Starting a Business and Fundamentals of Marketing

Starting a Business and Fundamentals of Marketing
Introduction
The new proposed ides for business
is to developing a solar powered
electric vehicle batteries. This
battery will provide a benefit to
directly charge it from the sunlight
and the battery is also charged when
the vehicles are moving under
sunlight.
SWOT Analysis
Strength
Main strength of this product is that it is a low
cost vehicle battery which reduce the overall
cost of electric vehicles
Weakness
The requirement of manpower is more for
producing this product but business have
limited number of workers in their business
Vision- “Company vision is to create a best &
affordable solution for electronic vehicle batteries”
Competition and competitive advantage
Threats of new entrants- The selected idea is
new in market so there is weak force towards
business. This is because for developing this
type of business a huge amount of technical
knowledge is require.
Marketing Mix
Product- New product of business is a solar
powered electric Vehicle battery which can be
charged in moving vehicles.
Price- Cost based price strategy is adopt for
this new product.
References
Gnizy, I., 2020. Applying big data to guide firms’ future
industrial marketing strategies. Journal of Business &
Industrial Marketing.
Johnson, B. and De Rouw, L.P., 2018. Collaborative
Business Design: The Fundamentals. IT Governance
Publishing.