Strategic Marketing Evaluation Report - BYD Energy, Task 1 & 2

This report provides a comprehensive strategic marketing evaluation of BYD Energy, a high-tech company focused on renewable energy solutions. The report begins with an introduction to BYD Energy's mission, core values, and strategic goals. Task 1 focuses on applying marketing frameworks ...Read More

Strategic
marketing
evaluation

Table of Contents
Introduction......................................................................................................................................3
TASK 1............................................................................................................................................3
ANSOFF matrix.....................................................................................................................3
STP approach..........................................................................................................................5
Marketing mix for Build your dream venture........................................................................7
Task 2...............................................................................................................................................9
Innovation strategies of BYD energy.....................................................................................9
International marketing strategies of BYD energy...............................................................10
Conclusion.....................................................................................................................................12
REFERENCES..............................................................................................................................14

Introduction
BYD energy stands for build your dreams energy which is a high-tech company only
devoted towards technological innovation in order to bring in better life for people. The company
is aiming at building efficient and safe stable storage solutions of renewable energy is for the
world. The slogan of the company stands to be ‘New energy give us new future ‘. Company is
also aiming towards non-toxic energy with zero emission and zero pollution (Sahaf, 2019). This
is the main mission of BYD energy. Their core values stand to be excellence, passion,
pragmatism and innovation. Following report consist of strategic marketing as well as critical
evaluation of challenges to the successful strategic marketing for business. In order to do so
various models are used including Ansoff’s matrix, marketing mix and STP. The following
report also consist of various theories in order to examine different sector of market along with
the potential customer for the company. In the second part of the report a detailed description of
expansion of the company is mentioned. Basic two strategies including innovation strategy as
well as international marketing strategy which can be used by the company in order to
effectively expand their business is described in the following report.
TASK 1
ANSOFF matrix
It is a Framework which is used by the organisation for strategic planning for its different
functions in current market. It is a tool which provides a framework to the organisation which
can be used by the firm for its market device strategy and for achieving its future growth. This
matrix is also known as product of market expansion grid which is used by the organization's
strategic growth as well as achieve its goals and objective by implementing different business
strategy related to the products offered by the organisation within the market. This method was
developed by Igor Ansoff. The main aim of the author is to developer proper strategy which can
be used by the organisation to achieve its goals and objective. In relation to BYD, detailed
strategies within the ANSOFF matrix which can be used by the organisation for marketing and
achieving its goals and objective in a particular market will be discussed below:
Market penetration: This strategy can be adopted by the organisation to increase the sale
of existing products within the existing market. By adopting this strategy organisation can use
different kind of promotional and marketing tools which are helpful to the firm in implementing

its existing product within the existing market by increasing the market cover. BYD can use this
strategy to increase the sale of its existing product by help of decreasing the price to attract the
new customer and increasing the promotional and distribution effort by acquiring a competitor in
the same marketplace. This will directly help the organisation in increasing its channel of
distribution and increasing the market cover in the existing market for the existing products
related to renewable energy.
Product development: product development is also important strategy which can be used
by the organisation to achieve the maximum market share as well as increase its value within the
market. In relation to BYD, company can introduce new product within the existing markets so
that it can achieve a product specification within the market and can attract large number of
customers because of new and innovative ideas which are used by the organisation to introduce
the new product within the market (Farinloye, Adeola and Mogaji, 2020). All the strategy will
help the organisation in achieving its goals and objective and attracting a large number of
customers because of new and innovative products offered by the firm within the existing market
related to renewable energy. The strategies impactful for the organisation because developing
new product is it key to success for the firm within the existing market because it will attract
large number of customer as well as help firm in achieving its goals related to product
development. For this organisation can use a proper research and development within the
existing market so that it can launch a product which can easily compete with the products of
competitors and can attract large number of customers.
Market development: This is also effective strategy which promotes the marketing
activity of the organisation within the new market where firm can launch its existing product
within the new market to start market development. This kind of strategies impactful strategy for
the organisation because it help the firm in dealing with the new market where from the priority
technology that can leverage into the new market to the organisation as well as also identify the
potential customers within the new market which can be profitable for the firm because
consumer behaviour in new market can easily diverted toward the organisation by use of
innovative ideas and new product. In relation to BYD, organisation can also use market
development strategy because company is offering innovative products which are related to the
storage of renewable energy and the scope of the product offered by the organisation is
increasing continuously but for achieving maximum competitive advantage within this territory

