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This report will explain in detail about setting up a solar energy vehicle business. There are not many competitors in solar power vehicle industry. The threat of new entrants is low, because the barrier for starting a business in the solar energy industry is high.
This report will explain in detail about setting up a solar energy vehicle business. There are not many competitors in solar power vehicle industry. The threat of new entrants is low, because the barrier for starting a business in the solar energy industry is high.
This report will explain in detail about setting up a solar energy vehicle business. There are not many competitors in solar power vehicle industry. The threat of new entrants is low, because the barrier for starting a business in the solar energy industry is high.
Name Meitong Chen NetID Mche986 Group Number: 028 Website Link: http://infosys1102014ssgroup028.blogspot.co.nz/ Tutorial Details Tutor: Day: Time: Nicholle Tutor Sunday 11am Time Spent on Assignment: 24 hours Word Count: 1691
Meitong Chen Group 028
SOLAR POWER VEHICHLE BUSINESS REPORT INTRODUCTION
In many New Zealand families, members of the families often appears to own more than one vehicle, because the public transport isnt efficient enough to please the general public. As a result of this, the purchase of vehicles increase, but this has also lead to a more important problem, which is environment pollution. Fortunately, existing solution such as solar energy is able to resolve this problem. This report will explain in detail about setting up a solar energy vehicle business.
3. BUSINESS SECTION 3.1 Vision
To make a contribution to the world by making solar energy vehicles for the mind that protects our environments.
3.2 Industry Analysis: Solar energy vehicle industry
Industry: Solar energy vehicle industry Force: High/Low: Justification: Buyer power: Low As solar technology is still under developed, it would require a huge amount of time and cost to improve and turn into a sufficient product. In addition, technologies in this type are beyond expensive, and hard to own by the public. There are not many competitors in solar power vehicle industry, and this has leads to a situation where buyers dont have many options to choose from.
Supplier power: Low There are many existing suppliers for my company to choose upon. Therefore the supplier power is theoretically low.
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Threat of new entrants: Low The threat of new entrants is low, because the barrier for starting a business in the solar energy industry is high. It requires a large amount of resource, skills, and knowledge, and there are not many existing companies in this field. Therefore, the effectiveness or threat of new entrants is low.
Threat of substitutes: High In terms of protecting the environment and avoid the problem of environment pollution, traveling with solar energy vehicles isnt the most ideal way for a majority of people, because there are many other methods they can choose from. (I.e. walk, cycling etc.)
Rivalry among existing competitors: Low Since the rivalry among existing competitors is low, the competition between companies is not very intense, because there are only a few companies currently operating in this industry.
Overall attractiveness of the industry: Solar energy vehicles is the latest solution for saving energy. It uses the solar power from the sun. Although such form of energy saving have not yet been spread in New Zealand, but it has the potential for protecting our environment and reduce the chances of globe warming.
3.3 Customers and Thei r Needs
In general, the potential target audience or customers are those who willing to purchase the product and have a fair interest in the product. Additionally, this group of people is wealthy enough to afford the product. On the other hand, their needs would be the benefits they gain from using and purchasing the solar energy vehicle. For example, when customers use solar energy vehicles, they can make a contribution to our environment, because such product helps to reduce global warming. In addition, using solar energy vehicles can save tones of dollars for the society, where less money is used for protecting our planet from globe warming. In a long term, solar energy vehicles save money for the customer, because the vehicle requires nothing but sunlight to operate. Last but not the least, my company is promised to provide a friendly after-sale service for the customers.
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3.4 The Product and Service
In order to provide a satisfying after sale service, my company will carry out different surveys to gather feedbacks from our customers. These feedbacks will be used to improve our customer services and products. Also, people who participated in the event have the chance to win a great price from the winning draw. Lastly, our latest update can be seen on our official website. For example, information on our new products and the current status of the globe environment will be included in our website.
3.5 Suppliers and Partners
Solar King and Solar City were the chosen suppliers for my company, because both of these companies are located in New Zealand. It is easier to communicate with my supplier when they are located in the same country as mine. On the other hand, Volkswagen, and IMPACTPR were the chosen partner for my company. Although Volkswagen is not originated car company in New Zealand, but they have been bring the best cars to our country for 60 years. I believe such company has the power to provide a range of high quality vehicles and strongly reinforce my products. In terms of the advertisements of the company, I decided to work with a company named IMPACTPR. It is a New Zealand company that has a huge range of advertising strategies, which will assist my company when promoting products to my target customers.
3.6 Strategy: Focused High Cost
Cost: Generally speaking costs for manufacturing solar energy vehicles is really expensive, because the materials, skills, and technologies to start up the business is much higher than an ordinary vehicle. Therefore, the prizing of these high class vehicles will be higher than usual. Scope: In this scenario my business is basically focus at a narrow market, because we are only targeting high class consumers who is able to afford our products. Due to the limitations for starting the business and narrow market of this particular industry, the overall strategy is therefore Focused high cost.
