Market the Hyperloop

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  • Information from PRIZM & CNN
  • Information from PRIZM
  • Information from PRIZM
  • From PRIZM
  • Information from PRIZM
  • Information from PRIZM
  • Market the Hyperloop

    1. 1. THE NEED FOR SPEED Market the Hyperloop By Jessica Prinsen
    2. 2. THE HYPERLOOP • 700 MPH capsule commute • 30 minute ride between Los Angeles, CA to San Francisco, CA • Reinventing transportation
    3. 3. SITUATIONAL OVERVIEW • The Hyperloop is consistent with our culture: • Need for immediate gratification: • Immediate in terms of destination arrival times • Importance of technical features and benefits: • Safe: resistant to earthquakes, wind, ice, fog & rain • Fast: 30 minute commute & not disruptive along the route • Technicality: the newest, most innovative form of transportation • Sustainability: Self-powering (solar panel based) • Technology is happening now: • Drones for Amazon • Concept: Holograms for traffic lights
    4. 4. TARGET AUDIENCE • Consumer Market • Premium Wealthy Consumers • Innovators and Early Adopters • Geographically limited: California’s wealthiest residents • Zip Code with the highest percentage of million-dollar homes according to CNN Money is Rancho Santa Fe, CA 92067 (96%) The following information is derived from PRIZM based on the ZIP Code of 92067 which is known as Rancho Santa Fe, CA. The information is a reflection of the residents and has been categorized in 5 segments: Big Fish, Small Pond, County Squires, God’s Country, Second City Elite and Traditional Times. This audience reflects on a small-scale the same audience we would target for the success of launching the Hyperloop.
    5. 5. TARGET AUDIENCE • First Segment within Rancho Santa Fe: Big Fish, Small Pond These upscale, empty-nesting couples enjoy the trappings of success, including belonging to country clubs, maintaining large investment portfolios, and spending freely on computer technology. Lifestyle & Media Traits: • Shop at Talbots • Go sailing • Read Kiplinger's Personal Finance Demographics Traits: • Urbanicity: Town/Rural • Income: Upscale • Income Producent Assets: Millionaires • Age Ranges: 55+ • Presence of Kids: HH w/o Kids • Homeownership: Homeowners • Employment Levels: White Collar, Mix • Education Levels: Graduate Plus • Ethnic Diversity: White
    6. 6. TARGET AUDIENCE • Second Segment Rancho Santa Fe: Country Squires The wealthiest residents in exurban America live in Country Squires, an oasis for affluent Baby Boomers who've fled the city for the charms of small-town living. In their bucolic communities noted for their recently built homes on sprawling properties, the families of executives live in sixfigure comfort. Lifestyle & Media Traits: Order from amazon.com Vacation at ski resorts Read Shape Demographics Traits: Urbanicity: Town/Rural Income: Upscale Income Producing Assets: High Age Ranges: 35-54 Presence of Kids: HH w/ Kids Homeownership: Mostly Owners Employment Levels: Management Education Levels: Graduate Plus Ethnic Diversity: White, Asian, Mix
    7. 7. TARGET AUDIENCE • Third Segment Rancho Santa Fe: God’s Country God's Country emerged as the most affluent of the nation's exurban lifestyles. Today, wealthier communities exist in the hinterlands, but God's Country remains a haven for upscale couples in spacious homes. Typically college educated Baby Boomers, these Americans try to maintain a balanced lifestyle between high-power jobs and laid-back leisure. Lifestyle & Media Traits Order from orbitz.com Go cross country skiing Read Wine Spectator Demographics Traits: Urbanicity: Town/Rural Income: Upscale Income Producing Assets: Elite Age Ranges: 45-64 Presence of Kids: HH w/o Kids Homeownership: Mostly Owners Employment Levels: Management Education Levels: Graduate Plus Ethnic Diversity: White, Asian, Mix
    8. 8. TARGET AUDIENCE • Fourth Segment Rancho Santa Fe: Second City Elite There's money to be found in the nation's smaller cities, and you're most likely to find it in Second City Elite. The residents of these satellite cities tend to be prosperous professionals who decorate their homes with multiple computers, large-screen TV sets, and an impressive collection of wines. Lifestyle & Media Traits: Shop at Neiman Marcus Collect art Read Smart Money Demographics Traits: Urbanicity: Second City Income: Upscale Income Producing Assets: Elite Age Ranges: 55+ Presence of Kids: HH w/o Kids Homeownership: Mostly Owners Employment Levels: White Collar, Mix Education Levels: Graduate Plus Ethnic Diversity: White, Asian, Mix
    9. 9. TARGET AUDIENCE • Fifth Segment Rancho Santa Fe: Traditional Times Traditional Times is the kind of lifestyle where small-town couples nearing retirement are beginning to enjoy their first empty-nest years. Typically in their fifties and sixties, these upper-middle-class Americans pursue a kind of granola-and-grits lifestyle. On their coffee tables are magazines with titles like Country Living and Country Home. But they're big travelers, especially in recreational vehicles and campers. Lifestyle & Media Traits: Shop at Sam's Club Contribute to PBS Read Southern Living Demographics Traits: Urbanicity: Town/Rural Income: Upper Mid Income Producing Assets: High Age Ranges: 55+ Presence of Kids: HH w/o Kids Homeownership: Homeowners Employment Levels: White Collar, Mix Education Levels: College Graduate Ethnic Diversity: White
    10. 10. TARGET AUDIENCE • Innovators & Early Adapters • Innovators • People who are fascinated with ground-breaking technology, • Want to be apart of the Hyperloop’s initial launch, & • Can afford initial prices Early Adapters • People who commute between Los Angeles and San Francisco regularly • Work-related, social reasons or housing in both locations • People with money and without children (less concern & skepticism of safety) • People who are genuinely interested in innovation of transportation to reduce commuting times
