Power bank portable charger target

Strategic Marketing Plan

3) Use "Strategic Marketing Group Assignment" Word doc to do point number 3 Market Analysis, Overall Market, Target Market Segmentation, Size & Growth Rate & Unmet Needs of Target Market(include those highlighted) ( Those under the name Evon only)

4) Refer to "BUS350 - TMA 2019 UILG" printed Page 12 - 14 on the guide read carefully what is required

5) Refer to the slides read carefully as well especially Slide 9 & 10 those word in red is a must to have

6) Follow the marking guide in "BUS350 - TMA 2019 UILG" and the slides

7) Have clear referencing and clear in-text citation(not in number kind)

8) There is a sample group assignment for you to reference

9) Take note of the language use

10) Urkund Score cannot exceed 10%

The SunBox Marketing Plan

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Contents 1.0 EXECUTIVE SUMMARY ............................................................................................................... 1

2.0 COMPANY PROFILE .................................................................................................................... 1

2.1 MISSION ...................................................................................................................................... 2

2.2 POSITIONING STATEMENT ................................................................................................... 2

3.0 MARKET ANALYSIS ..................................................................................................................... 2

3.1 TARGET MARKET SEGMENTATION ................................................................................... 2

3.2 SIZE AND POTENTIAL OF TARGET MARKET .................................................................. 2

3.3 S.W.O.T. ANALYSIS ................................................................................................................. 3

3.3.1 STRENGTHS ...................................................................................................................... 3

3.3.2 WEAKNESSES ................................................................................................................... 3

3.3.3 OPPORTUNITIES .............................................................................................................. 3

3.3.4 THREATS ............................................................................................................................ 3

3.4 PESTEL ANALYSIS .................................................................................................................. 4

3.4.1 POLITICAL/LEGAL ........................................................................................................... 4

3.4.2 ECONOMIC ......................................................................................................................... 4

3.4.3 SOCIAL ................................................................................................................................ 4

3.4.4 TECHNOLOGY ................................................................................................................... 4

3.4.5 ENVIRONMENT.................................................................................................................. 5

3.5 INTERNAL ANALYSIS.............................................................................................................. 5

3.5.1 PROCUREMENT ................................................................................................................ 5

3.5.2 TECHNOLOGY DEVELOPMENT ................................................................................... 5

3.5.3 MARKETING AND SALES ............................................................................................... 5

3.5.4 SERVICE ............................................................................................................................. 6

4.0 COMPETITOR ASSESSMENT .................................................................................................... 6

4.1 INDUSTRY BUSINESS DECRIPTION ................................................................................... 6

4.2 PORTER’S FIVE FORCES ANALYSIS .................................................................................. 6

4.2.1 THREAT FROM NEW ENTRANTS ................................................................................. 6

4.2.2 BARGAINING POWER OF CUSTOMERS (BUYERS)................................................ 7

4.2.3 BARGAINING POWER OF SUPPLIERS ....................................................................... 7

4.2.4 THREAT OF SUBSTITUTE .............................................................................................. 7

4.2.5 INTENSITY OF RIVARLY ................................................................................................. 7

4.3 CRITICAL SUCCESS FACTORS ............................................................................................ 7

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4.4 CURRENT MARKET CONDITIONS ....................................................................................... 8

5.0 MARKETING STRATEGY ............................................................................................................ 8

5.1 MARKETING OBJECTIVES .................................................................................................... 8

5.2 OVERALL MARKETING STRATGEY .................................................................................... 8

5.2.1 PRODUCT DECISIONS .................................................................................................... 8

5.2.2 PRICING DECISIONS ....................................................................................................... 9

5.2.3 DISTRIBUTION DECISIONS ............................................................................................ 9

5.2.4 PROMOTIONAL STRATEGIES .................................................................................... 10

6.0 FORECAST AND BUDGET ....................................................................................................... 11

7.0 IMPLEMENTATION AND CONTROL PLANS ........................................................................ 11

7.1 ACTION PLAN .......................................................................................................................... 11

7.2 CONTROL PLANS ................................................................................................................... 12

7.2.1 MEASURING PERFORMANCE .................................................................................... 12

7.2.2 ORGANIZATION CONTROL ......................................................................................... 12

8.0 CONTINGENCY PLAN................................................................................................................ 12

9.0 CONCLUSION .............................................................................................................................. 12

10.0 APPENDIX..................................................................................................................................... 14

11.0 BIBLIOGRAPHY .......................................................................................................................... 27



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1.0 EXECUTIVE SUMMARY The SunBox would be the very first wireless solar power bank launched in Singapore. Solaris Technologies have collaborated with GP batteries and Trina Solar, creating an eco-friendly and user friendly power bank for the growing mobile industry. The SunBox would feature wireless charging and the convenience of solar charging outdoors. With the improved and advanced engineering from GP batteries and Trina Solar, SunBox is able to store energy and be solar charged more efficiently than others available in the market. With an ever growing population in Singapore, increasing number of the market are using smartphones and tablets, creating the perfect market for the SunBox to be launched.

