Market Plan for Sustainable Offering - Coursework Example

Market Plan for Sustainable Offering Student’s Name Code & Course Professor’s Name University City Date Background to sustainable offering The contribution of a company towards sustainable environment and health to customers is seen in the products being produced. The products that are environmental friendly to the customers enable them to provide utilize the products and services being offered by the company. In today’s change and improvement in technology has seen a rise in the use of Smartphone which has aided communication across the board. Smartphone’s are chosen in this paper as they are widely used by many people especially in business related activities. Just like any other product, the smart phone faces environmental related problems; the product has to be disposed after a given period of time after use or existence of a new model in the market. The use of smart phones though is not all safe as the product emits harmful radioactive products which may affect the health of the users if not well addressed and proper measures put in place. It is estimated that about 1.7 billion smart phones are used annually and this phones are rarely recycled after use. This thus poses a grave danger considering the emissions by these phones which may largely lead to health related problems. The study has it that people who are physically affected by the loose of their phones may be diagnosed by a side effect which relates to the fear of not having the phone, this is one of the problem of the phones (Jenkins & Williamson 2015). According to the group assignment, the sustainable offering to this problem is where the Google has come up with a way of being able to sell a phone in different parts rather than selling it as whole. The same project is being invested in by other bigger companies which are considering the same move important such as Samsung and LG. According to the companies, this concept is considered to being less costly and the outdated phones may be recycled in the process to come with the new model. In addition, these companies have come up with another better way of charging the phones through the solar energy. Solar energy is a green energy and therefore it is harmless to the environment unlike other forms of energy like the electricity. The paper thus addresses the current real issues in the technology trend which can be solved by sustainable offering in place. Environmental analysis The environment of a company is considered to be both external and internal and they both dictate on the performance of the company’s product. For the Smartphone’s, various factors both internal and external affect them both negative and positive. Any organization may be affected either directly or indirectly by the external or internal factors. Internal factors are those that the company management may be affected by them from inside, such factors may be easily controlled by the company (Armstrong et al., 2014). External factors on the other hand are beyond the company’s control; they are from outside the company’s management and may not be well controlled by the company management. To produce the most sustainable product that benefits the customers, the company should be a position to understand the existing external environment. One of the major external factors is the political environment, this looks at largely the laws of the land (Solomon 2014). Every country has its rules and regulations concerning the production of certain products, the company should thus work within the limits set by the authorities. Also the consideration of human health through production of favourable products should put into consideration before producing. There is also the need to look at the economic and social factors. The two largely explains the need to look at the customers and understand their economic status and their level of needs. It provides an avenue for the company to produce products which are economically favourable to the customers and how the products are in line with the social life of the customers. The smart phones to be produced should thus look at these external factors to be able to fulfil its obligation of being a sustainable product to customers. Internal factors may be assessed by the continuity of the production of the product. Market and customer analysis To meet the customer’s needs which are the reasons for existence of every business, there is need for the business to identify its customers. This is the most important concept in planning for the business in both the long and short term period (Grant 2016). In analysing the customers, the business basically deals with identifying its customers through the needs presented across; it is mostly done through segmentation of the market to identify the potential customer for the product. For the smart phone, the market plan deals with identifying the health concerns and being in a position to solve them to suit the available customers in the market. In market and customer analysis, the first step is to identify the customers, identify the needs, and link the customer’s needs with the products or services being offered. Identification of the customers involves specifying who the customers want and targeting them. The business needs to specifically narrow down the customers’ needs and narrow them down depending on the products being offered. For the issue of the smart phones, the largest customers are the youth who are the perennial users of the gadgets. It is important to produce in mind of the targeted group in the market. This group of youth have a habit of spending more time on their phones and thus the need for phones which are more environmental friendly. The design by Samsung and LG on phones which use solar energy