organisation has to follow a different customer segment where entering into the new domestic
market must be analysed by the organisation by identification of policies and procedures within
the new market.
Diversification: Diversification is a risk strategy which impact directly on the
organisation because it involves entering within the new market by introduction of a new product
(Schiavone and Simoni, 2019). This is a risky strategy because the chances of failure within this
strategy are higher. In context of BYD, it can be seen that this strategy is not effective for the
firm because firm is dealing with in the products of renewable energy and by launching the
product within the new market can cause negative impact on the firm because new product
within the new market can react negatively and also require a huge cost on research and
development.
It can be seen that there are various strategies which can be adopted by the organisation
by the use of ANSOFF matrix but in relation to BYD, organisation has to choose a strategy
wisely which can help the firm in increasing its marketing function as well as achieving its goals
and objectives in an appropriate manner. So according to the product offered by the organisation
as well as different functions within the firm it can be seen that the most appropriate strategy for
the organisation is market penetration. This is because, it helps the organisation in easily
functioning within the market because there is no requirement of further research and
development which decrease the cost implemented on the marketing function as well as using the
tool related to promotion will easily increase the sale of the firm product.
STP approach
It is a Framework which consists of three stages for a marketing program of organisation
which are segmenting, targeting and positioning. it is a Framework summarise and simplify the
process of market segmentation and can be used by the organisation as a process which health
company in increasing the sale of its product as well as increasing the variety within the product
so that form can achieve its objectives related to different products. In relation to BYD, this
approach is discussed below where the different stages within this approach will be identified
that how organisation can use these stages in its own benefit for achieving the goals and
objectives related to the marketing of the product.
Market segmentation: It is the first time in this process where the organisation has to divide
its market into the small groups of customers so that it can identify the behaviour needs and

requirements of different customers and country marketing decision according to this (Pu, Gong
and Han, 2019). This help organisation in achieving its goals and objectives related to the
marketing where firm can divide its market in different segments. In relation to BYD,
organisation easily divides its market in segments which are discussed below:
 Geographical segmentation: In geographical segmentation the organisation will divide
the customer according to the region climate market density and market size. in relation
to the region organisation will use to focus on all four north south east west region so that
it can cover the whole area and maximum market (Melikuziev, 2020). BYD selling
renewable energy storage is so company will use both hot and cold climate where the
company can increase the sale of its product according to the climate. In relation to the
density and market size company will cover large populated area with large tower of
market size so that it can easily market its product.
 Demographic segmentation: In relation to graphics segmentation organisation will
focus on major point of age, lifestyle, gender and income. in relation to age group
lifestyle gender and income organisation will prefer the people between 20 to 40 age
group up who follow the modern lifestyle as well as the income of this group will also be
between $10,000 to $25,000. This is because companies selling storage for renewable
energy which require a huge amount of investment and it is impossible for the person
who are living within the income group of below 10000 dollar. This is the reason
organisation prepare a model lifestyle peoples you know about the complications within
the renewable energy resources and know how to use the storage so that they can manage
their work.
 Psychographic segmentation: In this segmentation organisation will target the beliefs of
the society related to the renewable energy sources where organisation will try to degrade
the myth related to the renewable sources of energy that they are not last for long period
and the energy cannot be stored for long period.
Targeting: Targeting involve the following the process of segmentation where
organisation will determine different markets and plant different activities to target the customer
which are segmented in the previous stage. Under the strategy organisation has to use different
media sources as well as marketing strategies which will help organisation in targeting the
customer by the help of identification of their behaviour within the market and using different

