Analysis of Ring Doorbell
- Customer (Who specifically is helped?)
- Homeowners & renters; specifically the security-conscious, those needing to manage their door remotely, and frequent online shoppers.
- Pain (What is the frustration for the customer?)
- A lack of awareness, security, and control over their front door. This leads to anxiety about package theft, missed visitors/deliveries, and unknown callers. Traditional security systems are complex and costly.
- Solution (How does the product remove the frustration?)
- An easy-to-install hardware and app ecosystem that provides a remote presence at your door, enabling live viewing, two-way communication, and motion-triggered recordings from anywhere.
- Offer (Pricing, warranties, terms)
- One-time hardware purchase (starting ~$70-$140 CAD) plus an optional Ring Protect subscription for cloud video storage and advanced features (key recurring revenue).
- Channel (How do customers discover and purchase the offer?)
- Dominant online retail (Amazon) and major Big Box stores (Best Buy, RONA, Home Depot). Fueled by a powerful network effect and word-of-mouth (social proof from neighbors).
Exercises for the reader
- Can you think of a totally different way to efficiently help this market?
- Can you think of a different market where an analogous strategy would work?
- What is the underlying need that the customer has beyond the immediate problem?
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