A launch plan including marketing ideas for awareness & repeat purchase for the new product. Include which types of marketing elements will be most important for Proterra's solar panel vehicles with regenerative brakes.

 

In responding to this assignment, it is imperative to understand the concept of launch plan and what it entails in business management. This term simply denotes the efforts that involved when a company introduces a new product in the market. Therefore when anticipating to launch a new product, the following are some of the best strategies to adopt; first, it is vital to identify and know the competitors before the product launch, this helps in determining a competitive advantage to use over the competitors. Secondly, it is advisable to network so that the product is shared to a more larger customer audience. Besides, launching and creating awareness can be successful by using pre-marketing as a strategy of building anticipation among customers. Furthermore, the launch should ensure that the customers are satisfied in the suitable way that is possible. Lastly, creating an effective supply chain will also facilitate and make the new product to reach many customers. Product launch relies on the timing, this is to imply that the product or service ought to be launched at a time when opportunities are convenient. If the timing for the product launch is not correctly done, the product may fail to attract potential customers nor compete with existing products in the market.

Step-by-step explanation

It is also important to highlight the qualities or features of the product that distinguishes it from other products in the market, for instance, in the case above, the advantage or difference of the solar panel vehicle is the fact that it is environmental friendly as opposed to other brands. The timing of launching of the product should be such that during the time when there is great needs for the features in the product, for example, in the contemporary world, with the rising concerns on climate change and global warming, launching solar panel vehicles is timely, this is because many countries are having discussions on how to combat climate change and its effects. The marketing elements that can be used when launching the product include promotion, strategic positioning, and price. Promotion not only increases awareness but also creates brand loyalty and generates sales. On the other hand, positioning entails the perception that a product or brand want to have in the mind of a customer, it means the distinguishing features of the brand from others in the market. Lastly, pricing entails establishing a competitive price of the product which gives the customer the value for their money.