Marketing Plan For Sustainable Offering- myassignmenthelp.com

Question: Discuss about theMarketing Plan For Sustainable Offering. Answer: Introduction Waste management techniques are widely diverse in different countries and nations (Marshall and Farahbakhsh 2013). Several European countries encourage the system of underground waste disposal systems with vacuum pipes to facilitate the waste transportation (Ludwig, Hellweg and Stucki 2012). In Australia and most parts of the United States the most common method of waste disposal is carried through vehicles to transport the wastes for disposal and landfill. The issues with waste management includes the collection of household waste and managing the land filling process under a legislative frame work (Brunner and Glasson 2015). This report deals with a new sustainable invention to facilitate the waste to be recycled and disposed of without hampering the ecology but channeling it towards an economic and social development as well among the community. Profile for Sustainable Offering The solar powered compaction bins has been designed especially for household purpose to reduce the need for waste disposal of every home as well as the lesser dependency on the municipal employees for the waste collection. This would help the families not only effectively disposing their house hold wastes but also this would be another source of generating combustible gas for multiple purpose (Madu and Kuei 2012). The Solar bins has a high economic value since it is almost nil on energy consumptions and high in its output (Mitchell 2013). Environment Analysis Eco Home Solutions consider in sustainability that has been appreciated and accepted by most people. Report shows that about 82% of Australian adults show major apprehension towards the ecology. The solar bin is one of the sustainable product that not only adds brownie points to the consumers but towards the environment as well, effectively reducing the excessive utilization of the resources and overload on the ecology. Marketing and Customer analysis The solar bin is for the targets consumers within the X and Y generations. Solar eco bins is mostly for young families or soon to be familial structures. The solar bin has well ecological and economic benefits (Kotler 2012). The target consumers should be kept smaller initially, in comparison to the entire demography of the city of Brisbane, Australia. This would be beneficial to gather relative and suggestive feedback for effective improvements and large-scale expansions (McDonald and Wilson 2016). Objectives The financial objective of the plan is to ensure an effective return of the initial investment on the production of these solar eco bins. The fixed and variable cost has been included in the initial budget, showing the profitability of using the appliance within the first year of operations. The solar eco bin is an addition to the pre existing product within a household that some of the homes already have and have been using. The economic and the ecological benefits are well explainable and measured for social awareness and economic benefits that can be calculated through sales report. The solar eco systems can be bought back from the customers with the buyback policy within the first six months of the product use as well as the older systems can be recycled and exchanged with newer systems. The marketing objective includes an effective customer satisfaction from the using of the product. As well as gaining exposure of the product to the varied market segment, that can be measured through marketing matrix and feedbacks. Customer Target Profile The geological demographics of the city of Brisbane, Australia has been taken up for this marketing plan. The demographics and the target audience is kept towards the X and Y Generation of both the genders of young or new families with a low to high range of income. The psychographics is both makers and experience individuals along with inhabitants having ecological concern. Positioning Value positioning The solar bin is a complete solution to one of the major problems. It has been specifically designed for the consumers who are looking forward for an effective solution for waste disposal as well as generation of usable form of energy out of it. This bin can be installed anywhere outside the home. It has a unique storage and newer waste disposal chamber along with solar incineration chamber to dispose of older and non-degradable wastes. The bin is medium, affordable and sustainable ion nature, making it value proposed. Market Research With the help of online survey, data has been successfully obtained from the potential consumers and to understand the customer needs the survey would continue to flow. The product being a new one and newly introduced, the secondary data would be helpful in the identification of the competitors SWOT analysis. Product Strategy Product The solar eco bin is a product of combination between durability and experience. The solar bin is not only acts a mini reservoir for the waste but it is also a recycling chamber of all the waste products of a household. Eco bin is meant for dumping all the solid wastes of the household. The solar bin has special pipe connection that channels from the bin that successfully direct the biogas that emits from the chambers, which in turn can be utilized as cooking fuel. This would be helpful in saving the ecology with less emissions and save economy with expenditure on cooking fuels (Chandrappa and Das 2012). The core benefits of the product is self recycling and eco friendly that not only recycles the waste, generates cooking fuels out of the biogas chamber but also the bin can be used to generate power to light the house hold using special charging systems and fuel cells to store the energy (Fahrenbruch and Bube 2012). The product is incorporated with lifetime warranty with minimal service charges. The solar eco bin is aimed towards to the consumers specifically the urban dwellers with little benefits in terms of successful waste management and disposal systems. The unique selling proposition of the product is that unlike tradition bins that needs to be manually disposed of the waste materials, this solar powered bin is self sustaining and can automatically process the waste depending on the nature. Not only the bin can favor waste disposal but it can utilize the waste materials to produce combustible gas can be stored and used