3.7 Value Chain Activity: Market and Sal e
The most important value chain activity for this business is market and sale, because the benefits of solar vehicles have not yet been spread to the general public. Although, technology development is an important aspect to the company, but the market and sales of a company is a more important aspect for keeping any company running in a long term. Secondly, market and sale is the most important value chain activity for my business, because the current focus market for our company is Meitong Chen Group 028
narrowed. As a result, market and sale becomes the companys first priorities. Lastly, we would like more people to understand the idea of environment protect and the contribution our products are making.
3.8 Business Processes
3.8.1. Marketing process: It is an important process as our company is communicating with our new customers. Effective marketing idea such as using solar energy vehicles for delivering product can be used to promote our brand. It can be used to increase the social awareness of our company, and promote the companys vision of contributing to the world by making and using solar energy vehicles. The marketing process can be observed by looking at the generating value and customer preferences. Therefore, consideration from customer preferences will be applied in our designs to create a satisfying experience, and improve the efficiency of our marketing process.
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3.8.2. Distribution process: Another important process for our company is distribution process. We design specialize solar energy vehicles for the distribution process. It enables the company to deliver the products internationally, and introduce the quality of the vehicle during the process. This deliver strategy used for the company can create advantages when competing against other company, because our new products can be delivered as soon as possible.
3.9 Functionalities
3.9.1. Marketing process Print customers details Online customer survey 3.9.2. Distribution process Updating order status Meitong Chen Group 028
Print order details
3.10 Systems
3.10.1. Inventory management system Our company has to make sure that we dont have too much inventory on hand, as their value would become lower. We will reduce costs and improve productivity and improve customer satisfaction, by ensuring the business is matching the demand and supply. Also, we will use our inventory management system to maintain a sufficient level of inventory, it reduce cost by KPI (key performance indicator). Surveys will be conduct through our website to find out usefully information for estimating the amount of potential customers, and use the estimated outcome to determine the size of inventory. This will allow our company to match our vision of protecting the environment by keeping the inventory at a pleasing level. 3.10.2. Marketing management system. This system helps us to deal with customers. We gather in opinions from customers and use it to improve our service by creating products that meets the customers need and interests. We maintain a habit of collecting feedback from customers using the CRM (customer relationship management) system to increase customer experience along different stages of the purchase, and provide friendly after sale service. We believe this tactic will strongly increase both our customer service level and customer satisfaction.
3.10.3. Order processing system This system will be use to accurately collect all data and transfer them from one place to another, and then this system will turn any collected data into clear information. Our company exits to generate a large amount of sales and profit, which makes the ordering processes much harder to handle. As a result, we will be using a reliable order processing system to make sure everything is on the right track. Order processing system also enables customers to track data on orders throughout the purchasing stage. It can be use to establish a trustworthy relationship with our customers.
3.11. Summary Table: Value Chain to Systems
Value Chain Activity Processes Functionalities Specific Information System(s) Broad Information System(s) Meitong Chen Group 028
Market And Sale 1. Market ing process 1. Print customers details
2. Online customer survey
Marketing management system
Order processing system Customer relationship management System
Transaction processing system 2. Distrib ution process 1. Updating order status
2. Print order details Inventory management system
Distribution management system Supply Chain management system
Supply Chain management system Meitong Chen Group 028
CONCLUSION
In conclusion, this business report has covered a brilliant idea about establishing a business in the solar energy industry, and make contribution to our environment by manufacturing and selling solar energy vehicles. Due to the specialty of the industry and size of market customer satisfaction becomes the key of our business. Various amounts of strategies and systems such as CMS, TPS, and SCM have been applied to the business to improve customer satisfaction. We strongly believe providing satisfying customer service will help our business create an indestructible relationship with our customers. Moreover, these improvements will create advantages when competing against other companies within the industry.
REFERENCES Elliott. H (2011). Why solar-powered cars wont go: they cant keep up with combustion engine . Retrieved from http://www.forbes.com/sites/hannahelliott/2011/05/25/why-solar-power-wont- work-it-isnt-keeping-up-with-the-combustion-engine/ IMPACTPR . (2014). IMPACTPR Home Page. Retrieved from http://www.impactpr.co.nz/
Shahan. Z (n.d). Advantages & Disadvantages of Solar Power. Retrieved from http://cleantechnica.com/2013/10/08/advantages-disadvantages-solar-power/
Solar City. (n.d). Solar City Home Page. Retrieved from http://www.solarcity.co.nz/home
Solar King. (2014). Solar Energy Specialist Home Page. Retrieved from http://solarking.co.nz/
Volkswagen. (2014). Volkswagen Home Page. Retrieved from http://www.volkswagen.co.nz/
Wilkinson. J (2013). Buyer Bargaining Power. Retrieved from http://strategiccfo.com/wikicfo/buyer- bargaining-power-one-of-porters-five-forces/