 

/ / / / ...
Find solutions for your homework

Question: Marketing Plan Project - Evaluating a New Product

Opportunity Objective In this project, y...

Marketing Plan Project - Evaluating a New Product

Opportunity Objective

In this project, you play the role of a marketing manager/entrepreneur whose task is to study the market
and the strategy for a new product or service idea that your company is considering and develop a
marketing plan. You must choose a new product, or service idea that your group is interested in. Ideally,
the chosen product concept must not be a “me-too” business opportunity that copies some existing
product. You are encouraged to choose a product or service that is relevant to the company or industry
that one or several of the group members are interested in. It could also be a business concept that you
have been considering.

Assignment Report Format

The final written assignment should not be more than 2500 words (excluding the executive summary). In
addition, you may attach up to 5 exhibits which present any supporting analysis that you have done. The
final report should contain the following:

1. Executive Summary: This would be about 1/2 to 1 page in length which succinctly summarizes your
new product idea, your segmentation, positioning, and marketing mix recommendations (minus
recommendation support), and the key insights that you derived. You do not need to add
implementation details. The executive summary must be kept to under one page and is not included
in the word limit for the report.

2. Products/Services Description: This should be a brief description of the product or service and its
market. You can include the value proposition; core product benefit for the target market, the
relevant product attributes and features. Some of the suggested questions are:

a. What are the benefits of your product? Are any of these benefits offered by your competitors?
b. Is there anything special about your product?
c. Do you enjoy the favor of your customer? Alternatively, do they favor one of your competitors?
d. Which impacts (positive and negative), if any, do you expect the following factors to have on both
your product and company? Social factors, Demographic factors, Economic factors, Political and
legal factors, Competitive factors, Financial factors, Special interest factors: Consumer rights groups,
Attitude of media
e. Describe each of the applicable consumer buying behavior steps in detail (from your customers’
point of view): Problem recognition, Information search, Evaluation of alternatives, Purchase, Post-
purchase behaviour

3. Objectives: This is a brief statement of the ultimate business goal of the marketing plan. In addition
 to the ultimate goal, you might also list necessary sub-goals to achieve the ultimate goal (i.e., key
targets and activities that must be accomplished to achieve the ultimate goal). These will necessarily
be of a marketing nature. Furthermore, this section should list the key performance indicator(s) that
will be used to measure success and the timeframe in which you plan to achieve the goals.

4. Segmentation, Target Market Identification and Positioning: You should conduct a segmentation
analysis considering various ways to segment the market and select the optimal target market
segment(s). You must consider alternative positioning platforms for your chosen product concept
and choose the optimal positioning for the product. In general, two to three variables are enough to
segment a market, so do not attempt to use all of them.

Further, decide (here again, justify) which strategy for selecting target markets you will be using:
Undifferentiated targeting, Concentrated targeting, Multi-segment targeting

5. Marketing Mix Recommendation: You must specify what the marketing mix challenges are if the
product were to be launched and provide recommendations on the proposed marketing strategy
(product, price, distribution, promotion and advertising). You do not necessarily need to cover every
element of the marketing mix, but may focus on the ones that are most critical for your problem.
This section will probably be the largest section of the plan because it is where most of the
marketing recommendations are made and justified. Credit will be given to groups that are able to
integrate the components in #4 and # 5 and demonstrate their interrelationship in the report.
Groups will also benefit from applying the concepts and issues discussed in the class throughout the
semester.

Product related decisions:

a. Decide whether your consumers will view it either as convenience product, a shopping product
(homogenous vs. heterogeneous), a specialty product or an unsought product. Defend your
reasoning.
b. Decide whether you will develop a brand for your product or whether you will offer a generic
product. Defend your choice.
c. If you decide to develop a brand, explain which of the following branding strategies would work
best for your product (here again justify your choice):

Manufacturer’s brand: individual vs. family brand

Private brand: individual vs. family brand

d. Explain which category of new products best describes your new offering:
e. Decide on the product category your product belongs to (justify your decision) and discuss at which
stage in the product life cycle you would place this category and why.
f. Discuss the implications of the product life cycle for your product in terms of product strategy,
distribution strategy, promotion strategy and pricing strategy.

