Case Study Description of reMarkable: e-Writing the Future
Magnus Wanberg is the creator of reMarkable, a breakthrough e-writer device set apart from similar products on the market by having solved the frustrating "slow ink" problem typically experienced on pen-based electronic devices, thus providing a "pen and paper" like experience. Moreover, the device allowed for the convenient and non-eye-straining reading of typical documents. Though enthusiastically received by several investors, there was still a long way to go before the prototype could reach a final commercial product. Wanberg and his team narrowed down the relevant market to three main segments: creative professionals, working professionals and students. However, these segments were seemingly at odds with each other in terms of which product attributes would most appeal to each. The young company therefore had to choose which group to target as this would dictate future product development efforts. With the planned launch date quickly approaching, the target market selected also impacted communication, channels, and pricing decisions. reMarkable had to resolve these matters while juggling limited time, effort and funds.
Swot Analysis of "reMarkable: e-Writing the Future" written by Elie Ofek, Curtis Hsu includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Wanberg Remarkable facing as an external strategic factors. Some of the topics covered in reMarkable: e-Writing the Future case study are - Strategic Management Strategies, Forecasting, Marketing, Product development, Technology and Sales & Marketing.
Some of the macro environment factors that can be used to understand the reMarkable: e-Writing the Future casestudy better are - – wage bills are increasing, geopolitical disruptions, increasing household debt because of falling income levels, supply chains are disrupted by pandemic , increasing commodity prices, technology disruption, increasing government debt because of Covid-19 spendings,
customer relationship management is fast transforming because of increasing concerns over data privacy, competitive advantages are harder to sustain because of technology dispersion, etc
Introduction to SWOT Analysis of reMarkable: e-Writing the Future
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in reMarkable: e-Writing the Future case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Wanberg Remarkable, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Wanberg Remarkable operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of reMarkable: e-Writing the Future can be done for the following purposes –
1. Strategic planning using facts provided in reMarkable: e-Writing the Future case study
2. Improving business portfolio management of Wanberg Remarkable
3. Assessing feasibility of the new initiative in Sales & Marketing field.
4. Making a Sales & Marketing topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Wanberg Remarkable
Strengths reMarkable: e-Writing the Future | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Wanberg Remarkable in reMarkable: e-Writing the Future Harvard Business Review case study are -
Low bargaining power of suppliers
– Suppliers of Wanberg Remarkable in the sector have low bargaining power. reMarkable: e-Writing the Future has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Wanberg Remarkable to manage not only supply disruptions but also source products at highly competitive prices.
Diverse revenue streams
– Wanberg Remarkable is present in almost all the verticals within the industry. This has provided firm in reMarkable: e-Writing the Future case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Organizational Resilience of Wanberg Remarkable
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Wanberg Remarkable does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
High switching costs
– The high switching costs that Wanberg Remarkable has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Sustainable margins compare to other players in Sales & Marketing industry
– reMarkable: e-Writing the Future firm has clearly differentiated products in the market place. This has enabled Wanberg Remarkable to fetch slight price premium compare to the competitors in the Sales & Marketing industry. The sustainable margins have also helped Wanberg Remarkable to invest into research and development (R&D) and innovation.
Analytics focus
– Wanberg Remarkable is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the industry. The technology infrastructure suggested by Elie Ofek, Curtis Hsu can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Highly skilled collaborators
– Wanberg Remarkable has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in reMarkable: e-Writing the Future HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Digital Transformation in Sales & Marketing segment
- digital transformation varies from industry to industry. For Wanberg Remarkable digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Wanberg Remarkable has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Superior customer experience
– The customer experience strategy of Wanberg Remarkable in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Learning organization
- Wanberg Remarkable is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Wanberg Remarkable is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in reMarkable: e-Writing the Future Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Operational resilience
– The operational resilience strategy in the reMarkable: e-Writing the Future Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.
Successful track record of launching new products
– Wanberg Remarkable has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Wanberg Remarkable has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Weaknesses reMarkable: e-Writing the Future | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of reMarkable: e-Writing the Future are -
Skills based hiring
– The stress on hiring functional specialists at Wanberg Remarkable has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study reMarkable: e-Writing the Future, in the dynamic environment Wanberg Remarkable has struggled to respond to the nimble upstart competition. Wanberg Remarkable has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Products dominated business model
– Even though Wanberg Remarkable has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - reMarkable: e-Writing the Future should strive to include more intangible value offerings along with its core products and services.
Interest costs
– Compare to the competition, Wanberg Remarkable has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Wanberg Remarkable supply chain. Even after few cautionary changes mentioned in the HBR case study - reMarkable: e-Writing the Future, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Wanberg Remarkable vulnerable to further global disruptions in South East Asia.
