Market Structure And Technological Change: PLX Solar Legion Case Study

Marketing objective

Discuss about the Market Structure and Technological Change.

PLX Devices, an organization based in California produced a device named PLX Solar Legion that is used to develop free natural electricity from the excessive heat of the sun (Mester 016). As the product is allowed to enter the market of Australia, marketing objectives, strategies and action programs are needed to be developed that will help the organization to launch the product in the market successfully. Further, a set of goals and objectives laid down by the company helps its stakeholders to perform and connect with the enterprise effectively.

Policies and action plan are designed for the next six months of the launching of the product. The marketing mix for the PLX device is performed with the help of the 4 P’s tool that contributes to understanding the market for the device. Additionally, the action program for the device helps the managers of the brand to know the steps and the activities that are needed to be followed in order to launch the product successfully. Thus, the project sheds light on the effective launching process of the PLX device in the market of Australia.

According to Kotler et al. (2015), it is important for the company to develop objectives that will help the company to sustain in the market even after the launching of the product. The three most important goals of PLX Devices that are achievable within the first three months of the product launch are as follows:

One of the principal objectives of the company is to achieve huge sales and market share that will help the company to earn a higher profit. The higher sales can be accomplished within the first six months of the product launching if the company is able to provide high quality product and services to the customers (Kickstarter 2016).

The more the company promotes the PLX device, the more will be the customers able to know about the product. Thus one of the objectives of the company is to adopt active promotion to increase the product awareness among the clients who helps to grow sales.

Creating a brand image is an important activity of PLX Devices. To survive in the highly competitive Australia, the company targets to benefit the people (Plxdevices.com 2016). Brand management increases the brand image through gaining customer satisfaction and customer retention.

PLX Devices divides the market in order to carry out an enhanced marketing mechanism. According to Baldwin and Scott (2013), the company divides the market into various segments based on the demographic, geographic and psychographic conditions of Australia.

PLX Devices Marketing

In the demographic segmentation, the market is divided based on the religion, sex, education and the occupation of the individuals. The company focuses on the people who have occupation relying on the use of computer and technology. Geographical segregation helps the company to focus on the individuals of a particular market, which helps them to understand the market need in details (Wedel and Kamakura 2012). Psychographic divisions are performed by PLX Devices by determining the interest, activities and the opinion of the customers.

With a launch of the solar device in Australia, PLX Devices primarily focus on the household and office areas that require an excessive amount of energy to carry out their daily functions. An objective of serving towards the wellbeing of the society, the company takes a deep interest in maximizing the idea for a need of the environmental friendly device among every possible corner of the country.

In addition to targeting schools and universities, the managers also aim to deliver the product in governmental departments. According to Griggs et al. 2013, the increase in knowledge for a sustainable environment would lead to a considerable increase in target market policies.

The management board of PLX Devices carries out a detailed study of the Australian market for an efficient positioning of its goods. Recognizing Sydney and Melbourne as the most dynamic regions, the company majorly focuses on the two areas to position its goods for the few beginning months. Additionally, an expansion of demands in NSW and the northern territory would also contribute towards the revenue generation of the business (Rahman Shahbaz and Farooq 2015). Along with profitability, a need for public welfare would let supervisors intervene in Victoria, Tasmania, Queensland and parts of South Australia as well.

The Solar Legion device of PLX is an adaptable and self setting solution that is not only easy to install but also an efficient energy producing system. The introduction of the product in the era of the developing world would lead to an enormous growth of the company. Further, the diversification of the commodity based on the requirements of the people is one of the most efficient decisions taken by the management (Goi 2015). A production of solar hub and panels is an addition to the basic solar kit of the company. Power inverters, mounting screws, harness, plugs, stronghold wires, nuts and washers for the machine can be bought separately if lost. Along with all these goods, the most active which comes handy is the monitoring app developed by an expert of the organization. 

Targeted customers

With a need for expansion in power generating system, PLX Devices provide the people of Australia with two 100 watt panels that can be increased by the install team. The 160-watt inverter proves to be efficient and also can be expanded with a little pocket pinch. Not only does the company provide its people with material products but also a ready after sales service team who serve six days in a week.

With an intervention in the Australian market, the company sets a reasonable and affordable price for the exceptional product. The most basic starter pack that includes all necessary goods costs $449.99. Legion solar is just a plug and operates machinery that performs three times faster as compared to any other device. A onetime investment for the product is priced to suit not only the needs but also the budget of the Australian people.

The further expansion kit is set at the cost of $379.99 that specifically includes 8-z brackets, extra 1t harness, panels, inverter and several other parts (Plxdevices.com 2016). Installing the simple frame is facilitated with an additional payment to the service employees of the company. Though the cost of all the arrays might look like a big investment but in reality saves the people from an extra burden of the current use of electricity sources.

Furthermore, the 11,000MAH battery will be sold at $39.99 instead of its original price $69.99 to attract customers. Concerning the Legion Meter, the price level is set at $29.99 giving a $40.00 discount. PLX Devices strongly relies on the nature and lifestyle of the people to build up its pricing strategies. A customer oriented product costing would attract more clients and result in a stable revenue generation for the business.

In order to flourish in Australia, PLX Devices greatly emphasizes on a broad distribution plan. Australia being a developed country possesses an enormous amount of resources, the use of which would decide the brand’s future in the country. Managers target the busiest cities to create a placement order of the device. An accessibility of the product in the market relies on the positioning and distribution strategies of the company.

