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Instacube Marketing Plan

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Kelly McLaughlin

on 24 October 2013

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Transcript of Instacube Marketing Plan

Group 2
Instacube Marketing Plan
Internal Environment
External Environment
Macro Environment
Company Profile
Current Mission/ Vision Statement: None
Competitive Review
No Direct Competitors
1. Situation Analysis
2. Marketing Objectives and Strategies
3. Marketing Plans and Programs
4. Financials
5. Conclusion, Recommendations andNext Steps
Situation Analysis
Key Issues and Opportunities
Marketing Objectives and Strategies
Mission Statement/Vision Statement
Marketing Objectives
Marketing Strategies
Target Market
Marketing Plans and Programs
Positioning / Product Name
Product Range and Size
Integrated Marketing Communication Elements
Conclusions, Recommendations and Next Steps
Next Steps
Product Line
Heather Arcuri Delicia Macpherson
Kelly McLaughlin
Organizational Background
Designed by Design to MatterDesign work done in Silicon Valley Supply Chain and Manufacturing work done in Hong Kong Partnered up with Kickstarter and SmartThings
Current Status
Ended Kickstarter with 3,424 backers and $621,049Plan to launch product in second quarter of 2013Technical specifications:ARM Processor4GB Flash Memory 256 MB RAM7.5'' Square Frame with 6.5'' Square LCD Touch Screen 600x600 Screen Resolution Built in Wifi Operates on the Android OS
Constantly evolving worldQuick and nowNo need to carry a separate camera Electronic Photo Albums
Macro Trends
Digital Frames sales downHow photos are viewed2011 Connected Experience Survey: Photo viewing is in the top 5 Digital photography
Percentages of Internet users who are Instagram users:27% Between the ages of 18-298% Between the ages 30-496% Between the ages of 50-64About the same number of men and women internet users say they use Instagram
Customer Profile
Someone who is into technology
Already an Instagram user
Both men and females
Between the ages of 18 to 29
New way to enjoy InstagramHome, office, or anywhere with a wireless connectionSimplicity of Instacube
Indirect Competitors
Sony, HP, Insignia,Axion, and Coby
Digital frames run $40 to $170Frames that are $200 feature:VideoSlideshow modeMusic1200x1200 resolution
Strengths:-Instacube updates feeds frequently.-Instacube is easy to use for all users.-Allows you to customize outside skin-Design to Matter Raised more than enough funding for project on kickstarter.com. Asked for $250,000 received $621, 049. -Instacube shows pictures from you and your followers.-The picture resolution is much higher than viewing on phone. -600 x 600 LCD screen. - 7.66 in x 7.66 in x 2.5 in-4 GB memory-Wi-Fi-Interactive Device-Users can like a photo any photo.-Easily Located Power Button-Syncs from Facebook and Instagram apps directly from your phone
Weaknesses:-You don’t get all of the functions you would if you used the app-The price of Instacube-($199)-Users Cannot save photos that you like.-Availability of Instacube is only through certain websites.
Opportunities:-Ability to save or print pictures directly from your feed. -Keyboard to be able to comment on pictures.-Ability to use all of the apps functions that Facebook and Instagram have to offer.-To be able to customize your feed from your own pictures or others for any occasion.-The ability to hook up to your computer and be able to sync pictures. - Memory Card Accessible or USB port-Wall Mount option
Threats:-The user base for Instagram demolishes-Competitors/Similar Products-Bad Economy.
Major Competitor - Sony
Strengths:- A well establish brand name- 10.1 inch widescreen LCD digital photo frame - Comes with remote to change picture- CD-ROM capable to play pictures- 1024x 600 pixel resolution- 1 year warranty- 7” x 10.2” x 1.1”- 2gb internal memory- Memory card capable- Slideshow mode- Background music- USB port- Clock and calendar playback
Weaknesses-On the expensive side( $169.99)-Only pictures that you upload to a cd or memory card-Not a current constant upload of pictures-Not wireless
Opportunities:-Touch Screen- Wireless
- Competitors
- Economy
- No need for these products for the consumers
Key Issues
Instagram user base vanishes PriceAvailability