The SunBox provides many perks for users, the greatest of all would be its convenience and cable free charging, eliminating any cable knots and mess created. Additionally, the solar energy industry has just received S$12M of funding in future developments, favouring Solaris Technologies in its future endeavours.

Being the pioneer in providing consumers with portable solar charging devices allow Solaris Technologies to set benchmarks and carved out greater market share in this populated country. Furthermore, Solaris Technologies would also be able to reach to the ASEAN region with Singapore being the hub. It will be able to reach and connect to neighbouring countries such as Malaysia, Indonesia, Thailand and the Philippines as a pioneer in the portable solar charging devices industry.

The great demand of smartphone set by Apple and Samsung has created a world market. However, battery efficiency and life still poses a constant problem for users. Therefore, the SunBox would be marketed in the following briefed campaign strategy to address this issue. 

Through the use of research and market analyses done, we are able to determine factors and strategies that would allow us to achieve 10% market dominance within the first year of launch. The market share dominance would than grow and increase as we establish a strong user base. 

The SunBox is also aesthetically built and designed to be of highest quality and sturdiness. The design favours people of all walks through the use of clean lines and simplicity, appealing to the market as a simple and modern looking clean technology that could be carried around easily.

Retailing at major outlets and shopping malls, the SunBox would be greatly exposed to the market. Advertising of the SunBox would be intensive and extensive to capture maximum exposure and awareness. 

2.0 COMPANY PROFILE Solaris Technologies is a technology company that is focused on providing real world resonant wireless solar power solutions to the mobile market. It will be classified under the manufacturing and retail business sector. It believes in the future of solar technology and we think it is paramount to enable this technology in a way that maximizes reliability, efficiency, value and convenience. It will co-partner with GP

Comment [JN1]: Writing in Third Person is required

Comment [JN2]: You have some “selling” in the report findings

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Batteries International Limited, to engage in the development, manufacture and marketing of wireless solar batteries and battery-related products.

2.1 MISSION Solaris Technologies is about innovation, suitability and trust integration. Exploring new technology innovation that aims to achieve convenience for end users. Trust is crucial on this new technology product and aims to be a widely accepted and commonly used in current society by 2015 and achieve more than 10% of the market share. Hence the brand value must portray trustworthiness, reliability and sincerity.

Our mission and vision is to serve and innovate high quality yet affordable wireless solar portable charger. Technical expertise and the continuous break though in innovative technologies will guide us in propelling Solaris Technologies products to be of highest quality and standards.

2.2 POSITIONING STATEMENT SunBox will be the first solar powered power bank in Singapore that provides users with effortless charging of their devices through wireless charging, it will also be the first to use solar energy to charge the power bank. SunBox would not require cables to charge the devices, it would be the first being offered into the Singapore market. Without the use of cables, it eliminates the need for cables and wires which easily create a mess inside the bags. Users would also not need to constantly remind themselves to bring the cables along with the power banks. Good

3.0 MARKET ANALYSIS

3.1 TARGET MARKET SEGMENTATION Solaris Technologies would need to target the right market segment in order to achieve maximum exposure and outreach and ultimately increase number of sales. As the target population is large we would need to segment it by demographic and psychographic segmentation in order to appropriately apply the marketing strategies and tools. Demographically, we are targeting mobile users of age 16 – 45, male and female, students to working adults. Psychographic segmentation, we are targeting users who are tech savvy, social media fanatics, heavy video streaming users, peer influential users who are constantly using their mobile phones and users who are always on the go with no charging point available. 

3.2 SIZE AND POTENTIAL OF TARGET MARKET The industry of external power is driven by the rise in demand for smartphones and tablets. In accordance to a statistics from the United States in Figure 3.2.1, Singapore is ranked 4th on the global stage in Smartphone penetration with almost 3 in 4 people in Singapore owns a smartphone (Richter 2013). Singapore has a population of 5.47 million in 2014 (Department of Statistics Singapore 2014). Taking 71.7% as shown in the data Figure 3.2.2, this represents 3.92 million of smartphone users in Singapore. Therefore, with smartphones becoming a necessity and a core to the mobile phone industry. A steady supply of battery power would greatly improve the mobile phone usage experience. 

