Ajaz Baig M Salman HasanMuhammad SohrabNoman Khan Daniyal AmirSyed Abdul Rehaman Ali
WHAT IS E-SAVERElectricity Saver is a power saving device that fine tunes the electrical system in your home shop or office. As a result; Reduced heat generation Reduced consumption of electricity up to 30 to 35%. Protection against power fluctuations Increased capacity of electrical panel.
All this means; Reduced Electricity Bills. Safety of Appliances and electricity system.
What do we mean by heat generation?All electricity appliances have resistance. Because of the resistance, electricity is consumed to generate heat. The heat generated is useless unless its what we expect or required.Reduction of heat generation i.e. reduction of power wastage is the fundamental source of electricity saving.
MISSION AND VISION MISSION:We introduced this innovative product to make our valued customers life better by minimizing electricity bills and to improve living standards.
VISION:We are committed to develop and produce quality electronic products for years to come.
Product Features;Reduces your electric bills up to 30 to 35% per month.Improves safety standards and the efficiency of electricity.Reduce electric overheating, short circuits etc.Easy to install. Prevents power loss and waste of extra energy.Environmental friendly.
PRICING STRATEGYFixed cost. Special discounts for first few customers.Competition.Target group and willingness to pay.
PRICING IN PERCENTAGECOSTS PERCENTAGE Import cost15%Overheads 10%Promotional Cost30%Distribution Cost 20%Warranty Claims 5%Profit Margin 20%
Product price: Rs. 7999/- Only.
Our customers are vital to the growth and sustainability of our company. Middle class households and shopkeepers are mainly our targeted customers.Head of the family will be targeted
TIME AND CHANNELSCHANNELSTIMESHOWSTOTAL COST (Rs.)GEO News8:00 pm 9:00 pmCapital Talk1,200,000ARY News 9:00 pm 10:00 pmKhara Such800,000HUM TV8:00 pm 9:00 pmFamily Drama Serial500,000Total2,500,000
Our advertisement will be played on Prime Time . Our main focus will be ARY NEWS & GEO NEWS. We will show our ad during the talk show on GEO News between 8 pm to 9 pm and on ARY News between 9 pm and 10 pm,.
MEDIUMS OF PROMOTIONOnline (Social Media)Newspaper (Dawn Newspaper)TVC (ARY NEWS, GEO NEWS AND HUM TV)Outdoor (Billboards and Demonstrations)
BUDGET ALLOCATIONS.NO.ADVERTISINGPLATFORMPLATFORM WISE TOTAL (Rs.)REACH (%)1ONLINE 1,00,00010%2NEWSPAPER5,00,00020%3TVC25,00,00050%4OUTDOOR10,00,00020%
COMPETITORSCompetitors will provide devices similar to e-saver which reduce electricity consumptionOur competitors will also try to satisfy the needs of the same sets of customers as we are. We must monitor what competitors are doing in the external marketing environmentAnticipate their likely response to our campaignsPredict what they will do in the future.
INTERMEDIARIES (WHOLESALERS,DISTRIBUTORS AND RETAILERS)Our business may require a network of wholesalers, distributors and/or retailer. The intermediary will showcase our product in his shop/showroom.Customer will have a choice to buy our product from retailers. Or to order the company itself to avail free home delivery service and free installation.
POINT OF PURCHASE/PLACE OF PURCHASEShops of electronic goods
Shops of Electronic home appliances
Selling through third party
Home delivery service
SUPPLIERSA key supplier can be an important part of our business and can attribute to our competitive advantage.
Losing important suppliers can interrupt production flow or prevent us from getting our product to our customers.
Key supplier: www.alibaba.com
THEORIES OF CONSUMER BEHAVIOR USED IN OUR NEW PRODUCT
RESEARCH PERSPECTIVES ON CONSUMER BEHAVIOR USED IN E-SAVER
Decision Making Perspective Problem Recognition: High electricity bills Search for alternatives for solution (E-Saver) Evaluate Alternatives (E-Savers benefits and features) Make the choice (Buy E-Saver) Evaluate the decision (Evaluate if E-Saver does what was promised
VISION/COLOROur product packaging is themed Sea blue and Green This represents the product as being environment friendly and safe. The perception of people would be the product being environment friendly and saves electricity.Saves their appliances from being malfunctioned and saving their money as well.
STIMULUS IN OUR ADVERSTISEMENTMusic and animations to attract people and expose them to our ad. Short labels about the general problems of electricity bills and appliance malfunctioning to catch the attention of the people Benefits and features of E-saver One month money back guarantee. The interpretation of ad would be that the E-Saver can solve the problems of high electricity bills and appliances malfunctioning and has a cause of being environment friendly.
Perceptual Vigilance The product is mainly targeting middle-class households and small shopkeepers who are generally fed up of high electricity bills so perceptual vigilance would let them pay more attention towards the advertisement.
Perceptual Defense Middle-class people generally avoid to spend much money on newly launched products E-saver will cost them around 8,000 rupees but the need for low electricity bills and use more electricity to make living standard a bit better would make them act on perceptual defense they will believe they are getting more value as compared to their money.
REPETITIONAds would be repeated frequently This will remind people on regular intervals to think about purchasing the product. This would also allow the viewer to easily encode the information in long term memory.
SEMIOTICSE in the logo represents the word electricity.The logo color gives the impression that the product is environmental friendly E-Saver would be symbolized as the saver of peoples money.
CONCEPT OF PROXIMITY Associate our brand with other well-known electric brand.Give away free energy saver bulb of that particular brand with each E-Saver to first few customers. This will form Proximity with that particular brand.
High Involvement Customers:Middle Class households Small shopkeepers.
Low Involvement Customers:Upper Middle Class and upper class householdsRestaurants Large and Medium Scale Businesses
INSTRUMENTAL CONDITIONINGLow electricity bills Use more electricity Months money back guarantee if they think the product is not working wellSense of security
ACTUAL SELF IMAGE AND IDEAL SELF IMAGEThe target audience is mainly middle class households. Their self-image of a middle class family is the family who spends according to the budget and they have to save as much electricity as possible. E-saver urges those households to create the ideal self-image by using more electricity and save money and improve living standards.
Functional Impression of the products attributes, features and benefits
Four segments on consumer Behavior:
Psychographic segmentation: Reduced consumption of electricity up to 30 to 35% would psychologically effect the low income customer.Demographic segmentation: we have segmented small business owners and villages, lower middle class people, low income people.Behavioral segmentation: Its more comprehensive compared to other. Behavioral programs conducted for field tests, E-SAVER have identified five characteristics:-Measureable savings-Predictable savings-Cost-effectiveness-Sustained impact-Customer satisfaction Geographic segmentation: Pakistan is overall the biggest target market especially the rural sindh,lower middle class people of Karachi, villages of Punjab and kpk.