    11. 11. SUMMARY OF TARGET AUDIENCE • PRIZM Quick Facts for Rancho Santa Fe: • Target: Adults without children • Median Age: 52 • Targeted Age: 35-55+ • Median Income: $120,800 • Consumer Spend: $99 MM • Consumer Spend ($/HH): $73,481 • Targeted Occupation: High-level management & retired • Interests: Travel, leisure, technology
    12. 12. COMPETITIVE ANALYSIS Car Pros: • Convenience • Luggage is not a factor • Status • $112 USD on average round-trip commute from L.A. to San Francisco Cons: • Traffic • 5-7 hour drive from San Francisco to L.A. • Maintenance fees Hyperloop Pros: • Speed & convenience • 30 minute commute between L.A. and San Francisco • Weather is not a factor • No traffic Cons: • Expensive • > $500 USD • High demand, small supply • Skepticism of safety Plane Pros: • 1 hour 27 minute commute between L.A. and San Francisco • Fastest current mode of transportation • Easy to commute regularly Cons: • Lost luggage • Airport delays • Weather is a factor • Relatively expensive • $450 USD round-trip
    13. 13. COMPETITIVE ANALYSIS High Speed Rail Pros: • Fastest ground system besides the Hyperloop • < 3 hours to L.A. from San Francisco • Low cost per commute Cons: • Expensive to build • Luggage is limited • Low status • Cost per ride TBD Hyperloop Pros: • Speed & convenience • 30 minute commute between L.A. and San Francisco • Weather is not a factor • No traffic Cons: • Expensive • High demand, small supply • Skepticism of safety Mega Bus Pros: • Least expensive • Twice as fuel efficient as private cars • Bus lanes are quicker Cons: • Low status • About a 7 hour commute from L.A. to San Francisco • Dirty • $30 USD round-trip
    14. 14. PRICING STRATEGY • Price Skimming Strategy • The Hyperloop will be in the introductory phase of the product life cycle and will therefore take on the price skimming strategy • The Hyperloop provides the best benefits compared to its competitors which is speed, resistance to weather and convenience. Comparing it to the next fastest mode of transportation is the plane, which runs at about $450 USD per round-trip. The Hyperloop should be positioned well above $500 USD to ensure that it can supply the demand, recover the research and development costs and lastly to make a profit.
    15. 15. COMMUNICATION STRATEGY • Goals: • Reach the target audience • Premium wealthy consumer • Innovators • Early adapters • How many times per month? • Goal is 8 times in the first month (to inform and to create awareness) • 5 times in the second month (continue to gain awareness) • What Channels? • Use a multi-channel platform
    16. 16. COMMUNICATION STRATEGY • Multi-platform channels • Message: Focused around “The Need for Speed” theme, futuristic advertisements showing the benefits of the Hyperloop & informing on the safety. Mostly focused on the “cool” aspect of the futuristic transportation and the little time it takes to commute. Time is of the Essence. • Outdoor Geographic Targeting • Creative Billboards that people are constantly driving by and will aspire to one day ride the Hyperloop to avoid the traffic that they are currently sitting in • Futuristic, witty, clever and informative • Outdoor Events/ Setups • Similar to: http://www.youtube.com/watch?v=VErg8ZgdOB8 • Goal: GAIN ATTENTION
    17. 17. COMMUNICATION CHANNELS • Multi-platform Channels • Hyperloop Endorsers • People who are extremely influential to the early adopters and early majority (experts, car enthusiast celebrities etc.) • Contact via direct message or direct messaging an agent • Offer initial free rides for the influencer with the expectation that they will report their experience on some form of social media • Campaign leading up to the first Hyperloop ride with the endorser and post-ride interview and press-releases • Example: Get the Saturday Night Live cast to participate in the initial beginning of the Hyperloop • Hits a large audience of all ages of the spectrum (gains awareness) • Multiple Saturday nights spent on the lead up, the actual ride and then after the ride
    18. 18. COMMUNICATION STRATEGY • Multi-platform Channels • Celebrity Magazines: • Advertisement placements in magazines that the celebrities or premium wealthy consumers may be featured • Advertising placements that are magazines of interest: Kiplinger's Personal Finance, Shape, Wine Spectator, Smart Money & Southern Living (Magazines appealing to Rancho Santa Fe, CA) • Target technology, finance and leisure magazines, online journals and blogs • Media Outlets • Radio advertisements and radio talk show hosts speaking with the public about the Hyperloop • Yoube videos: awareness/ informing and thrilling videos • Publicity
    19. 19. CREATIVE STRATEGY • Value Propositions • For the premium wealthy traveler or regular commuter who wants to decrease the time spent commuting between Los Angeles and California, the Hyperloop is the fastest mode of transportation. • The Hyperloop takes away the stress, frustration and lack of energy that you experience from your current mode of transportation by sending you in a capsule for 30 minutes stress-free. • The Hyperloop creative strategy should be innovative, futuristic and informative in obvious manners • It is the first Macintosh of computers
    20. 20. BRING THE HYPERLOOP FROM AN IDEA TO REALITY • The Hyperloop should be marketed to the premium wealthy consumer with a price skimming strategy. The demand will be high as the Hyperloop is the fastest mode of transportation, safe and sustainable. The target audience will be the innovators and early adopters who are interested in technology, travel and reducing time spent commuting. Communication channels should be focused primarily on outdoor billboards, influential endorsers and publicity. The creative strategy should focus on the benefits the Hyperloop offers as well as the futuristic and innovative look the Hyperloop possesses. • Let’s bring the Hyperloop to life.
    21. 21. Thank you! By Jessica Prinsen

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