Pricing related decisions:

a. Which pricing objective you will pursue (justify your choice): Profit maximization, Target return on
investments, Market share (units or dollars), Sales maximization
b. Which pricing strategy you will follow (justify your choice): Price Skimming/Premium Pricing,
Penetration Pricing/Discounting, Going rate pricing, Perceived Value Pricing
c. Which of tactics for fine tuning the base price you will choose (justify your choices)

Distribution related decisions:

a. Choose which of the following distribution channels would be most adequate for your product
(justify your choice in terms of market factors, product factors and producer factors):

Producer -> Consumers

Producer -> Retailers -> Consumers

Producer -> Distributor -> Retailers ->Consumers

Hybrid Channels

b. What level of distribution intensity will your product require and why?

Marketing Communication related decisions:

a. Define the benefits your product/company has to offer.

b. Based on these benefits, develop at least two advertising appeals and evaluate them in terms of
desirability, exclusiveness and believability.
c. State which of these appeals is going to be your unique selling proposition and develop a slogan.
d. Decide on the executional style of your ad.
e. Which Consumer Sales Promotion would you execute and why?
f. Which Trade Sales Promotion would you implement and why?

6. Implementation Details – Action Steps, Financial Evaluation, Controls: here is where you will include
your important action steps, your timeline for key decisions and actions, your assessment of the risks
you face with backup plans to mitigate risks if/when they arise, your financial analysis that provides
evidence that your plan could succeed, and a list of the metrics and key performance indicators you
will monitor to determine whether your plan is working.

Time Line

The following is a suggested timeline. The only official date is when you must submit the groups and your
final report.

Week 1:

a. Convene group and pick product idea

b. Conduct secondary research on product category, market, and competitive environment.

Week 2:

a. Develop Survey Questionnaire. Pre-test and refine the questionnaire on 2-3 consumers.

b. Collecting data (approx. 50 respondents) and analyze data. Make decisions on STP and the
design of product/service.

Week 3:

a. Make decisions on marketing mix recommendations

b. Write marketing plan report.

Expert Answer

Ishan43 Null
answered this

T he Interesting Company

(A transparent Solar Panel Company)

An Overview: Imagine a world where we could generate electricity using the surface of our windows,
smartphones, our car's sunroof, or the glass roof of our office building. What sounds like a far-away dream,
is on its way to becoming a reality thanks to transparent solar panels. Conventional solar panels, more
specifically solar photovoltaic panels, absorb sunlight and convert photons (particles of sunlight) into
usable energy. The difficulty with making transparent solar panels is that the sunlight passes through the
transparent material. This means that the process that generates the electricity in the solar cell cannot be
started because no light is absorbed. This article presents two interesting attempts to overcome this
obstacle: partially transparent panels and fully transparent panels employing organic salts, detailing the
advantages and disadvantages of solar panels of these kinds.

As we all are familiar that solar power is clean green electricity sourced from sunlight or in a few cases,
from the warmth from the sun. Installing solar power systems in a residential setting generally means
setting up a solar photovoltaic or solar thermal system on the roof. Solar energy may be a renewable free
source of energy that is sustainable and inexhaustible, not at all like limited fossil fuels. It is additionally a
non-polluting source of energy and it does not emit any greenhouse gasses when creating electricity.

Playing on Elon Musk’s Boring Company, we came up with the name since we want to do something even
more revolutionary than the legendary billionaire’s side company to help the world.

Mission statement:

Creating a revolutionary product to offer the most convincing benefit in the sun-oriented energy industry.
Devoting ourselves to a superior future for mankind as well as our earth. Doing everything at a value
everybody can manage.

