For most people, how one wakes up defines his or her day. Sleeping in too much and getting a late start on the day sets a bad tone. Too often have we all missed tests, appointments, classes, presentations, and more just because we slept through our alarm or kept ‘snoozing’ through the morning. Well with Clocky, those days are no more. Clocky is the walking alarm clock made for those who have a tough time waking up in the morning or for those who just want to add some excitement to their morning routine. Clocky starts off as a simple alarm clock resting on one’s bedside and goes off at whatever time the user sets it to. What differentiates Clocky from those other alarm clocks on the market is that after you hit the snooze button (which you do of course), Clocky runs away and moves around your room until your snooze time is up, at which point it begins loudly ringing and flashing its lights. This time you can’t just reach over and shut it off, because it’s not there. Rather you, or the user, must get up, find the clock, and shut it off yourself, thus leaving you up and awake. And to add to the pressure of getting up and out of bed, Clocky’s random and varying ring gets louder and louder the longer you wait to shut it off.
Clocky is a new and unique product designed for younger people with the energy and willingness to get up in the morning and find their alarm clock. It is intended for those heavy sleepers who just can’t seem to wake up, and keep hitting the snooze button on their clocks, as well as for kids or those just looking for a fun way to start their day.
Clocky features a strong, durable casing and heavy duty shock absorbers and wheels that allow it to fall off any desk or bedside table with no damage, and roll around on any surface with no problem. Its unique microprocessor insures Clocky moves randomly so you can never predict where it will be, and helps Clocky navigate around obstacles. We aim to have Clocky helping millions wake up every morning, first in the Greater Toronto Area, then all of Canada and beyond, and to develop a well known, well liked, and quality product. Our primary short-term objectives are to, first build awareness of Clocky around the GTA, and second to reach a 3.5% share of the alarm clock market in the GTA within our first year of operations. We plan to achieve these objectives through the innovative design of our product, an aggressive pricing strategy, direct as well as indirect product placing, and well designed promotional events.
The Three C’s
Toronto is the financial and commercial center of Canada. It is also the host city to several major universities including the University of Toronto, York University and Ryerson University. Therefore, the residents in Toronto are mainly employed people and students who need to wake up on time in the morning. Employed people have considerable amount of disposable income while students are poorer and more price sensitive. Our main customers are heavy users of alarm clocks, i.e. heavy sleepers. This commonly includes students, young working adults, shift workers and travelers.
The main competitors of our product are conventional alarm clocks and digital devices such as MP3 players, cell phones, and computers equipped with alarm functions. Although the competition in the alarm clock market is substantial, our product design and concept is new in Canada. Barriers to entry are relatively low, despite patents, but start-up (R&D) costs are quite substantial and it would take competitors some time to design and develop similar products.
The product has been launched with our partner CASIO and will feature the CASIO brand name alongside Clocky Inc. Relying on the advanced R & D department of CASIO and the mature technology of CASIO clocks, we intend to design and assemble a walking alarm clock, which is solid, safe, user-friendly, and cool.
Situation Analysis (SWOT)
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