Sustainable Marketing
LED Bulb - Marketing Plan
Marketing Situation Analysis
Desired Outcomes
Marketing Strategies
Action Plan
Implementation, Controls, and Evaluation
LED technology has made many breakthroughs in recent years. The most notable of which is its level of cost effectiveness. However, the initial investment required to implement LED light bulbs still exceeds the alternative market choices. Yet the total cost of ownership offers consumers sizable gains. The market segment that this marketing plan is catered to is composed of industrial firms who purchase items in quantity as well as consider such items as the total cost of ownership. It is reasonable to suspect that this segment will be the most receptive to LED technology.
Rationale for Research
LED lighting solutions were chosen because this technology represents the future of lighting. The LED bulbs offer better quality of lighting, have a much longer lifecycle, and require is significantly reduced amount of electricity to operate when compared to their less efficient counterparts. It is reasonable to suspect that the technology will be ubiquitous at some point in the near future. However, since the future growth trajectory is still somewhat uncertain, then this makes for an interesting position in which to analyze.
Benefits of LED Technology
Electric used in lighting currently accounts for roughly nineteen percent of the world's electricity use, emitting about as much greenhouse-gas pollution into the atmosphere ever year which is roughly equal to the emissions from about half of the world's automobiles. The importance of this source of power consumption cannot be overstated in terms of reducing anthropogenic global warming. LED technologies offer an alternative to traditional lights while lasting roughly ten times longer and requiring a fraction of the electricity to operate. Not only that, but LED doesn't require Mercury for production and it provides a high quality of light emitted. Furthermore, the technology is already cost efficient when considered from the perspective of its lifetime. All individuals involved, consumers, investors, and producers will benefit psychologically from knowing they are doing their part to address climate issues.
III. Marketing Situation Analysis
The current marketing situation that is present in any green marketing product at the moment represents one of the most salient challenges that anyone familiar with both marketing and the environment will attest to. Generally, marketing concerns itself with trying to promote the relevant products in the most beneficial manner as possible. However, when the ecological demolition that is currently being undertaken by societies is considered, then the problem is heightened to unfamiliar levels. Not only is marketing a profession but also a lifeline to the future of humanity. Promoting products that make a difference to the future of the planet and the species that inhabit is on another level altogether.
Climate change, due to anthropogenic activities, poses a real challenge to all species on this planet, now and into the future. Exponential increases in greenhouse gas emissions since the pre-industrial era have led to a current carbon dioxide concentration in the atmosphere of roughly 390 parts per million in the atmosphere (CO2 Now, 2011). The current CO2 concentration is enormously disturbing considering some scientists have estimated the level at 350 parts per million to be the threshold point (Hansen, 2008). Furthermore, The International Panel on Climate Change (IPCC) estimates that at 450 parts per million there is a fifty two percent chance that catastrophic climate change will not occur (IPCC, 2007). There exists appropriate evidence for a person to be troubled; our planet is in peril.
Unfortunately, in many nations, the political determination to introduce the required regulations in emissions limitations has been sluggish, at best, to adapt to the scientific findings on an international level. During the last international convention, optimisms persisted that an arrangement would be decided upon, but the conference was unable to establish a new agreement to supplant the Kyoto agreement. Furthermore, one estimate that was produced that utilizes data from each country's current pledged emission path and runs them in MIT's most sophisticated climate model predicted the estimated carbon concentration in atmosphere in the year 2100 would be 770 parts per million (McKibben, 2009); clearly greater than any worried individual would deem as not dangerous.
There is some evidence that has been presented that suggests that this trend might change in the near future. Ethics and social responsibilities are increasingly becoming the target of the attention of individuals, organizations, and societies across the earth. Moreover, ethical considerations for future generations have become more salient when organizations and institutions consider stakeholders...
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