Smarthalo Case Study
There are lots of ways through which you can use your smartphones for navigation while riding the bicycle but it’s very difficult or even dangerous to look at your smartphone repeatedly while riding. SMARTHALO is a cycling navigation device specially design for cyclists in urban areas. Smarthalo is military-grade locking system which is just like a gadget which permanent fix on the handlebar of a bicycle with temper free screws. It is just like a circular screen that gives you information about your destination by bright LED lights which will blink and direct you about your destination while you are riding your bicycle. Smarthalo alarm system keeps your bicycle safe from thieves. An alarm will …show more content…
They came late in the market and their competitors had competitive edge over them, so in such scenario Smarthalo introduced their product with some extra features other than navigation. They worked hard to achieve their desired goal and make product according to expectations of backers. This is a challenging situation for them to penetrate in such a market where competition is already very high. Smarthalo faced main challenges by their competitors which include Hammerhead, Cobi, Haiku, Garmin and Van hawks as their main competitors. Garmin is also potential challenge as they have been dealing with navigation devices from decades with in-depth knowledge of navigation systems. Consumer takes Garmin as trust worthy, reliable and credible because of time span they have spent in market and have proven their worth. In this situation Smarthalo tried their level best to raise fund from investors because it was not easy for them to change the perception of the customers towards new product. Market share is also a big challenge for them that how they will capture their competitors market share. How to positioned smarthalo was a tough job. Already there are lots of other devices which were used for the same purposes. In this situation how to position smarthalo successfully was the challenge task for the company. No doubt they added value to their products but still they were not able to generate a huge funding. It’s a big challenge for them to add new features for their potential customers because competition was so high and they wanted to add something unique in the Smarthalo for their future customers. The smarthalo team invested their own capital from past few years for software and hardware but still lots of other area like design, electronics, financing and most important suppliers need investment. This is no easy feat. The one main problem that they haven’t started production yet.