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Charmed Technology Wearable PC

Charmed Technology Wearable PC. Amit Metser Andrea Aimi Ari Fudim Mohit Wadhwani Sandy He. Agenda. Problem Definition Situational Analysis Alternatives Recommendation Implementation Q &A. What is the CharmIT?. Who is Charmed Technology? Spinoff of MIT Media Labs in 2000

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Charmed Technology Wearable PC

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  1. Charmed TechnologyWearable PC Amit Metser Andrea Aimi Ari Fudim Mohit Wadhwani Sandy He

  2. Agenda Problem Definition Situational Analysis Alternatives Recommendation Implementation Q &A

  3. What is the CharmIT? Who is Charmed Technology? Spinoff of MIT Media Labs in 2000 Final development stages of the CharmIT - the1st wearable computer designed for the consumer market. Optimized with peripheral input and display unit No formal Marketing plan to date! Need to determine next steps

  4. Strengths Technological capability Unique brand promotion Sleek Design Cheaper than industrial wearable PC Potential of Nanix OS Weakness Focus is too broad Promotional activity is inconsistent/ineffective Undifferentiated Offering Group Oriented Dependence on peripherals Internal Issues

  5. Opportunities Wireless infrastructure improving Wearable computer market expanding Height of technology bubble – consumers are accepting of new technology Threats Lack of Widespread wireless technology Availability of Substitute products Social Acceptance? Privacy issues? High technology growth pattern External Issues

  6. ProblemDefinition Given that Charmed’s goal is to penetrate the mainstream consumer market: Is this the most appropriate time to hire a sales and marketing team? How should the CEO of Charmed best allocate resources to maximize growth and remain within budgetary constraints.

  7. Alternatives Hire a Sales and Marketing team immediately Focus on Development

  8. Alternative 1- Hire a Marketing Team • Only get one chance to release product. • If Charmed delays deployment, gives potential competitor opportunity to penetrate market • Developing for who? • Need to maintain “innovator” status • Increased sales will allow for increased R&D budget.

  9. Alternative 2 – Don’t Hire • Focus on better developing product to create a more differentiated offering. • Wait for AR and other specialized software to create “wow” factor • Establish partnership agreements with firms as potential users • Sell product online (multiples of 5) • Prices can remain high

  10. Decision Criteria

  11. Recommendation:Do Not Hire Marketing & Sales Team at This Point in Time Focus on additional development to create a differentiated CharmIT offering Partnershipswith defined markets exhibiting immediate usage potential (wall street, university, gamers etc.) Continue on-line selling (in 5’s) Develop method for obtaining feedback Will allow for creation of New market through emphasis on function-specific software

  12. Implementation • Create promotional pricing strategy • Outsource peripheral development • Allocate development resources as follows:

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