Since the last decade there has been identified a series of contradictory issues of social energy and transportation. The problems such as traffic congestion and air pollution have come out as the lingering issues in the daily lives of the individuals across the globe. Meanwhile, there has been realised a rise in the power vehicles as a response to the adequate conditions and time and appearing as a future tendency. The availability of the solar powered skateboards is a solution of the short-distance transportation as well as an entertainment experience too for the individuals. The paper will highlight several key concepts of the strategic marketing plan to be developed for introducing the products in the markets of Singapore (Silverfishlongboarding, 2016).
|
Strengths Eco-friendly technology, use of solar power Foldable Light weighted First mover advantage Easy to carry High quality warranty |
Weaknesses Large number of add-on’s are required Availability of trained manpower for the purpose of manufacturing High initial cost Expensive |
|
|
Opportunities Great foe short distance travellers Attract people who prefer light weighted and easy transportation Source of entertainment Growing market Technology advancement |
Strength- Opportunity
There are various opportunities such as to expand and continuous technological advancement which can be accomplished and gain profits from by supporting them with first mover advantage and offering high quality to the consumers (Paz, 2015) |
Weaknesses- Opportunity There are weaknesses of te product on which there is a need to have focus upon to eliminate the same and this can be done with the opportunities identified such as lowering down the cost by increasing the sales in global markets |
|
Threats Highly expensive solar panels Availability of cheap alternative energy sources in the market Increased competition in future High risk as entry level product |
Strength-Threat There are few threats which are need to sustain and to overcome with the identified strengths of the product such as the threat of influencing people to buy a little expensive product in comparison with the cheap energy sources by offering rich and supreme quality |
Weaknesses- Threat To avoid the threats identified, there is extreme need to overcome the weaknesses or reduce them. The threat of increased competition can be sustained by offering high quality products that are developed by the trained employees as well as by having continuous improvements in the product (Stratford, 2016) |
Marketing Objective
The key marketing objective of the product is to reduce the environmental pollution and enhance the use of solar power products by the individuals so that there can long term environment sustainability. It is also one of the most innovative and pioneering product that can certainly help the societies to have sustainable living and the young people to have a more entertain and fun transport and non-polluted transport experience with easy accessibility. Therefore, the company want to launch the product in Singaporean market so that there can be as greater market share and extended customer base (John, 2014).
Demographic Segmentation
From the demographical segmentation, the key customers from the age factor will be the people who are in a age bracket of 12 to 35 as these are the people who can operate and take effective use the solar powered skateboards. From the occupation point of view, the key users will be the youngsters who have to manage their daily work as well as have to visit their institutes and colleges rather than the one who are working in corporate sectors (West, Ford and Ibrahim, 2015).
Behavioural Segmentation
From the behavioural segmentation, the key customers will be the one who value money as they do not want to spend money on other transportation sources and have to save that money by taking sue of the solar power products. Another behavioural aspect is that the people who liked entertainment and fun will also prefer such transportation source as it is eco-friendly, entertaining and pocket-friendly.
Geographic Segmentation
From the geographical segmentation, the key customers will be both from the rural as well as the urban because there are transportation issues at both the regions. It is beneficial and for the people of rural areas who want an easy and affordable transportation. From the urban perspective, there are youngsters who want such gadgets that can help them travel fast at small distances for their daily work and thus they can be the potential customers (Baker, 2014).
Psychographic Segmentation
From the psychographic segmentation, the key customers will be the one who prefer buying those products which are eco-friendly and support in environmental sustainability rather than the one that cause pollution and other negative impacts upon the environment. Thus, the potential customers from the psychographic segmentation basis are the one who have such characteristics or specific attitudes
From these four different segments, the target segment is the demographic segmentation as they are the most potential and extended segment which have those potential buyers who are more likely to be attracted from the products and can be influenced to purchase. The reason for selecting this particular segment is that the key target customers are youngsters only as well as the college going students. Thus, this is the targeted segment for the product (McDonald and Wilson, 2016).
Product
The product is the Solar Power Skateboards which are highly eco-friendly and energetic transportation with high level of environmental sustainability and responsibility which are best for short-distance transport and offers the users an exceptional experience of entertainment. There can be easy use of these skateboards to visit schools, high streets or any other short distance places. The product only takes a total of 4 hours for complete charging of the battery through the solar power. The best feature of the product is “Charging while riding” which means that the users can effectively charge the skateboards while they are using it, so there is no risk of battery loss (electric-skateboard, 2017).
Price
The price of the solar powered skateboards ranged from $80 to $120 varying as per the features, designs and functioning. The product is available at an affordable price so that the middle class as well as lower middle class people, youths and youngsters can easily purchase them for their daily use. the prices are quoted from the perspective that it is just one time investment and in future the consumers have no future expense in respect with charging or battery for taking sue of these skateboards (Silverfishlongboarding, 2016).
Place
The place selected for the launch of the product is Singapore as it is one of the best places to market the solar powered skateboards. The skateboards will be available at various regions in Singapore at the retail stores. One of the key reasons behind selecting Singapore is that there are number of colleges, universities and high percentage of youngsters that can efficiently take use of this product for their daily purpose. As well as the markets of Singapore are also dynamic and have an acceptance to new and innovative products. Thus, various regions of Singapore are the target places for the product (Eastman, et al., 2015).