As we clearly stated that our main goal is to make breathable again, we also wish to prevail as a respectful
brand in the market out there. We believe everyone is aware of climate change and how rapidly it is
affecting the earth. So, instead of creating a product that does not utilize scarce resources but gives back
to us our team is very confident about the success of the company in the future.

We pledge to be loyal to our customers and all our employees. We hope to bring positivity to the world.
After such a rough and heart-breaking year, we need something to look forward to. Every company needs
to pull-off creative marketing acts to be noticed and get people interested at first. Well, of course,
everything sounds simple and easy in theory, but we are willing to hire highly skilled workers who will
share the same vision as we leaders do. Because doing all the work cannot be managed by 3-4 people.
Every successful business needs dedicated employees.

Finally. There is something called “Interruption marketing” which is not something we are aiming for since
this type of marketing is going out of trend slowly like interrupting your flow from the activity you are
engaged in. Instead, we are aiming for “Permission Marketing” which is more appropriate and has the
power to establish stronger relationships with potential customers.

T he Opportunity:

The Interesting Company has seized the opportunity and they will not let it slip.

The transparent solar panel technology will metamorphose the solar energy landscape. With this
innovation, solar is no longer going to require large land parcels or unattractive roof spaces. Aesthetically
appealing and highly efficient solar shingles. Easy way to contain personal energy needs without harming
the environment. Generally, solar energy technology helps to reduce dependency on fossil fuel, as fossil
fuels are burned it produces Greenhouse gases particularly carbon dioxide (CO2) which lead to rising
global temperatures and climate change. Switching from fossil fuels to solar power in the state has the
same emissions reduction effect as planting around 150 trees every year. Solar energy creates clean and
renewable power from the sun and benefits the environment while being like a regular window or glass
with this new technology. Solar is known to have a favourable impact on the environment.

According to an analysis by National Renewable Energy Laboratory (NREL) Solar energy reduces
respiratory and cardio health issues as they found that widespread solar adoption would significantly
reduce nitrous oxides, sulphur dioxide, and particulate matter emissions, all of which can cause health
issue. (Matasci, Sara, 2020) The transparent solar panel technology can be used on commercial tower
buildings with glass covering most of the building. It might be a bit costly in the initial stage but in the long
run, it is cheaper than the traditional way while helping the environment.

With that being said, we are ready to serve and lose ourselves in the making of something that has the
potential to change the world completely.

S .W.O.T. Analysis:
ngths Weaknesses
· New · Climates with a short
technology heating season are less
suited for solar heating
· Invisible system
wiring system
· It requires a sun-
· Easy high- facing window
speed
production · It requires buildings
with sufficient day time
· One-of-a- heating
kind
· Low awareness
· Contributes
to the energy · Trial – Getting people
crisis to
experience/understand
· Benefits the what this product can
environment do
· Low-cost · Uninformed – How
manufacturing does this new
technology work?
· Works in
natural
&
artificial
lighting and
shade

ortunities Threats

· Low cost · Competitors might try

to copy the panel
· Ability to construction without
harvest understanding the
personal science behind the
energy needs precision perforations
in the panels
· Reduces
dependency · The cost of fossil fuels
on fossil fuels may remain low in the
next years reducing
· New Concept the savings achieved
& Innovation with solar air heating
· Commercial · Governments might
friendly abandon climate
change concerns
· Turn existing
commercial · Big Industry in
glass into window and solar panel
electricity manufacturers

· Possibility not
sustainable for
weather conditions

· Possibility not suitable

for commercial
 manufacturing

ds: Green, Organic and Sustainable. e words express it all.

T arget Customers: It may sound obvious that our target market/customers must be everyone on the planet
since we are promising to bring affordable transparent solar panels that will be available to many nations.
Yet, there are still many factors that will hinder us from reaching this main objective of ours. Hence, we
currently hope to first establish the market with the following types of individuals, which in the long run
will help us create a better brand image and add the element of trust whenever someone will hear the
name The Interesting Company.