Comment [JN3]: The SMART (specific, measurable, attainable, relevant and time- bound) objectives were not covered

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Low or empty battery is the daily concern of Singaporean smart phone users. 3G or 4G web content browsing contributes largely to the power usage. In the Asian context, over 80% of Asian mothers has gone digital and increase their internet usage. In Figure 3.2.3 depicts the usage of smartphone by mothers and their frequent social media accounts in terms of communicating with the world (Warsia 2014). With a growing population and ever improving technology, the market for external power sources and better battery capacity and performance would continue to grow in the future. Good, well covered

3.3 S.W.O.T. ANALYSIS

3.3.1 STRENGTHS The current USB power banks require consumers to use the cable to charge their smartphone and tablets. The cables are either coiled around the power bank or left as it is, creating a mess inside the bag. Users must also remember to bring the cables out with them which can be inconvenient at times. Our solar wireless charger would eliminate the need for cables and the mess it would create and the trouble for constantly remembering to bring it out. It can be left in the bag, pocket or hand carried without cables attached. Therefore, our solar wireless charger could bring greater convenience than the USB power banks. Furthermore, it is solar-powered, which is environmentally friendly, clean technology that is supported by the government. Being the pioneer of the solar wireless power bank product, gives us the competitive advantage of defining the standards of the industry and also an advantage in distribution.

3.3.2 WEAKNESSES Being a new start-up company and we are a small and medium enterprises (SMEs), we are faced with the challenges of having a good assortment of skilled workforce. We may also not be able to market to the mass audience within a short period of time. As the product is new in the market, it needs to educate the target market about the benefits of the solar wireless product and remove doubts about wireless charging. 

3.3.3 OPPORTUNITIES Since we are the only solar wireless charger in the Asian market, it would be of great opportunity to further expand our target market to other Asian countries other than just Singapore. It also brings us the opportunity to educate and change consumers’ attitudes on wireless charging and our green eco-friendly technology of solar charging. 

3.3.4 THREATS As technology can be easily replicated, this may prove as a threat for us. Just like other USB power banks that had been replicated since its first introduction into the market. New regulations to regulate foreign employment and new technology businesses may also impact us and affect the business operations both locally and overseas. 

Comment [JN4]: You have Identified the unmet needs of the target market

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3.4 PESTEL ANALYSIS

3.4.1 POLITICAL/LEGAL In 2013, Singapore was ranked second in the IMD World Competitiveness Yearbook as the least bureaucratic country in Asia (Singapore Economic Development Board 2014), making Singapore one of the most ideal places for business operations. On top of being least bureaucratic, “the Singapore government practices an open and transparent approach when it comes to all businesses matters, resulting in Singapore being ranked the most transparent country in Asia and top 3 in the world for least corruption in the economy” (Singapore Economic Development Board 2014). However, there are regulations that might be of a threat to businesses, especially towards small and medium enterprises (SMEs) . The government has recently introduced significant measures to moderate the inflow of foreign workers. The levy rates to employ a foreign worker on an S Pass or Work Permit have increased significantly as well as the minimum monthly salary for these categories of workers have also increased to $2,000 (National Population National Division 2013). This will pose a significant issue to us as a start-up company. However, the government also offers various schemes to help the SMEs i.e. tax rebates. 

3.4.2 ECONOMIC As Singapore’s economic growth is dependent on major external economic developments, any uncertainties in the major economics such as the Eurozone, the USA and Asia will greatly affect the economic growth of Singapore. Singapore’s economic growth is forecast to be at 2.5 - 3.5% for the year 2014 and inflation is expected to stay between 2% - 3% (Monetary Authority of Singapore 2014) as wages will start to increase due to regulations on tightening of the inflow of foreign workers and thus, the pressure will be passed on to the consumers. 

3.4.3 SOCIAL As technology improves and advances, increasing percentage of Singaporeans are using smartphones and tablets as means of communication. In an article published by the Straits Times, 78% of the people in Singapore owns at least one smartphone and these smartphone users are between the age of 16 – 60 years old (The Sunday Times 2013). With 78% of the local population using smartphones, our target market will be relatively large, both male and female ages between 16-60 years.

3.4.4 TECHNOLOGY Singapore has limited and constrained resources hence, it’s constantly looking into sustainable alternative and clean technology, with that, Singapore is committed to developing solar energy capabilities. The Economic Development Board (EDB) has awarded $12 million in grants for research projects on innovative and efficient ways to tap solar energy (Singh 2013). Trina Solar being one of world’s foremost photovoltaic (PV) companies established its Asia Pacific operating headquarters in Singapore is one of the many companies that benefitted from the grants offered in Singapore. Therefore a collaboration with Trina, would be beneficial and advantageous to us (Singapore Economic Development Board 2014)

Comment [JN5]: Possible funding from govt?

Comment [JN6]: How much time are spent on using Smartphones?

