Strategic Marketing for BYD: Competitor Analysis and Customer Analysis

This report outlines the strategic marketing plan for BYD, a high-tech company dedicated to renewable energy solutions. It includes an analysis of the company's mission, vision, growth strategies, and core competencies, as well as an examination of two main competitors and a critical customer analysis. The report also explores the trends and factors influencing customer behavior in the energy industry.

Strategic Marketing

Table of Contents
INTRODUCTION...........................................................................................................................3
Part-1................................................................................................................................................3
Examine the mission, vision and directional and growth strategies, competitive benefits and
competences...........................................................................................................................3
Examine two main competitors..............................................................................................6
Critical customer analysis.......................................................................................................7
Part-2................................................................................................................................................9
Examine two main topics- international marketing strategies and relationship strategies.....9
Consider the challenges that might be faced by the company in future...............................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
Online:..................................................................................................................................14

INTRODUCTION
Strategic marketing refers to the manner in which an organization efficaciously
distinguishes itself from its key competitors by capitalising on its strengths (both existing and
potential) to cater systematically better value to consumers than other leading players. It involves
more creation than a normal marketing mix. The process of strategic marketing consists
performing a good research and setting objectives and goals that will boost the success as well as
effectiveness of the entire marketing strategy. It is beneficial for the companies as it makes them
to be more intentional with the marketing (Alsem, 2019). It makes them able to make sure that
the company targeted the right masses, utilised the right modes or mediums or entered the right
markets. The report is based upon BYD (Build Your Dreams) Company. It is one of the high-
tech companies dedicated to technological innovation in order to serve better life. The key
objective is to make safe, efficient and stable storage solutions for renewable energy. It is known
for providing zero-emission energy solutions. The company produces many products or services
in their business such as battery box low and high voltage for commercial and residential
purposes around the world. The following report is divided into two parts- in first part, there is
discussion based on situational analysis, company's examination, customer, competition
collaboration as well as context. In second part, there is an analysation of different strategic
options that a company can use. Different models, theories or concepts are the significant part of
this report.
Part-1
Examine the mission, vision and directional and growth strategies, competitive benefits and
competences.
About the company:
Build Your Dreams or BYD is one of the popular companies in technical industry. It aims
to serve various services and products which are beneficial for the commercial and residential
projects. Its products are basically made with an intention to reduce the negative impacts on
environment (Buccieri, Javalgi and Gross, 2021). These goods are serving zero-emission energy
solutions. Its covers battery-box with high and low voltage, large scale battery projects in
different regions or countries.

Vision: To become a leading clean as well as renewable energy organisation by catering
sustainable energy solutions with the help of deployment of technologies, together with
innovation in a socially responsible mode.
Mission: To cater non-toxic energy solutions with zero pollution and zero emission.
Objectives: The key purpose is to make stable, efficient as well as safe storage solutions for
renewable energy.
Directional and Growth strategies- Ansoff Matrix
The Ansoff Model is useful for the marketing leaders to know the growth opportunities
for the business for their marketing strategies in this challenging market. This is a matrix which
shows four key strategies or directions through which an organisation can grow or develop their
business significantly (Farahani, Nasirzadeh and Esmaeili, 2019). This matrix also helps
company to know the risks associated with each strategy. In context of BYD, the discussion is
underneath:
 Market Penetration: This is a strategy through which an organisation can exploits its
current products or services into the same or existing market. It helps in increasing
market share with the similar goods and services. In case of BYD, the company can use
its products with low price range to attract new customers, also paying more focus on
promotional and distribution activities.
 Product development: Through this strategy, the company can add some new features to
its existing good or service, or even may create completely new products while serving
them in the similar market to attain the customer's interests and for the purpose of
removing boredom. This strategy enables company to cater innovative solutions to meet
the demands of customers in the existing customers. BYD can focus on the natural
resource which will refill to replace the part exhaustedly consumption and usage. They
can produce naturally which may cover wind, tides, sunlight, geothermal heat and more.
 Market development: In the market development, the organisation focuses on the new
market with its current offerings and services. It is including different regions, customer
segments and so forth. It involves lesser risk as the company is already successful in the
existing products and services and chances are gaining new markets effectively. BYD can
expand business nationally or internationally or also focus on the new customer segment.