Save and print pictures
The ability to share a picture
Customize feed
Sync with pictures saved on computer
Memory Card or USB outletWall mounted
Mission Statement
Instacube is an innovative approach to take photos from your smart device and feed your favorite images wirelessly to a device that projects the image at 3 times the size. Photos deserve to be big and beautiful and shared with as many people as possible, and Instacube captures that concept with their “ Living Canvas” approach. It is a unique experience you and anyone around can enjoy. You are free to effortlessly enjoy, display and show off your beautiful Instagram’s anywhere you want all day long. By using its wireless capabilities it is easier than ever to sync from any device and anywhere that you have a connection.
Vision Statement
We strive to make your experience with Instagram the most unique way possible. Not only do we believe that consumers will enjoy the sharing of Instagram in their home or office but we believe as a business owner that Instacube can be a powerful and innovative tool to communicate with customers. It will take brand building to a whole new level for your company’s products or services. We plan on integrating SmartThings to make the Instacube smarter. Instacube will become a part of your everyday life, and will be used for many different function then just photo sharing. We will take Instacube to the next level of innovation, and it will become something that no one has ever seen before.
Ease of use
Not Trendy
Product Name
No need for change
Instacube XL
Larger screen
Wall mounted Instacube
SD slot/ USB drive
Build brand awarenessReach target marketCreative an interactive relationship with customersIncrease salesUse a variety of distribution channelsCreate a strong brand image
Build Brand Awareness/ Interact with CustomersProductive social mediaCreate a Strong Brand Image Video blogs BillboardsIncrease Sales and Use a Variety of Distribution ChannelsCreating a WebsiteCRM database
Ages 18 to 29College StudentsCorporations
Website Design
Getting your Instagram photos off your device and into the real world is the huge challenge in the tech world, and Instacube is the latest and best way to do it yet. This Wi-Fi enabled photo frame sports a 600x600 LCD touch display, three buttons — one for power, one for toggling between feeds, and one for liking the current photo — an internal Lithium Ion battery so you can move it wherever you want, and a dead-simple three-step setup process. Perfect for gazing at a live stream of your friends' photos, or vainly admiring your own smartphone camera prowess. So square but so cool, the Instacube is a funky new gadget that enables a whole new photo viewing and sharing experience for Instagram. With the ability to display pictures as they happen in real time, this wireless device with lithium rechargeable battery can be enjoyed at home, work or play. For $199 Instacube can be yours! Go to www.instacube.com for more information!
Social Media
Updating:Facebook TwitterInstagram LinkedIn
For the Year 2013Instacubes Units Sold: 48,000 Instacubes Unit Sale Price: $199 Total Revenues: $9,552,000COGS: (about $80 pp.) $3,840,000Gross Profit Margin: $5,712,000Expenses : Admistrative/Warehouse/Rent $ 500,000 Direct Labor Net Income before marketing expense: $5,212,000Marketing and promotion expenses: $122,475Net Profit: $5,089,525
Online MarketingGoogle Ad words:$4,650 Facebook Ads:$2,825 Website Redesign:$2,500 Social Media:$0 (in-house) Traditional Marketing: Ads in Tech Mag.: $5,550 Ads in Business Mag.:$6,950 Billboard: $100,000Public Relations: $0 (in-house) Total:$122,475
Keys to Success
Understand the risks that are involved with Instagram Technology changing rapidly
Key Issues
Focus efforts on target marketCreating brand awareness Increase productivity
Targeting the right market:Free standing but having the option to wall mount itAccess pictures from a computer Lower the price
Create a social media campaign Advertising campaign The recommendations we have made
1. Situation Analysis
2. Marketing Objectives and Strategies
3. Marketing Plans and Programs 4. Financials
5. Conclusion, Recommendations andNext Steps
Google Ad Words
Times Square Billboard
Public Relations
Full transcript