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3.4.5 ENVIRONMENT Singapore is strategically located in the Asian Sun Belt which receives about 50% more sunlight. This means that Singapore is an ideal place to launch our solar wireless charger. Besides being a “sunny” country, Singapore is ranked as one of the best investment location, making Singapore the most conducive environment for business in the world. Singapore being world class in its infrastructure, enhanced with specialized logistics capabilities, facilitates regional distribution. These enable companies ease and more efficient access to Asia’s untapped market (Singapore Economic Development Board 2014). This allows us to have an excellent means of distributing our products to the ASEAN region, other Asian countries and even to Australia and New Zealand with ease.

3.5 INTERNAL ANALYSIS

3.5.1 PROCUREMENT The quality of the product must be high to ensure consumers purchase, becoming a credible and trustworthy company. Therefore, we need to procure good quality photovoltaic (PV) cells to reduce the errors and faulty products that may be produced. Other than the photovoltaic (PV) cells, the other components must also be of standard and quality to ensure in the overall quality of the solar wireless charger. With lower errors and faulty productions, the cost of production would be lower as the need to reproduce is eliminated. Being a company that has lower errors and faulty products, would also be creating an image of credibility, trustworthy and a good quality brand image to the target market. This would also create good publicity for the company, as well as the product. With good word-of-mouth spread among the target market, the need for advertisement could easily be reduced. 

3.5.2 TECHNOLOGY DEVELOPMENT We would need to enhance our sales tracking and logistics management system to ensure that there are no times when the product is out of stock. Creating an excellent shopping experience for the target market. Being a technology company, we should also constantly upgrade and enhance the shopping experience in the retailing stores and also via the e-market platform. Other than just the benefits of the target market, we should also create a better work environment and simplify operations via technology for our staff. The solar wireless charger must also be constantly being upgraded and improved to cater target market’s demand i.e. higher charging power, faster charging etc.

3.5.3 MARKETING AND SALES The marketing and sales of the new product would be critical for us, being a new company. The marketing and sales team would need to determine the marketing channels, medium and the message to be sent to the target market. The message must be clear and concise and be integrated throughout the company. We would need to ensure that the marketing support is excellent and strong to support the sales team i.e. website to advertise the company and product, P.O.P materials at retailers etc. The relationships with vendors must also be well established to better position our product to the target market. 

Comment [JN7]: Well covered macro trends

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3.5.4 SERVICE The unique selling proposition of our product is convenience. We would still need to ensure excellent service provision to both our intermediaries and our end consumers. Building rapport and establishing good relationships with our intermediaries would assist our sales. Providing a unique buying experience for customers and good after sales service and benefits could attract more customers and widen our customer base. Having an excellent buying experience and a good quality product would also create good reviews and word-of-mouth, the intermediaries and end consumers would then in turn become one of our marketing sources.

4.0 COMPETITOR ASSESSMENT

4.1 INDUSTRY BUSINESS DECRIPTION The concepts and designs of chargers and rechargeable batteries have progressed tremendously overtime with portable electronics becoming a necessity in this era. Battery charging devices are a norm these days and can be found in almost all households; the idea that triggered this invention was to save money on batteries (up to hundreds of dollars per person on average), save time spent to purchase new ones and to be ‘green’ by reducing toxic waste.  The most common household battery is the lithium-Ion battery, which was introduced by Sony in 1991. The battery is available in all sizes and it is commonly found in digital cameras, laptops, mobile phones, and most portable electronics. However, there are also other classes of battery that were in the market in the last 25 years such as, nickel- metal hydride, zinc-air, and lithium polymer. Microelectronic battery charger controller technology has also been constantly improving at the same time to accommodate higher performance in smaller and safer designs which has aid in the commercialization of portable electronics. Engineers in the portable product, battery and battery charger industries are still continually innovating and developing which could result in an explosive growth and partnership across the industry. The best partnership to produce evolved high performance products would be team work between electrochemists (battery designers) and electrical and electronics specialists (battery charger designers) (Dern 2012).  The market for portable, battery-powered products have grown from simple products like flashlights and wristwatches to a diversified and flourishing market that includes communications, entertainment, and computing, photographic, military and medical equipment. This has in turn drove the growth of the power supply industry in terms of; the innovation of power management integrated circuits, fuel cell development, re- chargeable batteries, battery chargers and adapters. The demand for increased functionality could be an advantage and disadvantage for battery pack makers because with increased functionality, comes increased power needs (Brush 2004).

4.2 PORTER’S FIVE FORCES ANALYSIS

4.2.1 THREAT FROM NEW ENTRANTS Tech company pose a threat as technology can be copied easily when demand increases and supply is low. This is evident in the mobile phone industry,

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from the beginning of Nokia, Ericsson and to Apple iPhones, Samsung and now to China Xiaomi. Many of the original equipment manufacturers (OEM) for some of the popular brands of smartphones have started to produce their own brand of smartphones and the prices of their smartphones are very competitive as compared to those popular brands that are available in the market. Even though, producing the products locally may be costly but manufacturing does not need to occur locally therefore, factors such as costly manpower and land space may not be an issue for new entrants.

