WONDERCUBE MARKETING PLAN

WonderCube Marketing Plan

Hamas Amray, Zoya Khan, Johnny Bayona, Dakota Denton, Ranj Agha

University of Texas at Dallas

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WonderCubes mission is to be the worlds smallest cellphone accessory in a one-inch

cube. We seek to provide the ultimate best not only to our customers but also to our employees.

We firmly believe if our customers and employees are pleased, our company will strive! We

strive to do business the only way we know, ethically.

Our SMART goal is to sell a minimum of 100,000 units within a year of being on store

shelves and online retailers. Our company has created plans to assure that we can overcome any

foreseeable obstacles to reaching our goal.

Our company customer satisfaction holds a high priority. We want a customer satisfaction

rating of 100%. If for any reason our product is in any way defective the customer needs to

contact our excellent team of customer service representatives and they will send out a

replacement free of charge if necessary. We want our customers to absolutely love our product

and if in any way they are not completely satisfied our employees will make sure to resolve any

issues immediately. We want to make sure that our product is continually evolving with the needs

of our customers, thats why we highly encourage customer feedback.

At WonderCube we use the top of the line metal to make sure that your one-inch cube

does not get any damage. We truly believe in quality materials and we can guarantee each and

every customer that their cube will have the best quality parts available on the market.

We recognize the significance that employees have in a company. Making sure our employees

are well taken care of is one of our main priorities, we provide excellent opportunities and

unique experiences that cannot be found in any other company! We want our staff to grow with
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us as our company continues to grow. We value them highly and ensure their working conditions

are kept to an exceptionally high standard!

WonderCube manufacturing facilities in other countries have to obey the United States

labor laws. We treat our employees fairly and ethically and do not promote child labor,

unsanitary factories, or long work hours under any circumstances. As a company we want our

employees to enjoy going to work every day and we make sure our work environment is

conducive to that.

What makes WonderCube so unique compared to other accessories in the market? Its the

worlds smallest cell phone accessory that not only can charge a phone on the go but also

contains a flash light, USB, and phone stand all in a one-inch cube.

The smartphone accessory industry is global. This industry will continue to be global as

well as long as people need cellphone and smartphone accessories for their phones which will be

a very dominant industry, especially in the near future.

The current market for our product is already mature when it comes to smartphone

accessories. WonderCube will be growing in that current market much faster than the older ones

in that market. Our product will create a new window for this market, as many companies will

begin to switch over to our product in the near future. Our product has already created a new

industry which is branched off of the current one that adds convenience to needs.

On the BCG Matrix, the WonderCube is currently a question mark. The reason for this

is because there are many other products that offer what our product has in the current market,

thus putting us into a competition of many other players and reducing our market share.

However, we have a high growth rate because of its simplicity and convenience to offer with the

other gadgets it comes with. These other products have added onto the market share and have
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been on there for many years. However, our market growth rate is very high because a product

like this with so many accessories has never been in the market. Many people may want to buy

this for the convenience that this small cube has to offer.

The Industry as a whole is trying to satisfy our customers needs and wants at the

same time. The current industry is intending to satisfy customers needs while competing with

the WonderCube. We try to satisfy their wants and needs by letting the WonderCube be a

connector between our customers phone with their laptop so that they can upload music while

also enjoying the other gadgets that it offers. Also, our product satisfies the customers needs in

that if they do not find a power outlet, they can instantly charge their phone without the hassle of

finding an outlet.
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Competitor Analysis

A major competitor of the Wondercube are the portable chargers on the market. There are

many brands that make this cell phone accessory. The price range for the portable chargers start

at approximately $5 and can go up to $50. To use a cell phone charger, you have to take your

own cord and plug it into your phone and the charger has a USB port where the other side of the

cable fits in. That way the phone can charge for people on the go. Anybody can carry it in their

pocket, purse or even in their hand. It probably seems like the portable charger is a great

investment, but in reality its not.

The Wondercube is a great investment not only because it can charge the phone

on the go, but it has so many other purposes as well. The portable charges are very bulky and

heavy, the Wondercube does not have this problem since it weighs approximately 0.7 ounces.

The Wondercube is designed to go everywhere you go. It is a very versatile and portable

accessory.

We also realize there is a bit of a price difference between the portable chargers and

Wondercube. Because the Wondercube has a variety of functionalities it will be priced higher.

Being a portable charger is only one of the seven other things the Wondercube does. The other

portable chargers only have one function, which is why their price is lower than the Wondercube.

