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Emerging Strategies Green Marketing India

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Question:

Discuss About The Emerging Strategies Green Marketing India?

 

Answer:

Introduction

The purpose of this report is to analyze how a sporty SUV car that is powered by only electricity would be appropriate for this market in today’s world. It is seen that in these days the vehicles that run by electricity has a good market due to various reasons. It is seen that the continuous extraction of natural resources of earth will leave humankind with nothing within a couple of decades and for that, it is very important to commercialize the electrically powered vehicles in a rapid manner for the benefit of all. In this report, an appropriate marketing plan for this kind of a car is provided and the advantages and disadvantages of launching this type of vehicles are mentioned in this report.

As it is seen in today’s market the decreasing natural resources has becoming a serious issue day by day, man’s tendency to depend on the electrically charged vehicles is seen as a current trend. It is seen that manufacturing vehicles run by the power of electricity is a very inexpensive process and it is due to the increase in both gas prices and ecological awareness, pure electric cars have become increasingly popular throughout the United States. In today’s market, it is not common to see hybrids and electric cars on the road. With the Model S, the company is the one of the first companies to market a fully electric luxury sedan (Tyagi, 2013). According to the U.S. Census Bureau, the per capita income of the average American citizen has slowly risen in the past four years from $28,374 to $28,829, creating a seemingly favourable market for luxury items like the Model S. In addition, government subsidies on electric vehicles have allowed the organization to retain more of their profits as they continue selling cars. However, in places like Texas, the company has been met with challenges hindering their sales and performance. New legislation has been able to stop Tesla from legally selling as well as advertise. Overall, the government subsides, rising environmental awareness, and increases in income provides this particular organization an external environment that will have a positive effect on its market (Driscoll et al., 2013).

in spite of the positive external market, this company’s Model S is in unswerving competition with other luxury sedans from cars such as the Mercedes Benz S Class, the Audi R8, and the BMW 7 Series. Mercedes was initially founded in 1901, followed by Audi in the year of 1904, and then BMW joined in 1927 (Al-Alawi & Bradley, 2013). In contrast, the company was founded back in 2003, making it the trainee while Mercedes, Audi and BMW are veterans of the automobile market. However, as the market is highly specific, the rivalry is reserved. Due to the depleting petroleum supply and rising prices, the electric car market is becoming very attractive and expanding very fast. With an increasingly striking alternative Automobile engineering, the threat of new entrants into the electric car industry is very high. Established car manufacturers are able to produce high capital investments and avoid the financial obstacles by creating electric vehicles. For making, car-manufacturing companies are highly dependent on the accessibility of raw materials; thus, the power of the suppliers is high. In contrast, the bargaining power of buyers is modest. The organization is responsible for supplying manufactured cars for companies like Nexa and Toyota, who have strong bargaining power. However, government incentives will give potential customers tax credit deductions if they become the owner of an electric vehicle that create a high demand and keeps the buyer’s bargaining power lower (Erjavec, 2012).

 

Marketing Objective:

The marketing campaign constitutes of three marketing objectives. These are:

  1. Positioning of the model at a specific sedan market
  2. Raising awareness and educating the customers pertaining to the usage of e-vehicles to ensure sustainability in the usage of cars
  3. The ensure a significant portion of the buyers in the market

Financial Objective:

Following is the financial objective for the discussed marketing plan:

  1. Revenue Growth
  2. Ensuring and Extending Profit Margin
  3. Sustainable Business Practices
  4. Creating a solid plinth for return on investment

SWOT analysis

Strength

The car is fuelled by only the power of electricity, it will be generally accepted to many people who are aware of the over use of natural resources.

The best part of this particular car is that though this is fuelled by electrical energy, there is no lag seen in the performance of the car, like any other contemporary electric cars in the market of automobile market

Weaknesses

There are several issues regarding the competitive factors. It is a matter of fact that there are some contemporary organizations with high brand value in automobile industry and thus they can pose some serious issues later on. Some veteran organizations sell advanced automobiles than other vehicle companies.

Opportunities

It is seen how awareness regarding over usage of natural resources are rising these days, thus, it can be said that, this is might be the right time for the organization to showcase their new innovative unique ideas to the world and step forward and become a reputed organization in automobile industry.

Threat

Many business leaders, if notice that this particular organization is doing good business, can step forward and try to venture in this market, and in that case, as a newcomer in the market, with lesser capital or reputation the organization can lag behind. This can become a major threat in no time and the management of this company has to consider this threat in every step in future.

