Smart Meter Market Research and Analysis

This assignment analyzes the crucial role of market research in understanding customer demand for smart meter products. It discusses the benefits of extensive market research with a large budget, including employing market agents and media outreach, alongside cost-effective strategies for limited budgets, such as customer feedback forms. The importance of pricing, quality, and product size are also highlighted as key aspects influenced by market research.

Running Head - GLOW HOME SMART ENERGY TRACKER 1
Glow Home Smart Energy Tracker
Student Name
Institution
Date

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The concept of Glow Home Smart Energy Tracker
The innovative concept of Glow Home Smart Energy Tracker came about as a way of reducing
excessive electricity bills incurred by many users. It was also initiated in order to help clients in
keeping track of the most and least energy consuming appliances at home. The item came in
mind in order to settle the issue of wastage of money in paying misused electricity bills.
According to various studies conducted on the utilization of energy, the solution to this can only
be realized if people give real time feedbacks are provided. In this regard, studies show that 10-
20% of energy bills can be saved (Tavallee & Bagheri., 2009).
The application is made that simple, and even the simplicity is witnessed regarding installation
which entails attaching the wireless sensor to the utility meter box and after which plug in the
home unit on the wall. The newly designed and adequately smart home tracker will aid
profoundly in saving fuel consumption. The device functions using two elements which are the
wireless sensor that attaches to the outside of the utility meter box and the other one is the wall
unit that is plugged into the wall (Blake, 2014).
The sensor gives an alert when the electricity enters one's home and the in home unit ensures
that the information is sent to the glow app of the phone. Glow Home Smart Energy Tracker
works as follow: Glow tracks your home's energy usage using two devices: a wireless sensor that
attaches to the outside of your utility meter box, and the in-home unit which plugs into your wall.
The glow device has got the sensor which measures the amount of electricity as it flows into
one's home. The units later send information to the glow application on the phone. When the real

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feedback is provided studies show that the usage is optimized (Constache, Tudor, & Saunders.,
2011).
The device is tiny just like an egg with a flat base suiting any flat surface. The upper part of the
device entails lighting systems that indicate one-way use and increased savings. Glow Home
Smart Energy Tracker will be supplied to small kiosks for easy access as well as to large
shopping markets like the supper marketing hence targeting all classes of lives.
The concept of Glow Home Smart Energy Tracker came about due to research conducted on
how to save home energy easily especially when not in use for the intended purpose. In this
regard, the core product launched is the energy home tracker system that can be monitored on a
mobile phone since the device goes with an application that is installed on the phone (James,
2010).
Glow Home Smart Energy Tracker is easy to install, consumes less energy and also
automatic adjusting itself during the day and at night. These crucial features mentioned above
make the product to be unique in comparison to other products hence surviving a competitive
market. Glow can help an individual see the energy utilized as it happens; hence one can cut the
wastage hence saving the costs. Glow can be set to show the target value intended to spend by
ensuring that one is on track since the information is accessed easily (McLaughlin & McDaniel.,
2010).

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Market segments of Glow Home Smart Energy Tracker
In a direct competitive market involving this product and others, the producer needs to regard the
quality of production, price and also need to be aggressive in looking for customers for the
product to survive. The direct market segments of the Glow Home Smart Energy Tracker is
associated with products serving the same purpose when utilized by the clients. Such markets
usually have few buyers while the products are many. The production of Glow Home Smart
Energy Tracker as a product is based in Canada and USA. Research also depicts that competition
of the market is a real issue being faced in the region (Lioyd, 2017).
The production despite the fact that is limited in these two areas, the main target is to reach all
parts of the globe at large. Communication platforms, for instance, the internet are crucial in
reaching the target market and therefore will be employed to realize this. High markets are
therefore in USA and Canada. Other regions will accept the product it will be at a global level.
The product will be able to receive large sells globally. Studies reveal that no one wants to waste
resources. Therefore, Glow Home Smart Energy Tracker is an energy saving device will be
adopted by many from all regions of the world. Studies reveal that on the test made customers
have given a positive response that the product has been able to save over 20% of the energy use.
When this information reaches the people, they will be willing to use the device to as to cut the
costs short as well. The consumption of about 40% of electricity goes to waste, and therefore the
clients end up paying for this wasted energy. Despite the fact that people will acquire Glow
Home Smart Energy Tracker from all walks of life, it will, however, be noted that more
consumption of the product will be urbanized since the majority of people in urban areas use
electricity in doing most of the things. The marketing mix segments are however determined by

