Clocky - Case Study
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Clocky was an innovative alarm clock invented by Gauri Nanda that could roll away and hide to force users to wake up. It was a technological breakthrough but faced challenges. It was more expensive than typical clocks at $50. Introducing Clocky through larger stores for more publicity and lowering the price earlier may have helped it succeed against competitors in the US clock market.
Clocky - Case Study
- 1. GROUP MEMBERS • ROHIT DHOUNDIYAL • PRASHANTH PATIL • ROHIT KOLI • MANGESH DHONGADE • OMKAR PATIL • NETRAJ PATIL • BHAVESH KHANE
- 2. CLOCKY – CASE STUDY INTRODUCTION : • Clocky - The runaway clock, made by Gauri Nanda. • One of the best technological breakthrough in clock business which revolutionized the market. • The last innovation that changed the clock business was made by General Electric – Telechron in 1950’s.
- 3. Contd. • Clocky spread like a virus in the United States market. • There was a large number of following of people towards clocky. •It was just like an iPhone providing both function as well as fun.
- 4. SWOT ANALYSIS • Strength Design of the clocky is very unique as compared to other alarm clocks. It has been outfitted with wheels which cannot be found in any other alarm clocks. Every alarm clock has a function which is all the same. But clocky has a function which is different from other clocks. It allows itself to hide in order to force the owner to wake and find it. Technology used in clocky was new to each and every person. Even to those clock companies which were clocky’s competitor.
- 5. Contd. • Weakness Price of clocky is very high as compared to other clocks. Nobody would waste $50 for a clock which they can get at just $10. Quality of clocky was a big concern for both Gauri Nanda & consumers. Clocky was made of plastic or chrome body which can be easily broken. Gauri Nanda was stuck with small shops and speciality boutiques to sell clocky. Not much of publicity.
- 6. Contd. • Opportunities As Elie Ofek said that people had intimate relationship with their clock, but they generally hate it. Because they put the snooze button on to get extra sleep. Clocky managed to change this behaviour. Clocky was altogether a new product which was never been made before. So Gauri Nanda had an opportunity to attract consumers to buy clocky.
- 7. • Threat Contd. Clocky had many competitors in the market, which made it a threat to Gauri Nanda to launch it. ` High price of clocky was a big problem as people wouldn’t buy an alarm clock that would cost them $50.
- 8. SOLUTIONS • Price There are different pricing methods through which price of a product is fixed. Clocky fixed their price at $50 which was very high. They lowered it after they saw fall in sales. This problem would have been easily solved if Gauri Nanda has lowered the price of the product in the first year itself. • Quality Clocky is made of platic or chrome material. These materials can be easily broken on impact or shock. A new material at cheap price should have been used to manufacture clocky. This would have also reduced the cost of clocky.
- 9. • Market Contd. Clocky was first introduced through small stored & speciality boutiques, which didn’t do enough publicity of the product. As people with high income source mainly go to mega stores which are mainly in malls would have done easy publicity to major population. • Flattened Sales The sale of clocky was flattened because of its high price. If the price was reduced in the first year itself, then the sales would have increased. Introducing new product line would have also increased sales.
- 10. Contd. • Revenue Introducing new product line could also increase the company’s revenue.
- 11. CONCLUSION • Clocky created a benchmark in the market because of its features and design. • If Clocky would have taken right decisions before hand , then their growth wouldn’t have been limited. • Solutions given in the above analysis could have helped clocky to secure top most position in The United States Clock market.