Repositioning of a Tangible Product

positioning of Tangible Product

Background / Current Situation

Product Analysis

Market Analysis / Competitor Analysis

PESTEL Analysis

Political Environment

Economic Environment

Social and Cultural Environment

Technological Environment

Environmental Environment

Legal Environment

Marketing Objectives

Financial Objectives

Marketing Strategy

Target Market

Unique Selling Proposition (USP)

Product

Price

Promotion

Distribution

GANTT chart of Proposed Marketing Activities

Appendix II Proposed Budget

The product RSP-150 Solar Power Maintainer is an environmentally viable product with rescue features. The product provides essential support for the battery in terms of its features of utilizing solar energy to charge car and leisure battery. The product has not yet attained its potential for market share. The capabilities of product should be highlighted with increased advertising and a re-positioned product approach. The product re-positioning is gained thorough analysis of internal and external environment and revamp of marketing strategy.

The marketing mix for the product incorporates a care pouch for the product and competitive pricing strategy. The United Kingdom market should be captured through an integrated approach of product promotion. It includes social media, print media, and direct marketing activities over the period of September 2013 until April 2014. The marketing objective is stated in terms of increase in customer awareness for 40%, a gain in market share of 25%, and sales increase of 20%.

2. Background / Current Situation:

The Product:

The solar power battery maintainer is basically a charger used to charge car or leisure batteries. It is a used for 12 Volts batteries. The charger has a suction cap installed enabling it for wide screen mountings. The product also has Light Emitting Diode (LED) light to indicate the charge. The product can also be used for overnight connections as it has a 2.7 meter long wire lead. The 12 Volts DC plug can be inserted in car's lighter holder. Battery clips are also attached with a lead for connection with battery. The dimensions of the product in box are H520 x W170 x D30. The weight is 675 grams with 1.5 watts capability. The product is also available in two other capacities with relatively large sizes, however currently only RSP-150 Solar Power Maintainer is considered for market assessment and repositioning.

Current Product Position:

The product position can be denoted as effective product in terms of using renewable energy to charge batteries as well as it is also effective in providing a rescue assistance in case of an uncharged battery. The quality and reliability of the product is high. The serviceability of the product is significantly moderate. However the product failed in achieving high share of the market due to numerous factors discussed in the next section. The technological features of the product are appropriate to position it well within the market.

Reasons for Product Failure:

The solar power battery maintainer failed to gain its expected market position due to multiple reasons. This major reason is observed as a failure to highlight its salient features and effectively communication it through marketing and advertisements. The marketing strategy of the product is not effective hence it does not provide required support for the product to be gain its popularity. The second reason is its public perception as solar battery charger is associated with only working on sun. However the maintainer can also be used with the car lighter. The customers are not aware of its salient features (Thieberger, 2011).

3. Product Analysis

Key Features:

The solar battery charger maintainer has a salient feature it starts charging automatically as soon adequate exposure to the sunlight is available. Additionally the product has a number of salient features that support its operations and facilitates customers. The product is fully weather resistant and could work efficiently in any weather with continuous operation in open environments. The most advanced feature of the product is that it does not drain the battery even after leaving it overnight. The overcharge is not allowed hence the system turns off automatically as soon battery is charged. Suction caps can be used to fix the product either inside or out the vehicle (Ring).

Pricing:

The product is sold at a price of £25.00 within the UK market. However there are multiple offers also associated with the distributors of product. A discount of 10% is also offered with the product in case of possessing a card for shopping through the website. Hence the discounted price is £22.50. The Go Outdoors store has it available for online purchase and lowest price is guaranteed through their lowest price guarantee policy (Go Outdoors).

Unique Selling Praposition (USP):

There is a unique selling position of the product that it uses solar energy to charge 12 volts battery. It can be used for charging batteries of vehicles, entertainment batteries, and while on the holidays and closed home it can automatically charge battery used in various appliances. It has an outdoor as well as an indoor usage which facilitates the users to maintain their batteries during their country holidays as well as in case of installation at home the batteries are charged while at return. These salient features define the product as a unique selling positioning.

Current Target Market:

The current target market of the product in United Kingdom is the outdoor activities. The product is marketed for the travellers, outdoor camping's, and holiday makers. The features highlighted of the products as well as its placement on the stores and websites for outdoor holiday makers is observed. It is also sold through DIY sections of the stores which indicate that the intended market of the product. The current target market is determined on the basis of marketing strategyfollowed to promote the product and its placement in relevant sections of stores (Go Outdoors).

4. Customer Analysis

Current Customers: (profile):

The current customers of the product are holiday makers in country sides, individuals of families going for camping holidays. The car owners living in midland and northern side of the country also use this product. The customers from young (15 years) to middle age (24 years) usually go for buy the product as a backup and rescue device to facilitate in charging car, caravan, and home appliances batteries.

Purchase Behaviour:

The purchase of the battery is seasonal as it features for winter usage. The excessive usage of car battery is observed during winter by utilizing excessive heater and wipers. The average battery life is observed as 2 to 3 years. The product can significantly improve it for two more years providing adequate charge for battery to maintain its working. In summer the product is purchased for country side holidays and camping.

5. Market Analysis / Competitor Analysis

Market Analysis:

The market size of specific product can be drawn from the camping, caravan and country side holiday makers. The significant number of 75% holiday makers is reported to take their own car as means of transportation to their destinations. The trend of camping and carving is reported as increasing in United Kingdom. The major reasons for such increase are recession and low incomes. These holidays are likely to cost less than other holidays. The rise of family holiday makers is also a healthy indicator for product market (Mintel 2011). It is also reported that 14% of the residents in London are likely to move out for the camping holidays during the season of Olympics. This indicates that people in London also like to move towards country side for holidays can consider buying the product (Mintel 2012).

Competitor Analysis:

The major competitor of the product is Nikkai with almost similar features. It is also noted that the price of the competitor is relatively low for the basic product. However the addition of the cord makes it exactly the same price as the product. The additional cord is already added in Ring's product without charging any extra amount (Amazon 2011). The product Rings solar power battery maintainer is also available with two other models however the competitor does not offer other models with increased capacity.

6. PESTEL Analysis

Political Environment:

The political environment of the market in terms of the product is in favour of renewable and solar energy government of United Kingdom is facilitating the green energy and related initiatives. Solar energy is considered as a batter option for energy requirements. The product does not fulfil requirements for complete energy solution however it is a product based on solar energy which is useful for commuters.

Economic Environment:

The overall economic conditions of the market are not quite promising. The economy of the country is in recession. It has multiple effects on the product including the spending habits of the customers. The road side rescue report (Mintel 2012b) indicates that economic conditions of car owners do not allow them to take advantage of the previously used rescue services. It is an indicator of potential opportunity for the product sales growth based on the economic conditions of consumers.

Social and Cultural Environment:

The social position of the product is notably strong as it is a socially viable and appreciated product. The solar energy…