Name : Saqib Liaqat

Summited to :- Ms Sundas Raja

Submitted on :- 15/10/19
Subject :- Principles of Marketing

Proposal for launch of the Hybrid DC Invertor

Product Name: Hybrid DC Inverter

ABOUT HOMAGE:
Established in 2007, Homage is now a leading brand in power and home appliances industry
of Pakistan. Homage is now a name synonymous with strength, quality and performance
which is why the brand pays Tribute to Good Living.
With over 11 years of service, Homage has not only expanded its product line in Pakistan's
Power and Home appliances category but it also has 24 official service centers spreading all
across the country. Homage power appliances include Solar panels, Generators, Inverters,
Gel and AGM Battery while Microwave ovens and Water Dispensers fall in Home appliances
category of the brand.

About product:
Hybrid inverters can generate electricity from solar energy, batteries, grid, or emergency
generator. It offers full protection from any power problems without internal switching.
Hybrid technology also automatically chooses the most economical power solution for the
customer which also makes it highly popular among consumers.

Marketing program:
Planning process:
Planning process is involved in following steps.

Analyzing market:
According. To current situation of the market there are more than 10 competitors of the
homage that are producing hybrid dc inserters right now. But these hybrid inverter are very
costly and are mostly designed for upper class and upper middle class. So therefor my idea
is to bring this product to middle and lower middle class because this class makes the major
junk of the society, so this product will be affordable for all type of customers.

Selecting target market:

As I mentioned earlier that lower middle and middle class combine to make major junk of
the society so target market for this particular product will be these two classes though the
upper classes can also buy but the main feature of affordable price will target main the
above mentioned classes. As fr as placement of the product is concerned it will be placed
on shops of batteries and whole sale dealers.

Designing marketing strategy:

It will be designed in the oval shape as this shape is very popular among consumers and
survey tells that it is most liked by customers. It’s packaging will be in such a way that it will
keep inverter safe from any kind of breakage and damage and will also be easy to carry. And
it’s advertisement will be done on television with celebrity having a reliable reputation
among the public because consumer will buy this on behalf of their favorite reliable
celebrity. Moreover one year warranty will also be given in order to build good customer
relationship.

Developing marketing program:

In this stage of planning we will be hiring people and give them proper training so that they
can become our representatives in the market while dealing with the whole sale dealers.
Training of employees is very important as these people will be our spokesperson who will
be providing guideline and all features of our product. We will put our plans into action and
will promote our product.

Managing marketing efforts:

In this step we will see that whatever we have started is it going in the right way as we
planned. Are we going on the right track. And if. Ot we will take corrective measures so that
our plan will be again on the right track. We will analyze what strategies are being opted by
our competitorsafter the launch of our product and then we will rebuild our strategies on
the basis of that.

Type of need:#
Above mentioned product falls u see the category of real need as customer is willing to pay
for it in return of the features that are bei g provided by product.