4.2.2 BARGAINING POWER OF CUSTOMERS (BUYERS) Bargaining power of customers are affected by the absence of substitutes as products are highly specialized and a high level of dependency on the suppliers resulting in an inelastic price of demand. There are only USB power banks are available in the market currently. Our company would be the first to launch the solar wireless. As the product is the only one of its kind in the market, there is no comparison that can be made. With that, bargaining power of buyer would be low as compared to the USB power banks available in the market that are competing against each other. 

4.2.3 BARGAINING POWER OF SUPPLIERS There are approximately 12 leading industry players in the solar industry which includes Trina Solar. With solar energy getting more publicity, more of such manufacturers will join the industry and photovoltaic cells would be cheaper to produce as supplies increase. With greater supply and new joint ventures, economies of scale can be achieved thus, bargaining power of suppliers would be low. Good

4.2.4 THREAT OF SUBSTITUTE Threat of substitute products are high with the array of different USB power banks available in the market i.e. Xiaomi’s 10,400mh Mi power bank is sold only at $13.99 (Xiaomi 2014). Since there are several different brands of USB power banks, prices are relatively reasonable and it has become available with the e-market. Therefore, the solar wireless charger must be priced competitively to influence the USB power bank users to switch.

4.2.5 INTENSITY OF RIVARLY Solar wireless charger is currently not available in Singapore. But, with the e-market being the world market place, solar wireless chargers can be acquired through the internet platforms and portals. In the ASEAN region and locally, the solar wireless chargers are not available in retailers hence, the intensity of rivalry is low. OK well covered and appropriate. What is the impact of your market entry?

4.3 CRITICAL SUCCESS FACTORS Critical success factors will determine the prospect of the SunBox. The Sunbox would require much advertising to create consumer awareness. The consumer market would also need to be educated of how solar powered chargers work and its benefits. Since the SunBox would be sold in retailers, the location of retailers are also important. The location would determine the consumer traffic and thus, create higher chance of exposure for the SunBox. Although the locations of retailers are important, the service provided and the quality of the SunBox must also be of highest standard, creating a trustworthy and reliable brand image.

Comment [JN8]: Are you assessing smartphones or batteries market?

Comment [JN9]: Who are the indirect competitors? Possibility the smartphone manufacturers who make more power efficient phones?

Comment [JN10]: Why not use publicity since it is a news worthy ?

Comment [JN11]: Your target markets are young and tech savvy, can it be sold by e-retailers instead?

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4.4 CURRENT MARKET CONDITIONS Smartphone capabilities have advanced tremendously in recent years however, batteries and battery technology have not kept pace and everyone has this problem (Haskin 2008). It is difficult enough to keep plain- vanilla cell phones charged for a busy day of talking therefore, battery life is much more needed when the device is used for web surfing, documents editing, text messaging, music and video playbacks etc. In 2007, Apple introduced the iPhone and that began the rapid growth of external battery. The demand for universal portable power flooded into the market and smartphone users became the largest segment for portable mobile power which is commonly also known as portable power banks (Green 2013). Portable power banks has its many advantages but of course, they are also not without their disadvantages such as steeper prices for good quality power banks. Other considerations may be the power capacity, the shape, weight and the charging time of the power banks.

5.0 MARKETING STRATEGY

5.1 MARKETING OBJECTIVES There are four marketing objectives we would like to achieve for the SunBox.

1. Penetrate and monopolize more than 10% of the target market though marketing and promotional events within a year.

2. Achieve top-of-mind awareness within the first year and maintain it by constantly keeping in contact with consumers.

3. Achieve at least 5% increase in all social media websites traffic monthly.

4. Become the top brand in the power bank industry within the next three years. 

5.2 OVERALL MARKETING STRATGEY

5.2.1 PRODUCT DECISIONS Our Team at Solaris Technologies has created the ideal power bank that consumers wish for. The SunBox is a wireless, solar powered power bank that is created from wireless technology and the marriage of solar cells and the conventional battery cell. The SunBox has a solar panel that provides an alternative solution to save energy. By tapping on solar power, the SunBox can charge mobile devices and tablets. The solar panels could charge the power banks during the day and be used later in the night. Under normal daylight condition, the SunBox only requires 4-hours to charge and 1.5-hours speed charge via conventional charging point. With the wireless charging technology, it does not require users to bring cables along to charge the mobile devices or tablets. The SunBox is compact, sleek, durable and built to last. 

The SunBox comes in four colours: Black, White, Champagne and Silver. The aluminium body structure provides a sturdy framework for the SunBox, measuring at 130mm X 90mm X 10mm and weighing at 200grams. Being sleek and flat and light weighted, it fits easily into bags or even purses. Since it uses wireless charging technology, cables would not become an issue for users. The wireless charging range is

Comment [JN12]: 10% is considered as “monopolized”?