(a) Climate Change Advocate: These people will do everything they can to help save the
environment. They will typically vote for the Greens party, own an electric car, and are keen on
recycling. They are generally younger, educated, understand the science behind greenhouse gases.
They know that whatever they do will only be a drop in the ocean but want to make a difference.
They fear that if they are not responsible for taking control, the world will be a very different place
in a few decades. They also hope that their children will be able to enjoy the world as they are
now.

(b) Calculated and frugal investor: Calculated and frugal investors are careful with their money.
Their primary goal is to spend wisely and be lean if possible. They will typically have a family in a
large-sized home. They will have heaters, air conditioning systems, multiple large TVs. Conserving
energy is not one of their primary concerns. They may be watching out for government rebates
with a keen eye. They know what power company they are with, how much they are paying, and
whether they are under a contract. They may already have their smart meter readings on file. With
that, they would be able to calculate what the payback period will be. These types of consumers
are very analytical and will not mind paying more for better quality. The most important criteria for
them are seeing the value of the investment. The shorter the payback period, the lower the risk.

(c) Energy independence seeker: The idea of not needing energy from another source fills these
types of consumers with joy. They may already have or are looking to buy an electric car. This
means they want to control the generation, storage, and consumption of electricity. As such, they
may be interested in getting a battery to go alongside their panels. They may be in an area where
there are many power interruptions. They may feel frustrated that their daily lives are being
interrupted by something out of their control. They want to look at their electricity bill and know
that they have either contributed to the grid or hardly used any grid electricity.

(d) Tech Companies and the future market: Finally, the future of the market as we mentioned
above that our main motivation is to spread our product globally to bring a drastic change which
will further protect the environment is going to be bigger tech companies. This will involve patience
and consistency. But we hope to get there soon.

Product:

Just the way solar roof panels are currently produced utilizing different technologies (Solar City’s solar
shingles and other technologies), solar windows are too being created utilizing different techniques. The
two major types of transparent solar panels include partial and full transparent panels. The features are
pretty self-explanatory as well. Once you install a solar panel you will not have to pay any bills for your
electricity consumption. Now, imagine if your smartphone had the same ability to charge on its own under
direct sunlight? Instead of affecting the environment by producing heat, they will use nature to run
themselves.
 (i) Partially transparent solar panels: A German manufacturer, Heliatek Gmb, has created this
partially clear solar panel, which can retain almost 60% of the sunlight it gets. Compared to the
conventional solar PV cells, the somewhat transparent solar panels have lower productivity at 7.2%.
However, solar power generation can be expanded by adjusting the adjustment between the
daylight that is transmitted and absorbed.

(ii) Fully transparent solar panels: As described at the starting of this report, researchers at MSU
have as of now accomplished a breakthrough to create completely transparent photovoltaic glass
panels that take after regular glass. Researchers assess the productivity of these completely
transparent solar panels to be as tall as 10% once their commercial production commences.

(iii) Eco-friendly production of transparent solar energy: Solar is a renowned clean energy source,
but a few claims it is not eco-friendly. Let us dispel the myths and discuss the natural effect of solar
energy. Most people need to ensure the planet, which implies more of us need to utilize renewable
sources of energy like solar power. With a normal yearly development rate of 50%, solar energy is
experiencing a major surge in popularity in green circles. Solar energy is not as naturally friendly
because it is displayed to be. Whereas we concede that solar energy is not idealized, we do accept
the green energy source has the control to convert the energy industry. New price estimates for the
Solar Roof come in at $33,950, a number that includes a new roof and all assessed solar incentives
you would claim upon installation. The Solar City website pegs the Solar Roof at $1.99 per watt (W),
a number far below the national normal taken a toll of solar panels ($2.99/W). It will be interesting
to see how prices conclusion up looking in real quotes if and when the Solar Roof closes up rolling
out in huge numbers soon.

