Market Analysis and Strategy for Solar Oven Companies Assignment Sample

Detailed Market Analysis and Strategy for Solar Oven Companies Assignment

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Introduction OfMarket Analysis and Strategy for Solar Oven Companies

This assessment will provide a brief description of a company GoSun Solar Oven which is a 24-hour solar oven that also doubles as the most powerful electric cooktop on the market This 7lb (3kg) portable oven is more practical and secure, cleaner, and simpler than a normal grill (Mewes, 2018). The business detail of the company will also provide in this assignment. The macro-environment as well as the PESTEL of the company will depict in this topic. Market and industry analysis, competitor analysis Marketing, and Pricing strategy should provide marketing and pricing strategies. The operation plan will also be part of the description. SWOT analysis and financial requirements will also be picturized here (Thomas et al.,2021).

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Business Detail of GoSun Solar Oven

a solar oven that operates continuously and is also the most powerful electric cooktop ever created. This 7lb (3kg) portable oven is more practical and secure, cleaner, and simpler than a normal grill. It has been intended to be customer-friendly and travel-friendly. When employing solar cooking, up to 80% of the sunlight is transformed into heat. Because it cooks within a vacuum-insulated oven, the electric heater consumes just 80 watts or one-tenth of what a regular electric stove or microwave oven would need to create meals (Anon, 2022). A growing strain on household budgets, environmental harm, and increased time required for fuel and gas collection. The most sensible strategy is to use the unlimited, harmless sun where it shines brightest.

Macro Environment Analysis

PESTEL Analysis

Analysis Descriptions
Political The present coalition administration in the United Kingdom previously claimed They said in their agenda that they want to achieve a rise in carbon reductions to 30%, surpassing renewables. (Debnath et al.,2021). The strategy is fully detailed in the Renewable Energy Roadmap and thus the company GoSun Solar oven. UK remains on course to fulfill the first intermediate outcomes" by boosting Renewable sources account for 3.8% of annual energy generation in the United Kingdom..
Economic For the solar energy industry, numerous economic factors must be considered. To better understand the true costs of developing tidal energy, Ernst and Young published a report that provides a comparison of the anticipated costs for UK tidal stream projects (Widya Yudha, and Tjahjono, 2019).
Social In the UK people are aware of solar energy so the company is able to establish a huge impression in society. Energy is essential in the daily lives of displaced communities, and solar energy has the potential to improve household living standards.
Technological The cost of production of solar energy must decrease for the technology to be adopted by the UK energy market. Other predictions indicate a faster increase in price reduction, which is required for the technology to become competitive. Prices need to be competitive not only with other renewable energy sources but also with traditional power sources.
Environmental The United Kingdom government has pledged to contribute by producing energy with fewer greenhouse gas emissions., air pollution, and acid rain damage, but only if properly managed. By beginning to use solar gas, Other favorable environmental benefits may be omitted by manufacturers. Furthermore, at each level of the project, developers must examine the larger picture and how their behavior may have an adverse influence on the environment.
Legal Businesses must really be aware of the policies, legislation, and/or norms that their commodities will be committed to when they generate new items for distribution to the public. The above is never an easy task. In the case of Strictly Solar and its new SBU, a regulation that could have a consequence on how solar fabric materials are created would absolutely apply to the solar fabric. The same guidelines that oversee the use of solar panels in the production and commercial sectors must also be followed when using solar textiles.

Market Analysis of GoSun Solar Oven

GoSun company's variety of solar ovens is allowing users to recognize the draw of cooking a wonderful dish completely with solar energy. The company experimented with cooking a wide range of items in this transportable, solar-powered oven, from veggie burgers and baked sweet potatoes to mixed-berry muffins, coffee, and oatmeal. People in the UK prefer to cook in the fastest way (The Tiny Life. n.d). The most recent it has seen a huge positive response from the people for this oven.

The savings in cooking fuel purchases are the major source of this solar oven's relatively quick and alluring payback periods. Potential markets for this type of oven include Latin American and Asian nations with sizable rural populations. Also, strongly dependent on LPG, fuel, and dung cakes for cooking are rural communities. In the future, solar ovens will offer an alluring value proposition to such markets.

Pricing and Marketing Strategies

The GoSun offers a handy, user-friendly packaging for our busy lifestyles and was created with simplicity, portability, and durability in mind. The GoSun's design is as straightforward as it is successful in retaining 80–90% of all sunlight that is gathered within its area. The most sophisticated solar cooking equipment available today is made using a combination of the concepts of parabolic reflection, evacuation (for its insulation value), and the greenhouse effect. Over 90% of the evacuated tubes used in the world are produced by the GoSun oven, which sells its goods at competitive prices (Kickstarter.n.d.). They are equipping themselves with pricey jigs, dies, and formers and employing premium materials. Our liaison in China, Adam Moser, is dedicated to collaborating with a skilled manufacturer who values the environment, their workers, and the end product.

