MKT00075 Marketing Principles: The Market of Solar Bus
Topic: Solar Bus
Answer:
Solar bus
Solar bus can simply be said as a bus that is powered by the use of solar energy. The market of solar bus is huge and it is easy to be ventured in basing that it has so many opportunities.
Environmental analysis
There are both macro and micro environmental factors that suit the business to have faster growth (Grünig, 2017). The future of the solar bus is bright and with many endeavors that can be developed to allow for its success.
PESTE analysis
Political abilities makes the solar bus a business to venture into. Having the support from all the governments, it is simple for it to have a success. Many nations are having the approach of getting into renewable sources of energy which actually is legal as per the environmental rules (Anton, 2015). This makes solar bus on the advantage of having a faster growth.
Economic capabilities makes the business a notch to be ventured to in the long run. There are finances from all directions starting from nations all the way to some of the non-governmental sectors. They are all aimed at the development of renewable sources of energy and do away with use of oil.
Socio-cultural factors makes it possible for the development of solar bus business. All the people in the societies are up to the saving the environment (Yan, 2015). Solar Buses is in the side of reduction of global warming which is the main aim of most of the people, so the introduction of the solar bus will be a success.
Technological factor is one of the most fundamental capability in the development of solar bus. Technology has developed to a better place and there is no difficulty in the implementation of the business.
Ecological factors of the development of solar bus. There is no disturbance of the living organism and even human beings in the use of solar energy. It is a renewable source of energy.
Competition
Solar bus faces direct competition from electric cars and buses. It is their main competitor where most of the people have had experience with. The use of solar has not seemed to have great impact to most people of the society. It has a higher market size due to the time in which it had its entry as well as its market share. The main competitive advantage that the solar bus has is the fact that it is totally free. Solar energy does not need to be paid for as compared to the electricity.
Suppliers and intermediaries
Solar bus does not need suppliers except during manufacturing. The supplier of the bus is the sun which is freely available.
SWOT analysis
Solar bus has an internal strength of having capable employees. The personnel in the industry are perfect and provide quality work which is up to the standards. This means that labor is freely available.
The weakness that the business has is the uncooperative stakeholders. Majorly the sponsors of the business majorly those who fund the manufacturing are not cooperative. Their donations are not consistent and fund for a while and leave it at a point. This has been brought in by the unstable management inside the solar bus committee who keep on having issues amongst themselves.
The business has opportunities all over where the use of solar is being encouraged all over the world. Opportunities are from all corners which include governments and the society at large (Hasan, 2016). There is a chance of much growth of the business in a large perspective.
The solar bus has threats from the other motor vehicle departments. There is the adaptability of the wind as a source of some motion power. This gets the business in another direction where they have to keep up with the competition. People will have a realization of the usability of the wind power which is actually a negative sign for the solar bus. For this case, all the strengths within the business can be utilized in bringing together the opportunities and making the weaknesses in their positive side.
References
Anton, R., 2015. An Integrated Strategy Framework (ISF) for Combining Porter's 5-Forces, Diamond, PESTEL, and SWOT Analysis.
Grünig, R. and Morschett, D., 2017. Determining the Target Markets. In Developing International Strategies (pp. 85-104). Springer, Berlin, Heidelberg.
Hasan, M.M., 2016. Marketing Analysis of Fila. Total Quality Management, 11, p.13.
Yan, Jinming, Fangzhou Xia, and Helen XH Bao. "Strategic planning framework for land consolidation in China: a top-lev
design based on SWOT analysis." Habitat International 48 (2015): 46-54.
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