Comment [JN13]: Writing in Third Person is required

Comment [JN14]: What is the capacity?

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up to one metres. It also has LED light indicators to reflect the status of the power bank, a trigger to switch on or off and a USB charging port for the power bank. Using the reliable GP battery cells, energy will be conserved efficiently during charging, whether it be charged via solar power or electrically.

Unlike the conventional bulky power bank designs available in the market, the SunBox is sleeker and much more aesthetically appealing.

5.2.2 PRICING DECISIONS Maximising the number of units sold and increasing our customer base would be our firm’s pricing objectives. By applying the mass market penetration strategy, it will allow us to pursue this objective of quantity maximization by means of a lower price. SunBox will be priced at S$49.90 which is approximately 15% lower than the average price of a power bank at Challenger retail store. SunBox will be priced at S$49.90 in the initial phase for various reasons. Firstly, there are many sources to purchase, brands and types of power banks in the market, the threat of substitutes are high therefore, customers are more price sensitive and the demand would be highly elastic. Secondly, distribution. Marketing and production contribute significantly to our cost of production. As we achieve increase in demand, we would be able to achieve economies of scale and thus, decrease the cost of production of the SunBox.  In addition, the features of SunBox is of the nature that is likely to gain mass appeal fairly quickly therefore setting at a lower price not only aid in the switching of brands amongst our target audience whom already owned a power bank but also communicate the values of affordability and values in relation to our differentiated features. Next, there is a threat of impending competition mainly because the barriers of entry are relatively low. The penetration rate of competitors is high which is why we propose to offer a price that cushion and reduces the impact of competition flocking into the solar wireless power bank market. Using the competitive pricing model, it gives us the opportunity to better meet the needs of both the firm and our customers.  Lastly, we implemented psychological pricing when we used S$49.90 because this price can help to signify a lower price, a fair price and it is one of the most popular price- point in the market today. Our pricing policy will be re-evaluated every quarter as there are likely to be changes in the demand and costs.

5.2.3 DISTRIBUTION DECISIONS

5.2.3.1 TELECOMMUNICATIONS PROVIDERS As our target market are mobile and tablet users, having the SunBox being distributed at telecommunications provider could be the first point of contact for the target market and our product. Furthermore, the telecommunications provider already have many retailing branches island-wide in major shopping malls to heartland areas, which will increase our exposure rate. Additionally, we would be able to capture users who already know they need the power bank upon purchase of a new phone or tablet. The SunBox will therefore, be distributed at the three major telecommunications provider in Singapore: Singtel, Starhub and M1. 

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5.2.3.2 RETAIL STORES The SunBox would be retailed in major electronic

retailing stores across Singapore. As it would not be cost efficient to merchandise the

SunBox at all departmental stores, we would only have it available at several well-known

and reputable electronic stores and departmental stores. As such, we have selected

Courts, Challenger, Gain City, BHG, Isetan, Robinsons and Metro departmental stores

to merchandise the SunBox as the consumer traffic at the afore mentioned retailers are

high. 

5.2.4 PROMOTIONAL STRATEGIES

5.2.4.1 PRINT ADVERTISING Traditional print media advertising would still be utilised in Solaris Technologies marketing campaign. Newspaper advertisement would only be occasional and not on a frequent basis but definitely be featured on TODAY as it is given to many commuters at public transport transition facilities. As we will be selling the SunBox at major retailers, we would also feature our product via their brochures and pamphlets and also point of purchase media boards. The SunBox would also be published in lifestyle magazines i.e. 8 Days etc. and also technology magazines i.e. PC Magazine.

5. 2.4.2 QR CODE ADVERTISING Being a tech company, QR codes would be utilised at bus stops, media panels and even print media to carry more information about the SunBox instead of having lengthy content on print adverts and media panel outdoors. 

5. 2.4.3 SOCIAL MEDIA

Social media such as Youtube videos featuring the SunBox would be readily available for viewing. The videos would clearly portray how the SunBox work and how it looks like. Other than just videos, the SunBox would also have a Facebook fan page for our target market to visit and find out more about as seen in Illustration 5.2.4.3. We would also use Instagram to post images of the SunBox and any other relevant articles to capture our target market.

5. 2.4.4 MRT & BUSES HANGERS ADVERTISING With majority of the target market, students to working adults commuting via the public transport such as MRT and buses. We would also put in advertising hangers as seen in Illustration 5.2.4.4 to reach out to them. With the hangers placed on trains and buses, it would definitely be seen by commuters during the morning and evening peak hours and also during the afternoon lunch crowds that travel via public transport. 