kind of promotional tools. In relation to BYD, organisation can use social media presence
because it is an effective tool which can be used by the organisation to target the market.
Because in current time there are a large number of users on the social media platforms which
can be used by the form to promote its product related to storage of renewable energy and can
achieve a large market cover by easily targeting different customers.
Positioning: It is positioning is the last stage in the process of STP way organisation has
to ensure that each and every individual who is targeted and segmented by the organisation in
previous stages will see the product of the organisation. This is because it helped company in
decreasing the market of its competitor and increasing the brand image within the market so that
it can easily position its products and achieve its goals and objectives (Cotterill, 2019).
It can be evaluated from above information that STP approach can be used by the
organisation to increase the effectiveness of its marketing programs so that it can achieve high
market share as well as easily implement the product of the organisation within the market for
achieving the goals and objectives. By using the answer of matrix and STP approach
organisation can easily gain a maximum competitive advantage which will helpful to the firm in
future success.
Marketing mix for Build your dream venture
It is said to be a foundation model for nay business. This model was earlier centred on 4
P’s which are Product, price, place and promotion but due to contemporary business
environment it has expanded to 7 in which People, physical evidence and process. This
framework is used by the companies to plan out their marketing strategies and make them a big
success. The marketing mix for Build your dream is as:
Attributes Analyses
Product Product is the item which the company has to offer for its sale. Here the
items are energy solutions by providing the innovative technology in that
field. Their product mission is to generate eco-friendly energy which emit
zero carbon or harmful gas into the environment.
Price It refers to the cost for that product which has been decided by the company.
As the technology is very much advanced and innovative, the prices
associated would also be quite high than normal. Prices for establishing the
power house at the field is also very high which only a few people can

afford it (Peter, Olson and Grunert, 1999).
Place The place refers to the location where the customers can avail or but their
products. The company has opened their offices or stores at couple of
places, also they have featured themselves at online platform where the
customers can pay a visit, can see the products which they can buy along
with their features and prices and can purchase the product. At site the
company also provides their contact details so that the customer can contact
them and can clear all their doubts.
Promotion For promotion purpose the company has come up with various advertising
and promotional activities through which they can educate the customers or
targeted group about their products and services. Apart from this the
company is also very active at social media sites where they can also
promote their products. These social media sites enable the company in
catching the huge mass of population as its scope and coverage is quite
large.
People The company Build your dream take into consideration about the needs and
problems of their employees. they know that the true asset for any company
are their employees only and to retain them into the organization they have
adopted various policies and cultures which keeps them motivated,
comfortable and healthy into the office environment.
Physical evidence The Build your dreams proves its physical evidence through their
promotional activities like catalogues, brochures, conduction of any public
event and etc. from these activities they prove their physical evidence into
the market (Walker and et al., 2006).
Process The process refers to the path for the direction which company follows to
deliver the product or services to their customers. To reduce the distance
between the customers and the company, they have opt the efficient path
and system which bridges the gap between the two at its minimum. The
company has adopted the post purchasing services or feedbacks also so that
they can be in touch with their customers.

Task 2
Innovation strategies of BYD energy
BYD is a company which has outlined the vision of the company to lead that innovation
and technological development in the automating of of China at the BYD dreams gala. BYD
have effectively introduced excellent intelligence connected with D-Link and the E platform
which will form a part of BYD.
BYD is using disruptive plan for innovation. It is related to technology and various sensors
and controllers which will be released in an open platform by the company. This will provide a
new way for smart driving development. BYD is believing that it will provide a global platform
for the company in order to develop electric vehicles when compare to various engine vehicles.
The company needs to make sure that they are paving a new era for bringing in history in
automotive section. They are using automobile for performance and various safety measures
before releasing their product. They need to make sure that they are prioritising technology and
also making sure that they are bringing a number of innovations which will be based on the
major strength of the company which is research and development for innovative business
model. There are a number of different comprehensive range of products which will be brought
in by the company including electronics, new energy, automotive as well as rail transit.
BYD is also venturing to produce zero emission energy solutions. It will effectively create
one of its world-class supply chains recruiting the best engineers and talent design management
which will help in expanding the business overseas. In order to do so the company has already
used a renowned German automaker Wolfgang Egger who will provide the design which will be
brought in the market by the company (Ndofirepi, Farinloye and Mogaji, 2020).
Below mentioned is the growth and expansion path for the company
The development path while bringing in innovation by the company consist of four different
stages. This will include growth positioning, directions as well as strategy of the company which
are mentioned below:
The first stage: The first and initial stage of the business will mainly consist of import and
export businesses of the basic parts which are produced by the company including battery
assembly and key battery parts. This is a small-scale business and will be single-handedly
managed by the company bringing in innovations.