Also the Wondercube is a very durable accessory. The other portable chargers

might be cheaper but they do not last a long time. It is better to make an investment into a

product that is multifunctional and made with top of the line metal, rather than one that only

serves a single purpose other nondurable materials.

Besides the portable chargers the other competitors of the WonderCube are the 8

individual items that the WonderCube contains. All of these individual products would cost more
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than the WonderCube. The following are prices of the products if they were sold separately and

were not the top end of these products. Flash light ($4.50), built-in-cable ($30), charger ($10),

phone stand ($8.00), USB ($10.00), sync device ($20.00), emergency charger ($10.00) and flash

memory ($10). All of these accessories added together add up to approximately $100. The

Wondercube is cheaper than all of these accessories individually and much more compact and

convenient.

Location of Type of Factor

Factor

Favorable Unfavorable

Strengths- Weaknesses-

Offers great The small size of the

convenience when one really cube can make it very easy for
Internal
needs it because of this 8 in 1 someone to steal it or for you to

cube lose it.

Great size in which The price tag on the

you do not have to worry about wonder cube is significantly

getting tangled in wires or higher than many other

worry about carrying more than smartphone accessories.

you have to The expensive price of

Very reliable metal to batteries can make the emergency

help shield it from every drop charging feature less appealing to

and keeping the internal parts customers

safe

Opportunities- Threats-

Demand of Not very well known

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External convenient products increasing through the U.S. and global

in the U.S. market market so we will need to

Large volume of advertise.

smartphones being sold in the The addition of a new

U.S. with new iPhone 6 and 6s. smartphones charging USB to

Global market is change would have to make our

shifting towards smartphones as company redesign the whole cube

technology increases in many The smartphone

developing countries accessory market is already

mature as it has been around for

many years. The current products

on there are very stable.

Market-Product Focus

This section of the marketing plan describes the product goals for

WonderCube. At the same time, it defines target markets, points of

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differences and the position of this organization within the international trade

market. The priority of WonderCube is to end the consumer hindrance of

carrying tangled cable and bulkiness of multiple accessories forever. As well

as, allow users to be more efficient with their use of space and convenience.

Target Market

The target markets for WonderCube as of now is aimed for the general

population. However, since it is the all-in-one mobile solution and small

enough to sit on your fingertip, WonderCube would be best suitable for those

who travel often. Frequent travelers often do not find the time to be able to

do any of the tasks mentioned below or have the space to carry such items.

As travelers have to be effective and efficient with their use of time and

space, WonderCube will provide them a more convenient option as well as

enable them to increase productivity within their lives.

Points of Difference:

WonderCube packs in 7 mobile essentials in One Cubic Inch

The uniqueness of its functionality exists within in an inch of space. This

product provides the user the ability to transform and meet the needs for the

following uses:

1. Built in charging cable has a USB and phones port cable

2. Charging ability to charge your phone with a 9V battery.

3. Phone stand provides phones a stand

4. USB provides additional storage

5. Sync transfer data from phone to computer

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6. Flash memory for smartphones. A micro SD card reader with the

capacity space of 64 GB

7. LED Torch has a mini torch to provide light in the dark.

Positioning

The goal of WonderCube is to reach the top-of-the-mind awareness of the

target market. To achieve that positioning of this product will be crucial. In

order to appeal to frequent travelers, WonderCube will be positioned in the

busiest airports in the States and as products life cycle progresses,

WonderCube will also be located in international airports with heavy traffic.

Moreover, WonderCube will also be positioned in flights so that flyers have

the option of purchasing the product in flight. Brand positioning of

WonderCube will be essential as well. Since WonderCubes brand name is not

as popular as McDonalds nor are their pockets as deep as Nike, it would have

to use social media to reach out the targeted niche market. With the use of

social media, WonderCube can position their brand as a must have item for

the target audience.

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Product Strategy

The marketing mix for the WonderCube is a very simple. There are four

versions of the WonderCube available for purchase, a model with a 16GB

micro-SD card, a model with a 32GB micro-SD card, a model with 64GB

micro-SD card, and one with no micro-SD card. Along with these four

different versions each WonderCube comes with the color options of white,

black, candy blue, and green. The candy blue and green colors were only

made available once a certain amount of funding was reached and as well as

these two colors and a special Iron edition is now available for a limited

time for reaching over $70,000 in funding. As to the pricing of the

WonderCube, it starts off at $55 for a cube with no micro-SD card and goes

up to $85 for a cube with a 64GB micro-SD card. Included in the price is the

shipping cost for anywhere in the United States and additional $10 will be

added if shipping international. For those who plan on buying multiple

WonderCubes, the bulk pricing starting at $459 for 10 cubes with no micro-

SD card and can be upgraded to any of the models with the micro-SD card

for an additional cost. To further get the word out on the WonderCube, a

referral program has been established where one can go and send referrals

on social media and have their friends donate to WonderCube and along the

way up to five free WonderCubes and a special UltimateCube Iron for the

top five referrers.