 Diversification: It involves the higher risks among all the directions or strategies. The
organisation offers a new product in a new market (Goswami and Sinha, 2019). As it
involves the major risk, simultaneously can offer greatest potential to boost revenues for
the firm.
By analysing all the above strategies, it can be said that market development strategy can
be best appropriate for the BYD Company as it carries less risk while giving huge potential or
chances to boost its market share and earning more profits for the business. Also, as the company
is doing good in its current offerings, there are high chances that it can increase its market share
on significant note.
Resource Based View:
RBV is a concept that is mainly focuses on attaining the competitive benefits. It believes
that organisations should seek inside the organisation ton identify the competitive benefits
sources rather than focusing on the competitive environment.
Resources: These are basically involved all the assets, organizational processes,
capabilities, information and knowledge, firm attributes and more (Ketron and Mai, 2022).
 Tangible assets: These include firm's property, equipment, machinery, owner's capital
and more. These can be seen and simply bought in the target market in order to gain
benefits.
 Intangible assets: Intellectual property, trademarks, brand name or reputation can be
considered as the intangible assets. These are found mainly inside the business are the
key source of sustainable competitive benefits.
Key Components of RBV Model:
 Valuable: These are considered as the resources which bring value to the organisation to
gain competitive benefits. Employees are valuable asset to the firm as due to their efforts
and contribution, the firm is able to attain a competitive edge in the market. Financial
resources are also valuable to the firm as it makes company to engage in the projects.
While, supply chain management also plays a significant role in the to gain competitive
benefits.
 Rare: These kind of resources have to offer some differentiation in comparison with the
competitors. Employees found as rare resource for the firm as the respective firm
provides many training and leaning sessions to improve their skills and capabilities to

work for the benefits of company. Financial resources are also rare to the firm as it is not
easy to acquire a reasonable amount to operate a business. Supply chain management is
not a rare resource as many other firms also focuses on their distribution process.
 Inimitable: It denotes the sources of sustained competitive benefits if other key players
in market cannot attain them. Employees are imitable in nature which can be hired by
other key competitors in the market. They can also give relevant training and
development sessions to them so that skills can be enhanced. Financial resources are not
imitable or copied by competitors as it is not easy to sustain in market if company
financial position is low (Lim, Jee and De Run, 2020).
 Non-substitutional: Resources should not be able to be arranged by any other tactically
equivalent valuable resources. Employees are not a non-substitutional resources as it can
be replaced by anyone who are more skilled or qualified. Brand image the company is a
non-substitutional resources and cannot be replaced by any key competitor. The
respective company is required to use patent and trademark so get prevented from
stealing the name or logo of the company.
Examine two main competitors.
In context of BYD, it is very useful for the organisation to concentrate on their growth by
analysing the motives and strategies of other key players in the market. Assessing competitor's
strategy in an effective way and then creating own competitive strategy is efficacious to prevent
the harms of rivalries within the similar sector. In BYD's context, the two main competitors
which are considered is Tesla and Sinohydro Corporate Ltd.
Tesla: This organisation is globally famous as electric vehicle as well as energy producer
brand. It is established in Austin, Texas. In 2003, the company was founded by Martin Eberhard
and Marc Tarpenning as Tesla Motors. It has world-wide operations with 655 outlets. This brand
is highly grow through its sustainable market strategies. The company produces electric, together
with automation cars for their users which is not harming the natural environment. Their brand
recognition and brand value supports them to earn a sufficient amount of revenue approx. US$
6.52 billion. The core competencies of the company are mainly their innovative manufacturing
strategies, distribution and safe design (Chatterjee and et.al., 2021). The respective company has
achieved a brand image with their manufacturing processes. Their differentiated car models and
examples of their high-tech technological resources supports in attaining competitive benefits

within the same industry. The position of this organisation is quite impressive and high and the
positioning statement is “the only stylish car that can go from 0-100 km/hour speed within just
three seconds without a single drop of petrol” (Pham and et.al., 2019). Its customers have huge
brand loyalty because of its quality the company offered. In addition to BYD, it is necessary to
evaluate their competitive strategies with Tesla as well as the factors influencing the high
positioning in the place of market. It can customised for their manufacturing process where it can
also produces vehicles or any technological device less harming the environment.
Sinohydro corporate Limited: It is a China based organisation which is also a tough
competitor to the BYD Company. It produces energy with the help of hydro power. In 1950, it is
established in Bejing, China. It attained the position of 14th throughout the world due to its higher
performance while stood out as 6th itself in China (Moriuchi and et.al., 2021). In more than 55
nations, it has expanded its business while presently, it is thinking to expand in Israel market.
This organisation engaged itself in many businesses by investing in projects of electric power,
agriculture, research and development, house property and so forth. Sinohydro is also another
competitor of BYD Company. The core competency is to increase high marketing share to keep
their sustainable and renewable resources while offering to other sectors who needed it for their
key operations. In addition Build Your Dreams, they are also needed to expand their market and
should think to indulge renewable energy to their consumers with the support of hydro power. It
is also beneficial to invest in R&D activities while knowing and analysing the demand of hydro
power by their customers.
Critical customer analysis.
For organisation, it is important to analyse their target market effectively so as to make
strategies to gain more customers within the industry for impressive development. STP will
assist in analysing the effective strategies which can be used by BYD to expand market share.
Segmentation: In this step, a bigger market is categorised into smaller segments of
consumers so that the organisation will know which segment is needed to target for the
advantages of the organisation. In case of BYD, the segmentation is done below:
 Geographical segmentation: The market is segmented on the basis of location as well as
area. In addition to BYD, markets are targeted throughout the world by evaluating
various factors such as political, legal requirements and so forth.

