Business Analysis: Solar Powered Electric Vehicle Battery Marketing

This report provides a comprehensive analysis of a proposed business venture centered around solar-powered electric vehicle (EV) batteries. It begins with an introduction to the concept and highlights the benefits of this technology, focusing on the ability to charge batteries directly from sunlight, even while the vehicle is in motion. A SWOT analysis is conducted to evaluate the strengths, weaknesses, opportunities, and threats associated with the business. The report then delves into the competitive landscape, assessing the threats of new entrants, substitutes, and the bargaining power of buyers and suppliers. The marketing strategy includes the product, pricing, place, and promotion, along with the target market, which is identified as electric vehicle companies. The report also outlines the company's vision, mission, and objectives, including achieving a break-even point and capturing market share. The marketing mix is discussed in detail, covering product features, cost-based pricing strategies, and the importance of direct supply to EV companies. This report provides a solid foundation for understanding the potential and challenges associated with this innovative business idea.

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.

Speakers Notes
Introduction
The same technology is used in while developing this battery which is used at EV charging infrastructure. Company use solar power for charging their EV’s.
Mission- To become the number one business in UK which provide solar powered Vehicle.
Objectives- To achieve break-even point by 2021 and develop 15% market share by 2022
Competition and competitive advantage
Threats of substitute- In context of solar power electric battery the force of this factor is high this is because conventional batteries are the biggest substitute of
this product.
Bargaining power of buyers- This factor has medium force on business as company has limited number of customers so the customers have more power to
influence the price of product.
Bargaining power of supplier- This factor has low force on business as business use all resources are easily available.
Industry rivalry- This factor has a strong impact on business.
Target market
Target customers of selected product is the electric vehicle company who can use solar battery in their vehicles.
Marketing strategy
Place- Business supply the product directly to the electric vehicles company.
Promotion- It will be done by considering the target market of company.