Threat of new entrants

Looking at the lucrative business it is possible that many business leaders can come up with uniquely engineered vehicles that can run without natural resources. If any organization comes up who has the capability to bankroll such a huge project then they can pose some real threat for the organization (Erjavec, 2012).

 

Bargaining power of the suppliers

The car manufacturing business is immensely dependent on the supplies they get from the market. It is possible that looking at their profitability the market suppliers can demand for better prices and this can possess a moderate threat for the organization (Dill & Rose, 2012).

Bargaining power of the buyers

It is possible that buyers can ask for some reduced price for the vehicles they are buying, but looking at the popularity of the vehicle, it can be seen that this cannot be a potential threat for the company.

Threat of substitute

It is possible that some big reputed organizations can try to venture in this new business and this can be seen as a major threat for the organization (Erjavec, 2012).

It is a matter of fact that in today’s market, the company has many rival high profile companies in the market who are into car manufacturing business and they are Mercedes, Hyundai, B.M.W, Ferrari, Honda and many more. Looking at the lucrative business strategy if these companies steps in, that can be a huge problem for the organization, as they do not have the brand value that these organizations already have in the market (Cherubini, Iasevoli & Michelini, 2015).

Mission

The main mission of the management of the organization is to secure the natural resources of the mother nature for the benefit of all and apart from that they intend to contribute majorly in lowering the excess carbon particles from the biosphere so that individuals can at least breathe in peace (Daziano & Chiew, 2012).

Marketing mix strategy:

Marketing mix is the plethora of the basic marketing structure and the strategies depended on the specific market structure. This has to be taken into certain consideration pertaining to the fact that this has to be taken into certain consideration. The organization takes a very appealing and perilous approach to marketing, as it take prides itself regarding having no promotional campaign (Daziano & Chiew, 2012). According to editor for Advertising Age, instead, the company depends on a pull advertising policy, choosing to rely on the media vehicles such as social media, many blog forums, and word of mouth in order to promote their products. The corporation goes as far as having Musk write in the organization’s blog on the company’s website to anticipate forthcoming products and technologies to look forward to (Ou et al., 2017). Marketing mix, according to Jerome McCarthy, has four different categires. These for categories are segmented as the followings:

  1. Product
  2. Price
  3. Promotion

Together they are called the 4-Ps. It is highly significant for the purpose of driving the marketing strategy into proper execution.

 

Product:

The product is a tangible one. In this context, the model propelled by Philip Kotler pertaining to the five product levels has been taken into consideration. According to Kotler, there are five levels of a product that is approached to the customers. These are approached to them through product marketing tools.

This specific product is the tangible one. The core benefit of the product is that it would save the cost of petrol and focus on the sustainability of the environment. The generic product is the quality of engine, its luxurious looks and trendy model. The expected product is going to be its strength on the road and the capacity of the engine that would guide it to become a quality product. The augmented product is the additional facilities that the customers would receive both as drivers and as the back sit passengers or the riders. The quality is the cosiness and elixir inside the cars. As a potential product this would focus on its newer version of heavy engine facility with low chargeable battery (Al-Alawi & Bradley, 2013).

Price:

With premium pricing strategy, the company is going to focus on the overall market capture. Depending on the targeted customers, the price of the product has been set. The strategy involves the usage of higher price point. The customers would pay relatively higher price keeping in account the positive structural criteria of the cars. However, for the promotional purpose the first line customers would be offered a discount of $2500 at minimal level.  The price range is going to be set at around AUD $ 40,000.

Place:

For the advertisement and marketing, both real and virtual places are going to be contemplated. For the advertisement of the car launch, places like rugby and football stadium would be targeted.

Promotion:

The promotional activity for the car is going to be specified with certain innovation. The promotional activity would be performed through social media and search engine optimization tools (Al-Alawi & Bradley, 2013). It involves page and group creation in Facebook and LinkedIn and promotional video presentation in YouTube. In this regard, integrated marketing process would be strategized. The concern updates its social media promotions each month to let the target market know those any and all new changes and all the improvements to look forward to. For this reason, the organization does not errand promoting in any specific season, but rather promotes whenever there are any new products that can bring in a greater customer base. The most interesting selling point the company bases its intention on is presenting a zero emission SUV sports car. There are contemporary other manufacturers who offer electric fuelled vehicles; but, they carry a negative disgrace of weakness and under-performance (Tyagi, 2013). They are the pioneer company to create a high performance car through new and revolutionary electric fuel technology. The best way to view at this company’s vehicle is through its creative webpage, which allows addressees to learn about the various aspects and technologies through interactive explanation (Al-Alawi & Bradley, 2013). The company does not pay for a conventional advertising strategy; they excel in creating a consumer buzz and producing very eye-catching results with their electric vehicle products.