on charging is suitable to this line of customers as it is affordable and less expensive compared to other forms of energy. Financial objectives The major mission of the organization is to produce smart phones which are environmental friendly and at the same time cheap for the customers. Through this, the company looks at increasing its customer’s base which in turn will increase its financial output (McQuarrie 2014). The use of smart phone with new technology has increased the ability to reduce e-poisoning which is currently associated to the overuse of smart phones. The new technology also tends to reduce the need to continuously renew the old phones which is expensive and time consuming. The financial objective of the company is thus to increase its customer base targeting the youths and at the same time limit the side effects of the smart phones. At the end of the five years of operation, the company should be able to have achieved increase in the number of customers and also reduction in negative side effects of the smart phones. Marketing objectives For the company, its marketing objectives are always considered by looking at the general objective of the company. The objectives should be SMART that is stating where the business want to be and providing objectives that can be measured, monitored and evaluated and the plans put in place to evaluate the entire goals of the company (Solomon 2014). The marketing objective for the sustainable offering is to increase awareness of the technologically improved smart phone produced in the market by 30% in 3 year period, to increase the target market for the smart phones by a similar percentage in 3 years time and lastly increase safety of smart phones produced in the market by different dealers such as Samsung and LG. Other stakeholders Stakeholders for a company consist of many players such as the customers, investors, the community and also the government. The sustainable offering aims at improving the environment through production of safe products which does not emit harmful waste. This reduces side effects by such smart phones to the customers and even to the general community who comes across the phones. Renewable of the phones reduces careless damping of the waste which might be harmful to other people’s health. The project largely looks at improving the health conditions by reducing the side effects of the smart phones to the general public. Target market In business, it is necessary to identify the people who are interested in a certain product of interest. Identification involves looking at the customer’s needs and grouping them accordingly through the market segmentation. The segmented group leads to what is called the target market as it is followed by the company due to their interest in the product (Kotler et al., 2015). For the sustainable offering, the target market is the young people who are the frequent users of the smart phones. According to statistics, about 6.1 billion people will be using the smart phones by 2020. This is the largest market for the product and thus the need to have a phone that is free of major side effects. The youth act as the target market as they are so much linked to the social media and will thus need the smart phones compared to the old people. Marketing strategy The sustainable offering aims at improving the lives of the customers by reducing the side effects associated to the use of smart phones. The product thus will be important to the customers due to its ability of being cheap and more users friendly (Babin & Zikmund 2015). For our product, there are three components that outline its marketing strategy that is; positioning of the product, product strategies and additional product strategy. Positioning For the product to succeed, market positioning is a very important component that must be addressed. Position for sustainable product will ensure the customers maintain a strong and positive view about the product. For the Smartphone, it’s positioning lies in the customer needs where the targeted customers are the young working class people. The product differentiates itself by looking at what the competitors are offering, this is through healthy product provision to the customers. Product strategies The product being offered targets a larger percentage of the population. Smartphone have been integrated in the market due to the digital error. For this, our product offering does not only focus on provision of Smartphone but ones which are safe for use by the customers. The packaging for the product should be in way that does not affect its physical appearance to the customers. To identify the market for the product, it is important to use both the customer needs and the business to business research. Addition product strategies To capture and maintain a steady market, the product needs good marketers. The aim for our product thus is to equip the employees with proper marketing skills to understand the customers in order to serve them better. Motivation is also key to better services, the service providers should thus be well paid and motivated by the management to continue positively working for the success of the product in the market. References Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia. Jenkins, W. and Williamson, D., 2015. Strategic management and business analysis. Routledge. Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons. McQuarrie, E.F., 2014. Customer visits: Building a better market focus. Routledge. Solomon, M.R., 2014. Consumer behavior: Buying, having, and being. Engelwood Cliffs, NJ: prentice Hall. Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2015.Marketing. Pearson Higher Education AU. Babin, B.J. and Zikmund, W.G., 2015. Essentials of marketing research. Nelson Education. Read More