Description of the Product
The product is known as the green outlets and is a solar powered channel. It involves the installation of solar panel in the United States which focuses mostly on the remote areas that have low electricity connection. The solar panels will be installed in the public spaces and especially in those cities that are sunny and thus will enable people to enjoy throughout lighting.
How the Product Creates Value?
The product creates value since it will help in the conservation of energy. It is because the use of natural gas, coal, and petroleum will be reduced. Moreover, it will lead to economic growth since it will solve blackout issues experienced in the United States and thus there will be more productivity in industries and businesses. Also, it is very cost efficient and thus will reduce the expenses of using other sources of energy such as electricity.
Explain your Branding Strategies
My branding strategy includes introducing the solar powered panels to private users such as homeowners who want the comfort of power. Moreover, I want to add the solar panels to public places where people go to relax while using their phones and computers. Another strategy would be to add the green outlets to the remote areas where there is less connection of electricity.
Explain Functions of the Package and Label
A name will describe the product and gives information about the product. A package or a label will also assist in the promotion of the product. If it has an attractive label, it will appeal to many customers. also, labeling will enable customers to identify the brand.
Type of Channel Structure to be used
The kind of channel to be used is the communication channel. It presents information to the target market. The communication channel will contain effective and advertisements of the company. An example of a communication channel to be used is internet advertising.
Key factors affecting Channel Choice
One of the main factors influencing the channel choice is the nature of the technical environment. The dynamic character of the professional environment has eased the way of communication. The communication has enabled people to keep in touch with their loved ones and colleagues.
Level of Distribution Intensity
The standard of distribution channel that I will use is the intensive distribution. The products will be provided to as many stores as possible to maximize the sales and achieve economies of scale.
Pricing will depend on the geographical location. In the remote areas, the product May be sold at lower prices than the developed areas. Moreover, those people that have low income may buy the goods at lower prices than those with a higher income.
Discuss how Competition Impacts your Pricing Strategy and the Consumers Price Sensitivity
Competition affects my pricing strategy since the products will be sold at lower priceS than the competitors so as to appeal to customers.
Price of the Product and what pricing Approach (bases) are you using
The price of the product depends on the cost of production since the materials and research are expensive to produce that can drive the increased price for the consumers. Moreover, the price can be set lower than those of the competitors so as to gain a competitive advantage.
The target audience will involve business people who need to be connected with other people. They need their computers and phones to stay connected to their jobs. Moreover, their phones and computers need to be charged throughout, and through solar powered panels, they will not have to go low on batteries since there will be no blackouts. Other target audiences are young people who are always on their phones, computers, and televisions. Also, the green outlets will target individuals who love to spend more time outdoors with their family members and need to stay connected in case of emergencies.
Most people need to stay connected to communicate either with their colleagues at work, in the event of emergencies and even with their loved ones. It cannot be possible in case of blackouts, and the phones have gone flat of the battery. Moreover, those people in the remote areas where there is no connection of electricity will not be able to communicate. Through the green outlets, people will keep in touch, and through communication, there will be fewer problems. For example, in the case of an emergency, an individual can call an ambulance or the police.
Unique Selling Proposition or Advertising Theme used in Promotional Material
Green Outlets Co. embodies cost-effective powers sources that are custom made to provide energy requirements for all ages. We do this through the harnessing of solar energy and establishment in convenient locations to provide green energy to minimize dependency on non-renewable sources.
Type(s) of Appeal you think would be most effective
The kind of appeal to be used is logos. Logos are more convincing ways to advertise because they are more comprehensible to the audience.
What will Specific Media Vehicles be used?
The media vehicle to be used is internet advertising. It is because it is cheap and it will reach a large number of audiences. The information about the product will be available to the target groups which are the young people and businessmen and women who are frequent users of the internet.
Select one Additional Promotional Tool and provide a Rationale for why this tool
Sales promotion would better tool for development since it will attract more buyers. These can be done selling the goods at a discounted price or providing free products when a customer buys the goods. For example, if a consumer buys a solar panel, the company may install it for him or her for free.
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