Marketing Analysis of the Green Kinetic Ltd †Free Samples

Question: Discuss about the Marketing Analysis of the Green Kinetic Ltd. Answer: Market Segmentation: Another idea worried with the market division is promoting blend. It is imperative in promoting technique, with an objective of fulfilling purchasers' needs. It is additionally perceived as the 4Ps, comprising of product, price, promotion and place (Flynn and Goldsmith, 2015). Green Kinetic Company want to expand their business in the metropolitan areas of Melbourne. The fact is that it is a good market to sell the latest technological goods when the profile of the people is concerned. The company should segment the market into three parts among teenage, old age and middle age person. The Company must use the demographic segmentation rather than geographic, psychographic and behavioural segmentation. According to the Macro and Microenvironmental analysis, the economy of the Melbourne is quite stable. So, all age groups of the particular metropolitan area would be able to have the product of Green Kinetic Ltd. Apart from that, as the product is dynamos and eco-friendly people will be glad to have it for their essential purpose of charging. As per the graphical projection, it has been noticed that there is a significant percentage of the people between the ages of 36-40 (Krstic and Becic, 2011). As per the above graph, the energy consumption is the crucial factor nowadays in Melbourne. So, the company can also enlighten this factor to grab the market of renewable energy. Market Targeting and Consumer Profile: From the above market segmentation, it has been noticed that most of the people in Melbourne are belongs to age 36-40. It can be assumed that among them most of the persons are employed and have sufficient earnings. Therefore, it would be beneficial for the company if they target this person. There are several positive points (Turner, 2004). The people of this certain group have to work for 8 hours in a day. If they carry the product of the company they will get dynamos energy and this will help them to charge their gadgets. Apart from that, as they are employed so money would not be a factor to buy this product. The company should target the middle age generation to develop their business. Moreover, there is another advantage regarding youth generation, as they are very much interested in latest technology. The product is user-friendly and can be sustained in any weather. So sports person can use it as well (Sgouridis, 2014). Differentiation and Positioning First P of the 7ps marketing strategy is the product. The product development of any business enterprise is needed to be in accordance with the demands of their target customers (Luo et al. 2016, p.55). The company, Green Kinetic Limited is going to launch a device that can be kept in the pocket and will be charged up through the body movement. The customers will get a list of benefits from the innovative device. The customers do not have to take Renewable energy from others, and they can produce that energy using their body movement. Common power banks are not bad, but for that, the customers have to take charge from solar cells et cetera for which their time is invested. To save time, the customers were in search of a device that will save their time. The company's device is launched in a way that allows the users to use unlimited charge without even investing time. Now, they do not have to plug their chargers hour after hour, and the device will take charge from their daily moveme nt like dancing, exercising, running and all. The reliability of the product is to be maintained to attain the loyalty of customers. Price: Value for the money is to be represented by the products a company sells. Cheapest available products selling should not be the intention of a company. To deliver products that work best is to be the main aim of a company as the customers can pay well for the best products. Green Kinetic Ltd should make customers understood that the electricity bills are saved for the device, the burden of taking charge from solar cells is absent in this device. The customers will be able to charge their devices at anytime they want, and for that purpose, they do not have to take anyone's help. The company is to make customers happy to pay a bit more for reliable and best product. The clients should be informed about the construction of it and about the batteries for which they are paying. References: Flynn, L. and Goldsmith, R. (2015). Introducing the super consumer.Journal of Consumer Behaviour, 15(3), pp.201-207. Hadjinicola, G., Charalambous, C. and Muller, E. (2013). Product Positioning Using a Self-Organizing Map and the Rings of Influence.Decision Sciences, 44(3), pp.431-461. Krstic, I. and Becic, S. (2011). Implementation of marketing strategy: Factor of competitive advantage.Marketing, 42(2), pp.118-126. Luo, A., Roach, S. and Jiratchot, C., (2016). The effect of the 7Ps of the marketing mix on air freight customer satisfaction and repurchase intention.Journal of Supply Chain Management,9(2). Pp. 55-75 Sgouridis, S. (2014). Defusing the Energy Trap: The Potential of Energy-Denominated Currencies to Facilitate a Sustainable Energy Transition.Frontiers in Energy Research, 2. Turner, K. (2004). Insinuating the Product into the Message.Journal of Promotion Management, 10(1-2), pp.9-14.