Phone Fuel Product Marketing Plan

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Table of Contents

Strengths
Weaknesses
Opportunities
Threats
Trends
Works Cited

The phone fuel is an advanced charging device that is used to charge the iPod, iPhone as well as android smart phones in just a few minutes. This device is brought in the market for the benefit of numerous phone users to provide a quick solution for charging their phones (McDonald & Malcolm 12). There are strategic market planning steps that ought to be taken to ensure efficiency in both marketing and demand of this product. Some of the most important issues while coming up with a good marketing plan for the phone fuel are the SWOTT and Porter’s five analysis.

SWOTT simply means the evaluation of a product’s strengths, weaknesses, opportunities, threats and trends. This helps in developing unbeatable plan because it is established through market research.

This product charges for only ten to fifteen minutes, unlike other chargers. It is portable, sleek and easy to operate. The product’s other benefit is that it has different shapes such as rectangle, square, circle and strip matching various preferences. This is suitable for the mobile people who needs frequent charging, over the ordinary chargers that must be connected to some source of power.

The weakness of the phone fuel is the fact that it is not familiar in the market and so thorough marketing is required in order for it to be embraced. Moreover, the device must be sold at a higher price due to its high quality, resulting to less demand for people who are not economical. This kind of charger is compatible to limited phones which means that it will only be bought by the few who bears the iPhone and android.

The phone fuel brings solutions of inaccessibility of power in the rural areas and other remote places. Charging is made available for the laptops that are used to extract certain information for business deals and proposals, for academic purposes, among other numerous uses.

This product will take advantage of the daily engagements of people in the urban area by creating shorter time for charging and portability. The awareness in the rural and urban areas will bring great sales to the company, with increasing demand. The company needs to keep advancing its technology to ensure sustainability of the product in the market (Gookin & Dan 10). Moreover, the existence of this product may cause the economic stagnation or drag because this is an automatic and faster tool. More so, it may bring about unemployment in other companies as their business goes down. The other chargers and battery chargers are likely to lack significance if the entire population in the market embraces this product (Kakaç and Vasilev 15).

Strengths

The structure of phone fuel is a business to business. The company’s major target includes universities and colleges, shopping malls, and coffee and snack shops among others all through the United States of America.

Weaknesses

The phone fuel major weakness is that it needs to be recharged occasionally. Therefore, it becomes challenging for the people who can hardly access power supply.

Opportunities

The company has plans to produce larger and bigger charging pads that can charge laptops. This is in efforts to expand the business to the extent of doing business with offices. Further, the business seeks to do business with individuals in the near future. This will increase the sales of the company.

Threats

The company faces stiff competition from companies producing phones with longer battery life such as apple iPhone and Samsung iPods.
The company is also threatened by the high rate of change in the technology world.
There are also possibilities that the phone fuel may run out of time soon.

Trends

With the current trends in the technology market, people are embracing the innovations the more.
More people are purchasing mobile gadgets such as tablets and cell phones every day. This predicts a bright future for the phone fuel business. This is indication that there is going to be a high demand on the phone fuel chargers.

In consideration of the porter five analyses, it is important to explore the market of chargers so that the marketer may realize specific items that are on the lead. The product will be in a higher position than the current products in market. The pricing strategy is reasonable (Zhao 16). The company intends to advertize the product through the tech magazines, subways, conventions, trade journals, amusement parks, schools, and offices.

There are no possibilities of new entrants in the market in the near future. This gives the product a lead in the instant phone charging (Zhao 16). This is a clear indication that the product is not to face high competition in the industry upon its launching.
Therefore, the fact that there are no competitors in the market the suppliers has a high bargaining power.
The threat of substitution is also low because of old charging systems in the market such ordinary chargers.
The buyers’ bargaining power is relatively low. This is because there are no other similar products in the market.

Conclusively, it is important to make a market plan for the product ready to get into the market. It is advisable to use a strategic market planning using the SWOTT, which describes the strengths, the weakness, opportunities, threats and trends of the phone fuel charger. The Porter five policies are also helpful in evaluating the customers, suppliers, current and future competitors, the company, and regulatory environment.

Works Cited

Behling, Noriko. Fuel cells: current technology challenges and future research needs. Burlington: Elsevier Science, 2012. Web.

Gookin, Dan. Laptops for dummies. Hoboken, NJ: Wiley, 2013. Print.

Kakaç, S. A., and Vasilev, L. L. Mini-micro fuel cells: fundamentals and applications. Dordrecht: Springer, 2008. Print.

McDonald, Malcolm. Marketing plans: how to prepare them, how to use them. chichester: Wiley, 2011. Print.

Zhao, T. S. Micro fuel cells: principles and applications. Burlington: Academic Press, Elsevier, 2009. Print.

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