Promotion
For the promotion of the product, the company will take use of several promotional tools and strategies such as firstly the social media tools which can help in enhancing the presence of the products on various social media platforms so that people can be attracted and mainly the youth. Secondly there will be posters and campaigns in the various universities and colleges to fetch the attention of the students. Another promotional ways are advertisements in newspapers and on television so that maximum number of masses can be the potential customers of the product. Other promotional techniques which can also be used is giving discount on initial 100 purchases, discount coupons on purchase of one skateboard which can be used at the time of purchasing second skateboards. Thus, all these promotional tools will be use to have huge promotion and marketing of the product (Agnihotri, et al., 2016).
Attention
To fetch the attention of the potential buyers, the company must provide additional offers and discounts so that these strategise can facilitate the individuals to purchase the products and attain benefits of ‘first come, first serve’ (Hollensen, 2015).
Interest
For evoking the interest of the potential customers, the company must approach the various colleges and the universities as at such places there are high chances of attaining the interest of potential buyers (Mohr, Sengupta and Slater, 2009).
Desire
To increase ten desire of the potential customers, they smut be offered free trial or test ride of the solar powered skateboards so that they can decide whether they have to buy or not and can also judge the efficiency of tea product.
Action
The final step or action is to sell the product to the potential customers and make them understand the way these skateboards are used, charge and explaining other benefits of these skateboards to them (Aanesen, Heck and Pinner, 2012).
Financials
There will be a need of initially a huge capital amount to manage all the activities and functioning of the solar powered plant. There are several activities such as setting up of stores, recruiting people to manage operations and sales, raw materials, marketing activities, etc. therefore, there will be requiring huge capital for managing these activities.
Control on Implementation
To have an effective controlling on the execution and implementation process, there is a need that all the process and steps must have a proper check and evaluation. For the control process, there is a need to have a periodic audit of the marketing strategies and the manufacturing and sales of the product so that actual data and variance can be analysed. Secondly there is also a need of monitoring the prices of the product and there must be effective consideration of other factors too such as cost of production, demand of the product, etc, so that the price can be adjust accordingly. The other controls on implementation include evaluating the placement of the product, customers’ accessibility and need of repositioning of the product (Nidumolu, Prahalad and Rangaswami, 2009).
Conclusion
In such a dynamic and disturbing environment, there is an essential need to have increased number of environment sustainable and eco-friendly products rather than manufacturing those products that affects the sustainability of the environment in a negative manner. From this report, kit can be concluded that the solar powered skateboard is one of the most innovative products to solve the issues of short distance transportation as well as air pollution related issues. It is analysed atht the product can have a better future and business sustainability in the markets of Singapore as the Singaporean markets are vibrant and good for businesses and new ventures. Thus, it can be concluded that with efficient marketing mix and a strong and strategic marketing plan, there can be fetched highs ales for the newly launched solar power skateboards as well as with effective control on implementations, the company can achieved its target in a rapid manner with potential outcomes.
Being a student, there are number of time when I also face the short distance transport issues because of unavailability of vehicles, mechanical problems or any other barricades. In my opinion, the present youth has a vast demand for such solar powered skateboards as they are reasonable, eco-friendly and easy to use. I am also interested in buying such product which can resolve my daily issues and help me in managing my routine operations in a more structured and easy way. From the SWOT analysis and the marketing plan of the product, I can say that the product has numerous strengths which are its potentials for fetching the attention of the potential customers. As well as Singapore is a nation of opportunities, thus, the place chosen and the strategies used for marketing the product are also efficient. Thus, I will also make my friends understand the importance of taking use of these solar powered skateboards in our personal lives as well as from environmental perspective so that they can also purchase them and support the development of a sustainable environment.
List of References
Aanesen, K., Heck, S. and Pinner, D., 2012. Solar power: Darkest before dawn. McKinsey & Company, 4.
Agnihotri, R., Dingus, R., Hu, M.Y. and Krush, M.T., 2016. Social media: Influencing customer satisfaction in B2B sales. Industrial Marketing Management, 53, pp.172-180.
Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.
Eastman, J.K., Eastman, K.L., Gleim, M.R., Lawson, S.J., Robinson, S.G., Huang, L., Moore, R.L., Moore, M.L., Shanahan, K.J., Horky, A. and Mack, B., 2015. Marketing management.
electric-skateboard, 2017. Solar Powered eboard concept- charging the battery while you ride (DONE BUILDING!). Accessed on: 20th September, 2017. Accessed from: https://www.electric-skateboard.builders/t/solar-powered-eboard-concept-charging-the-battery-while-you-ride-done-building/196
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
John, B.A., 2014. Optimisation of an electric powered air-gliding skateboard.
McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons.
Mohr, J.J., Sengupta, S. and Slater, S.F., 2009. Marketing of high-technology products and innovations. Pearson Prentice Hall.
Nidumolu, R., Prahalad, C.K. and Rangaswami, M.R., 2009. Why sustainability is now the key driver of innovation. Harvard business review, 87(9), pp.56-64.
Paz, E.B., 2015. Delivery of affordable alternative energy resources today and tomorrow: facing up to the fossil fuel problem.
Silverfishlongboarding, 2016. World’s 1st Solar Electric Skateboard Pre-sale on KickStarter. Accessed on: 20th September, 2017. Accessed from: https://www.silverfishlongboarding.com/forum/general-longboarding/418192-worlds-1st-solar-electric-skateboard-pre-sale-kickstarter.html
Stratford, E., 2016. Skateboarding as Social and Environmental Praxis: Navigating a Sustainable Future. Geographies of Global Issues: Change and Threat, pp.1-21.
West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive advantage. Oxford University Press, USA.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Contact Essay is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Essay Writing Service Works
First, you will need to complete an order form. It's not difficult but, in case there is anything you find not to be clear, you may always call us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download
