Strategic Marketing Analysis of BYD Energy: Growth and Competition

This report provides a strategic marketing analysis of BYD (Build Your Dream) company, a high-tech organization focused on technological innovation for a better life. The analysis includes an examination of the company's mission, vision, directional and growth strategies using the Ansoff Matrix, and competitive benefits through the Resource-Based View. It identifies and analyzes two main competitors, Tesla and Samsung SDI, using the competitor portfolio model, and performs a critical customer analysis. Furthermore, the report explores international marketing and relationship strategies, considering potential future challenges for the company. The report concludes by highlighting the importance of market development strategy for BYD Energy due to its lower risk and high potential for increasing market share and profits.

Marketing

Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Examine the mission, vision and directional and growth strategies, competitive benefits and
competences...........................................................................................................................1
Examine two main competitors..............................................................................................5
Critical customer analysis.......................................................................................................6
PART 2............................................................................................................................................8
Examine two main topics- international marketing strategies and relationship strategies.....8
Consider the challenges that might be faced by the company in future...............................10
CONCLUSION..............................................................................................................................11
References:.....................................................................................................................................12

INTRODUCTION
Strategic marketing is defined as the way or method under which a business organisation
present itself as different from its competitors by spending on the strength of firm. It help the
management in creating the higher value of organisation in front of its customers as compared to
the other players in the market. Strategic marketing is consider as the procedure of doing
research along with setting the goals and objectives which help in boosting the growth and
success of all the strategies of marketing. It has been found as beneficial for the business
organisations because it adds more intentional with the marketing. It helps the firm in assessing
the targeting the right customers and choosing the correct medium or channel of entering in the
new market (Buccieri, Javalgi and Gross, 2021). The selected organisation for this report is BYD
(Build Your Dream) company which is a high tech organisation with the dedication of
technological innovation. For the purpose of serving better life. The main objective of the
respective organisation is to to develop safe, efficient and stable storage solutions for renewable
energy. It is found as well known organisation which works for providing zero emission energy
solutions. BYD company is providing several products and services in the business such as
battery box with both low as well as high voltage for both commercial as well as residential
purpose around the world. This report is classified into two different parts. First part include the
discussion of situational analysis, examination of company, customers, competition,
collaboration along with the context. Second part of the same report deals with the analysation
of several strategic options which the organisation can use. In addition to this, it also include the
models, theories or concepts relateed to the several terms.
PART 1
Examine the mission, vision and directional and growth strategies, competitive benefits and
competences.
About the Company
BYD company is found as the one of the well known organisation in the industry of
technology. Its major objective is to serve the customers with the several products and services
which are really beneficial for the both residential as well as commercial uses (Alsem, 2019).
The products of this company are made for the purpose of decreasing the negative impact on
environment as the products are made of zero emissions energy solutions. It also cover the
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battery box which is available in low and high voltage, large scale battery projects in various
countries or regions.
Vision: To become the organisation which produce clean and renewable energy by providing the
sustainable energy solution through the use of technologies and bringing innovation by focusing
on fulfilling the social responsibilities of organisation.
Mission: To provide non-toxic energy solutions with zero pollution and zero emission.
Objectives: The primal aim is to form stabilized, efficient as well as risk-free retention mixture
for renewable energy.
Directional and Growth strategies- Ansoff Matrix
Through the use of Ansoff model, the marketing leaders can know about the growth
opportunities of their business for their marketing strategies in the challenging market. It is also
defined as a matrix which present four major strategies through which a business organisation
can grow or develop the business unit in significant manner (Chatterjee and et. al., 2021). It also
help the management of firm in knowing about the risks related to each and every strategy.
Below mentioned is the brief description of the respective model in the context of BYD energy:
 Market Penetration: It is defined as the strategy under which the business
organisation wants to increase the sales of their existing products and services in the
existing market. In simple words, it can be said that the it is the position in which the
organisation wants to improve the market share dealing with the same products and
services. The BYD energy can sell its products and services to the customers on the
low prices as compared to their competitors along with focusing on the several
promotional and distribution practices.
 Product Development: By using this strategy, the business organisation can introduce
more new features in their existing products and then present the product in the
existing market. It will create the interest of people in the products along with
avoiding the boredom (Farahani, Nasirzadeh and Esmaeili, 2019). Through this
strategy, the company can add some innovation for the purpose of fulfilling the
demand and needs of customers. BYD energy have opportunity to focus on the use of
natural resources which help the organisation in refilling for replacing the part
exhaustedly usage and consumption. Through the use of natural resources, the
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business organisation can produce energy which include tides, geothermal heat, wind,
sunlight and many more.
