MARK Case StudyClocky: The Runaway Alarm Clock

Session 4

MARK Case Study

Agenda1) MARK Case: Clocky2) Dragons’ Den3) Prepare for MARK presentation4) Return ISOM essays

MARK Case Study MARK case: Clocky

Imagine that Nanda has hired us, a group of marketing consultants to give her advice on the best way to go forward with Clocky.Analyse her current situation:Positioning dilemmaProduct – design, features, competitors…Price – cost, retail price…Promotion – interviews, direct communication…Place – manufacturing , distributing…Other problems

MARK Case Study MARK case: Clocky

Task: 1) Summarize all relevant information

and facts about the different areas mentioned in the case

2) Use a graphic organizer to organize and present your information. (e.g: charts, tables, mind maps, graphs, lists, Venn diagrams, flow charts)

MARK Case StudyAdvice to Nanda

-Decide on the positioning of Clocky

-Decide on the Value Proposition-Apply the 4Ps that reinforce and

are consistent with the value proposition

MARK Case StudyYour advice to Nanda:Positioning of Clocky:

Positioning

Target Market

Fundamental Need

Core Benefits

Required Attributes

Functional Sleeping Aid

Those with sleep problems

Loss of snooze control, get me out of bed

Efficiency,Functional efficacy

Durability,Reliability,Clinical design,Serious features

Fun gift

Pet Companion

????

MARK Case Study

Your Group Project:(Refer to Assessment Handouts)

Imagine your group has recently invented a new product and you are quite excited. You are looking for additional funding to complete the product and get it to market. You have contacted a potential investor and he/she has invited you to present your marketing pitch.

MARK Case Study

Your Group Project:(Refer to Assessment Handouts)

Two Options:Option 1: use Clocky and make

necessary adaptationsOption 2: invent a whole new

product

MARK Case Study Watch an episode from Dragons’ Den

Reality television programmeEntrepreneurs pitching their business ideas to

a panel of potential investors (the dragons)Contestants present their ideas to the panelContestants make a request on the amount of

funding they needContestants offer to the panel the company’s

stock (equity) in exchangehttp://www.youtube.com/watch?v=kzcQtXA5Gc8

http://www.youtube.com/watch?v=MhKxPn_g_40&feature=related

MARK Case StudyFrom the Dragons’ Den

-Well Prepared (financials, competitors, potential market…)-Starts with a hook (i.e.: problem to solve)-Focuses on business need (market analysis)-Focuses on benefits to the customers (customer-oriented) -No fancy power point-No fancy visual aids-Focuses on communication skills, negotiation skills, delivery skills

Content Preparation: Conduct a market analysis

◦ Existing segments vs. new segments◦ Marketing Challenges in the different segments

Identify your target market segment Identify what are the fundamental needs of this segment

◦ What special features does this segment have?◦ What to motivate them to buy your product?◦ What problems do they have that your products might help them solve?◦ What are their needs?

Determine the positioning of your product Match your product to the needs of your target segment: Features vs. Benefits

◦ What benefits can you bring to your target segment? Are they quantifiable?◦ Point out how the special features that your products include can be

translated into benefits to the customers?◦ How can your product solve the problems of your target segment?

Competitive Analysis◦ Who are the strongest competitors now in the market?◦ How can you differentiate your product from your competitors? ◦ In what ways can you beat your competitors? Quantifiable?

The 4Ps (Product, Place, Price, Promotion)◦ How to apply the 4Ps to reinforce your positioning of the product?

Constraints or limitations in marketing your product◦ Can you foresee the constraints and limitations?◦ Any solutions?

MARK Case Study

Your Group Project:(Refer to Assessment Handouts)

Two Options:Option 1: use Clocky and make

necessary adaptationsOption 2: invent a whole new

product

BE CREATIVE!!!

Marketing Plan Presentation

MARK Case StudyThe Latest on Clocky

http://www.nandahome.com/Browse the website. What did she

decide to do at the end?What distribution channel?

What price range?What positioning?What features are included/excluded?

Marketing Plan Presentation

Marketing Plan Presentation

Marketing Plan Presentation

MARK Case Study

Your Group Project:(Refer to Assessment Handouts)

Presentation Dates:Presentation Dates

T07 T35 T28,T17,T06

Day 1 (3 groups)

11th April (Wed)

13th April (Fri)

10th April (Tues)

Day 2 (3 groups)

13th April (Fri)

16th April (Mon)

12th April (Thurs)