5. 2.4.5 BUS STOPS ADVERTISING As students are one the target market Solaris Technologies is targeting. The SunBox would be advertised at bus stops to ensure that it is exposed to the students from secondary schools, junior colleges, polytechnics and even universities both private and national institutions. Illustration 5.2.4.5 shows an example of how the bus stop advertising would be like. 

Comment [JN15]: Budgeted for video production?

Comment [JN16]: Well covered in Marketing Mix

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6.0 FORECAST AND BUDGET Figure 6.0 shows the monthly sales forecast for the first year of the launch of the SunBox.

Sales are expected to be slow in the first two months due to the lack of product and brand awareness. However, there would be intense marketing and promotional efforts in the first six months to promote the brand to increase brand awareness and familiarise consumers with the product and its features; thus, sales are expected to increase gradually. Competitors are foreseen to enter the market after half year with similar products, resulting in a drop of sales. The prices of SunBox will hence decrease from the introductory price of S$49.90 to S$45.90 in June 2015. 

In 5.2.4 Promotion Strategies, the core promotion activities will be conveyed through print advertising (30%) and social media advertising (50%). The company would be allocating 15% of the projected sales forecast for the media and communications budget, which would be S$3.4million. The marketing budget allocation is as follows:

25% of the budget for social media advertising;

30% of the budget on prints advertising;

15% of the budget on QR code advertising;

15% of the budget on handlebar flyers; 


10% of the budget for producing special events and;

5% of the budget to hire graphic designers, photographers and videographers to aid in the promotional activities and boost artistic value; 

The sales forecast (Figure 6.0.1) for the fiscal year beginning in October 2014 is calculated based on the marketing objectives that Solaris has set. It has met the objectives of penetrating and monopolizing more than 10% of the target market through marketing and promotional events in the first year as seen from the projected sales forecast; the total units of SunBox sold is 463,000 which is 10.85% of the expected target market.

The marketing budget will decrease to 10% of the projected sales forecast in the second year and down to 8% on the third due to the established brand image and awareness the company will gain in the first year. The budget will remain constant after the third year unless a strong competitor comes into the market and affects the status of the brand and position of SunBox. 

7.0 IMPLEMENTATION AND CONTROL PLANS

7.1 ACTION PLAN We have a one year action plan for our new product and we will review our marketing action plans so as to achieve the objectives of the company. For the first six months of the launch, there will be an intense advertising and promotional activities to create visibility and awareness of the SunBox. As mentioned earlier, we foresee that competition will intensify after six months of our new launch. As such, we will review our advertising and promotional activities and if need be, we will further increase the

Comment [JN17]: 50% or 25%?

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budget to create more awareness. Distribution points will also be reviewed. We will tabulate the total number of distribution points as of April 2015. 

In order for SunBox to reach the mass market, distribution points are vital. If mainstream distribution points such as Courts and Challenger are insufficient, we will look into sub trade distribution points, for example check out points of supermarkets and convenience stores. We will set a target to have at least 15 new distribution points each month in order to maximize sales profit in the first year ending September 2015.

Lastly, we will review the quality of our product as quality is one of our critical success factors. We will check on the number of faulty chargers returned to us and analyse the problem. We will relook into the value chain process of procurement and switch supplier of the PV cells if need be as quality must not be compromised in order to protect the brand image of Solaris Technologies.

7.2 CONTROL PLANS

7.2.1 MEASURING PERFORMANCE “Performance measurement system is crucial as it monitors the extent to which the business is achieve its business objectives” (Walker, Jr, et al. 2012).

Performance measurement will be used as a tool for Solaris Technologies. The process involves “setting standards of performance, specifying feedback, obtaining data, evaluating feedback and lastly, taking corrective actions” (Walker, Jr, et al. 2012). This five step model is used to monitor and evaluate both its marketing and business performance. It also ensures that the overall marketing strategy remains viable in the competitive industry

7.2.2 ORGANIZATION CONTROL There are several considerations that has to be made such as considering the degree of centralization in Singapore headquarters as well as the performance evaluation as a control mechanic locally. There areas to look at namely, quality performance and financial performance as well as personnel performance as measures that are utilized by many MNCs currently. 

8.0 CONTINGENCY PLAN There are several scenarios that would require the marketing team to adjust and change the overall marketing strategy, if they were to occur. Assumptions that sales of growth is dull or even when sales is greater than what we can supply, market entry of bigger competitors that may affect prices and costs of productions, raw materials prices may also fluctuate and not within our control thus, posing an issue to the cost of production. However, the marketing campaign strategy will not be changed immediately as we would require more information and measurements to determine the right contingency plan to be carried out in the event of any deviations from the marketing plan due to uncontrollable conditions.

9.0 CONCLUSION Solaris Technologies will be the pioneer of the consumer solar power bank industry. The advantages of setting out as the industry leader to capture majority of the market share and spear heading future projects that will benefit the market. The SunBox

Comment [JN18]: Is this consistent with your retail distribution strategy?

