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ENT-5001
Week 1 - Assignment: Assess Benefits of a Strategic Marketing Plan to Recommend Alternatives for
Businesses
Introduction
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There seem to be a lot of veteran-based companies that are operational with the desired intent of
assisting veterans. As a United States Army soldier I had the privilege of seeing first-hand the power of solar
panels. Now that I’m a retired combat veteran, I immediately noticed a need to promote the capabilities of solar
power back in the states. This was primarily based on how we utilized solar panels, etc. during my times spent
overseas. Based on this need, 2MSolar was established. The importance of task organization in the marketing
plan and strategy of 2MSolar to include how to assess in support of the set goals is relevant. In today’s society,
having a marketing plan and strategy play a huge role in how a company such as 2MSolar performs across the
board. This presents to the key leaders information as to whether or not 2MSolar is striking the set objectives
which are in place. This paper will develop a current mission and vision statement for an existing business
venture. Also, to conduct a situational analysis specific to the existing/prospective business.
Mission and Vision Statement
The analytical breakdown of the mission functions as a guide to understanding the existence and overall
task(s) of the company. “A mission statement is the foundation for priorities, strategies, plans, and work
assignments. It is the starting point for the design of jobs and organizational structures” (David, David, &
David, 2016).
The mission of 2MSolar is to raise awareness, strive for independence in the community and region at
large, which totally involves customer support. 2MSolar’s goal is to introduce the nation to solar through
education and being a quick response to our customers, simultaneously making each of us independent leaders
of our environment.
“Very few employees get deeply excited or motivated by mission statements or business objectives.
Visions, however, have the power to truly engage, motivate and inspire” (Lord, J. 2011). The level of
empowerment that will be received through the vision will usher in the needed assets to complete the task. Our
Vision: To establish relationships within the communities through public benefit, technology, positive impact on
the environment, and sustainability.
A Situational Analysis
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2M Solar mission is to function as a business that offers a complete renewable energy plan via solar
power which will assists clients in their energy consumption. This will add a tremendous financial value to the
home. We believe this can be accomplished through advanced systems. In order to establish this business, 2M
Solar must be in position to demonstrate customer service excellence and quality of product.
Competition
There are multiple companies throughout the nation that rank well in the solar industry. I’ll just highlight
a few. Dividend Solar ranks at the top of the industry. This business ties different financial investors,
homeowners, and customer unique installers into a program. All parties can benefit and financially prosper.
Dividend Solar has a commitment to bring every one of their customers the highest quality of product. This is
done by working with unique installers who share the same vision. Also, they offer a more durable loan system
with low-risk involved. Dividend Solar innovation strategy is to create the needed change and question the
status quo. As technology within this industry increases, Dividend Solar has figured out that banking and energy
have evolved to the same level. “Porter argued that a company can achieve competitive advantage by providing
buyers more value at a lower cost (low cost) than their competitors, or by performing activities in unique ways
that create more value than their competitors and therefore charge a premium price (differentiation)” (Bashir &
Verma, 2017). They’re set apart by specializing in financing and solar loans. They offer a zero down empower
loan which presents the offer to purchase instead of lease. Now there’s the ability for an early pay-off to include
a high quality installation process.
SunPower serves as a formative competitor. This company has demonstrated solid, positive results
within the market. They’ve partnered with Stanford University to create a product with an all back solar cell.
This solar cell is meant to be high-efficiency. The conversion of energy is over 15 percent with each panel
producing over 340 watts. The fourth ranked company in the world is the majority owner. These facts alone
prove them to have a competitive advantage over Strata Solar.
Green Solar Technologies offers a unique loan plan from top financial institutions that fits the
customers’ budget. Basically, customers have reduced their energy bill from going green by at least 60 percent.
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Green Solar presents the customer with an opportunity to specifically customize their panels. A surveyor will sit
with the client(s) and discuss the best course of action. From there, an engineer will create the solar power
system based on certain dimensions and energy needs of the customer. What’s also unique about Green Solar is
the company offers a $1000 referral bonus when a customer shares the process and that individual ultimately
receives installation and services.
Economic Growth and Stability
The economic condition in the United States has shown disruptions because of natural disasters that
have recently occurred. However, there’s been gross domestic product growth even through the third quarter.