 Market Development: Under the strategy of market development, business firm wants
to expand their operations in the new market with the existing products and services.
The chances of success is higher by applying this strategy because it the respective
business organisation is performing very well in the existing market and taking the
successful products in the new market help the organisation in gaining success in the
new market. It plays an important role in gaining the new market share in an effective
and efficient way. BYD energy has the opportunities to expand their business in
national and international market by focusing on the new segment of customers.
 Diversification: It is the most risky strategy which is being adopted by the business
organisation. As per this strategy, the business organisation wants to expand their
business in the new market through the new products and services (Goswami and
Sinha, 2019). The business firm involve take the new products and services to the new
market which involve huge amount of risk. Availability of higher risk also involve the
higher chances of boosting revenue.
After analysing all the above strategies, market development strategy is found as the best
strategy for BYD energy because it involve less risk along with the high possibilities of
increasing the market share which help the business organisation in earning higher profits. In
addition to this, the respective business organisation is performing very well in the current
market which enhance the chances of earning higher profits along with improving the market
share.
Resource Based View
Resource Based View is consider as the important concept which help the business
organisation in attaining the advantage of competition. It state that the business firm must look in
the internal side of organisation ton which help in recognizing the competitive advantage sources
rather than making focus on the competitive environment.
Resource: This source involve organisational attributes, information and knowledge,
capabilities, organisational process and many more.
 Tangible Assets: These are the assets which involve those assets which can be seen
and touched. Majorly, it include equipments, owner's capital, machinery, firm's
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property and many more. These assets are being used in the target market for the
purpose of gaining higher advantages.
 Intangible assets: Reputation, brand image, trademark and intellectual property are
considered as the important intangible assets (Kearney, 2019). These assets are found
inside the organisation and it act as the main source of sustainable competitive
benefits.
Key Components of RBV Model: Valuable: It refers to the resources which introduce values to the business organisation
in order to gain the benefits of competition. Employees are consider as the valuable
assets in the business organisation as the efforts of the employees help the business to
attain the desired goals and objectives. The firm can ensure its engagement in the
several projects, the firm have to use financial resources. Hence, financial resources are
also consider as the valuable resources. In order to gain the competitive advantages,
supply chain management has its essential role. Rare: Such resources are being used to bring some differentiation in comparison with
competitors. Employees of organisation are consider as the rare resources because the
management have to provide several training sessions to their employees in order to
work on their skills and abilities of working. Financial resources are the rare resources
as it is very difficult for the firm to mange the reasonable finance for operating business
activities. Several of business organisations are focusing on their distribution channel, it
state that the supply chain management is not a rare resource (Ketron and Mai, 2022). Inimitable: It refers to the resources which help the firm in gaining sustained
competitive advantages, in the case when the other competitor are not able to attain
them. Employees are imitable because they can be hired by the other competitors as
well. Financial resources are not consider as the imitable resources because it is very
difficult for the competitive firms to survive in the market with the low financial
position.
 Non-substitutional: Resources must not be arranged through any other considerateness
same valuable resources. The employees of organisation can be replaced with the other
higher skilled and experienced employees. Hence, they are not consider as the non-
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substitutional resources. The best example of non-substitutional resource is its brand
image because it can not be replaced with any other competitors.
Examine two main competitors.
The business in which BYD energy works is very competitive, with large firms and market
analysts predicting huge future growth. There has been a huge focus on companies to engineer
and develop clean energy solutions for every aspect of life so that the devastating environmental
effects that the human race has inflicted on our planet in the name of technological advancement
can be avoided. This has resulted in major developments such as the mass arrival of electric
vehicles and solar-powered innovations that are both cheaper and more sustainable. The
competitor portfolio model is used to describe certain competitors operating in the same market
as BYD energy.
Competitor Portfolio of Tesla
Background: Tesla was founded in 2003 by a group of engineers who wanted to make a
difference through fully electric offerings. Tesla has come a very long way since then, and is
now a market leader in EVs in numerous nations, as well as an industrial harbinger when it
comes to developing future clean energy solutions (Kim and et. al., 2021). The company's
mission is to create cutting-edge technology that is simple to use and contributes to a cleaner,
more futuristic environment.
 Products: Tesla's primary market offering is still luxury electric cars, with premium and
fan favourite models like the Model S and Model 3, but the company has expanded and
been providing exceptionally high quality products in the solar energy segment, with
products like solar panel installation and the power cell, an innovative battery that acts as
a generator without making any noise or burning any fuel.
