Even though Clocky was the center of the media hype, Gauri Nanda is faced with many pressing challenges and issues for its commercial debut in the marketplace:
Analysis: 1. Industry Analysis
The US alarm clock market in 2005 was quite fragmented with a significant number of players in the regular alarm clock as well as the niche alarm clocks segment. The Americans spent over $7 billion on clocks and watches. On an overall basis, the consumer spending on clocks, lamps and furnishing as a category showed a increasing growth trend. The imported watches segment was also growing at a CAGR of 4% since 2002. The alarm clock industry can be further …show more content…
Cute and funny-looking are the features which define Clocky.
The wheeled alarm clock allows you to snooze once. After this, it leaps off the nightstand and wheels around the room looking for a place to hide. Enthusiastically, screaming, alarming and flashing, one will have to run around the room to turn this thing off. In this way, a Clocky owner completes the positive feedback loop between the wake-up neurons and activity neurons. This prevents the human brain from going back to sleep and thus wakes up the user more effectively.
At present, the pricing of the Clocky is not fixed. However, a price of 45$ - 50$ would be an appropriate retail price. Competing products like Puzzle Alarm Clock which has a close similarity with Clocky is priced at 50$.
d. SWOT Analysis
e. Recommended Modifications
The Clocky can be modified to provide the option of customization for the consumer. Options like setting one’s own music or recorded voice with a specific message can be provided. The customization can be done for different age groups and gender. Other utilities can be incorporated at a later stage like storage space which can be used to store a collection of songs.
Sustainable Competitive Advantage Analysis - VRIN Framework Resource | Value | Rare | Inimitability | Non substitutability | Idea – Humanization of Technology | Yes | Yes |