keep Track of Environmental Elements
• Get Suggestions on What Affects You
• See Trends and Get Predictions
• Set Goals For a Healthy State of Mind
• Stay in Your Healthy Zone
22. Pricing
• $175 Direct-to-Consumer
• $115 to Retailers
• Priced Based On:
– Costs to Manufacture
– Other Similar Products like MEMI and Tory Burch for Fitbit
24. Tactic 1: Events - New York Fashion Week 2015 S/S
• Description:
- Collaborate with Calvin Klein in their 2015 spring summer fashion show in New York
- Models wear Elements on the runway, screen reflects models’ mood fluctuations on the screen
- #MyCalvinElements will be promoted on social media
• Creative: Publicity and grab instant attention
• Location & Timing: Mercedez-Benz Lincoln Center, February 15th
• Cost: $60,000
#MyCalvinElements
25. Tactic 2: Events – Launch Event in Calvin Klein Flagship Store
• Description:
- Models showcasing Elements in the store
- Invite celebrities and press to attend the
press event
- Samples will be provided for try on
• Creative: Publicity for launch of the
product, celebrity endorsement increases
the awareness of Elements - try on
product
Location & Timing: Calvin Klein
Flagship Store at Madison Avenue, New
York
Cost: $24,000
26. Tactic 3: OOH
• Description: Sequence Advertising
• Creative: First ad grabs attention, second ad elicits emotion and call to action
• Location & Timing
– January: ALL Locations
– April: SoHo & LA
– July: 5th Avenue & OC
• Cost: $184,000
“Am I Fashionable or
Am I Fit?”
“Elements Lets
Me Be Both.”
27. Tactic 4: OOH
• Description: Seasonal Advertising, leveraging outdoor media
• Creative: Showing how Elements can provide information on how the environment
affects your mood
• Location & Timing: One month of each season in all major locations
• Cost: $432,000
“Am I
Fashionable or
Am I Fit?”
Conquer
the
Winter
with
Elements
E
F
28. Tactic 5: Experiential
• Description:
– Portable 'booth' that creates visuals and colors to stimulate and affect peoples’ mood states
– The essence of the mood chamber is to be more of a pop-up style experience so creative
would not necessarily be briefed, but a supplier who can create and develop this type of
device
• Creative: Spark interest and curiosity
• Location & Timing: Pre- and post-launch once a week at a key location, February
2015 onwards. The chamber can be used at the product launch to get people to
engage more with the bracelet and the brand.
• Cost: $30,750
29. Tactic 6: Promotions (in-store/online)
• Description:
– Pre-Order Promotion: Customers can place orders prior to the product launch between January 1 and March
20, 2015 on the Electric Foxy website.
– In-Store Demonstrations: Pop-up boutiques with targeted retailers.10 pop-ups In New York and Los Angeles
throughout the year-long campaign. Opportunity to build awareness and secure retail distribution
partnerships.
• Creative: Customers experience and test the product in person
• Location & Timing: Select retail locations in New York and Los Angeles
– First quarter: January 25, February 8, March 22
– Second quarter: April 5, June 28
– Third quarter: July 26, September 20
– Fourth quarter: October 25, November 22, December 13
• Cost: $70,000
30. Tactic 7: Trade Shows
• Description: Five technology conferences and fashion tradeshows
– Increase awareness among industry insiders
– Attract buyers from target retailers
– Secure additional investments
• Creative: Industry leaders, buyers, and investors view and test the product
• Location & Timing:
– International Consumer Electronics Show: January 6-9, 2015 Las Vegas
– JA New York: January 18-20, 2015 New York City
– COEUR: March 16-18, 2015 Los Angeles
– Smart Fabrics + Wearable Technology Conference: May 11-13, 2015 San Francisco
– Wearable Tech Expo: June 2-4, 2015 New York City
• Cost: $62,250
31. Tactic 8: Social Media
• Description:
– Mood Portraits on Pinterest
• Mood of Seasons: Boards update according to users’ mood and seasonal changes
– Twitter Hashtags
• Tweets containing health and wellness tips using seasonal hashtags, e.g. #ElementsWinterMoods
– YouTube/Web Videos
• Promote mood enhancement/relaxation techniques that can be monitored by the bracelet
– Exclusive Content
• Weekly product news, tips, and updates sent to an exclusive member list
– Social Media & Tradeshows
• Blog posts and live tweeting to share interesting discoveries or industry thought leadership
– Social Media & Pop-Up Stores
• Boutique announcements; new followers on Twitter will enter a drawing for a free bracelet
• Creative: Engaging content that encourages purchases and turns customers into
brand ambassadors
• Location & Timing: Throughout the year
• Cost: $98,050
32. Tactic 9: Programmatic Ad Buying
• Description: Set parameters to target only desired consumers
• Timing & Impressions
– Jan to Apr: 50,000/day
– May to Oct: 25,000/day
– Nov & Dec: 37,500/day
• Cost: $12,890
38. Implementation Control Chart
Activity Milestones Approach
Awareness Achieve 4% unaided awareness by
end of Q1, and 7% unaided
awareness by Q2
Conduct on going online surveys (end of each quarter)
Q2 focus groups with target market
Implement in-store surveys by Q3
Monitor social media ‘mentions’ and analytics(Alexa) on an
ongoing basis
Distribution Achieve retail distribution of 21
stores by end of Q2
Trade analysis –identify any challenges/opportunities
Conduct distribution survey to examine relationship between
Electric Foxy, Elements and retailer
Sales Achieve 1,500 unit sales by end of
Q1
Achieve 2,500 unit sales by end of
Q2
Achieve 3,000 unit sales by end of
Q3
Achieve 3,500 unit sales by end of
Q4
Examine sales data
Launch (presale
target)
Sell 500 units prior to March launch
date
Examine sales data
Monitor Twitter page and website traffic – increase in
followers by 5% due to marketing efforts will show gaining
popularity and interest in the product