 Strategy: The strategy of Tesla includes a variety of tactics, including digital marketing, a
viral referral system that allows the company to engage in word-of-mouth marketing, and
social media marketing campaigns led by its eccentric CEO, Elon Musk..
 Positioning: Tesla is a market leader in both the clean energy and electronic vehicle
segments, thanks to its strong positioning in which it emphasises that it sells technology
and the future alongside its cars, and its customers flock to the brand for the promise of
unrivalled luxury in driving, as evidenced by its extravagant advertisements.
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Competitor Portfolio of Samsung SDI
 Background: It is a Korean firm that is a subsidiary of Samsung Electronics, a massive
multinational conglomerate. It focuses on renewable energy solutions and component
production for Samsung and other brands' significant market offerings.
 Products: Samsung SDI offers a wide range of solutions that address a variety of market
sectors, including small-scale recyclable batteries, smart storage choices, and specific
batteries for electric cars.
 Strategy: The brand's strategy is directly inherited from its parent firm, as it emphasises
the fact that its products are futuristic and have no environmental impact, as well as
focusing equally on B2B and B2C models, as most of its items have many commercial
applications.
 Positioning – The company's global standing is quite solid, as several of its items have
received critical acclaim (Ko and et. al., 2020). The company has a lofty goal of making
all of its product lines totally sustainable, and it aspires to function as a fully green
company that assists in the delivery of environmentally friendly components to other
businesses and customers.
Critical customer analysis.
It has been found as essential to analyse their target market in an effective and efficient
manner in order to develop the effective market strategies which can help the organisation in
gaining higher customer base along with the impressive development. BYD Energy's global
customer base is quite diverse and spread out, as it has expanded in multiple countries such as
the United Kingdom, the United States of America, and Singapore, to name a few, and as a
market leader in clean energy solutions and battery manufacturing, it must invest in detailed
market research to properly cater to its multiple customer segments. The STP model, which is a
strategic management technique for identifying, targeting, and correctly advertising goods and
services to the target audience of business, is used to describe a holistic perspective of the
company's customers.
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 Segmentation– For simplicity of marketing and strategic focus on the desired customers
who match the product value being supplied by the firm, market segmentation entails
splitting the large target audience on the basis of several characteristics. BYD Energy
splits the population by age and income.
 Targeting– The youth and people between the ages of 20 and 50 are the customers
targeted by the company's promotional drives and marketing campaigns, as this market
segment is not only environmentally conscious, but also interested in owning and
displaying futuristic and expensive-looking goods, which BYD does offer. Most clean
and sustainable items are currently experiencing a price increase to recover from COVID-
19 losses, so the company also targets consumers with higher income levels.
 Positioning: It is the step in which the creation of position of the firms within the
marketplaces (Lim, Jee and De Run, 2020). During the case of BYD, as the company is
building the high market position in the market as it cause, it rises the overall business in
the international market. This is being recommended to the given organisation that they
must advertise the goods and services by which the respective customer can get the
knowledge related to the commodities and services, they are being indulging with the low
prices in comparison to its rivals which help them to improve the overall image of the
company.
Customer behaviour and trend analysis
In context to energy industry, there are certain trends and the factors which are impacting
the customer, organisation that are being offering goods and services to them and there are some
of the trends of the market are given below:
 Internet of energy: Internet is being exploited for different purpose which is being
gained by the business with the aim of ensuring increasing profitability and productivity
of the company. For example, BYDRO is platform which used for links energy
developers, investors and the customers all on the same hand. This also help the
company to assess the needs of the customers for the products by which organisation can
fix the energy amount appropriately.
 Renewable energy: Moreover, moving to the renewable energy, this will helps the
company to avoid the surroundings from the impactful aspect which are carbon. Infusing
energy with the natural resources that includes the wind, water, sun and these are comes
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under the renewable resources. In context to BYD, They are basically generating more
success with the help of renewable sources.
 Vehicles to grids: This is the system in that EV's trade energy in consideration to the
demand either by reverting the energy to the grid or by minimising the rate of change.
When the EV batteries lately revert the energy to the grid with the help of charging
stations (Yiliang, Chelliah and Teoh, 2021).
PART 2
Examine two main topics- international marketing strategies and relationship strategies.