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The WonderCube is a specialty consumer good because of its

limited availability and requires effort to go out and search for the product. In

the product life cycle, WonderCube is currently in the introduction stage. At

this point profits are low and sales growth is slow because of its recent

introduction into the market. WonderCube seems to have adopted a

skimming price strategy with their lowest price starting at $55. The plan with

this pricing strategy is to capitalize on price insensitive consumers as well as

to gather information on how the product sells at this price point and to

make decisions on price changes. The goal for marketing this product early

in its life cycle is create awareness for WonderCube and create selective

demand for the cube to further differentiate itself from its competitors since

the cell phone accessory market is well established. Some advertisement

may be done on to show how the product works and its capabilities but

WonderCube is not expected to be a product where the user isnt familiar but

instead it is a continuous innovation product because all of its functions are

all ones that many consumers have had experience using before and no

adaptation problems are expected.

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Distribution Map of WonderCube

WonderCube, being a new product out in the market, is in a limited place in its channel

distributions, as it is a part of an indirect channel system where Mutants DesignLabs produces

the product and IndieGoGo is the only retailer. Funding was raised via the crowd funding

website IndieGoGo, where the idea for WonderCube depended on meeting a certain funding goal

to start developing WonderCube. Once enough funding was raised, Mutants DesignLab was

brought in for research, development and production as well. From there, the cubes are shipped

to a distribution center where IndieGoGo performs basic transactional and logistical functions by

allowing consumers to purchase directly from their website and provides shipping services.

WonderCube, being early in the introduction stage, is under exclusive distribution. This benefits

the company because it adds to their point of difference as it can only be purchased through

IndieGoGo, allowing for higher profitability with a low channel cost, and provides convenience
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to the buyers when purchasing the product. Since WonderCube has only one retailer, and is early

in the introduction stage, there is no price differentiation between channels, and the product has

had no channel conflicts. WonderCube is neither integrated forward nor backward because the

relationship between IndieGoGo and Mutant DesignLab is a partnership and neither one owns

the other.

WonderCube has the potential to expand its marketing channels if demand picks up and

allows for WonderCube to be purchased from other retailers which allows for greater advertising

opportunities`, an increase in consumer awareness of WonderCube, and most importantly more

options as to where to purchase WonderCube from.

Pricing Strategy

With a retail price of $69, the price of the Wonder Cube is cheaper than the total price of

buying its 8 components individually. However, being all of its functionalities may not be useful

for every consumer (like the phone stand or the flashlight, for example), some people may

receive less value, but still be forced to pay for these additions. In this case, the price is still

justified, as the space-saving aspect of having all of the mobile add-ons in one keychain is more

convenient than the alternate option of having 8 different products.

The small device (1 cubic inch) probably has a low cost of production, so the big

price tag allows for a large profit margin, while still being low enough to be justified by most

consumers (given that they must already have a smartphone which probably cost $200 or more).

Because of the (likely) large difference in production cost and selling price, it appears the

Wonder Cube is priced with a skimming pricing plan in mind. The price of the product can be

decreased after the novelty and initial sales wears off.

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A crucial factor that probably affected the pricing decision was the campaign on

Indiegogo. Without the product even being completed, the company could gauge the price

customers were willing to pay based on the amount they donated. This way, a starting retail price

could be estimated without having to put any money into research for the same data. As the

product matures, adjustments to the price could be made easily by changing the price on the

website, as the Wonder Cube isnt sold by any other retailers.

The demand could be judged by using the data from backers on Indiegogo. By keeping track of

the number of backers on the website, the company behind the Wonder Cube could estimate the

amount of demand that would be seen once the product is fully released.

With a retail price of $69, the price of the Wonder Cube is cheaper than the total price of buying

its 8 components individually. However, being all of its functionalities may not be useful for

every consumer (like the phone stand or the flashlight, for example), some people may receive

less value, but still be forced to pay for these additions. In this case, the price is still justified, as

the space-saving aspect of having all of the mobile add-ons in one keychain is more convenient

than the alternate option of having 8 different products.

