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Assessment 2 – Concept development for sustainable offering & Situation analysis: Collaboratively develop a sustainable offering and corresponding situation analysis.
Assessment 3 – Marketing plan for sustainable offering: Individually complete the marketing plan for the chosen sustainable market offering
With the increased rate of depletion of non-renewable energy sources, companies are exploring different opportunities to utilize renewable source. The use of biomass as an alternate fuel source is expected to reduce environmental threats especially green gas emissions. It is concluded based on Creative Problem Solving (CPS) that BioVehicle is the better solution to resolve the pollution issues in Australian transportation. The current situation analysis reveals that there is ample opportunity for BioVehicle in Australia due to the growing need for pollutant free environment, customer preference towards eco-friendly durable products and the growing demand for biofuel.
The financial objective is to achieve return-on-investment and break even in the next five years. The marketing objective is to organize nationwide campaigns to garner the attention of customers and achieve 80% customer satisfaction of the buyers. Towards the stakeholders, BioVehicle intends to show that people can easily achieve a sustainable lifestyle and educate them about the benefits of using sustainable products that are beneficial to the environment.
The main consumers are millennial, especially Gen Z who are experimenters and early adopters. BioVehicle would be positioned as a durable green product when compared to fossil-fuel based cars. The USP is its lesser expenditure on fuel due to the renewable source of fuel. The limitation would be customer perception about the mileage of alternate fuelled vehicles.
BioVehicle would be priced in status quo with its conventional competitors. The pricing would be focused on the light-car segment in Australia. It would be sold through company operated showroom where sales staff engages in a one-on-one pitch with potential customers. A wide range of marketing communication tools such as broadcast media, print media, bill boards and social media would be used to organize campaigns to attract potential customers. Each member is assigned a marketing activity with an estimated budget to carry out promotional events. A forecast and budget for the next five years are drawn up to ensure that the performance is measured and sufficient funds available for the day-to-day operations. Sufficient controls will be placed to monitor the financial, marketing and environmental metrics to ensure that the objectives are in line with the performance.