The paper "Marketing Strategy and the Business Model for a Product" is a worthy example of a case study on marketing. The identification of a lucrative market in the power backup solutions market in the UK has prompted the need to come up with a product to take advantage of the market opportunity and thus gain from the rising demand for UPS. This report consists of a marketing strategy and business model to be used for the newly designed Product X that is set to enter the market in the coming year.
As a rule of thumb, the need to study the market first before introducing a new product into the market was given adequate consideration and it was established that there is a growing demand for UPS in the UK as the number of computer users continues to rise and businesses continue to increase in the country. It is however notable that the level of competition is high because the major players have already established a niche in the market, capturing potential sales in the UK market and even beyond borders.
This calls for aggressive marketing strategies that will ensure that Product X effectively penetrates the market and achieves the desired market share. In this reference, this report details the main factors to consider during this process by designing a market strategy and business model that will be used by the manufacturers of Product X in enhancing the market share. Description of the Product Product X is a power backup solution in the form of UPS (Uninterruptible power supply) devices and generators for use by computer users and industrial companies in ensuring that power supply is not interrupted following a power outage.
Product X allows for remote management and control of equipment 24 hours a day, 7 days a week. The product is designed to reduce maintenance costs and manage energy costs while providing effective service to the client. Product X offers services to enhance fault management, service management, remote asset control, energy usage monitoring, and fuel management. When Product X is connected with the targeted device, it is in a position to monitor it, even remotely to achieve the desired results or to give the specified indicators. How it works Product X comes in the form of a complete UPS and generator monitoring system that is highly reliable.
It is compact sized such that the device can easily be connected to the units that need to be monitored or controlled and this makes it highly convenient for users. Once it is set up, Product X continuously communicates with the centralized servers through the use of a GPRS modem that is inbuilt; such that communication is set to be ‘ always on’ . In this reference, an internal battery is fitted into X to ensure that communication to the server is continuous even when there is a disconnection of power.