1. The Temp-Microchip
KEEPS YOU COOL IN THE SUMMER
KEEPS YOU WARM IN THE WINTER
THIS WEARABLE MICROCHIP SENDS SINGALS TO THE
HYPOHTHALMIC THERMOSTAT
TO MAKE YOU FEEL COMFORTABLE NO MATTER WHAT THE
AMBIENT TEMPERATURE IS.
NOT A GOOD IDEA FOR COLD CLIMATES YOU MIGHT GET
FROSTBITE
TARGET MARKET INDIA, WHOSE CLIMATE IS VERY HUMID
AND HOT
INDIA PROJECTED TO HAVE MORE PEOPLE THAN CHINA
TEST MARKET FLORIDA, SIMILAR STICKY WEATHER
2. Environmental Forces
Social: The demography encourages the introduction
of this device. Lots of hot people, not matter what
gender, ethnicity, or social-economic status.
Economic: Once chip goes into production, it will be
affordable to the hot sticky masses
Technologic: India, one of the most “wired” countries;
Enabling domestic production and spreading the word
through social media
Legal: domestic production, no import barriers
3. Competition as an environmental force; Use
Porters Five Forces to analyze:
Supplier power: weak, there is plenty of chip making
capacity in India.
Buyer power: weak, no competitors or substitutes;
protected by patents.
Threat of substitutes: weak, currently no portable,
personal air-conditioning.
Threat of new entrants: weak at this time, patent
protection .
Rivalry among existing competitors: non-existent for
now.
4. SWOT ANALYSIS
STRENGTHS: Mass produced; No current
competition;
WEAKNESSES: Tiny Microchips, easy to lose. May not
be affordable to all. Some cultures might fear it
because it seems like magic or mind-control
OPPORTUNITY: Absolutely new, novel, product that
satisfies a need in a unique manner
THREATS: Patent expiration; new technology.
5. THE PURCHASE DECISION
There is not only psychological influence in the
decision but physiological too, everybody is hot!
Sociocultural influences like reference groups, family
and friends are all hot and sweaty so a potential buyer
has encouragement from these influences
Situational influences: the purchase task is easily
performed online; social and physical surroundings
would be a comfortable place where one can go online,
the consumer's antecedent state would be when they
are online, ready to shop.
6. Purchase decision also is influence by Marketing Mix:
Defining a clear customer value proposition
Currently an unsought item (P1); an example
continuous innovation; no learning needed. The
marketing strategy is to gain consumer awareness
online and Promote through social media (P2).
The pricing (P3) will be in steps, appealing to people
who are innovators themselves and for whom price is
not of major consequence.
The Placing (P4) of Temp-Micro will be to ship to
consumer directly.
7. Skimming
demand curve
Price will be high
initially, taking
advantage of wealthier
portion of Indian
society, who are also
more likely to take the
risk associated with new
product. The short term
goal would be to regain
the investment made.
Long term :to step down
prices and take
advantage of the large,
hot sweaty market. The
product will become a
cash cow.
8. Is This SMART??
The product, the promotion, placement and price and
the sales goals are all SPECIFIC.
Sales, costs, profit and goals are all MEASURABLE.
Due to revolutionary technology and strong need for
the product the goals are ATTAINABLE.
Due to booming business climate in India and the
rising middle class the goals within this market are
RELEVANT.
The goals of the projected demand curve have a
definite TIME-frame.