Implementation plan

Strategic promotional tools

Strategic promotional options

Facebook

Creation of business page and timeline sharing ( social media optimization)

YouTube

Video streaming and paid advertisements and I.M.C

Twitter

Brand endorsement by celebrities

LinkedIn

Business promotion and paid advertisements

Google ads

S.E.O

Print media and television

Paid advertisements

Action plan

Action Plan

Time

Rigorous marketing through social media sites and other digital media sites

2 to 3 months

Creating sense of brand awareness within the market

4 to 6 months

Increasing the product awareness

6 to 9 months

Creating  sustainable growth plan

12 to 15 months

Focus on getting the highest revenue.

15 months onwards

 

Conclusion

Thus to conclude, it can be said that manufacturing a SUV car that will run by the energy of electricity is a groundbreaking innovation and no other contemporary organizations have made such a vehicle with no engine lag or with so much of power. The car the organization made is very powerful and very sporty and that throws the initial challenge to the rival organizations already present in the market, although they are very loosely into the electric car business. Thus, it can be said that, the organization has a very bright future in automobile industry and if everything goes right then they can probably become huge brand in no time

 

References

Al-Alawi, B. M., & Bradley, T. H. (2013). Review of hybrid, plug-in hybrid, and electric vehicle market modeling studies. Renewable and Sustainable Energy Reviews, 21, 190-203.

Cherubini, S., Iasevoli, G., & Michelini, L. (2015). Product-service systems in the electric car industry: critical success factors in marketing. Journal of Cleaner Production, 97, 40-49.

Daziano, R. A. (2013). Conditional-logit Bayes estimators for consumer valuation of electric vehicle driving range. Resource and Energy Economics, 35(3), 429-450.

Daziano, R. A., & Chiew, E. (2012). Electric vehicles rising from the dead: data needs for forecasting consumer response toward sustainable energy sources in personal transportation. Energy Policy, 51, 876-894.

Dill, J., & Rose, G. (2012). Electric bikes and transportation policy: Insights from early adopters. Transportation Research Record: Journal of the Transportation Research Board, (2314), 1-6.

Driscoll, A., Lyons, S., Mariuzzo, F., & Tol, R. S. (2013). Simulating demand for electric vehicles using revealed preference data. Energy policy, 62, 686-696.

Dumortier, J., Siddiki, S., Carley, S., Cisney, J., Krause, R. M., Lane, B. W., ... & Graham, J. D. (2015). Effects of providing total cost of ownership information on consumers’ intent to purchase a hybrid or plug-in electric vehicle. Transportation Research Part A: Policy and Practice, 72, 71-86.

Erjavec, J. (2012). Hybrid, electric, and fuel-cell vehicles. Cengage Learning.

Frieske, B., Kloetzke, M., & Mauser, F. (2013, November). Trends in vehicle concept and key technology development for hybrid and battery electric vehicles. In Electric Vehicle Symposium and Exhibition (EVS27), 2013 World (pp. 1-12). IEEE.

Hutchinson, T., Burgess, S., & Herrmann, G. (2014). Current hybrid-electric powertrain architectures: Applying empirical design data to life cycle assessment and whole-life cost analysis. Applied Energy, 119, 314-329.

Iushkina, D. (2016). Škoda's Marketing Strategy of Penetration the Czech Market with Electric Cars.

Jamal, Z. B. (2014, October). Cross-cultural impact on marketing strategies: A study on automobile industry. In International Conference on Business, Law and Corporate Social Responsibility.

Ou, S., Lin, Z., Wu, Z., Zheng, J., Lyu, R., Przesmitzki, S. V., & He, X. (2017). A Study of China s Explosive Growth in the Plug-in Electric Vehicle Market (No. ORNL/TM-2016/750). Oak Ridge National Laboratory (ORNL), Oak Ridge, TN (United States). National Transportation Research Center (NTRC).

Park, J., Rast, J., MacDoughall, T., Nitti, B., Sinton, D., Geissler, A., & Roseli, K. L. (2014). Marketing Plan for Tesla Motors’ Model S.

Sierzchula, W., Bakker, S., Maat, K., & Van Wee, B. (2012). The competitive environment of electric vehicles: An analysis of prototype and production models. Environmental Innovation and Societal Transitions, 2, 49-65.

Tyagi, H. (2013). Emerging Strategies of Green Marketing in India. Bookman International Journal of Accounts, Economics & Business Management, 2(2), 45-50.

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