INTERNATIONAL MARKETING PROJECT
Table of Contents
SECTION 1: Executive Summary. 3
SECTION 2: Opportunity. 4
SECTION 3: Marketing and sales plan. 6
SECTION 3: Execution. 13
SECTION 4: Company Overview and Team.. 14
SECTION 5: Operations. 17
SECTION 6: Financial Plan. 20
REFERENCES: 26
SECTION 1: Executive Summary
The company, GFT (Green Future Technologies), is a start-up that aims to reduce the carbon footprint of households and businesses by offering sustainable and energy-efficient solutions. The initial product line will include LED lighting, smart thermostats, and solar panels. The goal is to empower consumers to make environmentally conscious choices while reducing their energy bills.
The effective changes that could be enhanced by adopting the green future technologies in the field of technologies by the ideal customers in the targeted market would be admirable and have an approach to sustainability. All part of the initial products that were described, were internationally imported from abroad. This GFT (Green future technologies) is first introduced in California, and later it is imported to several other nations and Canada is one of those nations. Being a sustainability approach for energy efficiency solutions, it undertook several operations that include less damage or short-term effects to the environment and it includes the use of bioenergy, solar energies, etc. which were briefly described in the further sections. For its growth and evolving the idea of energy efficient processes, it would require to select the best possible target market and its targeted customers in the well-defined market. Based on the operations and approaches, methods used for financial planning were also described that would be effective in determining the overall portfolio of the people and their scenario in energy efficiency practices (Provornaya, et al., 2020).
SECTION 2: Opportunity
The products bring a new level of convenience and sustainability to the market. LED lighting is a cost-effective and energy-efficient alternative to traditional lighting, while smart thermostats provide automated temperature control and reduce energy waste. Solar panels offer a clean and renewable energy source, enabling customers to reduce their reliance on fossil fuels. By addressing the growing demand for sustainable solutions, it aims to capture a significant market share and become a leader in the industry (Zott, et al., 2011).
The business will be done in the current location after the successful implementation of the business and on the basis of its growth it would be expanded globally. To be more practical with the business that needs to be imported into Canada, several problems and issues must be addressed within the market sector to facilitate effective customer opportunities and servicess. The problems addressed include the selection of necessary products and services for the targeted market, improving the customer’s service, reducing the personal cost, decreasing time to market, improving the share of the market, and also addressing the complaints of the customers related to the services or the products. The products or services provided by the GCT are environmentally friendly and economically sustained and is reliable for the peoples to reduce the use of traditional methods of energy source that creates pollution and are not sustainable for the environment.
The targeted Market segment for GCT includes
The most predictable targeted market for GFT includes homeowners, small businesses, and mainly the companies that are engaged in distributing the electricity to the local areas or regions of that targeted market. With this selection of the targeted market in Canada, it could be understood that this scope and opportunity for renewable sources of energy will grow by the year 2024 and would be surely the mostly afforded source of energy source. But along with the identified problems, they need to be perfectly estimated and solved with the proper implementation of the policies and procedures in the targeted market(Ahn, 2017).
Commercial business will be a good option for it when requiring something fast and at low investment. Income-based higher-class people who have the potential to go for sustainability for their business are included in the market segment. It is the total available or addressable market which includes all the people or individuals who require that opportunity. A renewable source of energy is the most significant and valuable even for the present also, as fossils are going to be extinct in the upcoming years which then put the burden on the alternate source of energy, which would enable the growth of GCT business in the international market. By observing the rivals and new trends this will be handled. Having someone expert in the field and then
Ideal customer
These include the customers based on the targeted market as the products that were introduced in the targeted market are LED lighting, smart thermostats, and solar panels which contribute to being very effective and efficient in overcoming the problems that are faced by the people due to the traditional methods of energy sources. This source helps the ideal customers in various ways from reducing the extra cost of electricity as well as offers a pollution-free environment. Different mediums will be used to reach them which will include online and offline mediums.