 Behavioural segmentation: The market is targetted on the basis of customer's
behaviour, attitudes and beliefs. Loyal consumers are divided into single segment and
remaining will include in moderate loyal customers. The chosen company concentrates
on such segments of customers who are loyal towards the company, together with those
who express their needs and demands in market (Tooranloo and Saghafi, 2019).
Targeting: This step covers the process of choosing one or more segmented group from
many alternatives of divided groups. In addition to BYD, it is highly focused on the local
customers and organisations who necessitate electro power for their regular operations. They pay
attention to target such users who are loyal and consume services and goods for good time
period. The company target the customers who express interest as well as loyalty for renewable
and sustainable energy resources.
Positioning: It is the last step in STP approach which shows the creation of position
within the target market. In case of BYD, the organisation is build a high position within the
target market due to that cause it is able to increase its business globally. It is recommended to
the respective organisation to advertise their goods and services in the market so that their
customers will gain knowledge about the services and goods. Indulging low prices in comparison
with competitors will help in enhancing the market reputation while acquiring more customers.
Customer behaviour and trend analysis
In case of energy industry, there are many trends and factors that have an influence on the
customers, organisations which offers their goods and services to their customers. Some of the
trends in the sector are as follows:
 Internet of energy: Internet is exploited for many purposes by an organisation for
growing their profitability and productivity. It is exploited to design as well as blueprint
the goods and services efficaciously (Yiliang, Chelliah and Teoh, 2021). For instance,
BYDRO is IoE platform used to links energy developers, investors and customers all
together. This supports organisation to assess the special requirements and needs of
customers for the products so that the organisation will fix the energy amount
appropriately.
 Renewable energy: Moving to renewable energy will assist the organisation to prevent
the surroundings from dangerous impacts of carbon. Infusing energy from natural
resources such as wind, water, sun and so forth are addressed as renewable resources. In

case of BYD, they are already attaining success in the sector through the procedure of
renewable energy (Kearney, 2019).
 Vehicles to grids: It is a system in which EV's trade energy in respect to demand either
by reverting energy to the grid or by limiting the rate of charges. If EV batteries lately
revert the energy to the grid with the help of charging stations, it is likely to utilise as an
asset of energy storage.
Part-2
Examine two main topics- international marketing strategies and relationship strategies.
International marketing:
International marketing can be understood as the strategies and methods exploited to
market goods and services in several countries. This global marketing strategies includes
countries from different section of the world while aiming at coordinating marketing efforts in
marketplaces in such regions. These could be in the way of import or export, licensing,
franchising, online sales (Kim and et.al., 2021). International marketing strategies need
appreciable investment in resources, money, manpower to identify and acknowledge the diverse
markets, cultures, country, local tradition, etiquettes and many more. In context BYD Company,
they can exploit or focus on various global marketing strategies which can be beneficial for their
business. Here, are some tactics discussed in company's context:
Understand the cultural differences: When going for branding throughout the world, it
is very important for an organisation to do some international marketing research on the words,
phrases or any sentences mean in that nation. Different countries use different languages to talk
or communicate with each other, so, in order to better share the knowledge about the product or
service, it is essential for an organisation to do research on the languages so that customers can
better know about the offerings of a brand. Addition to this, the language should not hurt the
emotions or sentiments of the masses, as suppose if brand expressing something and it get hurt
by the sentiments of the consumer (Ko and et.al., 2020). An improper brand name in a certain
linguistic or cultural milieu can cause a big harm to the organisation and its marketing efforts
may fall into the drainage. In case of BYD Company, if the company expanding their business in
different regions or countries, then, it must take the help of researchers so that they can remove
the language barrier in the marketing process.

