New Product Launch

Ambitlocker was the newest digitally controlled lock for convenient, reusable and remote security. The product was ready but the client had questions on the best go to market strategy.

Customer Growth

  1. Where could they generate leads/sales?

  2. Where was the biggest market need?

  3. How to establish trust with clients?

What Clarity did the Client Need?

Pricing

  1. What should initial launch price be?

  2. Should there be bulk pricing discounts?

  3. Should there by dynamic pricing?

Marketing

  1. Where should marketing be done?

  2. What was the target audience?

  3. How much should they spend?

Client Defined Success Metrics

  • Possible success metrics:

    1. New customers reached

    2. Reduced costs

    3. Increased revenue

  • Projecting timeline of results

  • Comprehensive review of current business

My Approach

Market Research

  • Competitive analysis

  • Changing consumer trends

  • Gathering customer feedback

  • Forward looking opportunities, playing offence instead of defense

Action Plan Proposal

  • Provide strategic recommendation and timeline

  • Present evidenced based approach

  • Identify risks and mitigation

Pilot Kickoff

  • Launch initiative on small scale, proof of concept

  • Weekly review of results and metrics

Review Results/Evolve

  1. Review learnings from Pilot Kickoff

  2. Determine phase 2 feasibility and timeline

  3. Implement improvements and changes

Customer Growth

  1. Where could they generate leads/sales?

    1. Past users of their products as well as trade fairs

  2. Where was the biggest market need?

    1. Hospitals, schools, gyms and other facilities where lockers were used by different users

  3. How to establish trust with clients?

    1. Demoing the product and initiating a trial period

Providing Answers to the Client

Pricing

  1. What should initial launch price be?

    1. 18% profit margin of their cost of producing

  2. Should there be bulk pricing discounts?

    1. Yes a discount was offered to clients purchasing in bulk

  3. Should there by dynamic pricing?

    1. Dynamic pricing was not offered as it would complicate and confuse buyers

Marketing

  1. Where should marketing be done?

    1. Direct to consumer with demos

  2. What was the target audience?

    1. Procurement and Operations leads

  3. How much should they spend?

    1. 10% of their available cash flow would be allocated to marketing