The second stage: The second stage consist of rapid growth and expansion for the business. This
will be provided by making sure that the innovation brought in by company are expanding the
production of scale and also the product categories which are produced in the company. This will
help in bringing business profit as well (Hollensen, 2019). The company can set itself as the
largest producer of various innovative goods by effectively marketing them to the potential
customers.
The third stage: Third stage will include innovation in cross industries. It will help the company
in cross industry expansion. At this stage BYD can get various good opportunities to make sure
that they are entering into different industries and bringing innovations in those industry which
was never brought before. This is a great way of innovation as the company can expand their
business and also manage their portfolio.
The fourth stage: The fourth stage will include adjustment. In this stage it is required by
company to make sure that they are working towards innovation in the industry in which
maximum profit isn’t. They need to make sure that the industries which are bringing a loss for
the company should be shut down. It is also required to make sure that they are limiting their
marketing stuff and optimising the operational mode in order to enhance their organisational
structure and brand name. Various innovative measures are also required to be taken by company
in order to manage their talent.
In this way growth and expansion of the company can brought along with a number of
innovation strategies. It is required that the growth curve and innovation curve of the company is
a word which will represent that the expansion of the company along with the speed of
expansion. The growth rate at the first stage will be however slow and the accumulation of
growth will begin at the second stage. At third stage the growth rate along with innovations
protein will be high-speed which will start to deplete at fourth stage where the company will
need to bring in more innovations in order to make sure that they can manage the curve of
depleting growth rate of the company.
International marketing strategies of BYD energy
There are a number of different strategies which can be used by companies who are looking for
expanding their business in international market. It is necessary that the company is effectively
using the strategies according to their objectives and aims. Below mentioned are various

strategies which can be used by BYD energy in order to expand their business into international
market:
Franchising the brand: Franchising of a brand is working for the companies which have created
their own successful brand, which have business owners and who want to own branches at
different locations. It is my location for franchisees as they pay a certain fee and also some cut-
off the profit per year to the companies (Visconti, Peñaloza and Toulouse, 2020). BYD energy
can effectively use franchising in order to make sure that they are controlling the new markets in
which they are venturing their business. It will help them to build their brand reputation as well.
However it is often seen that due to franchising a number of companies have to compromise
which might lead to tamper the aims and objectives of the firm.
Direct exporting: Direct exporting is the most common type of international marketing which
company use. It is very simple as company can just market their products and break into new
countries. BYD can effectively use of exporting and export their products to various agents and
distributors in different countries.
Partnering up: partnering up is another type of international marketing plan which can be used
by BYD to venture into new countries. In this they can partner up with the companies which are
working in different countries in the same industry. This will help them to effectively understand
the markets and potential in the country they are expanding. It is necessary to get a good partner
so that they can grab the new market easily and they do not need to work upon research in the
new market as the existing company with whom they are partnering will already have the
knowledge of market.
Joint ventures: joint ventures refers to partnership between two companies or two people. They
usually invest in the same kind of project and the investment in the joint-venture will be equal by
both the company. It is also seen that the profits which is generated from the new company will
also be split equally between the joint ventures. In this the two companies who are working
together will stay separate but work together on some project. BYD can affectively work on
development of new electrical vehicles which they are developing with other companies bringing
in joint-venture with them (Chao and et. al., 2020).
Just buying a company: buying a company refers to buying out a company in the foreign market
which is already set up in the same industry through the help of which BYD can effectively
expand their business. Through this company can immediately claim the market share as well as

also gain the existing customer base and the brand image of the company they’re buying out. It is
often seen that in a number of countries the government regulations regarding newcomers are not
easy. With the help of buying a company BYD can effectively fulfil all the government
regulations which are required to venture into a new country. Whoever buying a new company
can be expensive for BYD but with proper investment company can effectively carry on
international marketing strategy of buying out a company.
Licensing: Licensing refers to a platform where BYD can talk to foreign firms and ask them to
on their products just temporarily. BYD can effectively fit in with the company’s inventory in
the new market all they need is to contact with the company and fulfil the requirements of
licensing. The benefits of licensing will be that BYD won’t lose the control of their product and
also the selling rights will remain with them. The licensing will be carried out only for a limited
amount of time.
With the help of all these above mentioned international marketing strategies BYD can
actively choose to expand in foreign markets. There are a number of innovations which the
company is looking for and foreign markets will be a correct platform to launch those
innovations. Expanding into foreign market will bring in more revenues as well as profits for the
firm enhancing their brand image globally.
Conclusion
With the help of the following report it can be concluded that there are a number of ways with
the help of which BYD can build its marketing strategy. The report explains how there are a
number of theories which can be used by a firm in order to create a proper marketing strategy. In
order to stay in the market today it is required to bring in innovation by companies. The
importance of innovation as well as in international marketing strategy which is needed to be
chosen by the company in order to expand their business is also explain.

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