BackGround: Inspero Inc. was founded by two MIT MBA students in September 2014 T
ID: 376081 • Letter: B
Question
BackGround:
Inspero Inc. was founded by two MIT MBA students in September 2014
Their vision
“To completely rethink headphones by inventing a new way to experience and interact with sound.”
Vinci’s team now consist of 50 engineers and designers.
They have operations in New York, Bangkok, Beijing & Shenzhen.
In October 2015. Vinci was introduced and released their first headphones.
The product was a success and sold out within six months.
In November 2016, Vinci launched the first standalone intelligent headphone
Raised $1,297,277 on Kickstarter & Indiegogo.
In 2015, the global earphones & headphones market size was valued at USD 8.7 billion.
The global earphones and headphone market is expected to grow to $15.8 billion by 2025.
Growth Influences
Widespread use of mobile devices
Noise cancelling technology innovations
Popularity in music streaming services
Find the info below about Vinci 2.0 Headphones
ll. Market size
a. Estimated industry sales for the planning year
b. Estimated market growth rate.
III. The Marketing Plan
a. Marketing Objectives
b. The target market and product positioning statement
c. The marketing mix
Explanation / Answer
Market Size:
We have the estimated size of the industry in 2025 as $15.8 billion (future value) and the value of the industry in 2015 as $8.7 billion (current value). The estimation of industry is for 10 years hence forth (2025 - 2015)
So we can calculate the Compounded Annual Growth Rate by the formula
Growth rate = ( Future Value / Current Value )(1/no. of years) - 1 = (15.8 / 8.7)(1/10) - 1 = 1.0615 - 1 = 0.0615 or 6.15%
So Estimated industry sales for the planning year = Current sales * (1 + growth rate) = 8.7*1.0615 = $9.235 billion
Marketing Plan:
Marketing objectives: Increase awareness about the new technology and product, make the consumer experience the new product to feel the difference.
Target Market : Music and multimedia enthusiasts
Positioning Statement: A completely revelutionalizing headphone which makes you experience and immerse into the sound and not just listen to it
Marketing mix
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