New Venture Strategy - Entrepreneurship Essay Example | Topics and Well Written Essays - 1000 words

New Venture Strategy - Entrepreneurship - Essay Example The biggest consumers of electricity in Pakistan for non-public use are domestic or household consumers, as specified by the Government of Pakistan Finance Division, with the industrial consumers ranking in at number two (Finance.gov.pk, 2011). 2- Marketing Plan Market segments: Individual Customers The targeted group of people for this product will be the upper and upper middle classes of Pakistan. Based on the information available by the Federal Bureau of Statistics Pakistan these people will make up the topmost percentile of the urban population. (Statpak.gov.pk, 2008) As a group, the customers of this Solar Energy project will: Own a house Have a monthly household income of more than Rs26,000, majority of which will be contributed by their salaries, residential property and non agriculture activities Will belong to major metropolitan cities of Pakistan Appreciate the necessity of having alternative sources of energy, especially for household use Upper Class: The upper class indi viduals of Pakistan have high incomes through business, land-ownership or profession; they have a very carefree lifestyle because they have the means and the money to live as they want. They live in highly modern, well-equipped houses. They are mostly self-employed or are top level management in big multinational companies. They also like to travel. Upper Middle Class: They have sufficient yearly income to sustain a decent standard of living. Well educated and hard working people, they live in self-owned houses and have good jobs at respectable places. Housing Projects Market Another target segment for the company is that group of builders, contractors and architects who are involved in the house building market. They are actively involved in creating houses and then selling them. They will be very interested in a company that can offer them to create solar power services for the entire house. Competition Energy is provided to the Pakistani consumer by the government through its ent ity called WAPDA (except in Karachi). However, increasing demand and limited supply – which shall be discussed in detail later – has rendered the government incapable to servicing all customers. There have been private companies which have identified this huge market opportunity and offer various solutions. In the solar energy field, there are many small companies that are importers of the solar equipment and offer various solutions to their clients. Some of the few key players in the industry are: 1. Trillium Pakistan (Pvt) Ltd: Located in Lahore, this company offers various solar energy products including Solar Modules of various capacities, rectifiers, charge Controllers, solar pumps and inverters (Trillium-pakistan.com, 2011) 2. Siemens Pakistan: They offer solar energy solutions, according to their website , in telecom solutions such as optical fibre and exchanges, water pumping, household use, lighting and highway communication. Most of their work seems for profe ssional and industrial use. (Siemens.com.pk, 2011) The alternative energy sector in Pakistan is very new and is undergoing constant change through new entrants and failing companies. While there are some companies in Pakistan which offer alternative solutions for energizing household products such as solar system for grill and solar system for water