Comment [JN19]: Need to be more precise, too brief, this may not executable

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would be the flagship product for Solaris Technologies, promoting efficient power conservation, usage and storability, environmentally friendliness and great convenience. The SunBox would be Solaris Technologies statement of bringing convenience to users’ lifestyles and at the same time being eco-friendly. 

Comment [JN20]: Generally good clarity in writing, concise, few grammatical and spelling errors

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10.0 APPENDIX

Figure 3.2.1



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Figure 3.2.2

 Figure 3.2.3

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Figure 6.0



0

500000

1000000

1500000

2000000

2500000

3000000

3500000

T o

ta l S

a le

s ($

)

Refer to Appendix 6.0.1 for the detailed sales forecast.

Chart 1: Sales Forecast for the first year

Monthly Total

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Figure 6.0.1

SWOT ANALYSIS

PESTEL ANALYSIS

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Social Media Advertisement

Illustration 5.2.4.3 - Facebook Fan Page Comment [JN21]: Good effort, can attract your target markets?

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Illustration 5.2.4.4 - MRT & Buses Hangers Comment [JN22]: Show pictures of the product or Sun or something to associate with your USP

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Illustration 5.2.4.5 - Bus stop Advertisement



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Product Designs

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

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11.0 BIBLIOGRAPHY

Brush, Linnea. 2004. “Market Overview: Portable Power Market on the Move.” EDN,

Aug: 8-10. http://0-

search.proquest.com.prospero.murdoch.edu.au/docview/222450302/fulltext/F8A6

4D2FBDCF41A5PQ/3?accountid=12629.

Department of Statistics Singapore. 2014. Singstats. 1 Jun. Accessed Oct 28, 2014.

http://www.singstat.gov.sg/.

Dern, Daniel. 2012. “Portable Chargers for Your Mobile Gadgets.” IEEE Spectrum. 7

Nov. Accessed Oct 2014. http://spectrum.ieee.org/geek-life/tools-toys/portable-

chargers-for-your-mobile-gadgets.

Green, David. 2013. On Main Parameters of Portable Power Bank. 6 Dec. Accessed Oct

29, 2014. http://www.external-battery.net/news/82.htm.

Haskin, David. 2008. Smartphone battery life: 20 ways to juice it up. 9 Sep. Accessed

Oct 29, 2014. http://www.computerworld.com/article/2532856/mobile-

wireless/smartphone-battery-life--20-ways-to-juice-it-up.html.

Monetary Authority of Singapore. 2014. Rcent Economic Developments in Singapore.

Government Quaterly Report, Singapore: MAS.

National Population National Division. 2013. Our demographic challenge and what these

mean to us. Accessed Oct 28, 2014. http://population.sg/key-

challenges/#.VFZNTvmUd8F.

Richter, Felix. 2013. “Chart: The United States Ranks 13th in Smartphone Penetration.”

Statista. 27 Aug. Accessed Oct 28, 2014. http://www.statista.com/chart/1405/the-

united-states-ranks-13th-in-smartphone-penetration/.

Singapore Economic Development Board. 2014. Clean Energy. Factsheet, Singapore:

EDB.

—. 2014. Rankings. 12 Sep. Accessed Oct 27, 2014.

http://www.edb.gov.sg/content/edb/en/why-singapore/about-singapore/facts-and-

rankings/rankings.html.

Singh, Malminderjit. 2013. “$12m EDB grant for solar power research.” Marshall

Canvendish Business Information. 26 Jun. Accessed Oct 28, 2014.

http://www.timesdirectories.com/environmental/news/$12m%20edb%20grant%20

for%20solar%20power%20research/889324.

The Sunday Times. 2013. Smartphones and tablets a growing hit among Singaporeans.

18 Jun. Accessed Oct 28, 2014. http://www.straitstimes.com/breaking-

Comment [JN23]: Great effort!

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news/singapore/story/smartphones-and-tablets-growing-hit-among-singaporeans-

20130618.

Walker, Jr, Orville C, John I. Gountas, Felix T. Mavondo, and John W. Mullins. 2012.

Marketing Strategy: a decision-focused approach 2nd edition. New South Wales:

McGraw-Hill Australia.

Warsia, Noor Fatima. 2014. “Asian Moms, primary home decision makers, are going

mobile first.” Digital Market Asia. 9 Apr. Accessed oct 28, 2014.

http://www.digitalmarket.asia/asian-moms-primary-home-decision-makers-are-

going-mobile-first/.

Xiaomi. 2014. Mi Power Bank. 1 Jun. Accessed Oct 28, 2014.

http://www.mi.com/sg/mipowerbank10400/.

Comment [JN24]: Referencing (must include Academic Marketing Journals)

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