Running Head: TITAN NOTE ANALYSIS

Situation Analysis of Titan Note

Amy Lee, John T. Matthews, Keith Sant, Zahra Sabir
University of Washington, Tacoma

TMKTG 425 A
Dr. Jindal
4/27/2017
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Table of Contents

Company Background …………………….....…….………………………………….. 2

Situation Analysis:
Strengths ……………………..…………………………..……………………. 2
Competitors ………………………...…………………………………………. 3
Context ………………………………………………………...……………… 4
Customers ……….……………………………………………………………. 4
References ……...……………………………………………………………………... 5
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Introduction
The purpose of this paper is to identify problems related to the marketing efforts and
design a marketing plan for Titan Note, a recording device that converts voice to text for note
taking purposes.
According to their Indiegogo campaign page, the concept of Titan Note was conceived in
November 2015 (Jansson, 2017). “During college and university, the engineers and designers in
our team were frustrated that it was nearly impossible to pay attention to the lecture and still take
notes in order to study later on. We had professors who would go through information so quickly
that we simply couldn't keep up while writing all important things down.” Though this was an
issue for the company’s creators as students, they quickly realized that having to choose between
paying attention and taking notes followed them into their professional lives; thus, began the
workings of Titan Note.
Strengths
The main sources of strength for Titan Note is their active positioning on social media
platforms such as Facebook and Twitter, first-mover advantage, and financial resources. Through
social media, Titan Note builds awareness of the brand by creating visual campaigns of the
recording device being used in appropriate settings, sharing motivational quotes, and promoting
special offers. The current offer stands at receiving a free Titan Note in exchange for referring
four friends as financial supporters to the campaign. In addition to sharing their own content,
social media has enabled Titan Note to develop customer intimacy as they announce new
developments of the device directly to their followers, and maintain high responsiveness to
comments and messages -- on average, taking a day to respond. Through social media, Titan
Note also actively seeks feedback from their followers. For example, following several
customers expressing their desire for a Chinese translation feature to complement the current
languages offered on the device, Titan Note recently made an announcement that their team is
working on developing a translation feature for Mandarin (Jansson, 2017).
As expressed on their Indiegogo FAQ page, Titan Note as a device is the first of its kind
(Jansson, 2017). “Titan Note is the first and only device to completely replace your need to
manually take notes. Titan Note is a game changer and there are no apps or devices that can
compete with us.” Similar technology to the Titan Note include mobile apps and devices that are
only restricted to recording memos and not transcribing voice-to-text. Titan Note differentiates
from existing competing assistant devices like Amazon’s Echo and Google’s Home as the device
uses the latest technologies in speech recognition and voice biometrics to give very accurate
notes, and can translate to currently ten different languages such as French and Portuguese, all
the while offering charging capabilities for devices via USB port.
Titan Note is currently raising funds for production through Indiegogo. Indiegogo is a
crowdfunding site that allows entrepreneurs to solicit money to support their projects that can
vary from board games to full-feature films. The Titan Note Indiegogo Campaign was launched
on February 28, 2017 with a goal of obtaining USD$35,000 within the next two months. With
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only a few days left until the end of their 44-day campaign, Titan Note has successfully raised
USD$986,680, more than twenty-eight times their original goal. By utilizing crowdfunding as
their main financial resource, Titan Note is able to test a market; they can gauge the potential for
their success based on public response ("SWOT Analysis", n.d.). Additionally, the typical
downside for raising funds through venture capital include that a startup may not grow fast
enough to have the potential for a large public offering, Titan Note avoids this through
crowdfunding.
Competition
Given the current position that Titan Note has as not only a novice brand, but a new
market entry to the assistive smart-technology industry, the company is susceptible to
competitors that have stronger and generally more resources to develop similar, if not better,
technology than that of the Titan Note. Smartphone companies (e.g. Apple) presently have the
technology to translate speech into text. For example, the Siri feature on the iPhone is an
assistive AI that listens to the user, repeats the user’s message in both voice and text, and
responds to the user’s question or command in both voice and text. Further use of Siri allows
iPhone users to have a voice recording transcribed and sent as a text message. As the technology
of smartphones become more advanced, the interest and product life cycle of Titan Note may
decline as it enters the market. This decline will be imparted either through hardware available
with the purchase of a new smartphone device or software like the current Cassette application.
Cassette is smartphone application that can transcribe voice-to-text for a monthly fee of $10 to
$100. Although Cassette states that the app is “…currently measuring over 90 percent accuracy
in test conditions, though ambient noise and speaking style can affect accuracy,” Titan Note
claims over 94 percent accuracy and with proprietary software and algorithms that will improve
the inaccurate word count over time ("Cassette", n.d.). Titan Note also claims the device uses
multiple microphones and works within a range of 70 feet, while a range was not listed on
Cassette’s website (Jansson, 2017).
Tech giant, Microsoft, offers an application for notetaking called OneNote. The app can
record audio and create tasks that will then sync to a user’s Microsoft Outlook account. With
more than an estimated $100 billion of capital at their disposal, Microsoft has the ability to
develop software comparable to Titan Note and incorporate it into their popular Microsoft
Surface tablets and laptops (Kocieniewski, 2016). Comparably, Apple and other established
technology companies also have the resources to do the same with their devices.
Titan Note has an advantage over smartphone applications in terms of quality. The device
uses multiple microphones to increase the range and rate of accuracy, and it can differentiate
between multiple speakers. However, this will not prevent reputable tech developers like
Microsoft or Apple from cultivating their own version of voice-to-text technology and entering
the market by integrating the software into their existing devices. Yet, as a small stand-alone
device, the Titan Note could be preferred by consumers who desire the quality offered and the
minimally invasive size compared to a laptop or tablet. Additionally, the device’s $80 price tag
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makes it considerably cheaper to purchase than the Cassette application previously mentioned or
an alternative purchase of a tablet or laptop.
Context
Note taking is a process that is necessary throughout both educational and professional
careers; however, most students and professionals will agree that notetaking can serve as a
distraction when attempting to actively listen to the speaker, or that notes can prove insufficient
at times as some points were missed. Furthermore, as the addiction to the latest technologies and
innovations has been nurtured by Apple for almost a decade, other competitors like Samsung and
Google have stepped up and opened the playing field to new market entrants. In consideration of
the rate at which technology is advancing is far more accelerated now than ever before, the rate
of acceptance for these innovations as a tool to support learning and business operations is higher
(Baker, Miller, Dorris, & Collier, 2014). Public schools in the United States are increasingly
integrating technology within their classrooms with providing at least one computer for every
five students, and spending more than $3 billion per year on digital content, and turning
educational technology into a $7 billion industry (Herold, 2016). Also, according to a study by
Dell and Intel, 77 percent of American businesses are progressively using the latest technology
within their organization to ensure success, growth, and a competitive advantage (Billiar, 2013).
Customers
Potential consumers of the Titan Note device include business professionals, therapists,
journalists, and secretaries. For students in higher institutions, the benefits go beyond perfecting
notes. Many colleges and universities employ personal notetakers to sit through lectures and
write notes for students with disabilities or temporary handicaps; however, this process can leave
some students feeling uncomfortable. By allowing those students the option of Titan Note, their
sense of independence can be reestablished and institutions can save money.
Because Titan Note is a newcomer, the brand has little to no brand equity; furthermore,
the device would also be considered a high-involvement purchase because of its $80 price tag.
Most consumers will be skeptical of Titan Note’s quality and the high-involvement factor will
lead many to look to credible consumer reviews to verify the quality. A stamp of approval from
tech-savvy opinion leaders will be critical in convincing consumers to become early adopters and
to the overall success of Titan Note. Without support from the tech community, Titan Note’s
product lifespan can be similar to that of the over-hyped Google Glass.
Although there are many advantages to Titan Note, there may be some hesitation from
traditional note takers who are either set in their ways, or feel that the act of writing helps
consolidate memory. ​According to a study published in Psychological Science, “students who
write out their notes by hand actually learn more than those to type their notes on laptops” (Eck,
2014). If a substantial amount of consumers feel this way then it could limit the size of Titan
Note’s primary market segment -- students.
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References