Place:

With plenty of sunlight and moderate temperatures, solar works best in regions with light winds and low
humidity. Bringing all of those factors together, the Oregon/Utah researchers found that regions currently
covered with crops and grass provided the most optimal conditions for solar all over the world.

It makes sense that plants and solar panels do well in similar microclimates. One could think of agriculture
as a form of solar harvesting where the sun’s energy is stored in the chemical bonds of the plant matter
and agricultural activities already occupy those places on earth most amenable to solar harvesting.

Cities in Saskatchewan have the highest solar photovoltaic (PV) generation potential in Canada.

On average, municipalities in Saskatchewan are exposed to the greatest amount of sunlight, followed by
those in Manitoba, Alberta, Ontario, and Quebec. Although all provinces and municipalities within Canada
have solar PV potential, the extent of their potential varies widely. Exposure to the sun’s rays is affected
primarily by climate, latitude, and elevation. Potential sunlight is only one factor that determines solar PV
potential.

· Channels of Distribution: A direct sales business model eliminates any intermediary in the
distribution process, leaving the brand to sell products to customers on its own. That means there
is no retailer or third-party outlet to stock inventory and promote products. Arguably the most
visible example of a direct sales approach comes courtesy of Apple. In many cases, customers need
to go through the brand itself to buy software, devices, and other products. Apple manages its
physical shops and digital stores where it prefers to sell its wares. It does have a presence in third-
party brick-and-mortar retail outlets, but the company tries to direct potential and returning
customers to its branded stores.

So, this method of distribution is most favourable for the Interesting Company.

· Product Location/Availability: For starters, our products will only be available in selected
provinces such as Saskatchewan, Manitoba, Alberta, Ontario, and Quebec. We will be working on
selling our products online to deliver Transparent Solar Panels all over Canada.

Price:

We disclosed that the prices will be set according to the size of the buyer’s pocket so that is how we are
planning to come forward. The prices will be fixed at around $0.50 square feet. With that being said it
establishes a cheaper product as compared to many other well-renowned brands who are already
engaged in selling solar panels. The dominance of Solar Panels is seen in countries like Morocco, China,
and India. It is about time for Canada to be put next to these countries whenever someone mentions solar
energy.

Why we are Sales Oriented?

Because our main focus is not just to generate profit but to connect with people and spread awareness
about how important our product is for the future everyone is passionate about.

What about the competition?

Most Canadian Solar PV systems are typically priced between $2.80 and $3.34 per watt, which makes them
a strong value in the market for home solar. This means that, for an average 6 kW system, your gross cost
(before you subtract any tax credits or other incentives) would be anywhere from $16,800 to $20,040. So,
The Interesting Company is not producing the regular Solar Panels, we are coming up with newer
technology of Transparent Solar Panels which will be offered at 0.50 CAD.

And what about the Price Quality Relationship?

We wish to keep our product’s quality significantly higher than what has been witnessed by the market
before. Our startup is still under works and sometimes we have to settle for a lot of things, but after we get
a grip on the market we hope to work together with big firms like Google and Apple. Since these
companies are already engaged in protecting the environment and will not shy away from something
revolutionary which may completely change the way they make products. So, we may have compromised
before, but we will not compromise again on quality.

Promotion:

(i) Door-to-Door (Direct Mail): Door-to-door could be a canvassing technique that is generally
utilized for sales, marketing, advertising, or campaigning, in which the person or persons walk from
the door of one house to the entryway of another, attempting to offer or publicize a product or
service to the common open or gather data. Now, this is another example of Permission Marketing,
where we hope to establish a direct relationship with the interested party. This allows a better
understanding of what they want.

(ii) Radio/Telemarketing: A TV advertisement (also called a TV commercial, commercial, advert,

TV advert, or simply an advertisement) may be a span of TV programming created and paid for
by an organization. It passes on a message advancing and pointing to advertise, an item or
benefit. Promoters and marketers may allude to TV commercials as TVCs. However, this type of
marketing is referred to as Interruption Marketing which may not be appreciated by some
people who are not very interested in watching our imposed advertisement over their favourite
sports game or binge- worthy show.