No frontier risks strategy
– After analyzing the HBR case study reMarkable: e-Writing the Future, it seems that company is thinking about the frontier risks that can impact Sales & Marketing strategy. But it has very little resources allocation to manage the risks emerging from events such as natural disasters, climate change, melting of permafrost, tacking the rise of artificial intelligence, opportunities and threats emerging from commercialization of space etc.
High bargaining power of channel partners
– Because of the regulatory requirements, Elie Ofek, Curtis Hsu suggests that, Wanberg Remarkable is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.
Low market penetration in new markets
– Outside its home market of Wanberg Remarkable, firm in the HBR case study reMarkable: e-Writing the Future needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Need for greater diversity
– Wanberg Remarkable has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.
Employees’ incomplete understanding of strategy
– From the instances in the HBR case study reMarkable: e-Writing the Future, it seems that the employees of Wanberg Remarkable don’t have comprehensive understanding of the firm’s strategy. This is reflected in number of promotional campaigns over the last few years that had mixed messaging and competing priorities. Some of the strategic activities and services promoted in the promotional campaigns were not consistent with the organization’s strategy.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the reMarkable: e-Writing the Future HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Wanberg Remarkable has relatively successful track record of launching new products.
Opportunities reMarkable: e-Writing the Future | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study reMarkable: e-Writing the Future are -
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Wanberg Remarkable can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Manufacturing automation
– Wanberg Remarkable can use the latest technology developments to improve its manufacturing and designing process in Sales & Marketing segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Buying journey improvements
– Wanberg Remarkable can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. reMarkable: e-Writing the Future suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Harnessing reconfiguration of the global supply chains
– As the trade war between US and China heats up in the coming years, Wanberg Remarkable can build a diversified supply chain model across various countries in - South East Asia, India, and other parts of the world. This reconfiguration of global supply chain can help, as suggested in case study, reMarkable: e-Writing the Future, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Wanberg Remarkable to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Wanberg Remarkable to hire the very best people irrespective of their geographical location.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Sales & Marketing industry, but it has also influenced the consumer preferences. Wanberg Remarkable can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Better consumer reach
– The expansion of the 5G network will help Wanberg Remarkable to increase its market reach. Wanberg Remarkable will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
Building a culture of innovation
– managers at Wanberg Remarkable can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Sales & Marketing segment.
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Wanberg Remarkable to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Sales & Marketing industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Wanberg Remarkable can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Wanberg Remarkable can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Wanberg Remarkable in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Sales & Marketing segment, and it will provide faster access to the consumers.
Creating value in data economy
– The success of analytics program of Wanberg Remarkable has opened avenues for new revenue streams for the organization in the industry. This can help Wanberg Remarkable to build a more holistic ecosystem as suggested in the reMarkable: e-Writing the Future case study. Wanberg Remarkable can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Using analytics as competitive advantage
– Wanberg Remarkable has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study reMarkable: e-Writing the Future - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Wanberg Remarkable to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Threats reMarkable: e-Writing the Future External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study reMarkable: e-Writing the Future are -
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Wanberg Remarkable needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Wanberg Remarkable in the Sales & Marketing industry. The Sales & Marketing industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Wanberg Remarkable business can come under increasing regulations regarding data privacy, data security, etc.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Wanberg Remarkable in the Sales & Marketing sector and impact the bottomline of the organization.
Shortening product life cycle
– it is one of the major threat that Wanberg Remarkable is facing in Sales & Marketing sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Stagnating economy with rate increase
– Wanberg Remarkable can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study reMarkable: e-Writing the Future, Wanberg Remarkable may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Sales & Marketing .
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Wanberg Remarkable with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Wanberg Remarkable can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study reMarkable: e-Writing the Future .
Regulatory challenges
– Wanberg Remarkable needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Sales & Marketing industry regulations.
Increasing wage structure of Wanberg Remarkable
– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of Wanberg Remarkable.
Technology acceleration in Forth Industrial Revolution
– Wanberg Remarkable has witnessed rapid integration of technology during Covid-19 in the Sales & Marketing industry. As one of the leading players in the industry, Wanberg Remarkable needs to keep up with the evolution of technology in the Sales & Marketing sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
Weighted SWOT Analysis of reMarkable: e-Writing the Future Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study reMarkable: e-Writing the Future needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study reMarkable: e-Writing the Future is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study reMarkable: e-Writing the Future is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of reMarkable: e-Writing the Future is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Wanberg Remarkable needs to make to build a sustainable competitive advantage.
