Clocky Case Study

1771 Words8 Pages
Problem Statement: • Gauri Nanda the creator of Clocky, has many problems ahead of her as she is working towards the debut of the Clocky. The biggest problem that Nanda faces, is how to position her new product into the market. Situation Analysis: Company: • M.I.T. student Gauri Nanda developed a prototype alarm clock called Clocky; the clock is designed to “runaway” off nightstands and move to a random location in the room to help people who struggle to get out of bed, wake up in the morning • Nanda developed Clocky in M.I.T. Lab in her graduate program. She is currently the only employee of her “company” • Clocky has been given a lot of media attention, and Nanda has appeared on various talk shows to promote the prototype Customers: • Clocky is still a prototype, so there are no current customers • Nanda has a list 8,000 email addresses of people who are interested in purchasing a Clocky when it releases • Nanda wants to market to customers of all ages and gender, categorized into one of two possible target groups: Fun and Need markets Competitors: • Axon Laboratories are currently working on a device called SleepSmart that wakes up owners in the lightest stage of their sleep cycle. Estimated price of $200-$300 • A small Danish company has designed a similar alarm clock to that of Clocky. This alarm clock however launches puzzle pieces across the room for the owner to find and complete the puzzle to turn of the alarm. It retailed for about $50 Collaborators: • M.I.T. Media Lab acts as guidance and support for Nanda and her innovative product • Nanda had to sign an Intellectual Property agreement that states that all patents made in the Media Lab become property of M.I.T., thus, Nanda is currently in the process of finalizing a patent and will be entitled to a royalty-free license upon graduation • Nanda has received a $45,000 loan from family to

More about Clocky Case Study

Open Document