(iii) Internet: The most adapted method of marketing nowadays. The Internet has now become a
part of our lives without whom many cannot imagine their lives. It is a source of income for many
and after the pandemic has been the only medium for the world to connect and still be able to
work. Very often we see when celebrities endorse a product, it leaves an enormous impact on the
product and brand. Getting the right people to endorse your product on the internet may be one
of the best ways to spread the word.

(iv) Newspaper: May be considered old but many veterans and old aged people still rely on the
golden source of news and information. The Newspaper. This may be a good opportunity to
market our product and grab the older generation to get interested in the Interesting Company.

(v) Sales Promotion: A method of persuading a potential client to purchase the item. Sales
promotion is planned to be used as a short-term strategy to boost deals it is rarely reasonable as a
strategy for building long-term client loyalty. Some sales promotions are aimed at buyers.

(vi) Public Relations: As we mentioned above, this style of marketing will create stronger relations
with our clients.
 (vii) Website and Social Media: Finally, the most important type of marketing in the 21 st century will
not be wrapped up without mentioning social media. So, why not? We will use social media to
reach out to individuals around the globe.

M arketing Research:

v Industry Analysis: The global solar energy market was valued at $52.5 billion in 2018 and is
projected to reach $223.3 billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026. Solar
energy is the radiant energy emitted from the sun, which is harnessed by using various
technologies such as solar heating, photovoltaic cells, and others. It is an efficient form of
unconventional energy and a convenient renewable solution toward growing greenhouse
emissions and global warming.

v Consumer Analysis: The growth of the solar energy market is driven by an increase in
environmental pollution and the provision of government incentives & tax rebates to install solar
panels. Also, a decrease in the water footprint associated with solar energy systems has fueled its
demand in power generation sectors. The demand for solar cells has gained major traction owing
to a surge in rooftop installations, followed by an increase in applications in the architectural sector.
Furthermore, the demand for parabolic troughs and solar power towers in electricity generation is
expected to boost the demand for concentrated solar power systems. With many celebrities and
politics speaking about climate change on every occasion they get the opportunity to, people are
aware of the effect our traditional ways are causing us and the future.

v Competitive Analysis: Emerging economies such as China and Japan have significantly increased
the production of solar technologies owing to governmental tariffs and the merger & acquisition of
local manufacturers. Moreover, North America and Europe have largely focused on research to
maximize solar potential. The Middle East and Africa have also gained traction owing to an increase
in applications of solar energy for power generation, agriculture, and architecture. Companies like
Elon Musk’s Solar City and Canada Solar are a threat to a business. They may come after our style
and since they already have a larger share of the market it would be easier for them to get better
results than a startup.

v Opportunity Analysis: The development of photovoltaic (PV) storage systems is essential to

increase the ability of PV systems to replace the existing conventional sources. With the rise in
demand for PV installations, the adoption of storage grid is projected to increase, which fuels the
demand for lithium ion-powered battery for solar energy storage and increase the solar energy
market growth. The amorphous silicon cells segment is expected to witness maximum growth
owing to an increase in installations and utilization in solar panels. Moreover, the demand for
copper indium gallium selenide (CIGS) is expected to increase during the forecast period, owing to
the rise in cost-effective solar panels. Furthermore, low-cost manufacturing and an increase in the
efficiency of solar modules are projected to boost the demand for cadmium telluride during the
forecast period in the solar energy industry. Lastly, this can be a very good opportunity not only for
us but for many other startups because to run things many still depend upon the traditional
sources of energy. But installing Solar Panels/Windows will exempt them to some extent from
paying for electricity and instead utilizing that money for the enhancement of the business.

D ifferentiation and Positioning:

Now more and more companies, schools, and businesses and workplaces are shifting from traditional
energy (fossil fuels) to solar power. Everyone has identified the problem with using the resources which are
limited, and which will be scarce soon. Not only that, but many traditional sources of energy are also
harming the planet so there is a need for an affordable alternative. The Interesting Company may just have
developed that something.

