Executive summary
The marketing plan is designed by CCEE Engineering Solution which is a firm that deals with the production of solar tracking systems. The brand name of the firm’s solar tracking system is Solar Track. The marketing plan analyzes both the internal and external business environment within Australia. The external analysis considers the political and economic environment while the internal analysis relates to the strength of the firm’s management team. The strength of the firm’s management team is evident with regard to its effectiveness in time and financial management. The SWOT analysis illustrates the strengths, weaknesses, opportunities, and threats in relation to Solar Track. The plan also illustrates both the financial and non-financial goals of the firm. The target market of the product is also identified with regard to individual and institutional consumers. The marketing strategies illustrate the various strategies to be adopted with regard to pricing, promotion, and distribution. The budget considers the costs to be involved in launching the product to the market. Various considerations are also made to ensure the effective launching of Solar Track in the market.
Company background and product description
CCEE Engineering Solution is a private limited company that was established in March 2009 in Australia. The firm deals with the manufacture of solar tracking systems. After successfully completing the prototyping phase of designing the solar tracking system, the firm the management intends to launch the product in the market. The management of the firm has branded its solar tracking system as Solar Track. The solar tracking system will result in an increase in the output power of a given solar panel. This is through the creation of a perpendicular angle of incidence between the panel and the sun’s rays. The team has successfully designed the solar tracking system and the results have been an increase of 5% in the amount of power that is generated by the solar tracking system.
Vision
In designing Solar Track, the management of CCEE Engineering Solution has the vision of ensuring that their solar tracking system is adopted by approximately 5% of the customers in their Australian domestic market by 2020.
Situational analysis
External analysis
In the 21st century, many governments are considering utilizing other sources of energy. The reason behind this move is to limit their dependence on other countries as their source of energy due to political instability. The Australian government is amongst the governments that have adopted this strategy due to its vast solar energy supply. In addition, the Australian government is committed to maintaining a clean environment. This is my formulation of legislation that prohibits the emission of fumes into the environment.
Energy consumption in Australia has increased in the recent past by 40% per person. This has resulted in a constraint to the country’s energy resources (Healey Para. 1).
Customer analysis
Consumers have in the recent past become more sensitive to energy prices. This is due to the fact that energy prices have been on an upward trend. This has resulted in a disruption of their consumption patterns. As a result, most consumers are seeking cost-effective alternative sources of energy. One of their considerations with regard to energy is solar energy. This is because it is cost-effective in the long term and minimum maintenance is required. In addition, consumers have become more sensitive to environmental pollution by the use of other forms of energy such as petroleum. Consumers have also increased their consumption due to an increase in their disposable income. This is due to the fact that Australia has experienced a steady economic growth rate over the past decades (Monash 3).
Internal analysis
CCEE Engineering Solutions has a strong and dedicated human resource. This has enabled the team to work in harmony in the process of designing the solar tracking system. The team has been effective with regard to time management which has enabled the completion of the project in time. In addition, the team has also been effective in the procurement of resources necessary for project completion. In undertaking the project, the team ensured that the cost is minimized.
SWOT analysis of Solar Track
Goals
Financial goals
The firm’s management financial goal in launching Solar Track in the market is to increase its product awareness within the market. The management intends to gain a significant market share of 45% within the domestic market. The timeline of attaining this market share is expected to be 5 years from its launch. The management forecasts that Solar Track will reach market saturation within a period of 10 years.
Non-financial goals
The management of CCEE Engineering Solution is aimed at ensuring that their customers derive maximum value by utilizing the firm’s solar tracking system. This is through the provision of quality energy solutions to their customers.
The management of the firm is also committed to corporate social responsibility. This is by ensuring that society protects the environment by utilizing a renewable source of energy. In supplying the product to the market, the management will ensure that they are honest by not compromising on the quality of their product. This is through the incorporation of the concept of customer focus.
Target market
In designing Solar Track, the management of CCEE Engineering Solution targeted two main categories of consumers. These include the individual and institutional consumers. The industrial consumers consist of large-scale consumers specifically solar farms. Most large-scale farmers in Australia are shifting from the traditional farming methods and incorporating the concept of solar farming. This is due to its lucrative nature in terms of profitability and minimum overhead costs are incurred. In addition, the Australian government has legislation that limits energy utilization with regard to farming to 100 Megawatts per hour annually (Healey 1). The individual consumers consist of both domestic and commercial consumers.
Marketing strategies
The management of CCEE Engineering Solution is committed to ensuring that Solar Track is effectively launched in the market.
Product
Solar Track is well designed to ensure that it is weatherproof. This increases its lifetime since it will not be affected by exposure to different weather conditions. The product’s lifetime is also increased by the use of steel in its production. The consumers will benefit by utilizing the product since it will increase the output of the solar cells. Solar Track is differentiated by its capacity to track solar energy at a perpendicular angle. This will enable Solar Track to be well-positioned in the market (Jackson 4)
Price
In setting the price of Solar Track, the management will adopt the cost-plus strategy. This will ensure that all the costs involved in designing the product are incorporated into the price. This pricing strategy will also enable the management to include a profit margin of 25% in the price.
Place
To ensure that Solar Track is distributed in the entire market, the management will incorporate the use of agents in its distributional strategy. The agents that the management will consider are credible firms that deal with the installation of solar panels. The firm will also supply the product directly to the customers (Michael 65). This will be through the establishment of depots in various regions within the Australian market.
Promotion
The management has developed a comprehensive promotional strategy to enhance product awareness. The promotion of Solar Track will involve the use of advertisements through media such as radio, television, and print media such as catalogue and newspapers. Advertisement will also be conducted online by developing a company website. The website will be connected to the internet to enable the firm to conduct advertising more effectively and efficiently. The objective of the management in adopting a comprehensive promotion strategy is to ensure that a large number of potential customers are aware of the company’s product.
Budget
In launching Solar Track to the market, the following costs will be incurred.
Implementation
To ensure that Solar Track is effectively launched in the market, the management of CCEE Engineering Solution will implement the concept of customer focus in its marketing strategy. This will be through training its human resource to enable them to focus on listening to the customers’ demands with regard to their energy needs. The management will also recruit additional staff with superior marketing knowledge. The marketing staff will ensure that all the necessary market variables are considered.
The promotion strategy with regard to the advertisement will continuously. Commercial adverts on television and media will be conducted after every two months. The management will ensure that the adverts are aired during prime time in order to create awareness to a large number of potential customers.
Evaluation and control
The management of the firm will conduct continuous consumer market research to determine their response with regard to the product. The market research will enable the management to identify the perception of the consumers towards Solar Track. The market research will consider consumers preference with regard to various marketing variables such as pricing, promotion, and distribution. This will enable the management to incorporate the market demands in modifying Solar Track.
Works cited
Healey, Justin. “Our energy future”. The Spinney Press. 2009. Web.
Jackson, Bradley. “Product positioning strategies”. Enzine articles. 2009. Web.
Monash, John. “Australian consumer trends”. Australian Centre for Retail Studies. 2006. Web.
Porter, Michael. “What is strategy?”. Harvard Business Review. 2009. Web.