There’s been growth seen in job creation and a decrease in unemployment. Within North Carolina which is
where the business venture is located, the state has been ranked 11th in being the fastest growth in total income.
Charlotte continues to grow due to the finance and banking industry. Charlotte is also known as the second
largest banking hub. So the opportunity for growth and expansion is there to maximize.
In reference to the economic condition of the solar industry, the cost of renewable energy has declined
while the investments and acceptance of solar paneling has created an uptick in installation. The long-term
agreements capitalize on the operation and installation process to include tax credits. For example, The falling
costs of solar, coupled with the recently extended Investment Tax Credit (ITC), are driving massive amounts of
new investment is solar (McGarry, n.d.).
The economy and tax credits are quickly pushing towards solar energy in the home. When gauging the
current increase of solar paneling on residential and business properties, there’s a question as to whether or not
that investment is worth the purchase and relevant in cost effectiveness. Based on a study in Arizona and other
western states, we took that information to estimate our goals and figures in the state of North Carolina. In
Arizona, properties that operate off of solar panels take advantage of an average premium over $40,000 (15% of
medium home value) and transaction price premium of over $20,000 (17% of medium home sales price) (Qiu,
Wang, & Wang, 2017). Customers are open-minded about solar energy for the home. The power to buy is there
because of the decrease in cost and the long-term benefits gained through tax credits and energy savings.
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Political Trends
The election tremendously shifted the economic conditions of our nation. For example, Core
Conservatives (Republicans) rank at over 65 percent believing that the United States involvement within the
global economy is good for new market and growth. Over 70 percent believe that our economic systems is a fair
system to a lot of Americans ("Political Typology Reveals Deep Fissures On The Right And Left", 2017).
Because the government is now a majority Republican ran system, they have dominate control which suggests
more of their agenda to be instituted. It’s a challenge to determine what type of industry regulations elected
officials favor in this election term. However, my determination is that things haven’t really changed because
the same officials are in office. This basically means that no new lobbying on behalf of corporations have taken
place. The lobbyists are hired to create relationships between the corporations and government officials strictly
for the purpose of information exchange and favored decision making. Apparently, the maintainence of good
relations still stand with the same elected officials.
Legal and Regulatory Issues
Utility lobbyists aren’t pleased with some of the standards applied towards private solar customers
versus those who can’t afford the solar installations. These personnel have been working in state capitals
throughout the nation to reverse the incentives for homeowners with solar panels. For example, they argue that
the law or rule which allows the private solar customer to sell excess power back to the grid at a retail price.
This can tremendously dim the future prospects for renewable energy.
Almost every state has welcomed a review of their solar energy policies. Since 2013, five different states
have made the decision to phase out certain aspects of this process resulting in a crippled program that once
spurred explosive numbers. In reverse, there’s a consideration for new or higher fees.
Technological Advancements
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Technology serves as a very cost-effective rate according to the United States Department of Energy
("How Is Solar Energy Used? The 5 Most Common Examples Of Solar Power", 2017). In 2016, an objective
was to figure out how to connect operations with a unique marketing style and turn global publicity into profit
while strengthening the financial portfolio. This requires a business to re-evaluate their financial structure for
the direct purpose of integrating modern technology. It was determined that solar photovoltaic (PV) was one of
the leading sectors in investments. Solar PV accounted for over $130 billion dollars because of the affect and
change it had in Japan and China. Understanding this, any investment would be justified to support technology
and energy towards PV innovation.
The next impact of innovation is data and technology. Data becomes easy to use when technology is
positively applied. In business growth, without technology, that business will be left behind by industry
competitors. Within the impact of technology, new benchmarks will be established and platforms towards assets
will be poured into the structured environment. The now union of data and technology ushers in a push to
change. Now the marketing strategy can positively cover the product and price once technology is set. This will
affect marketing automation in support of their buying and purchasing power. “Marketing automation is a
category of technology that allows companies to streamline, automate, and measure marketing tasks and
workflows, so they can increase operational efficiency and grow revenue faster” (Irina, I., 2016). With
technology constantly evolving, the internet has been a victorious form of marketing automation.