The brand makes use of the available agents and middlemen to carry out circulation of the good. Further, setting up franchises, hubs, and subsidiaries in parts like Sydney, Western Australia, NSW will set up a strong base for business. As stated by Williams (2016), to survive in the highly competitive country, supervisors also focus on a selective distribution system to meet the needs of their targeted customer segments. PLX Devices also take a sincere interest in participating in social welfare and sustainable future programs organized by the government.

Market positioning

 Further, the enterprise takes a keen interest in exhibitions and seminars that focus on a development of a bright future for Australia. As stated by Gordon (2012), with the growth of the internet and online shopping websites, managers distribute goods through their little cache online site that can be accessed from anywhere at any point of time. 

The management structure of PLX Devices seeks to understand and intervene in Australia with an impacting promotional plan. In order to attract customers, the advertisement is largely needed to increase brand awareness and sales. Concerning the competition in the country, managers invest and promote the necessity of an extensive strategy to drive and retain consumers in the company.

Supervisors maintain a direct relationship with their clients to know about their needs and also to provide them with information on the launch of new products. Policies like door to door selling, word of mouth and public programs are the core procedures practiced by the business in this regard. Furthermore, providing of samples will also lead to sufficient rise in sale amounts in the coming three to six months (De Mooij 2013).

With a rapid growth in social media and the internet, PLX managers recognize economies of scope in promotion through networking and high rated websites. As stated by Pavlou and Stewart (2015), ads on televisions, newspapers and posters will also contribute towards building up of a potential audience in Australia. The skilled supervisors in the company focus on the use of a promotional mix policy that best suits the country rather than concentrating on a single technique.

A flourishing prosperity of PLX Devices greatly depends on a detailed action plan. A sustainable revenue generation is directly related to the company`s motives for societal welfare and growth enhancement. In order to benefit Australia, managers emphasize on an ethical code of conduct to carry out transactions. Moreover, opening up hubs and subsidiaries in the nation creates job opportunities for the unemployed. As opined by Urwin and Buscha (2012), back to work programs and environmental advancement schemes will increase the ecological conditions in the country.

The concept of collaboration with competitors would also open up scopes for the brand. Use of modern technology, trained workers, and capital advertisement policies will enhance the growth of the organization in the foreign country (Bravo-Biosca Criscuolo and Menon 2013).

Conclusion

Marketing strategies of PLX Devices are what seatbelts are to human lives. The goals and objectives of the brand to help the society is the key to its success. Like every other firm, PLX also focuses on business growth and high revenue generation in the foreign country. Australia being a country of its kind owns a market like no other. The rapid development of the nation will open up chances for the prosperity of the organization.

Furthermore, an exercise of the 4P marketing strategy by the high skilled internal stakeholders plays a major role in advancement of the brand. Concerning a six-month period from its establishment, PLX Devices focus and check the implementation of the target program. Scrutinizing the above report it can be concluded that though intervening in Australia is hard, with proper management the company can emerge among the leaders in a few years.

References

Baldwin, W. and Scott, J., 2013. Market structure and technological change(Vol. 18). Taylor & Francis.

Bravo-Biosca, A., Criscuolo, C. and Menon, C., 2013. What drives the dynamics of business growth?.

De Mooij, M., 2013. Global marketing and advertising: Understanding cultural paradoxes. Sage Publications.

Goi, C.L., 2015. Marketing Mix: A review of’P’. The Journal of Internet Banking and Commerce, 2005.

Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix.Australasian Marketing Journal (AMJ), 20(2), pp.122-126.

Griggs, D., Stafford-Smith, M., Gaffney, O., Rockström, J., Öhman, M.C., Shyamsundar, P., Steffen, W., Glaser, G., Kanie, N. and Noble, I., 2013. Policy: Sustainable development goals for people and planet. Nature,495(7441), pp.305-307.

Kickstarter. (2016). Legion Solar – A Better Way to Energy Independence. [online] Available at: https://www.kickstarter.com/projects/plxdevices/legion-solar-a-better-way-to-energy-independence [Accessed 26 Sep. 2016].

Kotler, P., Burton, S., Deans, K., Brown, L. and Armstrong, G., 2015.Marketing. Pearson Higher Education AU.

Mester, L.J., 2016. The US Economic Outlook and Monetary Policy 07.13. 16 Australian Business Economists, Sydney, Australia (No. 74).

Pavlou, P.A. and Stewart, D.W., 2015. Interactive Advertising: A New Conceptual Framework Towards Integrating Elements of the Marketing Mix. In New Meanings for Marketing in a New Millennium (pp. 218-222). Springer International Publishing.

Plxdevices.com. (2016). Legion Intelligent Energy. [online] Available at: https://www.plxdevices.com/shop-legion-intelligent-power-solar-batteries-charging-s/202.htm [Accessed 26 Sep. 2016].

Plxdevices.com. (2016). Legion Portable Batteries & Charge Accelerators Android & iPhone. [online] Available at: https://www.plxdevices.com/Legion-Portable-Batteries-Charge-Accelerators-Android-iPh-s/123.htm [Accessed 26 Sep. 2016].

Rahman, M.M., Shahbaz, M. and Farooq, A., 2015. Financial development, international trade, and economic growth in Australia: new evidence from multivariate framework analysis. Journal of Asia-Pacific Business, 16(1), pp.21-43.

Urwin, P. and Buscha, F., 2012. Back to Work.

Wedel, M. and Kamakura, W.A., 2012. Market segmentation: Conceptual and methodological foundations (Vol. 8). Springer Science & Business Media.

Williams, J., 2016. Economic insights on market structure and competition.Addiction.