Running head: MARKETING A NEW PRODUCT

Marketing a new product

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MARKETING A NEW PRODUCT

The product
The product will be a solar powered lamp. This specific lamp has the ability to charge cell
phones or other USB gadgets and its lamp shade performs as an electricity free sound amplifier
for MP3 players or smartphones, rendering this solar gadget awesome for developing nations
with rare electricity and also for camping funs. The lamp consists three brightness settings
relying on ones requirements and the design enables the lamp be used as a ceiling light, reading
light or portable lamp. The solar panel entirely charges the batteries after seven to nine hours in
total sunlight. Afterwards, the lamp can run for 50 hours on minimal brightness setting, nine
hours on moderate and five hours on high.
The overall Strategy
The general strategy will encompass conducting a market research to ascertain the perfect target
market and consumer. Segmentation will be used to identify and develop several diverse natures
of customer profiles. Focusing the marketing energies on specific segments of the market as an
alternative to trying to plea to everyone will help me in gaining a competitive edge. The overall
strategy will guarantee that the segments acknowledged are customer-focused, justifiable in size,
distinguishable, accessible, accountable and most importantly profitable.
Characteristics of the target market
Considering the options existing amongst richer households, counting solar home systems and
generators, the solar powered lamp market is principally targeted to the Base of Pyramid
consumers and small businesses. Besides, while numerous countries feature an ample urban offgrid population, the difficulty of electrification is predominantly critical for the rural unfortunate
poor who comprise the majority of impending solar powered lamp customers.

MARKETING A NEW PRODUCT

Most of the households lack access to consistent electricity than official statistics propose.
Approved electrification data at times overrate the on-grid populace by counting households
living in grid zones, but lacking a dependable and authorized grid connections, in Haiti, for
instance, the official electrification level stands at 25%, with merely half of these households
possessing, secure grid access. More imperatively, numerous poor on-grid families and
businesses in Latin Asia, America, and Africa experience frequent and lengthy blackouts.
Research submits that this under-electrified BOP population arrays from 10% to over 50% of
the on-grid populations in most countries, with the problem being predominantly critical in
Africa and in country side areas of South and Southeast Asia. The under-electrified populace is a
chief latent market for off-grid back-up power solutions such as the solar powered lamps.
In a nut shell, the characteristic of the target is that they are developing nations especially on the
rural areas. The targeted groups will be the youths pursuing education or in small businesses as
well as adults requiring the lights for their households.

Why the target market is attractive

The economic and social impact of offering unpolluted, safe lighting has been well recognized. It
has lately gained improved emphasis from investments in renewable technologies and distresses
raised by discharges from biomass sources of light and traditional fossil fuels. It is upon the
realization of the consequences of global warming that people even at the house hold levels are
appreciating and embracing green technologies. The solar powered lamp thus stands out
attractively especially in the rural areas where electricity is not quite prevalent.
Roughly 1.6 billion people in the world live deprived of electricity. The consequences of this are
intense. A lack of consistent lighting access confines the efficiency of almost a quarter of the

MARKETING A NEW PRODUCT

worlds population, deterring their capacity to carry out rudimentary activities at night or in the
dusk hours, including household chores, conducting business, studying and completing
schoolwork,. Considering the sluggish growth of electrification, the worldwide lighting
predicament gradually splits those with dependable lighting from those who dont have it,
additionally leaving a considerable percentage of the worlds population behind. The solar
powered lamp thus offers a perfect solution to this problem.

Numerous studies in developing countries indicate that access to appropriate lighting (of
sufficient illumination to allow reading and undertaking business and household-related
activities) has noteworthy positive influence on production broadly and income-generating
activity precisely. For the majority of rural households, for example, finding fuel for lighting can
be a time-consuming chore that entails traveling for long distances and is normally undertaken
by children and women, plummeting womens open time for income generating undertakings.
Studies on solar home systems has confirmed that poor Indian households that work in small
cottage industries augmented their income by using light to spread their prolific hours after
nightfall. This suggests that the solar powered lamp is likely to have a higher demand hence
representing a very attractive target market.
The positioning strategy
Product positioning will be very essential in determining how to best communicate my solar
powered lamps qualities to my target customers founded on the customer needs, competitive
pressures, and existing communication channels and prudently crafted key messages. The
product positioning will also ensure that marketing messages resonate with target consumers and
induce them to take action. The positioning strategy will be founded upon the environmental

MARKETING A NEW PRODUCT

friendly element of the solar powered lamps. Individuals everywhere want to minimize their
carbon foot prints. Hence, this strategy will provide them with an alternative lighting solution
that will help them produce minimal amounts of carbon.

References
Frank E., Massy F. & Wind Y., 1972. Market segmentation. Englewood Cliffs, N.J., PrenticeHall
Gerson F., 1994. Marketing strategies for small businesses. Menlo Park, CA: Crisp Publications
Mustafa

K.,

2009.

PRODUCT

POSITIONING

STRATEGY

IN

MARKETING

MANAGEMENT.
Journal of Naval Science and Engineering. Vol. 5, No 2, pp. 98-110
Tanner F. & Raymond A., 2011. Principles of marketing. Irvington, N.Y.: Flat World Knowledge