It will be managed by an experienced person in the field of this and the monthly will be as per the requirement.
Key customers
Those who are having the requirement of the product. Key customers are those peoples who are regular and trustable individuals who rather than focus on the price but will effectively focus on the brand and quality of the services and products that are going to be offered to them. So, for these key customers, the services must be introduced with quality achieving and develop necessary policies and procedures that could effectively be contributed to the success of key customer retention in the targeted market.
Competition with other competitors
With the development of technologies and opportunities, there is an increased scope for the use of renewable sources of energy and along with the increased demand, there is also an increased competition due to the more focusing nature on environmentally friendly approaches.
The problems that are addressed which are concerned with the ideal customers could be solved by the competitors in the target market by applying and implementing various strategies and with effective servicing and products. Some are as follows
1) provide effective and efficient technologies to the customers
2) Concerns of customers were fast and quickly solved (Poudyal, et al., 2019).
SECTION 3: Marketing and sales plan
Through this section of the international marketing planning, a detailed and brief marketing plan of the GFT(Green Future Technologies needs to be developed) needs to be described which includes various necessary services to be provided to its targeted customers in the meantime with the simulation of involving import and export transactions as a trader.
Features and benefits will be offered compared to competitors
In this, all the benefits and effective services that GFT could provide to get engage with the customers and eliminate the competitors that were discussed above include
1) provide renewable energy sources at an effective cost.
2) With focusing more on the quality of the service that rare customers want rather than focusing on the number of customers that require quantity.
3) Ensuring the optimum consumption of the required resources
4) facilitating cultural exchanges
5) Better application of the surplus production
6) Providing a higher standard of living.
7) International cooperation and world peace
A marketing plan that is going to be designed is based on the customer’s primary needs and wants, what they require from the company, strategies developed by the competitor, strategies designed based on competitors that could enable a customer to opt for GFT as compared with the competitor, and how other solution GFT could introduce in the marketing of the products or exports that were discussed.
Marketing and Sales strategies
Possible elements in sales and marketing include:
1) Product Strategy
As it is described earlier GCT includes renewable sources of energy that are going to be exported into the international markets. In the current location a complete business when come to the success it will be shifted toward the expansion by the medium of exporting the product. So, through the export of innovative products such as branded and effective solar panels, and several other goods as well that could help people in changing their habits of using traditional sources of energy. Also includes LED lighting, and solar panels and this will enhance your competitive strength with other competitors lagging.
Launching innovative products may be expensive and risky but its results are huge as the marketing of GFT (Green future technologies) is dependent on rich families and Canada resembles to be the country that inherits quality people(Cunningham, et al., 2019).
2) Pricing strategy
As it is discussed earlier the type of customer could be involved with us in the international market. Based on these customers various Pricing strategies could be set out in global countries to enhance the services or exports of the Green Future technologies into the new international market. The best method for sales generating in Canada for renewable resources products or services in the industry includes the Keystone mark-up method. As people with the requirement of branding products will reach more and more and would lead to a healthy profit margin.
Another way of marking price is value-based. Along with rich families, there are also many average communities present in the international market. Through pricing based on the willingness of customers, the revenue could be maintained and competitive pricing could be overall maintained. For trust-based customers, pricing should be appropriate for branded and effective technologies of energy resources.
Along with the above processes, sustainability would be the priority in every strategy as it is a basis that customers required.
3) Positioning strategy
A positioning strategy is based on composing brand awareness among individuals that were closely related to that industry. For effective brand marketing, the products must be produced and advertised in a way that they reach the customer’s mind and attract them towards the quality of the product. Various effective strategies that could be used for branding include-
- A) Customer service strategy
- b) Convenience-based strategy
- C) Price-based strategy
- d) Differentiation strategy
- E) Quality-based strategies
4) Place or distribution strategy
This includes various types of creative work that are required for the development of strategies to distribute the products of GFT (Green future technologies) that were exported to international markets like Canada. It contributes to the policies and procedures that were developed in the Green Future technology industry to get the products to the customers effectively.
