A Market Feasibility Study on Launching Transparent Solar Panels

Project Report for Partial Completion of Marketing Management Subject

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A Market feasibility study on launching Transparent Solar Panels

Submitted to:

Professor Vibhava Srivastava

Marketing

MDI, Gurgaon

Authored by:

Group-8|Section-B | NMP-29

Mukesh Pratap Singh         29NMP52

Rajeev Goswami                29NMP64

Samresh Srivastava                 29NMP73

Soumik Nag                        29NMP81

Saswat Ota                        29NMP91

Acknowledgement

We extend our heartfelt gratitude to MDI, Gurgaon, for providing us with an opportunity to take up the course on Marketing Management of such vigour. This Marketing Management course of NMP is very relevant in the current business scenario.

The current project work on “A Market feasibility study on launching Transparent Solar Panels” contributes to the completion of the course which will culminate to the credits for National Management Programme. This study has revealed to us the intricacies of building up marketing strategies in a holistic manner.

With deep sense of gratitude, we acknowledge the encouragement and guidance received from our project guide Professor Vibhava Srivastava.

Table of Contents

Executive Summary        4

Introduction        5

Situation Analysis        7

Market Summary        7

Market Needs        7

Market Trends        8

SWOT Analysis        9

Strengths        9

Weaknesses        9

Opportunities        9

Threats        10

Competitor Analysis        10

Keys to Success        10

Critical Issues        10

Marketing Strategy        11

Target Markets        12

Positioning        12

The Brand Positioning Process        13

Segmentation and Finding Your Target Market        13

Identifying Competition:        13

Point of Parity        13

Point of Differentiation        13

Marketing Mix        15

Pricing:        15

Distribution:        15

Advertising and promotion:        15

Customer service:        15

Marketing Research        15

Financials        16

Sales Forecast        16

Expense Forecast        16

Executive Summary

This report showcases renewable clean energy programs and smart marketing strategies across the country that address how to overcome the barriers faced by solar technology markets. While there has been a major increase in solar photovoltaic (PV) installations in recent years, the total amount of solar photovoltaic installed nonetheless represents less than 0.1% of world’s energy production. In order for solar energy to make a sizeable contribution to the green economy, jobs, and greenhouse gas reductions, more solar technology deployment will be required.

However, installing solar technologies is no simple task. The reality is that in order to drive more solar power installations, solar programs must address the key barriers to its market growth. Although state solar programs report limited marketing initiatives of their own, this perspective reflects a narrow definition of marketing – one that primarily focuses on communications-centered initiatives, such as website strategies, public relations activities, and education of stakeholders. These marketing resources are important. However, marketing in the broader sense should play an important role to expand the growth of solar, and state solar programs play a critical role in creating and supporting effective marketing initiatives that can address the major market barriers. The American Marketing Association defines marketing as “the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives.” effective marketing guides how, when, and where product information is presented to consumers, with the ultimate goal of persuading consumers to purchase a particular brand or product. Therefore, state solar program managers must see themselves as a critical part of the solar sales process.

Introduction

Imagine a world where every surface, which is exposed to solar power able to convert it to usable energy form. You’d wake up to the alarm on your fully-charged smartphone, pluck it off the windowsill and hop into a hot shower — courtesy of a solar heating system powered by your enclosed patio. You stroll out to your electric vehicle and flip on the radio, powered by your sun roof, and head off to your net-zero office building — which skirts the grid thanks to its majestic floor-to-ceiling windows.

This scenario may sound like science fiction, but recent developments in solar technology suggest that it barely scratches the surface of where the industry may be headed in the coming decade.

Solar energy as its name shows the energy of the sun. Since the beginning of mankind we have used the energy of the sun to dry clothes and food but it wasn’t until 1954 scientists in the United States worked out a way to use the sun to create electricity.

Renewable Energy

Renewable energy is energy that is generated from natural processes that are continuously replenished. This includes sunlight, geothermal heat, wind, tides, water, and various forms of biomass. This energy cannot be exhausted and is constantly renewed. The sun is probably the most important source of renewable energy available today. Traditionally, the sun has provided energy for practically all living creatures on earth, through the process of photosynthesis, in which plants absorb solar radiation and convert it into stored energy for growth and development.