DETAILED DESCRIPTION OF ASSESSMENT
This assessment links directly with assessments 3A and 3B. Figure 13.1 from Sharp (2017) is presented below, which outlines the marketing planning process.Your task will be to complete:
In other words, you will be writing an overall marketing plan for a product or service, in stages that are interconnected. The product you will need to write a marketing plan for will be outlined in the VU Collaborate space. Generally the product will be a new product that is seeking funding through a crowdfunding website such as www.indiegogo.com .
Your task in this particular assessment is to write a simple macro environmental analysis as part of an overall marketing plan. It should be approximately 500 words in length around 2 A4 pages. You may use tables to present the different elements of a macro environmental analysis.
You may wish to refer to Chapter 13 of Sharp (2013) for more detailed information on marketing planning, in particular Table 13.1 suggests a structure for a marketing plan.
In addition, specifically relating to the Macro Environmental Analysis for this assessment, you may wish to refer to page 214 onwards of Sharp (2013).
The point of a diagnostic assessment is to give students an early assessment with feedback to identify students who are at risk of not achieving a pass in the unit. This assessment will allow your lecturer to work with you and provide early feedback that you can take on board for later assignments. If necessary you may be referred to the Learning Hub centre on your campus for further help.
While the assessment asks you for your opinion, your arguments need to be supported with reliable sources of information. It is expected that you will cite at least 4 references using the Harvard Referencing System (if you are not familiar with this system, simply put “Harvard Referencing System” into a search engine). Sources that can be used, for example, include the textbook and refereed journal articles. Please refrain from using internet sources like essay.com. marketing.com, seminar slides, dictionaries, about.com. In addition, at VU copying from a source without proper acknowledgement is severely penalised as leaving paragraphs and sentences without a citation.
As a key aim of this task is for lecturers to see the strengths and possible areas of improvement with your academic writing, you should strive to write in as clear a manner as possible, using well-constructed paragraphs, and avoiding bullet points, incomplete sentences, or overly formal or informal language.
Macro Environmental Analysis
Considering the rising demand of electric cars and with increasing fuel costs, it seems that organizations in the automobile industry have ample amount of opportunities to manufacture electric car. However, there is a need to conduct macro environmental analysis to determine the factors that can not only impact on the marketing plan but also on the overall marketing strategies of the organization (Lutz, Kemp, & Dijkstra, 2010).
For macro environmental purpose, this paper will conduct PESTEL analysis to determine the impacts of political, economic, social, technological, environmental, and legal factors on the marketing strategies of the organization. To begin with the political factors, the government and other legal authorities have already allowed access to the automobile companies to start the production of electric cars (Lutz, Kemp, & Dijkstra, 2010). Also, they are supporting investment in the infrastructure so that it becomes easy for the users of these cars to conduct charging at public places.
The government is also planning to provide subsidies up to £5,000 for the buyers of electric cars to motivate them to buy these cars and thereby contribute in reducing overall pollution. The government of other nations has decided to exempt them from road taxation as they will be producing less than 100mg of carbon dioxide per kilometer.
Second, from the economic perspective, these cars will save money on fuel and other such charges. As consumers are more concerned about their budget on transportation, the price issue will be solved. Also, post 2009 recession, consumers are looking to buy new car models for their regular transportation purpose (Ahlbrecht & Eckert, 2013). The decreasing battery costs and decreasing renewable energy costs should motivate people and the company to look out for these options.
Further, from the social factor perspective, the increasing popularity of low-carbon lifestyle will help in increasing the sales for these cars. Second, it will improve wealth distribution levels in the developing markets of the world. People of the age group 45-60 years want to switch to such car models considering the change in the social trends in the market. Also, majority of the population are now turning carbon conscious and want to contribute in reducing pollution at individual level (Fang & Rogerson, 2011). This increasing popularity of environmental-friendliness will help in increasing the buyers of these electric cars.
From the technological perspective, these cars still lack the necessary infrastructure that could assist in boosting the sales of the organization. The increasing popularity of online systems has raised awareness among the customers (Fang & Rogerson, 2011). However, there is also a need to develop necessary infrastructure to support the movement of these cars in a given location or region.
From the environmental perspective, climate change will turn out to be one of the major factors to purchase these cars. With increasing pollution, people have become aware of using renewable sources of energy (Murray, Ju, & Gao, 2012). The expanding environmental programs and rising standards on waste disposal will make the people of the community to think over the usage of these cars. However, it is important for the automobile manufactures to deploy appropriate marketing strategies that will highlight this factor; it will subsequently help in increasing the sales for the organization.
Finally, from the legal perspective, companies might face threats from competition as several players in this market are looking for patent protection. Also, these companies need to follow the norms of energy consumption. They need to adhere to the environmental regulations and also make the users aware of this issue. Only then it will make the users motivate to purchase these cars and subsequently utilize them in their daily transportation usage.
After conducting this macro environmental analysis, it seems that the organization needs to analyze each of these factors and accordingly implement marketing strategies to overcome the challenges. Only then they will be able to achieve desired sales targets of the given organization.