Importance of Solar Panels and Home Batteries
This report focusses on consumer behavior of Take the power back. It is seen that using households using solar batteries and home batteries are capable of saving the extra energy. It has been noticed that by using solar panels as well as home batteries of Take the power back, it is possible to decrease the electricity bills. It has been noticed that solar panels and home batteries are gaining importance in all over the world including Australia. This is because the energy we get from sun is less harmful and it helps us to protect the surrounding environment. In this particular study, demographic market segmentation is the chosen market segment. Demographic market segmentation will aid the organization to conduct thorough market research on the potential customers based on age, gender, race, ethnicity and religion. In this particular study, households are unable to cope up with rising electricity bills and they are not purchasing solar panels and home batteries.
Advantages of solar panels
In accordance with the opinion of Claiborne and Sirgy (2015), healh benefits are associated with usage of solar panels in households. No emission of air pollutants takes place in households that uses solar panels. In this context, it can be stated that people does not suffer from different respiratory diseases. On the other hand, Xiang, Magnini and Fesenmaier (2015) argued that no emission of greenhouse gases like carbon dioxide, carbon monoxide takes place in households, which uses the solar panels. In accordance with the opinion of Cantallops and Salvi (2014), using solar panels saves the money on the utility bills such as electricity bills. On the other hand, Anderson and He (2015) asserted that solar panels decrease the extent of dependency of the individuals on conventional power resources. In this regard, it can be stated that it is used for generating the portion of home’s power system. From the perspective of Szabó et al.(2017 ), it has been observed that solar panels are easy to maintain. It has been noticed that it is required for the individuals to clean solar panels a couple of times every year. In other words, Easy maintenance of solar panels is one of the greatest benefits of using solar panel. From the perspective of Schwarzer, Buschhorn and Vogel (2014), storage of additional energy is possible in the houses where solar panels as well as home batteries are used on a regular basis.
Advantages of Solar Panels and Home Batteries
Disadvantages of solar panels
There are some disadvantages of solar panels. In accordance with the opinion of Urpelainen (2016), solar panels are costly to install. Although it has been noticed that by installing solar panels, hosuseholds can save money, still it has been observed that initial installation costs are quite high. It has been observed that average costs ranges from $3 till $8. In other words, its initial installation charges are quite higher. This can be counted as a disadvantage of solar panels that restricts the individuals to use them in their households. From the perspective of Mishra, Kaman, and Mishra (2014), in order to operate the solar panels properly, sufficient sunlight is required for transforming it into electrical energy. In this regard, it can be stated that sunlight is only available at daytime. Therefore, there should be a substitute source of energy in order to fulfill the person’s need during night. In other words, over dependency of solar panels on sunlight can be counted as its disadvantage.
Theory of Reasoned Behavior
Martin Fishbein and Icek Ajzan was the propounders of this particular theory. This particular theory tries to illustrate and forecast behavioral intentions. Behavioral Intentions, Attitudes along with Subjective Norms are the main elements of this theory of reasoned action. As per the concept of this theoretical concept, it has been observed that attitudes as well as subjective norms determines the individual’s behavioral intentions. It has been observed that intention is considered as the predictor of behavioral approaches. It has been noted that perceived behavioral control as well subjective norms determines the intention. Apart from this, individual’s attitude towards specific behavior is determined by the intention (Montano and Kasprzyk, 2015). It has been observed that households of Australia are unable to cope up with increasing prices of electricity bills. The intention of the customers is to reduce the electricity bill and store the extra energy for future. As a result, they will focus on understanding the benefits of solar panels as well as solar panels. The proper implication of this theory will influence the people to buy solar panels and home batteries and reduce their dependency on the centralized electricity.
Maslow’s hierarchy of needs:
As per this theoretical concept, there are various types of human needs. The lowest levels of pyramid represent basic needs whereas the top levels of pyramid represent complex needs. Physiological needs are air, water, clothing food and shelter. After these needs are fulfilled, individuals seek for safety and security. The next level is the needs for psychological as well as social needs. Love, affection and care becomes important in the life of an individual. After fulfilling these needs, individuals now craves for respect, confidence, recognition, power and status. As the level progresses, people seek for growth as well as development. It has been noticed that people are struggling to pay increasing electricity bills. Therefore, they are seeking for solar panels that will store extra energy for them and decrease the electricity bills (Anderson, 2014). The appropriate application of this theory will motivate or encourage the people to purchase solar panels and home batteries for their households.