Sociocultural Trends
Sociocultural responsibility platforms are relevant in the 21th century. According to a 2015 study
conducted by Cone Communication/Equity, “91 percent of global consumers expect companies to do more than
make a profit,” such as “operate responsibly to address social and environmental issues” (Parkhurst, 2017). 2M
Solar values the social and environmental sector that has a voice in what effects this world.
Certain demographics display certain trends. For example, New Jersey, Arizona, and California rank as
the top three solar states. Over 50 percent of those homeowners have incomes ranging over $40,000 and under
$90,000. The installation of panels in middle class neighborhoods are increasing. Most Americans are aware of
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the solar energy push. By the numbers, awareness is high amongst postgraduate individuals at 86 percent. Men
versus women are more open to say this (76% vs. 66%) and Democrats are open to speak on this than
Republicans (79% vs. 65%) (Funk, 2017).
Conclusion
In conclusion, the blueprint of a marketing strategy serves as the focal point to reaching customers and
dominating the industry. The foundational structure of any business stands on quality, integrity, and
effectiveness. Application of standards such as the mission and vision statement to include the principles of
service and a planning process are relevant in the pursuit of excellence. This business approach and balance can
positively affect the industry simultaneously causing minimum error in the arena of a marketing plan and
strategy.
References
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Bashir, M., & Verma, R. (2017). Why Business Model Innovation Is the New Competitive Advantage. IUP
Journal Of Business Strategy, 14(1), 7-17.
David, F. R., David, F. R., & David, M. E. (2016). BENEFITS, CHARACTERISTICS, COMPONENTS, AND
EXAMPLES OF CUSTOMER-ORIENTED MISSION STATEMENTS. International Journal Of Business,
Marketing, & Decision Science, 9(1), 19-32.
Doran, W. (2016, April 29). North Carolina has had the country's fastest-growing economy since 2013. The
News & Observer. Retrieved from http://www.politifact.com/north-carolina/statements/2016/apr/29/patmccrory/mccrory-north-carolina-has-had-countrys-fastest-gr/
Funk, C. (2017). Public opinion on renewables and other energy sources. Retrieved from
http://www.pewinternet.org/2016/10/04/public-opinion-on-renewables-and-other-energy-sources/
How is Solar Energy used? The 5 most common examples of Solar Power. (2017). Retrieved from:
http://news.energysage.com/most-common-solar-energy-uses/
Irina, Ioana. (2016). WHAT IS MARKETING AUTOMATION AND HOW COULD IT BE USED FOR
BUSINESS? Anuarul Institutului De Cercetari Economice "Gheorghe Zane" - Iasi, 25(1), 11-18. Retrieved
from http://search.proquest.com.proxy1.ncu.edu/docview/1928768821?accountid=28180
Lord, J. (2011). How to define and implement a vision for your company. Manager: British Journal Of
Administrative Management, (75), 24.
McGarry, J. (n.d.). The Awesome Economics of Solar Energy Growth. Retrieved from
https://www.climatesolutions.org/bright-future/clean-energy-economy/1476391533-economics-solar-energygrowth
Parkhurst, M. (2017). Corporate Social Responsibility — How Renewables Have Expanded the Field. Retrieved
from http://www.renewableenergyworld.com/ugc/articles/2017/05/23/corporate-social-responsibility--howrenewables-have-expanded-the-field.html
Political Typology Reveals Deep Fissures on the Right and Left. (2017). Retrieved from http://www.peoplepress.org/2017/10/24/political-typology-reveals-deep-fissures-on-the-right-and-left/
Qiu, Y., Wang, Y. D., & Wang, J. (2017). Soak up the sun: Impact of solar energy systems on residential home
values in Arizona. Energy Economics, 66328-336. doi:10.1016/j.eneco.2017.07.001
Tabuchi, H. (2017, July 8). Rooftop Solar Dims Under Pressure From Utility Lobbyists. The New York Times.
Retrieved from https://www.nytimes.com/2017/07/08/climate/rooftop-solar-panels-tax-credits-utilitycompanies-lobbying.html
U.S. Economic Outlook. (2017). Retrieved from https://www.focus-economics.com/countries/united-states
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