Advertisements: It is recognised as one of the most powerful marketing tools that can
support an organisation to fulfil its dreams and get higher number of sales by advertising
products on different means or channels. Putting words for the product or service in an
international radio channels, newspapers, posters or on internet channels such as Facebook,
Google, Twitter and more can help in building customer base (Rooijackers, 2020). In addition to
BYD, if the company wants to expand business globally, then, in order to target masses, they can
provide several offers through websites, emails and many more, which will create doors to new
customers and they can share the knowledge about their products and services effectively and
efficiently.
Price promotions: The best manner through a company can get a buzz of their products
and services is by utilizing several promotional tools. The company can increase its sales of
products through giving some trial to the customers or by offering discounts on products. Freebie
is also now trending to increase the sales of goods and services among target masses. In case of
BYD, they can offer products with reasonable prices or fair prices to gain the customer attention.
Customers always want to get products and services such as battery box at reasonable amount as
these are becoming necessity and essential for any residential or commercial area (What are the
types and tools for International Marketing Strategies?, 2020).
Relationship Strategies:
Relationship marketing can be understood as the efforts put by an organisation to develop
a strong and long-term relationship with customers with an intent to engage them for a longer
time period. Additionally, the organisation may have diverse products and users pass judgements
on the merits of the brand, based on their experiences getting from first purchase. If the customer
satisfaction level is high, then clearly it got the chance that the customer will do repeat purchases
on such things. In addition to BYD Company, the following are some relationship marketing
strategies that can be beneficial for the firm:
 Prioritize customer services in the relationship marketing strategies: As the name
suggest, relationship marketing is all about connecting customers positively. That
emphasize on personal support to the customers, regarding their issues or concerns. It is
based on the knowing the needs and wants of customers while ensuring the human
operating at the help desk are courteous, friendly to the customers (Stewart and Morgan,
2020). In addition to BYD, if the consumer come to brand while telling their issues

related with the usage or repairing equipments, then it is the responsibility of the person
who is attending them that he or she must clear their doubts or resolve queries effectively
so that customer do not disappoint by the services.
 Email marketing: Retention of customer information supports organisations conveyed
emailers on regular basis, in context with new products or services, exclusive offers, new
launches, exchange offers, clarifications regarding some service issue or product failures
and so forth. Mailchimp is one of the best tools of email that enables organisations to
send information to bigger number of target masses without being spammed.
 Social media for relationship marketing: Nowadays, social media platforms has
emerged to share the information with current customers while generating leads to new
customers as well. LinkedIn, Twitter, Facebook, Google plus and many more can be
effectively exploited for promotional objectives. In case of BYD, it is important that the
company must create their corporate accounts on such platforms such as Facebook or
LinkedIn while focusing on to not post little or too much content or information on such
platforms (Introduction to Relationship Marketing Strategies, 2020). BYD can cater the
information about new products developments or innovation in their business so that their
customers would know what the brand is actually offering to them.
Consider the challenges that might be faced by the company in future.
There are many challenges that might be faced by the BYD Company, although these are
offering exciting new developments being created all the time, the upcoming time looks bright
for tech organisations. The forthcoming time is set to cater some incredible new opportunities for
the companies such as BYD, but which some implementations and changes, there are chances
that it might face many new challenges that the business should be aware of. In addition to BYD,
these challenges are mentioned below:
 Adapting to consumer changes: As the today's world is full of challenges and
dynamics, technical teams are facing obstacles in product or service focus, timelines,
budget and team dynamics (Strategy, 2020). For BYD Company, the biggest difficulty of
the firm will be how their customers are changing their mindset for the specific product,
service or even brand. Being a successful high-tech company, it should effectively
analyse the needs and wants of their users, these changes are never seen before. The

changes in the buying habits, retention and needs are always dynamic so the company
may face challenge in the analysation.
 On-boarding new tech and processes: Due to the cause of Covid-19 pandemic, most of
organisations have had to speed the move to digital mediums for remote working. Swiftly
on-boarding new processes and technologies generates developing pains that the
organisation require to ensure that these are determined before it influences negatively on
the production and lead to discontented employees (Vululleh, 2020). The respective
organisation may take small steps wherever it is possible while making up team to the
journey.
 Achieving balance between routine and long-term tasks: The biggest difficulty is to
gain a healthy balance between regular activities and long term strategic tasks.
Technologies, cyberthreats and business aims are always changing and the need or
priority of the business always changing to keep up the competition high in market while
evolving threat landscape, tech leaders must make sure that the tactic activities are not
interred under routines. In order to cope with this challenge, the BYD Company make
sure that the communication process should be done effectively and always be ready to
accept new challenges while learning (Whitler, 2021).
CONCLUSION
From the above study, it is concluded that strategic marketing helps organisation to create
differentiation from its key competitors while attaining growth and success in an efficacious
way. It helps in increasing the strengths of business while improving the brand image and brand
loyalty. It is more than ordinary marketing mix which delivers enhanced benefits to organisation
if use smartly. There are various aspects covered in this study such as competitor analysis,
consumer analysis, growth and directional strategies and many more. International marketing is
used to advertise goods and service throughout the world. The company need to understand the
cultural differences before doing international marketing. At the end, relationship marketing
aims to build strong and healthy relationships with customers for a good amount of time.

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