Marketing New Product - Solar Your Phone

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and integrate seamlessly with the iPhone. In the future we will aim for our target audience to be any mobile phone user, which therefore allows the product to be accessible for everyone.

Action Plan

Focusing on a number of key matters can determine the success of a product or service. Covering areas such as what the company will produce, how much they will charge, how the product and service will be delivered to the consumer and how the consumers will be aware of the product/service.

Product Proposition

Solar Your Phone is a product that also comes with a service. The product itself is a mini solar panel that can be built in to an iPhone to allow it to charge whilst there is sunlight. The fitting process of the product will be the service because it will be done for the consumer. The quality of the product will be at a very high standard as well as the service given to the customer. For consumers that get the product built into their phone will get a 2-year warranty that will be an added value. Also, when the consumer purchases the product, detailed information on the product itself will be explained to them, such as how it is functioned and the benefits on the product. This allows the service to be sophisticated and will show the consumer that the product is trustable.

Price

The pricing for the product will be between £60-80. The reason for this is because the cost of solar panels are high and the procedure of getting them fitted into the top of a phone will be difficult. The payment made will be one off and the solar panel can be used for a very long period. Psychological pricing will be most suitable for this product as it is a fairly high price. If the product is £69.99, it is closest to £70. However the buyer will associate it closer to around £60 rather than £70, which allows them to think they are getting themselves a bargain.

Promotion

For the promotion of the service we will try to keep advertisement refined and high-tech rather than it standing out too much. For example it will be advertised in technology magazines and technological product launches.

Place and Physical Evidence

Placing and location of the stores for solar your phone is very significant as the product also comes with a service. As it is aimed to be a high end product, the location of the stores will strategically selected to insure that the product is widely available and is accessible by the consumers. The decor colour of the store will be white to keep the store simple and the product at the forefront of the customer’s experience. Having an eco-friendly store is vital due to the nature of the product; therefore it will be sensible to have a store that uses solar panels to generate its electricity. There will be a website so the consumer can view the product online and all the specifics so they know exactly what they are purchasing and understand the service they will be given. There will be nothing irrelevant shown so the consumer can perceive that the business is serious. If we stick to a simple design it will convey the brand in a refined way.

People and Process

The employees working will be well-spoken, dressed smart and having exceptional customer service skills. They need to be on their job and ensure they know what they are doing. Customer service is vital and has to be at a very high quality so each customer is satisfied.

The process of the whole service given will be at a high standard so the consumer trusts the product and the brand.

Evaluation

A year after launching solar your phone, it turned out to be a success. The short-term goals were achieved and we are positively working our way up to achieve the long-term goals. After launching solar your phone, we had to promote it well for it to rise in the market and get recognition. Market research was done correctly therefore the product was suitable for the consumers.

As planned, the stores layout was sophisticated and simple which attract more customers, allowing us to achieve our goal of being established.

In the unlikely case of Solar Your Phone failing and sales decreasing, the contingency plan for the product would be to discontinue the product. Another option would be to go through what the company has done within the last year, analyse it, and see what areas need improving on.

If the solutions found after the analysis of the proposition were not achievable then selling the business on to a similar business would be considered as an option.

Conclusion

In conclusion, overall Solar Your Phone is a great success. The reasoning for this is because the product has filled the gap in the technology industry with a high demand of sales. This is due to the fact it is a niche product that can be used be everybody. Being a sustainable product has allowed it to attract more customers as all the power for it comes from a natural source.

References

Baines, P., Fill, C. and Page, and K. (2011) Marketing. 20110115th edn. United Kingdom: Oxford University Press, USA.

Daniel Lowther. (2009). GSMA Research Shows Off-Grid Charging Solutions for Mobile Phones to Power US $2.3bn Market Opportunity. Available: http://multivu.prnewswire.com/mnr/prne/gsma/37557/ Last accessed 1 March 2015.

Jaymi Heimbuch. (2009). Off-Grid Charging for Cell Phones Is a $2.3 Billion Industry. Available: http://www.treehugger.com/clean-technology/off-grid-charging-for-cell-phones-is-a-23-billion-industry-video.html . Last accessed 1 March 2015.

JILL KRASNY . (2014). The Fastest-Growing Industries on the Inc. 5000. Available: http://www.inc.com/jill-krasny/inc5000/2014/facts-and-figures-by-growth-rate.html Last accessed 20th February 2015.

Lehman, D. and Winer, R. (2001) Product Management (McGraw-Hill/Irwin Series in Marketing). United States: McGraw Hill Higher Education.

N/A (2009). Off-grid charging of mobiles powers a $2.3B opportunity. Available: http://www.eetimes.com/document.asp?doc_id=1172020 . Last accessed 23 February 2015 .

Peter, P. and Olson, J. (2004) Consumer Behavior and Marketing Strategy. United States: Boston (Mass.) : McGraw-Hill, 2005.

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