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Write a marketing research on Solar Cars
The New Sustainable Market Offering
Non-renewable energy sources face depletion at a quicker pace and are expected to be entirely depleted in around 50 years (Balamurugan & Manoharan 2014). Hence, there is a need for exploring opportunities with the utilisation of renewable sources like sun and wind for power supply. Solar energy is gaining momentum through its application in different consumer goods. One such invention is the application and usage of a solar-powered vehicle that is expected to resolve environmental concerns arising from pollution and fuel usage. This report assesses the idea to market a solar car in the Australian market. A creative problem-solving approach is applied to determine whether the idea to market a solar-powered car is viable. Also, the product profile, its benefits, information gaps and marketing research required are also outlined.
Creative Problem Solving (CPS) – Solar Car
In order to gain a complete understanding of the potential sustainable product offering to be marketed, i.e., the solar-powered car in Australia, the Creative Problem Solving (CPS) approach is adopted through the five stages of problem identification, problem delineation, information gathering, idea generation and idea evaluation (Lamb et al. 2015).
Stage 1 – Problem Identification
To identify the problem, the unsatisfied customer requirements of current fuel-powered cars are determined. The main approach involved in this step is to list out the bugging element of cars currently marketed. Based on a brainstorming session, common themes are evolved, which are listed as follows.
It is observed that pollutants from the car, fuel consumption and higher fuel prices are major concerns. Out of these three, pollution is a major constraint considered by consumers during the purchase of cars and their preference towards pollution-free green vehicles.