areas in India are considered poor; however, “On the map of poverty in India, the poorest areas are in parts of Rajasthan, Madhya Pradesh, Uttar Pradesh, Bihar, Jharkhand, Odisha, Chhattisgarh and West Bengal”. As a company, we will try to centralized our mainly distribution to the poorest areas.
According to The times of India (2012), “Just over half of rural India uses electricity as its main source of lighting, an increase of 12% over 2001” it also shows that “43% of rural households still use kerosene to light their houses”. However, in India there are still “11 lakh (1,100,000) households in India with no source of lighting whatsoever”.
Impact statement: Our target market will be mainly poor population in India, which can be verified …show more content…
In this, company is going for internal as well as external analysis. Relevance of the product and differentiation of the product will be two broad parameters on the basis of which positioning will be done. (Tauber-Solar)
Market share:
Company's market: Initially planned market share is 20%. Presently company is doing assessment of India's market for its business. In UAE, company's market share is quite good. Around 100000 solar lamps should be sold in the target areas their goal. Increase the revenue of the company by 5% on yearly basis
Company initially aims to grab 10% market share in India. India is having 1259.7 millions of population and thus consumption of electricity is increasing on yearly basis. In household electricity consumption, India ranked sixteenth. Rural sector is the backbone of Indian economy; out of the total population, around 60% of the population is comprised of rural sector. …show more content…
Discount will be given on bulk buying. Free LED will be given in case customer purchases more than 50 solar lamps.
Promotional strategies: Advertisement on newspaper, radios and website publications can be used for further promotion. Cost effective equipment will be used for production of the product. (Types of Marketing Strategies) Creativity: we will be using designers that will be able to design the importance of our product and how to use it as our advertisement so people who cannot read can know about our product.
Brand positioning Strategy: Brand positioning will be next market strategy in which opportunities and threats of the external and internal environment will be assessed. Opportunities will be used to prosper the business ahead whereas measure will be taken to avoid or mitigate threat. Creativity: we will give our brand a personality that speaks to the target market and distinguish itself from the other brands. Our target market will be able to connect with it more than the other brands.
Action plan (Noora Al Hameli)
Action plan for market