Anderson, M. (2015). Technology Device Ownership: 2015. Pew Research Center: Internet,
Science & Tech. Retrieved 27 April 2017, from
http://www.pewinternet.org/2015/10/29/technology-device-ownership-2015/

Baker, C., Miller, J., Dorris, D., & Collier, H. (2014). Effective Technology Integration in
School
Facilities. Online.tarleton.edu. Retrieved 27 April 2017, from
http://online.tarleton.edu/ACEF/EffectiveTechnologyIntegrationinSchoolFacilities/Techn
ologyIL_FINAL_print.html

Big Idea: Technology Grows Exponentially. (2016). Big Think. Retrieved 27 April 2017, from
http://bigthink.com/think-tank/big-idea-technology-grows-exponentially

Billiar, T. (2013). Study: 77 percent of businesses rely on technology for success and growth -
VAR Staffing. VAR Staffing. Retrieved 27 April 2017, from
http://varstaffing.com/blog/hiring-for-it/study-77-percent-of-businesses-rely-on-technolo
gy-for-success-and-growth/

Cassette. Cassette. Retrieved 27 April 2017, from http://www.cassette.design/

Ferron, E. (2017). Creators of Titan Note voice recorder think it can take better notes.
Newatlas.com. Retrieved 27 April 2017, from
http://newatlas.com/titan-note-voice-recording-transcription-indiegogo/48404/

Herold, B. (2016). Technology in Education: An Overview - Education Week. Edweek.org.

Retrieved 27 April 2017, from
http://www.edweek.org/ew/issues/technology-in-education/

Jansson, E. (2017). Titan Note: Change The Way You Take Notes. Indiegogo. Retrieved 27
April
2017, from
https://www.indiegogo.com/projects/titan-note-change-the-way-you-take-notes-college-i
nnovation/x/16557448#/

Kocieniewski, M. (2016). Why Microsoft, With $100 Billion, Wants a Loan for LinkedIn.
Bloomberg.com. Retrieved 27 April 2017, from
https://www.bloomberg.com/news/articles/2016-06-13/why-microsoft-with-100-billion-is
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-borrowing-to-buy-linkedin

Satran, R. (2013). Are Technology Costs Killing Your Budget? Retrieved 27 April 2017, from
http://money.usnews.com/money/personal-finance/mutual-funds/articles/2013/10/24/are-t
Echnology-costs-killing-your-budget

SWOT Analysis by Econ Professors Hints Burdensome Regs Pose Threat to Crowdfunding.
CFIRA - Crowdfund Intermediary Regulatory Advocates. Retrieved 27 April 2017, from
http://www.cfira.org/swot-analysis-by-econ-professors-hints-burdensome-regs-pose-threa
t-to-crowdfunding/

Titan Note: Small yet powerful audio-to-text device. (2017). TechStartups.com. Retrieved 27
April 2017, from
http://techstartups.com/2017/03/08/titan-note-small-yet-powerful-audio-text-device/