1. THE NEED FOR SPEED
Market the Hyperloop
By Jessica Prinsen
2. THE HYPERLOOP
•
700 MPH capsule commute
•
30 minute ride between Los Angeles, CA to San Francisco, CA
•
Reinventing transportation
3. SITUATIONAL OVERVIEW
•
The Hyperloop is consistent with our culture:
• Need for immediate gratification:
• Immediate in terms of destination arrival times
•
Importance of technical features and benefits:
• Safe: resistant to earthquakes, wind, ice, fog & rain
• Fast: 30 minute commute & not disruptive along the route
• Technicality: the newest, most innovative form of transportation
• Sustainability: Self-powering (solar panel based)
• Technology is happening now:
• Drones for Amazon
• Concept: Holograms for traffic lights
4. TARGET AUDIENCE
•
Consumer Market
• Premium Wealthy Consumers
• Innovators and Early Adopters
• Geographically limited: California’s wealthiest residents
• Zip Code with the highest percentage of million-dollar
homes according to CNN Money is Rancho Santa
Fe, CA 92067 (96%)
The following information is derived from PRIZM based on the ZIP Code of
92067 which is known as Rancho Santa Fe, CA. The information is a
reflection of the residents and has been categorized in 5 segments: Big
Fish, Small Pond, County Squires, God’s Country, Second City Elite and
Traditional Times. This audience reflects on a small-scale the same
audience we would target for the success of launching the Hyperloop.
5. TARGET AUDIENCE
•
First Segment within Rancho Santa Fe: Big Fish, Small Pond
These upscale, empty-nesting
couples enjoy the trappings of
success, including belonging to
country clubs, maintaining large
investment portfolios, and spending
freely on computer technology.
Lifestyle & Media Traits:
• Shop at Talbots
• Go sailing
• Read Kiplinger's Personal Finance
Demographics Traits:
• Urbanicity: Town/Rural
• Income: Upscale
• Income Producent
Assets: Millionaires
• Age Ranges: 55+
• Presence of Kids: HH w/o Kids
• Homeownership: Homeowners
• Employment Levels: White Collar,
Mix
• Education Levels: Graduate Plus
• Ethnic Diversity: White
6. TARGET AUDIENCE
•
Second Segment Rancho Santa Fe: Country Squires
The wealthiest residents in exurban
America live in Country Squires, an
oasis for affluent Baby Boomers
who've fled the city for the charms of
small-town living. In their bucolic
communities noted for their recently
built homes on sprawling properties,
the families of executives live in sixfigure comfort.
Lifestyle & Media Traits:
Order from amazon.com
Vacation at ski resorts
Read Shape
Demographics Traits:
Urbanicity: Town/Rural
Income: Upscale
Income Producing Assets: High
Age Ranges: 35-54
Presence of Kids: HH w/ Kids
Homeownership: Mostly Owners
Employment Levels: Management
Education Levels: Graduate Plus
Ethnic Diversity: White, Asian, Mix
7. TARGET AUDIENCE
•
Third Segment Rancho Santa Fe: God’s Country
God's Country emerged as the most
affluent of the nation's exurban lifestyles.
Today, wealthier communities exist in the
hinterlands, but God's Country remains a
haven for upscale couples in spacious
homes. Typically college educated Baby
Boomers, these Americans try to maintain
a balanced lifestyle between high-power
jobs and laid-back leisure.
Lifestyle & Media Traits
Order from orbitz.com
Go cross country skiing
Read Wine Spectator
Demographics Traits:
Urbanicity: Town/Rural
Income: Upscale
Income Producing Assets: Elite
Age Ranges: 45-64
Presence of Kids: HH w/o Kids
Homeownership: Mostly Owners
Employment Levels: Management
Education Levels: Graduate Plus
Ethnic Diversity: White, Asian, Mix
8. TARGET AUDIENCE
•
Fourth Segment Rancho Santa Fe: Second City Elite
There's money to be found in the nation's
smaller cities, and you're most likely to
find it in Second City Elite. The residents
of these satellite cities tend to be
prosperous professionals who decorate
their homes with multiple
computers, large-screen TV sets, and an
impressive collection of wines.
