Clocky

Only available on StudyMode
  • Topic: MIT Media Lab, Clocks, Sleep
  • Pages : 1 (324 words )
  • Download(s) : 54
  • Published : October 3, 2011
Open Document
Text Preview
Clocky

Invented by Gauri Nanda, for an industrial design class, then a graduate student at MIT Media Lab, Clocky won the 2005 Ig Nobel Prize in Economics. Clocky is a brand of alarm clock with wheels, allowing it to move around in order to force you to awake in an attempt to find it. After earning her Masters Degree from MIT,Gauri Nanda founded a company, Nanda Home, to commercialize this product Cloky, and other home products. The market for watches and clocks was bigger than $7 billion in the U.S. in 2006, increased with 4% from 2005, according to the Consumer Electronics Association. It seams that the consumers were willing to pay more for design and gadgets . It is also a competition on this market but the similar wakeup products, such as the Puzzle Alarm Clock or the SleepSmart, a kind of clock that measures your sleep cycle and waits for you to be in your lightest phase of sleep before rousing you, making it more likely that you wake up perky but the price segment is different. After her project appeared online, Gauri Nanda had received emails from people around the world interested in buying, distributing, or investing in Clocky. She originally had no intention of developing Clocky for distribution. She was not convinced that the product will have success but the public push and encourage her that she had a potentially very successful product. She patent Clocky with the help of MIT and start her own business. Media have shown interest in the new device, talking about it at the radio and TV. We can see that potential customers had a good influence to her and put the product on the market. Clocky invention was like a niche product that hit two principal segments: sleep disorder segments and gadget users. An SWOT analysis can be use to define the success factors that influenced Clocky’s launching on the market.
tracking img