Disadvantages of Solar Panels
Traditional Marketing
In accordance with the opinion of Anderson and He (2015), the marketing which is done through print advertisements, billiboards and newspaper advertisements are termed as traditional marketing. On the other hand, Cantallops and Salvi (2014) commented that traditional marketing is also done through TV commercials and radio spots. It has been observed that traditional marketing increases awareness among the customers regarding the brand’s products such as solar panels and home batteries. In the opinion of Schwarzer, Buschhorn and Vogel (2014), face-to-face interaction enables the person to establish a strong communication with its users and buyers. In this regard, it can be stated that face-to-face contact saves the precious time of the consumers as salesperson directly approaches the customers at the doorsteps or at the outlets of the respective brand. It is seen that this particular marketing strategy reaches a huge mass as they do not identify their potential users as well as buyers. These are the advantages of traditional marketing. Besides, there are some disadvantages too. It has been noticed that people can read newspapers as well as magazines from internet, therefore, they tend to avoid reading printed versions. It has been observed that people tends to avoid reading signs mentioned in the billboard. In the opinion of Xiang, Magnini and Fesenmaier (2015), individuals also changes the radio station at the time of commercial break. These are some of the disadvantages associated with traditional marketing strategy. This marketing strategy is capable of motivating the customers in purchasing the solar panels along with home batteries. The marketing strategy will perceive the attitude of the consumers towards solar panels and home batteries of Take the power back. After understanding the psychology of the customers, managers working at Take the power back will apply traditional marketing methods on them. After mitigating the basic needs, people will start searching for solar panels and home batteries and at that time salesperson of Take the power back will try their best to inspire them to buy solar panels and home batteries.
Internet Marketing
In accordance with the opinion of Claiborne and Sirgy (2015), merchandising via internet enables the company to reach a huge mass. It has been observed that there are several individuals who are using internet on a daily basis. Moreover, Solomon et al. (2014) commented that cost of merchandising the items is comparatively cheaper than internet than that of other methods of marketing. This is considered as an advantage of internet marketing. As opined by Ottman (2017), internet marketing is an effective method of marketing that enables the organizations like Take the power back to remain connected with its existing users and buyers on a regular basis. This is another advantage of internet marketing. It is an opportunity for Take the power back to cross the geographic as well as national boundaries through internet marketing strategy. From the perspective of Appiah-Adu and Amoako (2016.), internet marketing saves time as well as effort of customers. Ottman (2017) commented that Customers can access information from internet regarding the product features, price and quality. In this context it can be stated that customers of Australia can access information from the internet regarding the pricing and features of solar panels and home batteries manufactured by Take the power back. It has been observed that fraudulent activities hampers the security of internet thereby hampering the privacy of customers. In other words, Armstrong et al. (2015) opined that the vulnerability of internet in the hands of hackers can be considered as a major demerit of internet marketing. The vulnerability of internet marketing to the technical faults is considered as a major disadvantage of internet marketing. In other words, over dependency of internet marketing on technology is counted as a major disadvantage. Internet marketing will help Take the power back to understand the requirements of customers regarding the pricing of their solar panels and home batteries.
Theory of Reasoned Action and Consumer Intentions
Word of mouth marketing
In accordance with the opinion of Appiah-Adu and Amoako (2016) word-of-mouth marketing is a cost-effective marketing strategy in comparison with other marketing strategies. This is one of the major advantages of internet marketing. Solomon et al. (2014) commented that individuals who buys goods based on referral , they tend to purchase more than that of other marketing strategies. This is applicable for Take the power back. It has been noticed that it takes time to spread among people. Therefore, this is considered as a major disadvantage of word-of-mouth marketing. It has been noticed that word-of-mouth marketing aids Take the power back to spread the benefits of using solar panels and home batteries among people of Australia.
Recommendation and Conclusion
From the above discussion, it can be stated that internet marketing will be the best marketing strategy for Take the power back. It will enable the company to reach global customers along with domestic customers. Internet marketing will reduce the cost of promoting the solar panels and home batteries that are manufactured by Take the power back. It will help the customers of Take the power back to obtain information regarding the quality and pricing of solar panels and home batteries. In this context, it can be stated that by adopting internet marketing, this particular organization can drive its existing customers to buy their solar panels as well as home batteries.
References
Anderson, A., 2014. Maslow’s Hierarchy of Needs. The Prairie Light Review, 36(2), p.7.
Anderson, P.M. and He, X., 2015. Consumer behavior in East/West cultures: Implications for marketing a consumer durable. In Proceedings of the 1996 Multicultural Marketing Conference (pp. 3-8). Springer, Cham.
Appiah-Adu, K. and Amoako, G.K., 2016. The execution of marketing strategies in a developing economy: A case study of selected market leaders. African Journal of Economic and Management Studies, 7(1), pp.9-29.
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. London: Pearson Education.
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Claiborne, C.B. and Sirgy, M.J., 2015. Self-image congruence as a model of consumer attitude formation and behavior: A conceptual review and guide for future research. In Proceedings of the 1990 academy of marketing science (AMS) annual conference (pp. 1-7). Springer, Cham.
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Ottman, J., 2017. The new rules of green marketing: Strategies, tools, and inspiration for sustainable branding. Abingdon: Routledge.
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