The small device (1 cubic inch) probably has a low cost of production, so the big

price tag allows for a large profit margin, while still being low enough to be justified by most

consumers (given that they must already have a smartphone which probably cost $200 or more).

Because of the (likely) large difference in production cost and selling price, it appears the

Wonder Cube is priced with a skimming pricing plan in mind. The price of the product can be

lowered later once the novelty and initial sales wears off.
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A crucial factor that probably affected the pricing decision was the campaign on

Indiegogo. Without the product even being completed, the company could gauge the price

customers were willing to pay based on the amount they donated. This way, a starting retail price

could be estimated without having to put any money into research for the same data. As the

product matures, adjustments to the price could be made easily by changing the price on the

website, as the Wonder Cube isnt sold by any other retailers.

The demand could be judged by using the data from backers on Indiegogo. By keeping track of

the number of backers on the website, the company behind the Wonder Cube could estimate the

amount of demand that would be seen once the product is fully released.

Consumer Analysis

The Wonder Cube is a necessity for consumers because of its multiple functionalities

which are all bundled together into one small accessory. Without this product, the user would

need to carry 8 individual items on their keychain so that they could keep all the same utilities,

leading to an issue with pocket space. The Wonder Cube condenses all of these into one space, so

that the customer doesnt need to purchase multiple other products, run out of space on their

keychain, or in their pocket.

The consumer would likely go to the internet to find information on this product,

or they could go to a friend who has already purchased it once it has been released. The main

source of information for the Wonder Cube is its own website, where the functionalities and

specifications are explained in detail.

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Alternatives for the Wonder Cube include all of the individual accessories which

it has the functionality of. Consumers would evaluate their need for one individual alternative

with one single utility, versus having the option of buying a product with possibly more features

than they need. In this case, if the opposing product is of a similar size, the consumer may

choose the Wonder Cube, as they may be willing to find uses for its utilities they may not have

considered before, while still occupying the same amount of key chain real-estate.

There is no typical time at which the customer would buy the Wonder Cube. As it

is a new product, special promotions wont happen soon, until the novelty has worn off and sales

are dropping. Customers can buy it online from the website, the only place it is offered at the

moment.

Post-purchase, consumers may experience some cognitive dissonance, as the

retail price is $70 which they could have spent on something else. However, once they find

themselves in a situation in which they use a function of the cube that they havent before and

learn how important it is in times which they didnt know they needed it, the buyers remorse

will likely fade, because they will come to rely on the product more. Therefore, the longer the

customer owns the product, the more satisfied they will be with it, because they will use it more

and more.
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Promotion Strategy

As mentioned before, currently WonderCube targets the general population. With that in mind

their promotion strategy implements:

- Viral Marketing / Online Marketing

Much like GoPros promotion strategy, WonderCube relies on videos on YouTube going viral.

They have made videos about a one-inch cube performing unique functions.

- Traditional Marketing

WonderCube also implements traditional marketing by being featured in tech magazines such as

Gizmag, the Gadget Flow, Highsnobiety and many more. This is an ideal platform for our

product since the magazine is read by our target audience. Moreover, they reach out to customer

by setting up a booth at Consumer Electronic Show.

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- Content Marketing

Since there is no product like WonderCube on the market, marketers at WonderCube focus

heavily on content marketing since its unique. The videos advertised on YouTube and other sites

teaches customers the utilization of WonderCube.

Moving forward WonderCubes promotion strategy will be defined by the companys objectives.

With the objective to appeal to travelers, WonderCube will be found at the busiest airports in the

States. As the products life cycle progresses international flights and airports will be targeted.

Especially flights to emerging markets where the availability of the functions WonderCube

provides may not be available, the demand for this product is very likely to increase.

WonderCubes promotion will be strategized accordingly

- Duty Free Shops and other retail stores at airports. Wondercube at such locations will attract

the target audience we want. With over 15,000 airports in United States WonderCube has a lot of

potential to become a must-have item for travelers.

- Catalogs in airplanes. Flyers have a catalog in their seat pocket in which they make in-flight

purchases. WonderCube will be available to purchase in flights.

- Infomercials in flights For entertainment purposes international flights have movies,

television series available for the flyers to watch. Advertisement videos of WonderCube should

be played before for instance, a movie starts. Also, mentioning that it is available for purchase in

flight. Mentioned strategies will be ideal for WonderCubes aim to reach the top of the target

audiences mind.

- Social Media - In order to push this product to the target audience, WonderCube should use

social media as a medium to advertise this product. For instance, asking users about how this
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product helped them be effective and efficient with their use of space and convenience on social

media.