Marketing plan for Waka

Topics: Marketing, Solar power, Photovoltaics Pages: 6 (3206 words) Published: November 1, 2014

1.0 EXECUTIVE SUMMARY
WakaWaka develops, manufactures and markets high-tech low-cost solar powered lamps and chargers in the developing world and in developed markets. The company was founded in 2010 by Maurits Groen and Camille van Gestel and just 2 years later the first WakaWaka light was produced. The light design was inspired by an idea from Frans Biegstraaten & Rik Wuts from the high tech solar company Intivation years later WakaWaka went into production. WakaWaka business model is “an impact driven, social venture that fights to abolish energy poverty throughout the world. We are committed to our sustainable business model that makes the distribution of renewable energy-based lighting easy and cost-effective. In essence we operate as any other business, but proceeds made from selling WakaWaka products at competitive prices are used to make them available to off-grid communities around the world at an affordable rate”

Below, we have identified the opportunities and threats in the market, as well as our particular strengths and weaknesses that will enable us to succeed:

Key Strengths
WakaWaka light is twice as efficient as any other solar lamp on the market Supported and backed by high profile organizations (Clinton Foundation) Main Weakness:
Funding is required for initial start up and ongoing purchases of devices from manufacturer. Key Opportunity:
Indian market is currently under-marketed so we see a great potential for expansion in India Main Threat:
A number of competitors offering similar and or cheaper solutions 2.0 Situation Analysis
2.1: MARKET SUMMARY
As far back as the 18th Century scientists and the best minds of that time were looking to harness the power of the sun but it wasn’t until the 20th century that companies were able to truly capture the benefits of solar power. For the last eight years, the solar industry has experienced annual growth of over 40%. Robust capital investment, coupled with the rising cost of conventional energy, has cemented solar energy’s future as a viable mainstream power source. The world’s solar industry continues to thrive, posting sustained annual growth of over 40 percent. Concerns over the rising cost of conventional energy are driving robust capital investment in solar energy, enabling the technological breakthroughs that will cement its future as a viable mainstream power source. The chart above shows the photovoltaic growth over the last 7 years. It is this growth in capacity of the PV cells that partly justifies Waka Waka and this marketing plan. Prior to 2007 there would not have been enough power stored in personal solar powered devices to benefit consumers but today, with advancements in technology, the use of solar power for off-grid individuals is a reality. Just as the spread of mobile phones in poor countries has transformed lives and boosted economic activity, solar lighting is poised to improve incomes, educational attainment and health across the developing world. It is these improvements that Waka Waka seeks to be at the forefront of. 2.1.1: MARKET DEMOGRAPHICS

TARGET MARKET SEGMENT STRATEGY
The 3 tier marketing strategy has been defined following a review of the customer need for portable solar power devices as well as considering the structural factors that would need to be considered before embarking on the 3 tier approach. STRUCTURAL FACTORS (Porters 5 Forces)

Particular market forces affect the ability of Waka Waka to succeed. These forces are identified below: Buying Power of Customers – Medium - Low
Customers obviously have power over purchasing decision and whether they will decide to buy the Waka Waka or not and while the threat of this in the Western world would be medium to high the fact that there is over 1.4 billion people (400m of these in India and 590m in Africa) ample potential demand for the Waka Waka device. Africa has the lowest electrification rate of all global regions i.e. 26% of households (and an even...
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