This can be done through-
- A) Direct distribution process- it includes the distribution process done with the involvement of the manufacturer that works as taking orders and providing them with the products.
- B) Indirect distribution- In this process, various types of retailers and agents were involved and distributed the products of GFT (Green future technologies) through their marketing skills.
Various other methods could also be used for the distribution of products that includes Intensive, selective, and exclusive distribution.
5) Content marketing
This contributes to the promotion of the technologies and the services of the GFT globally with the help of providing information, tips, and advice to use that particular technology effectively with the help of content marketing on the necessary topics ideal or key customers are interested and requires education or information in the targeted market.
6) Promotions Or communication strategy
This process refers to the activities that are involved in the process of marketing to reach the target market or audience. Several strategies and communication tools would be very effective in promoting the updated and modified renewable resources of energy that are sustainable. These promotion tools may include-
1) Advertising of the branded products made with effective raw material
2) Direct marketing
3) Internet marketing
4) Public relations and sales promotion(Wassermann, et al., 2015).
Social influencer will be used for the promotion and the sales purpose of the product.
Sale steam will manage all the required things that is relevant to increasing the sale of the product. The cost will be enough to gain profit that will cover the manufacturing and transportation cost. There will no website will be used in it. We will pay third party services for the promotion of the product.
7) Customer journey strategy
This refers to the development of a plan that helps in enhancing the experience that the customers experience with GFT (green future technologies) from the beginning to their finish. This could be enhanced through the following strategies that are-
- A) Through identifying the customer’s engagement with the industry.
- B) Recognizing the present scenario of the customer’s journey.
- C) By developing new ideas and objectives customers strategy could be improved
- D) customer journey strategy could be made effective with correct investments.
8) Strategic alliances
This contributes to the working exportation of GFT (green future technology) products in the international market with the help of working with the competitors that are too much close to the customers in the targeted market. This would allow the company to get the necessary information about the customer’s behaviour and much more.
9) Selling strategy-
This refers to the start-up of the organization in an international market such as Canada and how the sales team contributes to closing the customers that could be made effective with the proper decision-making process, actions, and various innovative ideas. Sales strategies that could be used in GFT (Green future technologies) that were exported to the global market include-
- A) Increasing sales through online means
- B) Research and qualification of prospects.
- C) Demonstration of the product
SECTION 3: Execution
The go-to-market strategy involves partnering with local retailers and contractors to distribute and install the products. It will also offer the products directly to consumers through the e-commerce platform. The pricing model will be competitive and will vary depending on the product, with options for outright purchase, leasing, or financing. The marketing efforts will focus on educating consumers on the benefits of the products, leveraging social media and content marketing, and attending trade shows and events (Massa, et al., 2017).
The costing that has been assumed is based on the research done by observing the rivals and related things so that a budget can be prepared which is flexible and have an area for covering the error.
It plans to establish strategic alliances with utility companies and green energy organizations to promote the products and offer incentives for customers to make the switch to sustainable solutions. The product design and packaging will be aesthetically pleasing and eco-friendly, emphasizing the sustainability of the products. It will initially operate from a central location with a small team of dedicated professionals who share the vision and values.
It plans to establish strategic alliances with utility companies and green energy organizations to promote the products and offer incentives for customers to make the switch to sustainable solutions. The product design and packaging will be aesthetically pleasing and eco-friendly, emphasizing the sustainability of the products. It will initially operate from a central location with a small team of dedicated professionals who share the vision and values.
With the objective of sustainability in every part of the business planning for the marketing of renewable sources of energy in the global market, that includes various effective strategies like pricing strategies for different varieties of customers, product strategies, positioning strategies and so on that would be very effective in developing a targeted market, ideal customers and key customers for the quality-based products like solar panels, LED lighting and smart thermostats. As it is mentioned above local retailers and contractors were effective in distributing the products and services.
