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Keys to Success for Keys to Success for Innovative New Mobile DevicesInnovative New Mobile Devices– Perspectives from immrPerspectives from immr
September 2010
Dr. Phil HendrixFounder and Director, immr and GigaOm Pro Analystwww.immr.org1 (770) [email protected]
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Getting the Product Right – at the Right Time – is Challenging
Exuberant
Expected/ProjectedDemand
Realistic
Modest
Few Buy
Slow toRamp Up
Sales “Take Off,” Viral Demand
Actual Demand
Type 2 Error: Overly Pessimistic View– Market Takes Off
Type 1 Error:Overly Optimistic Projections– Market Doesn’t Materialize
Failure, Losses
Missed Opportunity
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Companies and Customers Add to the Challenges…For Companies Introducing New-to-Market Products
Ü Expectations often unrealistically high within client team, among executives
Ü Considerable speculation, even hype, among industry analysts and observers
Ü Significant investments, big bets, and reputation often at stake
Ü Launch and results closely watched within the company and in the press
For Customers of New-to-Market Products
Ü For “really new” products, understanding, even classifying, difficult
Ü Information about very new products is often fragmented and conflicting
Ü Understanding the features and benefits, comparing options can be onerous
Ü Initially, availability may be limited, requiring extra effort to purchase
Ü Being an “early adopter” can be risky
Ü Customers expect prices to drop over time Ü more costly to buy early
“Marketing often exaggerates the likely growth for a technology or service - adoption typically takes longer.” John Carey, CITI
"Unlocking [the potential] is proving more difficult than early entrants might have thought." Joe Laszlo, Jupiter Research
"Predictions are hard, especially when they are about the future." Yogi Berra
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Mobile Internet Devices – Blending, Converging, Competing
Sources: Adapted from In-Stat/Texas Instruments Presentation, Mobile Internet Devices – Market Overview
Consumer Electronics
Feature Phones
Mp3 players
iTouch
PNDs
ebook Readers
Notebooks
Netbooks
Cell Phones
Smart Phones
Super PhonesTablet PCs
Smartbooks
Wireless Computing
UMPCs
iPod
iPhone
Kindle
SIP Phones
“The iPhone does all the things a netbook lets you do.”Steve Jobs, 10/22/2008
“In the future, all computers will communicate and all communication devices will compute.” Paul Otellini, Intel, 4/19/2002
“Predictions are hard, especially when they are about the future.”
Yogi Berra, n.d.
Dr. Phil Hendrix, immr
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Keys to Success for Innovative New Mobile Devices
Create excitement for new products
Make new products indispensable
Grow the category
Minimize cannnibalization
Trigger a “virtuous cycle,”avoid the vicious cycle
Cultivate , Nurture the Ecosystem
CreateCompellingNew User
Experiences
Hit the Sweet Spot on “3P’s”
AvoidProduct-centric
Traps
EnableSeamlessMobility
• Precise targeting• Optimized for use
cases• Clear differentiation,
positioning
• Instant on• Embedded 3G, Wi-fi• Affordable 3G• Flexible pricing
(subscription, use)• Cloud-based services
(cross-platform)• Mitigate data
restrictions
• Drive development of apps optimized for device
• App store(s) for devices• Make social media part of
the DNA• Create compelling
advertising/branding• Optimize for one or more
apps for which device uniquely well-suited
• Cross-platform interoperability (smartphone – PCs)
• Care for security, privacy• Bundle key services (photo
sharing, etc.)• Connect to “Connected
homes,” vehicles• Promote peripherals,
ancillary services• Create a retail experience• Embrace emerging platforms
(LBS; AR; etc.)
• Price• Performance• Portability
ýCommodity pricingýFeature creepýOverlapping subcategoriesýConfusing end-usersýUnder/over-shooting on
performanceýAvoid “buyer remorse”
Key Drivers
of Success
Dr. Phil Hendrix, immr
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immr Research on New Mobile Devices
Here are links to forthcoming and recent immr research on Mobile Devices:
v If we build it, will they come? Consumer Demand and Preferences for Tablets in the iPad Era, to be presented at the iPad and Tablet Conference, Oct. 6, 2010, San Francisco. http://www.ipadandtablets.com/index.php (for more information, contact Dr. Phil Hendrix at immr)
This presentation summarizes the results of market research examining consumers’ preferences and propensities to buy tablets. Using Choice Modeling, we examine a wide range of Tablet features and configurations, showing (i) which features are “must haves,”(ii) appeal and demand for various configurations, (iii) price elasticity and other important insights. We also discuss the implications for OEMs hoping to capitalize on this phenomenon and emulate the iPad’s success.
v The M in MIDs Stands for Mobile, immr Thought Leader Survey on Mobile Internet Devices, 2008 (study co-sponsored by GigaOm, GSMA and InMobile). Download at http://www.immr.org/1/immr_mids_summary.pdf
v Consumers’ Perspectives on Mobile Internet Devices, excerpts from Qualitative Research. View excerpts at http://www.immr.org/1/MIDs/MIDs.htm
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About immrSweet Spot New-to-Market (NTM)
Products, Services and Business Models
� We help companies understand and capitalize on the crucial, vexing question –“how can we identify, anticipate, and predict what customers will value and buy?” even when they have yet to experience it.
