PROPOSAL - EARPHONES (Wave)
Name
The name of our wireless earphones is called Wave. It means the one and only highest quality of sound waves, as soothing as the sea waves through the smallest device ever.
Logo Design
The logo represents the alphabet ‘w’ in the shape of tidal wave. It is a mark of constant progression as tidal waves do not stop rippling even when the sea is calm and quiet. Apart from that, it represents the desire to strive for betterness, to achieve bigger goals and to innovate in the future as time goes by. The first curve stroke represents ideas that are crafted out with positivity to make our innovation ‘right’ for our users. Hence, it resembles a small check mark symbol. Next, the middle point of the ‘w’ is made sharp to represent our products are always at the peak of perfection for our users. Lastly, a bigger “checked”’ mark symbol means that our products made from the right idea will guarantee our users satisfaction. Noticeably, the last check mark symbol has a longer finishing stroke, which represents endless possibilities of ideas and innovations that we wish to continue pushing our products to unlimited boundaries and generating a long-lasting relationship with our users at the same time.
Unique Selling Point (USP)
Our product will be sweat proof, and non-slip even when contacted with sweat.
Defined Target Audience
- 18 - 25 Youths and Young Adults
- Sports Enthusiasts
Swot Analysis
Strengths
Wave earphones are the latest wireless earphones incorporated with state-of-the-art features for young sports enthusiasts. It comes with a 30-hour battery life and is compatible with iOS, Android and Windows. They fit in the ears snugly and would not fall off when the user is working out. Besides, it is sweatproof and waterproof. It comes with a microphone and flashing light. Users can also tap to command. Additionally, it can store songs. Replacement sets are available.
Weaknesses
Wave earphones do not come with activity tracker like the Samsung GearX. It has a limited storage that can only store up to 500 songs. Besides, Wave earphones is not eco-friendly. Charging is required before use and there is no fast-charging feature. It is also not shockproof. For the safety of the users, the earphones do not cancel out noise so that users can still listen to their surrounding when they are exercising outdoors. The largest setback for this pair of earphones is that it comes with a high price, RM388.
Opportunities
Opportunities for Wave earphones include expanding into new niche markets and overseas market. Business opportunities in countries in the Southeast Asia region can bring about growth and expansion. Besides, Wave earphones can target new niche markets such as travel junkies, artists and creatives, and eSports gamers. In addition, we can extend our product line to include speakers and headphones. Collaboration with other sports brands such as Adidas and Nike is possible also for new innovation on the technologies as well as the appearance.
Threats
One of the threats for Wave earphones is the ever-changing fast paced technology. Wave earphones could be eliminated from the competition if we cannot keep up with the advancement. Moreover, copycats may copy Wave earphones and produce knock off versions in a cheaper and faster way.
Competitor Analysis and Product Positioning
Advertising Campaign Tagline
“The Next Wave Is Hear”
Suggested Pricing
At the price of RM388, we strive to offer the best of both worlds in terms of quality and pricing. Comparatively, our products are much reasonable in pricing in comparison to those of Apple Airpods & Samsung Gear X, which stands at an astonishing price of RM700 and RM877 respectively. In addition, our products are also built with higher quality in comparison to the Adidas Performance by Monsters, whose quality has left a lot to be desired.