Many of us may know about Solar City’s Solar Roof. Which could be a building-integrated photovoltaic
(BIPV) that takes the usefulness of solar panels and integrates it into roof shingles. A domestic with Solar
City roof shingles introduced would have both a defensive and total roof and the capacity to produce sun-
oriented vitality, but without installing solar panels as well.

Many solar industry stakeholders recognize that solar must be rebranded as an aesthetic and specialized
change that may be a portion of a home renovation instead of a hefty module that is nailed onto your
rooftop. That assumption was emphasized in Elon Musk’s October 2016 dispatch of Solar City’s new
roofing product. The TLSC is composed of natural salts that are outlined to retain specific invisible UV and
infrared light wavelengths, which at that point gleam (luminesce) as another undetectable wavelength.
This new wavelength is at that point guide to the edge of the window plastic, which lean PV solar cell
strips change over it into electricity.

Now, we learned that the roofing solar panels can only be installed on the roofs of houses or selected
buildings, while Clear View Power’s transparent solar coating can be directly connected to building
windows at the time of the ordinary glass making preparation. Once the mass generation starts for
transparent solar boards, analysts assess that the TLSC ought to be able to convey the productivity of
approximately 10%. This may not show up to be an earth-shattering number, but on a national or
worldwide scale, when nearly every window in a home or office building comprises of clear solar panels.

The transparent solar panels can generate electricity from windows in offices, homes, car's sunroof, or
even smartphones. Blinds are another part of a building's window that can generate electricity. A
transparent solar panel is essentially a counterintuitive idea because solar cells must absorb sunlight
(photons) and convert them into power (electrons). When a solar glass is transparent, the sunlight will pass
through the medium and defeat the purpose of utilizing sunlight. However, this new solar panel
technology is changing the way solar cells absorb light. The cell selectively harnesses a portion of the solar
spectrum that is invisible to the naked eye, while allowing the normal visible light to pass through. To
achieve this technological wonder, the researchers have developed the transparent luminescent solar
concentrator (TLSC) rather than trying to do the impossible by creating a transparent photovoltaic glass
cell.

With that being said, we can assure the interested parties that The Interesting Company’s product is more
flexible and can be utilized in several electricity-based products. Combined with the roofing solar panels,
transparent solar panels have the potential to become complementary products. Lastly, our product will be
placed for both big buyers and small-scale buyers. The transparent solar panels will be set according to the
size of the customers interested in buying.

K ey Success Factors:

A transparent solar panel is essentially a counterintuitive idea because solar cells must absorb sunlight
(photons) and convert them into power (electrons). When a solar glass is transparent, the sunlight will pass
through the medium and defeat the purpose of utilizing sunlight.

Innovation Differentiation: To try not to need to contend simply on value, firms should offer an item that is
innovatively separated. While there are many distinctive highlights, the one number to beat is "proficiency"
as estimated in "$/kWp" followed intently by the module productivity estimated in "kWp/m² ". This is so
significant because a 1%-point proficiency increment in the cell brings about an extra energy yield of 6%.
Likewise, it cuts down necessities for territory and electrical segments.

Innovation Strategy: The advancements that are introduced today, may not be the innovations of
tomorrow. For example, with the sharp drop in polysilicon costs, a portion of the flimsy film advancements
at this point do not look as engaging as they did a year back. As a relief procedure, we would anticipate
that elective advances should be available in any organization's item portfolio.

Item Quality and Certification: The presence of module accreditation from free bodies, for example, TÜV is
not, at this point a distinctive component; it is indeed a semi permit to work.

Creation Capability: Creation can be scaled up to critical levels. For another advancement (for example
another slight film photovoltaic material), the ability to incline up creation rapidly is significant; something
else, the new item will not have any kind of effect.

