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Transcript of iRobot: Innovation
Managing in a Competitive Environment:
Welcome to iRobot
iROBOT, DO YOU??
Founded 1990 by MIT students
Overall Company: Autonomous Underwater Vehicle Manufacturing Industry (CIQ)
Vacuum, Fan, and Small Household Appliance Manufactoring Industry (IBIS)
*iRobot participates in several product markets
Including Security and Defense, Aquatic robotics, Healthcare Industry
iRobot's niche: Home Cleaning Robots
Released in 2013
vacuum capet, wood flooring, tiles
Top Niche Competitors
Produce line of robotic vacuums
Navabot & Tango
Neato Robotics, Inc.
Floor cleaning robots only
Thank you for your time!
Industry Success Factors...
Strategic distribution methods
Automation of manufacturing processes
Attractive product presentation
behavioral, demographic, pschographic
Target the selected segment
positioning statement: "to" "we" "what" "why"
Porter's Five Forces
Barriers to Entry
Intensity of Competitive Rivalries
Pressure From Substitute Products
Bargaining Power of Consumer
Difficult to pull current vacuum users to the robotic vacuum products
iRobot Market Share
To Stay Competitive
When:November 6th 5PM
Where: Tomasso 202
Number of attendees: 7
Targeted demographic: adult home-owners, both men and women from greater Boston area
Actual represented demographics: female college students, adult women and home owners
iRobot cleans your mess so you don't have to...
Home Robotic Niche Target Market
Income of $50,000+
Married career women
Single business men
Ages 30 to 60
Key Feedback and Findings
No set up neccessary
Cleans while you are busy
Cleans one room at a time
More battery life
Holds more debris
Dirt detect series 2
Positives: product automation, time spent doing other activities and small size for easy storage
Negatives: cleans "randomly," takes a long time to get job done, bumps into furniture
Print Ads Shown
re-design print advertisement campaign strategy
allocate more financial resources to TV and print advertisements
add new, low-cost product line targeting college student demographic
Different Price Ranges
Neato Robotics, Inc.
Tech savvy consumers
Three top competitors
Evolution Robotics, Inc. 2012
Technology for mopping and hardwood cleaning
Advanced Scientific Concepts, Inc., Pending
3D printing technology
Competition for patents
Niche market with Oligopoly
Must have engineering and robotics-related human capital
Buying power of three top firms
Difficult to establish relationships with upstream and downstream partners
Cost of equipment and manufacturing plants
Group of global suppliers
Jabil Circuit, Inc.
Kin Yat Industrial Company, Ltd.
Jetta Company, Ltd.
display devices and software
High product cost
One specific supplier
Dyson, Oreck, & Electrolux
Easily switch back to
Clean the dirt customer sees
Cleans throughout busy days
Pick up constant pet hair
Can program a schedule
Easy switch to direct and indirect competitor (same price)
iRobot's innovation and business-class target market sets them apart
Innovate, Innovate, Innovate!
Acquire new technologies
Adapt products to customers' desires
Set company apart through value added features
Design and produce robots to make a difference
Main line: Home cleaning robots
TO busy career people
WHAT? Clean your mess so you don't have to,
WHY? Because we understand you don't have time to be worried about dirt.