Various other strategies would also be effective in dealing with the marketing of energy resources in the international markets. Such as recruiting workers for getting help in undertaking several tasks. As well as, at every level of the marketing of the products and services, there is a requirement for the monitoring of the policies and procedures required for the sustained overgoing of the marketing through the global and international markets, so for all the procedures and for monitoring the business planning experts need to be hired in company and policies must be developed as per the requirement. Execution of the strategies was also required at the stage of technologies that were used for the sustained development of the business (Dudin, et al., 2019).
It also contributes to the use of valid and optimum strategies for selling and exporting services or products in the international market with in-line, online, direct and multi-level marketing which are the top priority in the modern world.
These operations would be a success in approaching the ideal and key customers where other operations might have failed to develop their product customer relations.
Sourcing and fulfilment of the products are generally with the manufacturing at the headquarters of the organization and that would be the effective approach for this business.
SECTION 4: Company Overview and Team
The mission is to create a more sustainable future for myself and the planet by providing innovative and energy-efficient solutions. I am the sole proprietor of this business.GFT (Green Future Technologies) will be the official name of my business, and it will be legally registered in Montreal, QC, Canada.
The estimated legal fees to start an LLC is found to be around $300 to $400
My role in the everyday business will include planning marketing, meeting with local distributors, setting up an E-commerce profile and uploading my products online for sale. I will have my family and friends from different fields to help me with the start of my business.
My team will consist of professionals with expertise in engineering, product development, marketing, and sales. It will be a flat organizational structure that fosters a collaborative and innovative culture. The team members will be driven by the values of sustainability, transparency, and social responsibility.
The external resources will be paid from the investment amount and from the company profit fund.
Overview of the company:
They of the Green Future technologies have a flat structure and a C-level title so that the respected communication can be between the levels of the organization team.
Mission statement
The mission of the company is to provide services to the customer with a sustainable idea. The mission of the organization is “sustainable development”. The organization aims to provide the services in such a way that it will not compromise the requirement of future needs (Imbabi, et al., 2012).
Business structure and overview
As Green future technologies are Start-up Company it includes a flat structure and it is the sole proprietor as it is a member of the domestic limited liability company. The organization is owned by the unincorporated. The team has skilled in managing the structure for pricing of the supplying contractor.
The organization also has some external partners that affect the performance of the organization. Some of the external partners are marketing agencies and technical consultants.
Marketing agencies: Marketing agencies help to provide the strategies and plan for implementing the marketing agenda of the organization so that targeted market retention can be increased.
Technical consultants: They help to solve the problems of the organization related to technical issues.
The external partners are not involved in the business but they help to execute the business plan and have a list in the payroll of the organization. They are provided income for their services when they are involved in solving organizational problems but do not have a partner in the organization.
The team is required to develop the idea for the customer bagging. The team of Green future technology has the skills of clear communication and patience to increase the retention of customers. Having an empathetic team and flexible approaches the team is required to relationship with the customer so that the pricing of the product can be secure.
The business has partnered the local retailers and also with contractors to distribute the product installation. The pricing model is decided for secure price for the contracts supplying. Securing the contract supply needs to have the right people for the business plan. For securing the relationship it is required to have the balance equations and transactions for the strategic planning. This is the way to provide new value added in the strategic plan (Lorek & Spangenberg, 2014).
Company History
Green future technologies are a start-up company that involves services for import and export. It involves the services for trading. The company’s main focus areas from the past are related to sustainability. The company’s goals and ideas are for the growth of the company in the organization in a sustainable way.
Location
The company is located in Montreal, QC, Canada. The business also requires manufacturing facilities from the producer of products in large amounts. Handling the products includes the inspection types of equipment, control manufacturing system for the operation handlings the required operation in the organization. Probably need a minimum of 3000 square feet to receive, assemble, store, ship + office space. Warehousing: The warehousing required for storing the items that are used for transportation.
