Nanda Home Case Auysis - Essay Example

Nanda Home Case Analysis Describe how Gauri Nanda launched her business? What was her proof of concept for her product? How did she obtain the initial funding for the company?Gauri Nanda launched her business through free publicity that she had gained from websites, online bloggers and mainstream media, over the clocky product she had developed and retained in her closet without any thought of further advancement into commercializing the product. Therefore, she launched her product through websites, online bloggers and media, which actually popularized her product and introduced the product to many potential customers, who wanted the product before even it was manufactured.

This in a way forced Gauri Nanda to look for a manufacturer, where she settled on a Hong Kong manufacturer and started manufacturing the product. The proof of concept for her product is that the product effectively and efficiently fulfills the need of the customers. The runaway alarm clock forces an individual out of bed, through its random movements in the room, after it jumps off the bed stand when an individual presses snooze on the alarm clock. The concepts works because an individual must move out of bed and look for the clock so as to stop the alarm; otherwise it cannot allow the individual to continue sleeping, since it will keep ringing the alarm sound, while moving to different parts of the room.

Initial funding She obtained the initial funding for her company through (angel capital); borrowing from her family to a tune of $80,000, which she repaid later after the business started running and earning income.2. What retail channels did Gauri Nanda select and why? How was she able to tell if the channels were working? What changes if any did she make over time?Gauri Nanda selected online retail channels, through which customers can order the product. She was able to tell whether the channel was working, through customers’ response.

The initial sales that were made allowed the company to break-even within the first two months. The company sold 500 units of the product almost immediately after manufacturing through the online retail channel. Changes made Gauri Nanda made changes to the retailing channel over time, through introducing physical retail locations. The company has now also adapted physical store locations, where the product is being retailed in boutiques and other retail stores.3. How did Gauri Nanda start building her brand?

What advantages did she have in terms of how she was able initially to publicize her business? What advantages did she have as an entrepreneur regarding the association between herself and her product?Gauri Nanda started building her brand through giving it a recognizable and memorable name and making it more appealing to the people, while also giving it features that were suitable for its functions. Such features include the wheels that allow it to roll over and move around the room, prompting an individual to move out of bed and look for it.

Another feature is the embedment of shock absorbers, which prevents the alarm clock from damaging, once it rolls on the floor and hits other items in the room during its movement. The association between herself and her product gives her an advantage, since she had already been popularized by the mainstream media and online bloggers, way before she availed the product, thus building the product’s name around her popularity.4. Why do you think Gauri Nanda selected the name Nanda Home for her business?

What does the name imply about the product range of the company? What are her aspirations regarding the possible future of the company?Gauri Nanda selected Nanda Home as the name of her company, since it would be more memorable and also easily associated with her popularity, and success of her product. The name implies that the product range of the company are home-based, thus focusing on availing desired home products. Her aspirations are to expand her company beyond the clock products, and avail many other home electronic products that solve the major basic household concerns.5. As Gauri Nanda continues to build her business, what would you recommend as her strategic directions in product development?

What is her present range of products offered? How might she change, diversify, differentiate, expand or revise her strategic direction through her products offered and the brand identity?I would recommend a specialization in household products only, since this will build the company a niche market comprising of household customers, as opposed to engaging in broader spectrum of products, which will generalize the company’s image. Specializing in household electronic product will be a differentiation strategy for the company, while also acting as a strong marketing strategy that will reinforce customer loyalty.