Lifestyle & Media Traits:
Shop at Neiman Marcus
Collect art
Read Smart Money
Demographics Traits:
Urbanicity: Second City
Income: Upscale
Income Producing Assets: Elite
Age Ranges: 55+
Presence of Kids: HH w/o Kids
Homeownership: Mostly Owners
Employment Levels: White Collar,
Mix
Education Levels: Graduate Plus
Ethnic Diversity: White, Asian, Mix
9. TARGET AUDIENCE
•
Fifth Segment Rancho Santa Fe: Traditional Times
Traditional Times is the kind of lifestyle where
small-town couples nearing retirement are
beginning to enjoy their first empty-nest
years. Typically in their fifties and
sixties, these upper-middle-class Americans
pursue a kind of granola-and-grits lifestyle.
On their coffee tables are magazines with
titles like Country Living and Country Home.
But they're big travelers, especially in
recreational vehicles and campers.
Lifestyle & Media Traits:
Shop at Sam's Club
Contribute to PBS
Read Southern Living
Demographics Traits:
Urbanicity: Town/Rural
Income: Upper Mid
Income Producing Assets: High
Age Ranges: 55+
Presence of Kids: HH w/o Kids
Homeownership: Homeowners
Employment Levels: White
Collar, Mix
Education Levels: College
Graduate
Ethnic Diversity: White
10. TARGET AUDIENCE
•
Innovators & Early Adapters
•
Innovators
• People who are fascinated with ground-breaking technology,
• Want to be apart of the Hyperloop’s initial launch, &
• Can afford initial prices
Early Adapters
• People who commute between Los Angeles and San Francisco regularly
• Work-related, social reasons or housing in both locations
• People with money and without children (less concern & skepticism of safety)
• People who are genuinely interested in innovation of transportation to reduce
commuting times
11. SUMMARY OF TARGET AUDIENCE
•
PRIZM Quick Facts for Rancho Santa Fe:
• Target: Adults without children
• Median Age: 52
• Targeted Age: 35-55+
• Median Income: $120,800
• Consumer Spend: $99 MM
• Consumer Spend ($/HH): $73,481
• Targeted Occupation: High-level management & retired
• Interests: Travel, leisure, technology
12. COMPETITIVE ANALYSIS
Car
Pros:
• Convenience
• Luggage is not a
factor
• Status
• $112 USD on average
round-trip commute
from L.A. to San
Francisco
Cons:
• Traffic
• 5-7 hour drive from
San Francisco to L.A.
• Maintenance fees
Hyperloop
Pros:
• Speed & convenience
• 30 minute commute
between L.A. and San
Francisco
• Weather is not a factor
• No traffic
Cons:
• Expensive
• > $500 USD
• High demand, small
supply
• Skepticism of safety
Plane
Pros:
• 1 hour 27 minute
commute between L.A.
and San Francisco
• Fastest current mode of
transportation
• Easy to commute
regularly
Cons:
• Lost luggage
• Airport delays
• Weather is a factor
• Relatively expensive
• $450 USD round-trip
13. COMPETITIVE ANALYSIS
High Speed Rail
Pros:
• Fastest ground
system besides the
Hyperloop
• < 3 hours to L.A.
from San
Francisco
• Low cost per
commute
Cons:
• Expensive to build
• Luggage is limited
• Low status
• Cost per ride TBD
Hyperloop
Pros:
• Speed & convenience
• 30 minute commute
between L.A. and San
Francisco
• Weather is not a factor
• No traffic
Cons:
• Expensive
• High demand, small supply
• Skepticism of safety
Mega Bus
Pros:
• Least expensive
• Twice as fuel efficient
as private cars
• Bus lanes are quicker
Cons:
• Low status
• About a 7 hour
commute from L.A. to
San Francisco
• Dirty
• $30 USD round-trip
14. PRICING STRATEGY
• Price Skimming Strategy
• The Hyperloop will be in the introductory phase of the product life cycle
and will therefore take on the price skimming strategy
• The Hyperloop provides the best benefits compared to its
competitors which is speed, resistance to weather and convenience.