SECTION 5: Operations
It intends to operate the business through a combination of in-house and outsourced operations. The products will be sourced from reputable suppliers who share a commitment to sustainability and ethical business practices. It will have a robust logistics system in place to ensure timely delivery and minimize the carbon footprint (Massa, et al., 2017).
This will be done with the important stakeholders and the necessary share holder to get the desired results.
It will leverage technology to automate business processes as much as possible, including order management, inventory control, and customer service. It will use cloud-based software to streamline operations and provide real-time data analytics to make informed business decisions. At the start Excel will be used until the business rolling then some other things that be discussed will install for better results.
Technologies for the operation of the business:
It includes all technologies for the operating of the business like digital marketing which is required for the marketing of the business and managing the relationship with the clients. Using effective tools for the critical development of the business and providing the logistics solution in controlling the finances of the organization.
Sourcing and fulfilments:
The products are imported from the manufacturing industries through the use of the technologies transportation system including trucks and other kinds of the transportation system. Supply chain management systems are required for the delivery of the products. Sustainable products like solar panelling are distributed through deploying the tools and technologies. The energies are stored in the form of electricity (Domínguez & Framinan, 2013).
Distribution:
The microeconomics allocations are the required objects in the distribution of the products. The supply chain systems are used for the distribution of the products to the end users. Green channels are used for distribution purposes in the supply chain including the storage of products in the inventories, processing of the order, packaging, and final delivery Kersting, 2017).
Direct distribution:
The using of direct distribution involves the delivery of the products directly to the consumers and this includes wholesaling and providing the products directly to the distributors so that companies can directly sell the products in the hand of the customers.
Retail distribution
In this, the company will use the source products and manufacture the products for selling them directly to customers. The company can have multiple distributions that include wholesaling and selling it directly to customers. Retailing can be done when selling the products directly to the retailers.
Milestone and metrics
The milestones and metrics are required for the scheduling and taking a step on it for the development of the company revenues and business. The organization manages the work statement through the milestones strategies and provides the contact for the complaints of the campaign. These are the following milestones that are required to achieve the growth of the organization.
| Milestones |
Who’s responsible |
Due date |
When date |
| Launching of marketing campaign |
Marketer manager |
24-04-2023 |
25-04-2023 |
| Exportation channels |
Manager |
24-04-2023 |
25-04-2023 |
| Strategies for growth |
Manager |
24-04-2023 |
25-04-2023 |
Traction of the milestones:
The traction involves creating the activity that is used to notify the milestones for attracting the possible investors and producing a plan for the milestones. Traction helps to speed up the business and accelerate the speed growth of the organization and helps to achieve the desired growth for the organization. It is a way of showing how the business is taking off in the market. Stages gates are the tractions goals for the organization and need to achieve for the growth of the organization.
Third-party logistics contain the management of warehousing so that the products can be transported through the use of the transportation system like trucks and two vehicles. 3PL method will be used for finished product. If the products are transported to other countries then it is exported with the help of shipping by water and also using the airlines (Li, et al., 2018).
SECTION 6: Financial Plan
It will elaborate on the financial plan for the upcoming business project, but the initial capital requirements will be met through equity financing and other investment. The revenue streams will include product sales, installation fees, and maintenance services. It will prioritize profitability while reinvesting in product development and marketing initiatives to drive growth. The financial projections indicate a steady increase in revenue and profitability over the next five years.
Metrics for financial planning include the cash flow, Profit, and Burn rate. The company Future green technologies contain the metrics for future growth that includes climate risk, carbon emissions, and wastage of products (Hanssens & Pauwels, 2016).
Matrices for the benchmarks for the financial planners and used to guide the financial goals as well as objectives of the organization. Matrices for the organization track the issues that can hinder the objectives of the organization.
Climate risks are the factors in business growth that can hinder Green future technologies goals and agenda.