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crucial factors such as price factors of the product in that the amount subjected should be a
reasonable one. Also, the place to supply should be well selected, such that a place where people
are literate can work better (Cardenas, Berthier, & bobba., 2014).
According to studies, customers say that the product has been able to conclusively show
appliances that haven't been switched off yet not utilized hence they turn them off. The users
have therefore responded well to the existence of the product to the market.Manufacturing of this
product of different colors has been received well too since different people have different colors
of preference. Customers have appreciated on the use of the product saving that the utilization of
the product has aided profoundly in ensuring that there is no more wasting energy while away
hence reduction of expenses that otherwise could have been paid on more bills. Some customers
have appreciated the fact that glow app is an informative device. They are therefore able to check
as many times as possible ensuring that everything is in order. The product utilization will
increase the time goes by since the product is still new on the market. Reaching large customers
can be achieved through motivational and educational programs ensuring that many clients are
well versed with the product (McKerracher & Torriti, 2013).
Customer Behavior about the product
Studies show that the clients tend to have the morale to utilize the newly introduced product to
the market. The project is therefore new; many will want to use it to test importance. Glow
Home Smart Energy Tracker in this regard is a newly innovated device to the market that will
not replace any home appliance. Customers will connect the device to the top of electricity meter
box .when the device is in use, the client only notes the color change, for instance, more energy

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utilization the device turns umber or red, while when saving power, it turns green. Social factors
such as discouragements received from friends pertaining the product newly innovated product
in the market and therefore customers have friends who are likely to discourage them on the use
of the product. Other clients who may have used the product wrongly many develop negative
perception towards the product hence barricading sales. The risks involved in this case are that
most of the customers will want to test the product efficiency before paying for the product.
Also, the utilization of the product will be difficulty to some extent hence if wrongly employed
will result in a negative outcome. To overcome these risks, educative programs on how to use the
product are of profound significance hence need to be conducted. There is also need to help the
clients in product installation to avoid accidents.
An online plat form will be launched for both Facebook account, messaging platform, for
instance, WhatsApp number provided to the clients to contact the production company to get the
product. The approach will help the producer to know the quality of the product needed by the
customer depending on the amount of capital they have and what they prefer to purchase (Meuse,
2011).
Market Research
The crucial market information needed is to know the demand of the product launched to the
clients. High demand for the product is a direct indication that the customer like the product and
therefore many are willing to utilize the product. If the demand is low, then it shows that the
product is not appealing to the clients and therefore necessary adjustments to be laid down to

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improve on the product to change the perception of the customers about the product. (Torriti,
2016).
Carrying out market research is of critical importance regarding determining fundamental
aspects such as pricing of the product, quality of the product and even the size of the product
preferred most, hence essential.
Given large budget ease market research operation since the facilitation is enough. In this regard,
various market agents will be sent to access customers pertaining the product to ensure that the
information got is accurate and first hand. Direct association with the clients will give accurate
results. In addition, with the big budget, the media can also help in ensuring that all the
customers are reached at. Employing media contribute to enquire on the customers will also help
in harnessing critical information pertaining the market, relevant to the producer (James, 2010).
On the other hand, the limited budget doesn't mean doing shoddy work. The expansion of the
project to be realized customers need to be contacted, know their perception and therefore
adjusting as per the requirements. Approaches such as customer feedback forms send together
with the product so that after the utilization of the product, customers can give their take on this
product. The information provided back will help in ensuring that the right approach is made by
the production company targeting at enhancing the growth of the business (Blake, 2014).

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References
Ben, L. (2017). Glow, the smart energy tracker for your home. Kick stars journals, 1-6.
Blake, L. (2014). My works on energy tracker. New York: online.
Cardenas, Berthier, & Bobba. (2014). Framework for evaluating intrusion detection
architectures in advanced metering infrastructure. Melbourne: Smart grid publishers.
Constache, Tudor, & Suanders. (2011). Remote control of smart meters. Goteborg: Sweden.
Hess, David, & Jonathan, C. (2013). Wireless smart meters and public acceptance. Texas:
Science technologies.
James, S. (2010). Smart Building Systemes for Architects, owners, and bulders. Chicago: online.
Jin, Jia, & Spanos. (2017). Virtual Occupancy Sensing; Using smart meters. Chicago: Mobile
computing Org.
Lioyd, A. (2017). Glow cute and smart energy trackers. New York: Kickstarter page.
McKerracher, & Torriti. (2013). Energy consumption feedback in perspective: Integrating
Australian data to meta analyses on in the home display. Energy efficiency, 6(2), 387-
405.
McLaughlin, & McDaniel. (2010). Energy theft in advanced metering infrastructure. Rome:
Springer and Heidelberg.
Meuse, M. (2011). Hydro uses new technology to stop theft. New york retrieved online.

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Tavallee, & Bagheri. (2009). Detailed analysis of data usage set. Minnessota: energy
engineering conference.
Torriti, J. (2016). Peak energy demand and demand side response. Routledge: online.
Zhang, Wang, & Sun. (2011). Distributed intrusion detected system in a multi layer network
architecture of smart Grids. New york Smart grid publishers.