HP Sprocket is a pocket-size photo printer, released in the market in September 2016. About the size of a smartphone, this Bluetooth printer goes anywhere. The Sprocket gives customers the ability to use their smartphone to take photos, with the added benefit of having a physical picture to keep forever. The Sprocket works with an App on a smartphone or a tablet. It instantly prints photos that are 2 X 3 inches and waterproof. With a peel able back, photos can turn into fun stickers. The Sprocket works with social media feeds, so you can incorporate text, emojis, filters and frames before you print. The Sprocket retails for $129.99 and replacement paper is $10 for 20 photo papers. The Sprocket is unique in that it does not require replacement ink. Instead, it uses Zink technology, and only requires the HP replacement photo paper. HP is counting on the Sprocket to boost their lagging printer sales. Currently, the printer market is stagnant. The introduction of the Sprocket boosted sales over the 2016 holidays season. So unexpectedly, that the Sprocket sold out. Although the competition is fierce, the Sprocket has edged out competitors to hold a slight market share lead. Based on App downloads, current market share is 38%. After implementation of the marketing plan, the Sprocket is projected to increase market share to 51% by the end of 2018. The Sprocket was originally marketed to the teenage girl demographic. There is a real opportunity for growth by pivoting to additional segments. The Sprocket will be promoted heavily in the category of women with children. This demographic holds the most opportunity, as they are making the majority of buying decisions as well as making gift purchases. The gifting opportunity will be promoted heavily during graduation season and Mother’s Day. To a lesser extent, the Sprocket will continue to be promoted to teenage girls, and additionally to the active senior population. Those seniors who are retired, use a smartphone, but would like to retain physical pictures. The Sprocket will be promoted through social media, with a separate campaign for each segment, as well as through tech fairs, SEO, and traditional advertising channels. The team will monitor these campaigns through a newly created marketing dashboard. In addition to an increase in sales, the marketing department will monitor customer satisfaction and customer engagement through on line reviews and online community engagement. The key success factors will be growth in sales, market share growth, and holiday sales growth.
Melendez, Alex Tacco; Singh, Anchal; Rosenthal, Janet; Vrushabhendra, Lipishree; Alzahrani, Saeed; and Purwar, Shivani, "HP Sprocket Marketing Plan" (2017). Engineering and Technology Management Student Projects. 144.