Climate risk is a factor that can hinder the development of the organization. It hinders the goals of the organization for sustainable development.
| Total investment made during the year |
$ 100000 |
| The daily amount of money coming in |
$ 40000 |
| The daily amount of money goes out |
$ 50000 |
| Power consumption |
20000 kwh |
| Total products be exported s |
500 per day |
Financial planning:
The initial investment required for the business:$100,000.
The products of Green Future technologies include LED lighting, smart thermostats, and solar panels. Some products generate revenue for the company(Xiao & O’Neill, 2018).
Sales forecasting for 1 year in terms of revenue
| Products sales |
Jan |
Feb |
March |
April |
May |
June |
July |
Aug |
Sep |
Oct |
Nov |
Dec |
| LED lighting |
$ 1000 |
$1000 |
$2000 |
$3000 |
$2000 |
$5000 |
$5000 |
$5000 |
$3000 |
$ 3000 |
$400 |
$ 3000 |
| Smart thermostats |
$ 5000 |
$2000 |
$3000 |
$4000 |
$3000 |
$2000 |
$1000 |
$3000 |
$2000 |
$ 4000 |
$4000 |
$5000 |
| Solar panels |
$10000 |
$20000 |
$5000 |
$ 5000 |
$10000 |
$30000 |
$50000 |
$20000 |
$6000 |
$ 4000 |
$10000 |
$ 13000 |
Main expenses:
Transportation of the products is the required expense for the Green Future technologies.
Importing of products from other sources
Funding requirement:
Funding for the company comes from the government scheme for sustainability, and financial loans from the bank.
For funding purposes the collaboration with other partners and buying loans from the bank so that the financial plan can be met for the expense. This expense is to produce the profit out of the planning.
The initial amount started at $100,000.
The money is used in the import, export, and bringing of raw materials for manufacturing.
The financial planning includes all the expenses related to the company’s development and achieving its goals as well as objectives
Revenue sales forecast:
|
Jan |
Feb |
Mar |
April |
May |
June |
July |
Aug |
Sep |
Oct |
Nov |
Dec |
| Training |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
$ 1000 |
| Transport |
$2000 |
$3000 |
$1000 |
$3000 |
$4000 |
$2000 |
$3000 |
$3000 |
$4000 |
$3000 |
$2000 |
$2000 |
| Product sales |
$5000 |
$10000 |
$ 3000 |
$5000 |
$6000 |
$7000 |
$8000 |
$8000 |
$9000 |
$8000 |
$9000 |
$10,000 |
Expense forecast
|
Jan |
Feb |
Mar |
April |
May |
June |
July |
Aug |
Sep |
Oct |
Nov |
Dec |
| Electricity |
$ 500 |
$ 600 |
$ 700 |
$ 500 |
$ 400 |
$ 400 |
$ 450 |
$ 400 |
$ 400 |
$ 460 |
$ 450 |
$ 600 |
| Internet excess |
$1500 |
$1000 |
$1200 |
$1500 |
$2000 |
$1200 |
$1300 |
$1300 |
$1400 |
$1000 |
$1200 |
$1000 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
Profit and Loss Statement
|
Year |
| Revenue |
|
| Product sales |
$ 500000 |
| Training |
$ 3000 |
| Exporting material |
$ 50,000 |
| Total Revenue |
$ 553000 |
| Expenses |
|
| Electricity |
$700 |
| Import expense |
$2000 |
| Equipment |
$1000 |
| Research development |
$2000 |
| Marketing expense |
$8000 |
| Total expense |
$ 14700 |
| Profit |
$ 538300 |
Green future technologies have the generating sales by selling their product and transporting it to other countries and locations based on the requirements. The sales are also generated by providing training for the improvement in a sustainable way and giving information on how to produce sustainable development to other countries. The organization generates its revenue by the exporting its material to other places according to the requirement of the customers.
The expense for the Green Future technologies is due to using of electricity by the organization and using of the equipment in the generation of the products. Raw materials are also for the production of products this includes the expenses for the production. The expenses for the organization also include marketing strategies. Marketing strategies are required for generating retention of the customer so that more revenue can be generated.
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