Standard clock radios have long had two alarms that can be set independently. This convenience, however, was introduced in very different times. As families' lives have become busier, two settings are often no longer sufficient: We are often forced to reprogram that second alarm back and forth between two alternate times.
A company's advertising that a particular clock radio has three settings should allow it to stand out from the crowd, which would be a notable plus: Currently that's hard to do, except by cutting prices even further than the competition has already done.
The 3-alarm unit could potentially even sell for a modest premium. Since manufacturing costs would be only marginally higher, this would translate into considerably higher profit margins (until other companies copied the feature).
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Why stop at three? Have more, an program them over your computer, or a direct entry keypad.
Classic is right. One way to make an idea like this fly would be to have the alarm clocks talk to a computer where you could program different wake up times, alerts and other appointments and then send them off to the clock.
My hope is that cellphones will soon do all this. Most of us probably charge our cellphones near our bedside. Why not have ultimate alarm capabilities on that phone? Program daily alarms, and/or multiple alarms a day. Different alarms for different people (one song wakes your partner, another song wakes you). Download various alarms, like calming, ascending (in volume) soothing sounds. Wake to a calm voice telling you about the weather for the day. Have an easy nap countdown alarm option, as well. Endless possible iterations.
My cell phone does have alarms, and I do occasionally use them.