Comparing it to the next fastest mode of transportation is the
plane, which runs at about $450 USD per round-trip. The Hyperloop
should be positioned well above $500 USD to ensure that it can
supply the demand, recover the research and development costs
and lastly to make a profit.
15. COMMUNICATION STRATEGY
•
Goals:
• Reach the target audience
• Premium wealthy consumer
• Innovators
• Early adapters
• How many times per month?
• Goal is 8 times in the first month (to inform and to create awareness)
• 5 times in the second month (continue to gain awareness)
• What Channels?
• Use a multi-channel platform
16. COMMUNICATION STRATEGY
•
Multi-platform channels
•
Message: Focused around “The Need for Speed” theme, futuristic advertisements
showing the benefits of the Hyperloop & informing on the safety. Mostly focused on the
“cool” aspect of the futuristic transportation and the little time it takes to commute. Time is
of the Essence.
• Outdoor Geographic Targeting
• Creative Billboards that people are constantly driving by and will aspire to one
day ride the Hyperloop to avoid the traffic that they are currently sitting in
• Futuristic, witty, clever and informative
• Outdoor Events/ Setups
• Similar to: http://www.youtube.com/watch?v=VErg8ZgdOB8
• Goal: GAIN ATTENTION
17. COMMUNICATION CHANNELS
•
Multi-platform Channels
•
Hyperloop Endorsers
• People who are extremely influential to the early adopters and early majority
(experts, car enthusiast celebrities etc.)
• Contact via direct message or direct messaging an agent
• Offer initial free rides for the influencer with the expectation that they will report their
experience on some form of social media
• Campaign leading up to the first Hyperloop ride with the endorser and post-ride
interview and press-releases
•
Example: Get the Saturday Night Live cast to participate in the initial beginning of the
Hyperloop
• Hits a large audience of all ages of the spectrum (gains awareness)
• Multiple Saturday nights spent on the lead up, the actual ride and then after the ride
18. COMMUNICATION STRATEGY
•
Multi-platform Channels
•
Celebrity Magazines:
• Advertisement placements in magazines that the celebrities or premium wealthy
consumers may be featured
• Advertising placements that are magazines of interest: Kiplinger's Personal
Finance, Shape, Wine Spectator, Smart Money & Southern Living (Magazines
appealing to Rancho Santa Fe, CA)
• Target technology, finance and leisure magazines, online journals and blogs
•
Media Outlets
• Radio advertisements and radio talk show hosts speaking with the public about the
Hyperloop
• Yoube videos: awareness/ informing and thrilling videos
• Publicity
19. CREATIVE STRATEGY
•
Value Propositions
• For the premium wealthy traveler or regular commuter who wants to decrease the
time spent commuting between Los Angeles and California, the Hyperloop is the
fastest mode of transportation.
• The Hyperloop takes away the stress, frustration and lack of energy that you
experience from your current mode of transportation by sending you in a capsule for
30 minutes stress-free.
• The Hyperloop creative strategy should be innovative, futuristic and informative in
obvious manners
• It is the first Macintosh of computers
20. BRING THE HYPERLOOP FROM AN IDEA TO
REALITY
•
The Hyperloop should be marketed to the premium wealthy consumer with a price
skimming strategy. The demand will be high as the Hyperloop is the fastest mode of
transportation, safe and sustainable. The target audience will be the innovators and early
adopters who are interested in technology, travel and reducing time spent commuting.
Communication channels should be focused primarily on outdoor billboards, influential
endorsers and publicity. The creative strategy should focus on the benefits the Hyperloop
offers as well as the futuristic and innovative look the Hyperloop possesses.
•
Let’s bring the Hyperloop to life.
