Strategic Marketing Evaluation

Strategic Marketing
Evaluation

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1- SITUATIONAL ANALYSIS..........................................................................................3
Critical company analysis of BYD Energy............................................................................3
Critical Competitive Analysis of BYD Energy......................................................................5
Critical Customer Analysis of BYD Energy........................................................................10
Critical Strategic Collaboration & Contextual factors/issues...............................................11
TASK 2- STRATEGIC MARKETING OPTIONS AND PLANNING IN FUTURE..................12
Innovation Strategies for BYD Energy................................................................................12
International Marketing Strategies for BYD Energy............................................................14
The challenges facing BYD Energy in future......................................................................15
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Marketing a very critical and one of the most important influential factor which plays a
vital role in revenue, profits and growth of an entity. It is an act of spreading awareness in public
about the goods and Services Company is offering (Chernev, 2018). Moreover, marketing
includes promotional plans and strategies for effective introduction of products and services in
market and for attracting the targeted audiences. Therefore, marketing is considered as a
fundamental activity and most important operational action in an organisation small or large,
public or private. The current report is developed on Build Your Dreams Energy or BYD Energy
a high-tech organisation dealing in technology sector, innovating and developing zero-emission
energy solutions for customers. The company is focused and devoted to technology and
innovation creates best energy products for customers with the aim of rendering better life,
building efficient, safe and sustainable energy storage solutions of renewable energy.
The assignment is developed for thorough evaluation of the strategic marketing options
and plans which includes two segments in the report. The first is situational analysis where a
brief introduced of the organisation will be presented. Moving along customer and competitive
evaluation will be conducted as well with the help of Segmentation, Targeting and Positioning
model and Marketing Mix or 7P's tools. At the end, in this part of the report collaborative and
contextual factors are overlooked critically for knowing the marketing trend. In the next, part of
the assignment strategic marketing options are going to be evaluated with the help of models and
theories such as Innovation Strategies or Relationship Strategies or International Marketing
Strategies and many more.
TASK 1- SITUATIONAL ANALYSIS
Critical company analysis of BYD Energy
Vision/Mission:
The Vision and Mission statement of BYD Energy reflects upon its aim to develop and
render the best solutions to customers for renewable resources. The company is focused over
innovation and work for developing zero-emission energy solutions for residential and
commercial purposes (Keegan and Rowley, 2017).
Growth Strategies:

Ansoff Growth matrix a tool for strategic planning and effective operational functions
to work in current market amongst competitors and dynamic condition. The models is known as
product or market expansion grid. It has four segments representing separate growth options and
variances along with unique risks. The Ansoff growth matrix is discussed in detail in context of
BYD Energy for evaluating and suggesting the best growth option to the firm.
 Market Penetration- The first option is of market penetration stating to increase and
induce the marketing and promotional activities in the current market for improving the
customer base. Risk associated is very low and so as the success because the market is
already saturated as product offering is old. This is not suitable for BYD Energy as the
firm has enough customer base (Pham and et. al., 2019).
 Product Development- The next option in the matrix is of products development stating
the changes to be made in product portfolio of the company. BYD Energy is suggested to
innovate and develop new more attracting offerings for the existing customers. This
strategy is already being adopted by entity as its vision and mission statement shows the
devotion of firm towards innovation and building best renewable energy storage solution
for the society.
 Market Development- The next strategy of of market development which includes huge
risk. The growth option states that the company should develop new market for its
existing products by entering new regions with their operations and with exiting products
and services. The risk involved is of failure as BYD Energy do not known anything about
the marketplace, its trends either social, cultural etc. which can lead to unsuccessful
strategies and plans being developed and company cannot attain their goals and aims.
 Diversification- The last and the most risky growth option is of diversification which
suggest that the organisations should move into an entirely new market and develop a
new offering for them in order to fulfil their needs and requirements. It involved huge
risk of failure but BYD Energy can easily work upon it company is concentrated over
innovation and their aim is to render better lives to people and societies for which they
innovate and focus over technological advancement for developing the best energy
storage offerings (Coffie, Blankson and Dadzie, 2018). This is the most suitable growth
and expansion strategy for the organisation as the entity have appropriate knowledge and
skills to work upon the requirements and mitigate the risks involved.