Cost Structure: How well an organization can control costs is one of the main components, particularly in
an industry that sees a consistently developing number of new contestants. Silicon makers with admittance
to modest energy, for example, have a particular competitive advantage, as 85% of the energy expected to
construct a module, is utilized in delivering silicon. Other cost preferences come from economies of scale
and supply contracts at the low estimating level.

Vertical Integration: To have the option to catch more esteem and to relieve the characteristic dangers of
the store network, it is significant to either incorporate vertically or fabricate solid associations with others
in the worth chain.
Monetary Strength: While this is genuinely self-evident, a solid asset report is required not exclusively to
climate a decline, yet in addition to back development.

How/Why it may fail:

According to NREL, modules can fail because of unavoidable elements like thermal cycling, damp heat,
humidity freeze and UV exposure. Thermal cycling can cause solder bond failures and cracks in solar cells.
Damp heat has been associated with the delamination of encapsulants and corrosion of cells. Humidity
freezing can cause junction box adhesion to fail. UV exposure contributes to discoloration and back sheet
degradation. These things just happen, and it is difficult to determine how bad the degradation will be.

G oals and Objectives:

Sun based power has shown colossal potential as a high level, 'clean' wellspring of energy. No large shock
environmentalists worldwide have been looking for ways to deal with push the energy sun situated cell
development. By and by, scientists have progressed an imaginative arrangement for the improvement of a
high-power clear sun-based cell. This advancement conveys us closer to understanding our goal of a
sensible green future with off-the-lattice living.

Objectives: As we have well established by now that we wish to change the electricity market completely
these goals may sound dreamy. At the start, we must come up with the objectives we can fulfill. So, after
opening 4 branches around Canada we will begin the production of our product which is Transparent Solar
Panels.

Short-term Objectives:

· Opening more than 1 branch around Canada

· Selling about 50k units of the Transparent Solar Panel

· We also are expecting to grab a good market. About 100k customers for the first year.

Implementation Plan: Once our plan is implemented; we will execute the plans of advertising through the
mediums we stated above. Which involve: Direct Mailing, Internet, Social Media, Newspapers,
Telemarketing etc.

Budget: The Interesting Company’s financial budget stands at around $500k out of which 50% are
borrowed funds and the rest is the contribution of all our four partners. We expect to generate revenues of
$1 million in the first year which will not only cover our expenses, but which will also help our business
grow the way it needs.

0 Comments

Was this answer helpful? 1

0
Practice with similar questions

Marketing Plan Project - Evaluating a New Product Opportunity Objective In this project, you play the
role of a marketing manager/entrepreneur whose task is to study the market and the strategy for a new
product or service idea that your company is considering and develop a marketing plan. You must
choose a new product, or service idea that your group is interested in. Ideally, the...
See answer
 Marketing Plan Project - Evaluating a New Product Opportunity Objective In this project, you play the
role of a marketing manager/entrepreneur whose task is to study the market and the strategy for a new
product or service idea that your company is considering and develop a marketing plan. You must
choose a new product, or service idea that your group is interested in. Ideally, the...
See answer

Show more 

Questions viewed by other students

The final written assignment should not be more than 2500 words (excluding the executive summary).
In addition, you may attach up to 5 exhibits which present any supporting analysis that you have done.
The final report should contain the following: Executive Summary: This would be about 1/2 to 1 page in
length which succinctly summarizes your new product idea, your segmentation...
See answer

Marketing Plan Project - Evaluating a New Product Opportunity Objective In this project, you play the
role of a marketing manager/entrepreneur whose task is to study the market and the strategy for a new
product or service idea that your company is considering and develop a marketing plan. You must
choose a new product, or service idea that your group is interested in. Ideally, the...
See answer

Show more 

COMPANY

LEGAL & POLICIES

CHEGG PRODUCTS AND SERVICES

CHEGG NETWORK

CUSTOMER SERVICE

© 2003-2021 Chegg Inc. All rights reserved.