International marketing:
International marketing is the concept in which the various business understand the
methods which exploited to the certain goods and services in various nations. As the global
marketing strategies involves the countries from certain sections of the world as while aiming
for having the effective efforts of marketing in the given marketplace. These can be in the way
of importing or exporting, licensing, franchising and online sales. International marketing
strategies needs to be appreciable investment in certain resources, employees, money by which
they can identify and understand the diverse market (Moriuchi and et. al., 2021). Country,
culture, tradition and so on. In relation to BYD Company, they can emphasis on various
strategies of global marketing that are helpful for their better business. There are some of the
tactics are given below:
Understand the cultural differences: when the company is analysing the branding
around the world then-it vital for the company to make some research on international
marketing on any sentence, words ad phrases in that particular nation. There are various nations
which are using certain language for their communication with each other. Thus, in order to have
the better knowledge related to the goods and services, this is vital for the company to conduct
the research on the language by which the customer can better know the particular offerings of
the company. Moreover, the particular language do not hurt the individual's emotion of the
masses as if the company is expressing something and it get hurt by the thoughts of the
consumer. As the improper brand name in various linguistic or cultural milieu n leads to have
major impact and harm the company and its overall marketing practices in the different parts of
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the nation. Then it must take the help of the researchers by which they can eliminate the
language barrier in the process of marketing.
Advertisements: This is being known that the powerful marketing tool which leads to
full fill the dream of the company and leads to have higher sales is advertising he goods with the
help of certain channels and means. They are basically putting their words for selling their
product and services with the help of radio channels, poster or internet channels that are twitter,
Facebook and so on which are helping the company to build their customer (Pham and et. al.,
2019). In relation to BYD, if the firms want to expand its business in the global market then they
target the masses and also offer the certain offering with the help of website, emails so that they
can rightly make their new customers and they share the knowledge related to the goods and
services.
Price promotions: an organisation can rightly advertise their products and services in the
large market is using certain promotional tools by which they can increase their overall
profitability and sales by giving some trial to the customers or by offering the discount on
products. Freebie is the well known which help in increasing the overall sales of goods &
services (Whitler, 2021). In relation to BYD, they can offer the goods in reasonable prices or
the fair prices by which they can gain the customer retention. Customer always want to get their
products & services that are battery box at affordable amount as this leads to have to become
essential for any residential or commercial areas
Relationship Strategies:
Relationship marketing is defined as the efforts of the company in order to make the
long-term relationship with the customers with an intent so that they can engage them for longer
period of time. Moreover, company offers variety of products and pass judgements on the merits
of the company , their experience for getting the first purchase. When the buyer do not satisfy
then it clearly got the change that the customer will repeat its purchasing on certain things. In
context to this, BYD Company is having the following relationship strategies with marketing
which are helpful for them and these are given below:
Prioritize customer services in the relationship marketing strategies: As the name suggest,
relationship marketing is connecting all the customer positively which basically focuses on the
personal support of the buyer which is completely related to the concern or the issues
(Rooijackers, 2020). This is based on the understanding the needs and wants of the buyer while
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they are ensuing the individual who are operating at the help desk must be friendly. In relation to
BYD, when the consumer is coming to the particular company while they are telling their
problem with the use or the repairing of the equipment. It is the duty of the person who is
assisting the customer to clear their doubts or resolve their queries by which customer do not
misguided at any of the point.
 Email marketing: It is important for the company to retain their customer information
supports and convey the mailers on regular basis about the new products and services,
new launches, exclusive offers, clarification, so Email is the appropriate tool which help
the company to send the related information in bigger number of their target customers.
Mail-chimp s one of the appropriate tool which help the company to send the given
information to the bigger number of customer without being spammed.
 Social media for relationship marketing: Nowadays, social media platform has
emerged to share the given information with their clients while there are having new
customers as well (Vululleh, 2020). LinkedIn, Twitter, Facebook, Google and so on can
rightly exploited for the objective of promotion. In context to BYD, it is vital for the
organisation to create their corporate accounts that includes the LinkedIn, Facebook as
they basically focuses on the information given on the platform to cater the information
which is related to the new products development or the innovation by which the
customer would know about the offerings of the brand.
Consider the challenges that might be faced by the company in future.
There are emerging challenges which are being faced by the BYD company, although
these are the certain products and services with developing techniques and leads to create and
the upcoming look get for the tech companies (Stewart and Morgan, 2020). As the forthcoming
time is given to cater some of the innovative new opportunities for the business that includes the
BYD and there are some of the implementation and changes which might faced and business
must be aware of it. In consideration to BYD, certain challenges are given below:
 Adapting to consumer changes: This is the major challenge which is commonly faced
by the company. In today's time, there is full of challenge, dynamics, technical teams
which are being faced during obstacles in the given commodities and services, timelines,
budgets and dynamics. In context to BYD company, it is the major difficulty of the
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