Presentation on theme: "Montana Brown, Caroline Hallett, Abby Jessup, & Kara Malone COOL SOLAR WINDOW CHARGER."— Presentation transcript:
Montana Brown, Caroline Hallett, Abby Jessup, & Kara Malone COOL SOLAR WINDOW CHARGER
WHAT IS THE COOL SOLAR WINDOW CHARGER? Solar charger that mounts to a window and is compatible with any USB chargeable device 1300 mAh battery Regular and smaller USB input Requires direct sunlight Functional and sleek design Eliminates hassle while saving energy
CONSUMER ELECTRONICS INDUSTRY Technology industry is always changing and evolving In 2011, the consumer electronics market had a market value of $90,817.9 million and is forecasted to have a value of $104,463.3 million in 2016 Market is predicted to continue growing Retailers sell similar products, which makes it difficult for them to differentiate themselves Easier for customers to move from one retailer to another Difficult for retailers to capture and retain customer Major distributors include Best Buy and RadioShack
MOBILE PHONE INDUSTRY Valued at $13 billion in 2012 In 2011, household possession of mobile phones was estimated at 98% Extremely competitive industry Kids are surpassing all other consumer segments in penetration growth Adoption rate are being driven by kids and their parents Mobile phones are becoming an indispensable element of life Major retailers include Samsun America Inc., Motorola Inc., LG Electronics USA, and Apple Inc.
INDUSTRY TRENDS Green Technology Innovating and inventing environmentally friendly products Optimization Not Innovation People want bargains Focusing on improving current products instead of producing new products Price Cuts Forced to cut prices in order to gain the attention of buyers Text-To-Buy Mobile Cash Likely to become a method of payment in the future Electronic keys for homes and offices
COMPETITOR ANALYSIS 50,000 stores with combined annual revenue of about $100 billion Best Buy RadioShack Retail operations of Apple Technological innovation and the need to replace or upgrade products drive demand Small companies compete more effectively by offering specialized products/superior customer service Larger companies experience economies of scale
Duracell 24-Hour Power System Charger/power at home and on the go $100 System Powermat Wireless phone case iPhone 4/4s, Samsung Galaxy S III Portable backup battery A few useful products bundled together Marketing strategy
CONSUMER ANALYSIS Avid tech users interested in maintaining an environmentally friendly conscience Generation X Generation Y Millennial Continuously use technology to keep up with the latest and greatest in social media, local, worldly, and political news, etc.
PRIMARY RESEARCH 10 question survey 52 respondents Interview with an Apple employee Interview with an AT&T employee
SURVEY RESULTS 100% of respondents own cell phones Nearly 60% had never heard of a solar charger for electronic devices Only 4 respondents said they wouldn’t buy a solar window charger 39.2% of respondents said they would be willing to pay anywhere from $25 to $35 for a solar charger 60.8% reported that design and aesthetics of a solar charger would be somewhat important in their purchasing decision
SWOT ANALYSIS STRENGTHS: Technologically advanced Energy efficient Sleek design Compatible with all USB devices Compact Price WEAKNESSES: Charging time Doesn’t charge at night Only compatible with USB devices OPPORTUNITES: Target early adopters Complementary product sales More people want to be environmentally-friendly/conscious THREATS: Other companies that sell similar products The development of a new solar charger with more advanced features and capabilities