for various purpose (Curry and Pillay 2012). The solar board attached not only powers the bin but the energy can be stored in other fuel cells and be used for future purpose. The solar bin is only a one-time investment with lifetime benefits (Tyagi and Lo 2013). Packing The design of Eco Home Solutions needs top be simple to reflect the simplification of waste recycling. The packing of the product would depend on the size of the product. The product needs to be in simple box created by BioPak out of pulp molding and stabilized materials and BioWrap, a form of biodegradable plastic. Labeling should be catchy and relative with the purpose (Kotler, P., 2012). Price The pricing would be connected with the cost of production of the materials needed for the manufacturing of the product. While estimating the retail price consideration should be made on the value of the benefits that the customers would receive by the product. Price refers to the value that the consumers give or exchange in return for obtaining the desired product or item (Kotler, P., 2012). The value refers to the benefits that the consumer receives from the product after buying or utilization (Kotler 2012). It can be considered that the price of the product can be estimated on the product value of the item. Eco Home Solutions is a new company that has introduced a new product in the market, it is necessary to ensure that the offering is profitable in the early stages to ensure survival in the tough market conditions. Since the product is new in the market and initially no competitors in the market, awareness should be propagate against the idea of using sustainable products. Offering of good quality products to ensure rising customer demands in the long run. Pricing Strategy The pricing strategy needs to be formulated in such a manner that it recovers the initial research and development and made affordable so that it can be borne by any average family and garner the benefits at the same time. In order to do that the pricing should be limited to an average of $400 to $600. To prevent the competitors to intervene patents and copyrights should be implemented (Kotler 2012). Promotion The solar eco bins main target audiences are the previous and the younger generations with newer potential and embarking on to new life. The idea of a clean and sustainable source of energy and environment can be done by inducing the true knowledge and benefits of a clean environment and persuading them to install one system that is beneficial for the long run (Waite 2013). This promotion can be propagated with free social induction campaigns and positing in social networking sites including blogs and websites. Environment awareness events and programs can be used as a platform to officially introduce and demonstrate the product, indirectly encouraging the customers to look forward into it (Rosenbloom 2012). Place The eco bins can be channeled through known retail and departmental stores in Brisbane. They can also be made available through bulk and online order. Special concession and offers would be made applicable for bulk orders to encourage multiple purchases. Customers who are willing to purchase yet unable to locate the availability of eco bins neither they have access to the internet for them orders can be taken through telephone order placing and the product can be delivered directly to the consumers. People The organization and management would be deployed accordingly to sufficiently handle and execute the entire logistics of Eco Home solutions. From the manufacturing of the solar bins to the effecting shipping and handling of the product to the consumers as well as effective after sales service to ensure better customer feedback. Process The entire logistics management would be self sufficient to handle effective crisis related to the production and the customer handling. The allotted team of the organization would handle the production along with the supply chain management. Individual and relevant divisions of the organization would handle the sales, marketing and the customer service related to the product. Physical Evidence In order to gather the physical evidence related to the efficiency of the product, customers can be provided with live demonstration about the functions of the product as well as its safe and user friendly interface. This can help the consumers get acknowledged about the utility and the nature of the device. To add leverage the customer can be given the opportunity to utilize free trails of the eco bins. Evaluation and Control The ongoing evaluation and control of the marketing strategy is extremely vital for the product and the company since it ensures the reaching of the estimated target consumers and generating newer customer bases as well as expansion of the brand. The financial target needs to be monitored on weekly basis to understand the rate of growth and development. The primary target of Eco Home Solutions is annual expansion and the availability of its products in a diverse segment including home appliance stores and departments. The lifetime warranty as well as the buyback and exchange schemes for interested and unsatisfied customer is an added point to the sustainability by recycling of the product for re sale. Conclusion With help of this report, an eco friendly product has been developed and launched in the market that functions on the marketing principles and the theories. With an alarming demand for a cleaner and lesser polluting environment this product has been specially devised, that not only recycles waste products but also generates renewable and non polluting form of energy, that can be used for different purpose. Solar Eco bin is a specially made garbage and waste disposal system that uses thermal or solar energy to operate and recycles the waste products as well as producing renewable source of energy such as bio gas that can be used for combustion purposes. The solar panel can be used to store the solar energy in fuel cells for future utilization. The target market is a small part of Brisbane city, mostly the older and younger generation. The product, pricing, place and the promotion has been devised according to the product and the needs of the target consumers. The pricing needs to be d eveloped in such a manner that it meets the initial investment of the company and it can be afforded by the consumers as well. 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