Innova Technology: Seeking a Market for Anti-loss Devices
This case is the first part of a two-part series on Innova Technology. Case A is set in May 2012, when Rick Tan, CEO of Innova Technology, a technology start-up company based in Singapore, is deciding a go-to-market strategy for PROTAG, a new anti-loss device. Through Bluetooth technology, this credit-card sized device could be attached to valuable personal belongings and synced to a mobile phone, alerting the owner of its loss or theft.
With just one chance to get it right, Tan had to decide on the most appropriate go-to-market strategy for the first 5,000 pieces of PROTAG: Which market segment(s) should he focus on? Should he use multiple sales channels or stick to just one? Which was the most appropriate channel for his product? What price should he charge?
Case B is set in November 2012, two months after the launch of PROTAG, a new anti- loss device. After a highly successful product launch which targeted customers in the travel segment, CEO Rick Tan is contemplating his company’s growth strategy. Despite the high commissions charged by distributors, Tan decides to use this channel to market his product.
Yet Tan once again finds himself at a crossroad. What should his company’s next steps be? Should there be a next generation PROTAG? Does his company have the capacity, capabilities and skill set to take their product beyond Singapore and Asia? How else can he grow his business?
This case series is about developing, producing and marketing a product innovation. It is particularly suited for understanding challenges faced by young start-ups who have the onerous task of building a name, reputation and a market. A good product does not sell itself, and this case discusses some of the key ingredients required to make a start-up successful and scale.
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