Focus ICT (Information, Communications, and Technology); Healthcare and Insurance
� We work primarily with companies leveraging new technologies and business models and can (usually) translate products described in arcane, technical terms and jargon into realistic concepts.
Markets Consumer and B2B � We conduct research in consumer as well as B2B markets.
Experience Our Clients � We work with both market leaders and emerging companies, typically on an on-going basis. This allows us to understand their business and contribute more fully.
Issues We Address � While our focus is on innovation and marketing, we often address closely related issues (e.g., segmentation, positioning/branding, customer retention, etc.)
Project Scope � Our projects vary in scope from small, exploratory research to large, multiple-phase projects that combine qualitative, quantitative, and market trials.
Methodologies Qualitative � Although qualitative research is by nature subjective, clients find our approach, style, and results highly effective. While we do traditional focus grous (typcially mini-groups), in most of our projects we conduct highly revealing, in-depth, individual (IDI) interviews.
Quantitative � We employ a combination of rigorous quantitative research tools developed for and uniquely well-suited to new-to-market and new-to-customer products, services, and business models
Delivery Collaborative, client-focused
� We work closely with clients to (i) leverage their capabilities, (ii) adapt as new learning, issues, and imperatives emerge; and (iii) help them succeed.
Value-add Perspectives, Insights, and Recommendations
� As researchers with a “consultant’s perspective,” we believe that understanding and anticipating prospective buyers’ behavior are key to successful innovation. In addition to the research findings, we add significant value by contributing insights, ideas, and recommendations and facilitating dialogue with client teams.
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We Help Clients Verify and Capitalize on Market Opportunities
Uncover Customer
Needs,Competitive
Vulnerabilities
Determine Optimal
Features,Pricing,
Positioning
What market opportunities exist?
What adjustments are needed to achieve success?
Whichmarket
opportunitiesshould we
pursue?
What is the winning product/marketing strategy?
Verify Market Assumptions,
Validate Execution,
ROMI†
†Return-on-Marketing Investment
Size Market Opportunity,
PrioritizeTarget
Segment(s)
DataInsights
Experience
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Dr. Phil Hendrix – Bio
Dr. Phil HendrixDirector, immrwww.immr.org+1 (770) [email protected]
Dr. Phil Hendrix is the founder and director of immr, a research and consulting firm focused on “very new” product and market opportunities, and an analyst with GigaOm Pro. He specializes in helping organizations identify, verify, and capitalize on opportunities for products that are new-to-customers and very often new-to-market. Dr. Hendrix has developed perspectives and research-based tools to uncover customers’ unmet needs, reveal hurdles slowing adoption, trigger interest and accelerate purchase, and determine features and pricing to maximize market penetration. He has extensive experience adapting and applying research approaches, both qualitative and quantitative, to amplify weak market signals and help clients innovate successfully.
Phil has led significant engagements with numerous startups (such as Company.com) and multiple business units of Fortune 100 clients in telecommunications (AT&T, Verizon, Sprint, Sony Ericsson, and others), financial services (American Express), transportation (UPS), insurance (Allstate, United Healthcare), healthcare (Meridian Health, US Oncology), and others. He has worked closely with senior management and client project teams on issues ranging from “traditional marketing” (segmentation, positioning, branding) to innovation, user experience, and customer retention. Over the course of his career, Phil has helped clients conceive and successfully launch dozens of new products, businesses, and brands. He has extensive experience in B2C and B2B (SMB) markets. He is also a frequent speaker at industry and academic conferences.
Phil brings a unique combination of academic rigor, strategic perspective, and hands-on experience to his work. Before founding immr, Phil was a partner with DiamondCluster (strategy and technology consultancy), founder and head of IMS (Integrated Measurement Systems), and a principal with Mercer Management Consulting. He has held faculty and research positions at Emory University and the University of Michigan, where he taught courses in research design and analysis, buyer behavior, and marketing strategy, and the Survey Research Center at U. of Michigan. After receiving his PhD in marketing from the University of Michigan, Dr. Hendrix completed post-doctoral studies in applied statistics and mathematical psychology.
Overview and excerpts from Phil’s recent publications are available at Slideshare (www.slideshare/pehendrix), with additional information available at www.immr.org and GigaOm Pro.
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Experience
Selected Clients with Whom We’ve Worked
Products, Services and Issues Examined
General Network/Operators Devices/OEMs Services/Apps
§ Market Segmentation§ Market sizing§ Competitive Positioning§ Branding§ Product configuration
§ Bundling§ Plans and pricing§ Wi-fi/Hot spots§ Customer Service/
Self-Service§ Customer Retention§ Web Interface
(functionality/usability)
§ Smart phones§ MIDs (Mobile Internet
Devices)§ Channel strategy§ Promotional strategy
§ Innovation and new product development
§ Mobile Apps (wide range)§ MVoIP (Mobile VoIP)§ Location-based Services§ Unified Messaging§ Speech Recognition
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Recent PublicationsExcerpts available at www.slideshare.net/pehendrix Copies available at http://pro.gigaom.com/