This cutting-edge cooking technology has a lot of potential, but they will need to get the GoSun in front of people so they can share the light. It will be necessary to address obstacles to this new school solar cooking programme through the media and on-the-ground presence. These obstacles include recipe modification and complying to a tubular shape. To facilitate the transition to solar-powered cooking, they are already present at events, creating videos, gathering information, addressing issues, and instructing GoSun Ambassadors.

Operation Plan

Extended time needed for fuel and gas collection, environmental degradation, and a growing burden on household resources. The best course of action is to harness the unlimited, safe sun where it shines fullest. When employing solar cooking, up to 80% of the sun's energy is transformed into heat. Since the food is cooking inside a vacuum-insulated oven, the electric heater requires just 80 watts, or one-tenth of the resource that a typical electric stove or microwave would need to produce meals. The oven is designed to accompany you on your excursion and operates around-the-clock regardless of whether there is sunlight at night. takes about 20 minutes to prepare two dinners. Nothing is off limits for the dinner, which will stay extremely well-insulated within the vacuum, including vegetables, rice, casseroles, burgers, wings, fish, potatoes, eggs, bread, cookies, and cake. The entire meal will be kept extremely well-insulated inside the vacuum oven. You can keep heat inside for hours, so there is always a hot, fresh snack available.

SWOT Analysis

Strength Weakness
· The brand has a variety of product · Budget Friendly · Less time and energy consuming · Prepare multiple dishes(MarketWatch. n.d.) · Not the best for water or other liquids · Everything must fit into a 2 inch tube (TheExpressWire n.d.).
Opportunities Threats
· Inhaling smoke from cooking fires, and petroleum gas causes respiratory problems. Great business prospect · Sustainable environment · Report provides information on business opportunities and economic status by country. · operates with at least some solar power. This could be beneficial for competitors · Need more market research · Compared to typical camp stoves, it may be a little pricy for some extent.
5000
Supplier Cost 8000
Maintenance 2900

Conclusion

The demand for solar oven companies is also boosted by the introduction of cost-effective technologies in comparison to traditional renewable resources and the development of new solar-powered technology. This assignment provided the macro environment and the PESTEL of the firm. Analysis of the market, the industry, and the competition and the provision of marketing and pricing strategies are necessary. The description will also include the operation strategy. This will also provide a picture of the SWOT analysis and the budgetary requirements. Nonetheless, a lack of knowledge in developing nations and the maturing of the solar oven business in industrialized nations may restrain the market's expansion. However, unrealized potential from developing economies is expected to create fresh possibilities in the near future.

References

  • Mewes, D., 2018. Applications of Solar Thermal Technology for Plastic Waste Management in Developing Communities.
  • Thomas, P.J.M., Sandwell, P., Williamson, S.J. and Harper, P.W., 2021. A PESTLE analysis of solar home systems in refugee camps in Rwanda. Renewable and Sustainable Energy Reviews, 143, p.110872.
  • Anon, (2022). GoSun Solar Oven Review: A Few Things You Need To Know... [online] Available at: https://www.trailandkale.com/gear/gosun-solar-oven-review-fusion/ [Accessed 18 Nov. 2022].
  • Debnath, R., Bardhan, R., Reiner, D.M. and Miller, J.R., 2021. Political, economic, social, technological, legal and environmental dimensions of electric vehicle adoption in the United States: A social-media interaction analysis. Renewable and Sustainable Energy Reviews, 152, p.111707.
  • Widya Yudha, S. and Tjahjono, B., 2019. Stakeholder mapping and analysis of the renewable energy industry in Indonesia. Energies, 12(4), p.602.
  • The Tiny Life. (n.d.). GoSun Sport Solar Oven: Best Solar Oven Reviews. [online] Available at: https://thetinylife.com/gosun-sport-solar-oven-review/ [Accessed 18 Nov. 2022].
  • MarketWatch. (n.d.). Solar Cookers Market Size In 2022 | No of Pages 119 | SWOT Analysis, Share and Trend, Regional Outlook, In-depth Insights by Profiling Key Players and Forecast to 2026. [online] Available at: https://www.marketwatch.com/press-release/solar-cookers-market-size-in-2022-no-of-pages-119-swot-analysis-share-and-trend-regional-outlook-in-depth-insights-by-profiling-key-players-and-forecast-to-2026-2022-08-25 [Accessed 18 Nov. 2022].
  • Kickstarter. (n.d.). GoSun Stove: Portable, High Efficiency Solar Cooker. [online] Available at: https://www.kickstarter.com/projects/patricksherwin/gosun-stove-portable-high-efficiency-solar-cooker [Accessed 18 Nov. 2022].
  • TheExpressWire (n.d.). Solar Cookers Market Size and Growth Opportunity 2022 Latest Technologies, Recent Trends, Global Share, Recent Trends and Top Key Players Forecast by Regions till 2026. [online] Digital Journal. Available at: https://www.digitaljournal.com/pr/solar-cookers-market-size-and-growth-opportunity-2022-latest-technologies-recent-trends-global-share-recent-trends-and-top-key-players-forecast-by-regions-till-2026 [Accessed 18 Nov. 2022].
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