Brian Crowder Anita Weintraut Emily Kent Phillip Kramer Kyle Hanna Evan Gosser
Introduction to Marketing Analysis Dr. Hank Feeser Jeff Crites
MGMT 323
Barriers of Entry relatively high, but decreasing No Real Taxation Issues (other than standard regulations) Well-balanced market amongst most major competitors (most are 3% of market or under)
Positive benefits more effective than negative punishment or guilt Most effect strategies to change behavior are are practice, generating self-talk, and setting specific, manageable goals. Health and well-being and proactive care of the environment becoming critical societal focuses. Majority of adults seek quality and commitment Young adults centered around combination of tradition, word-of-mouth, online reviews, and a low level of concern for social status. Tweens growing to be more focused on short-term gains, popular items of status, and objects largely associated with social appeal.
What Businesses Can Do and What Can Be Done For Them What Residents Can Do and How Companies Can Help Them What REMCs Can Do to Further Encourage a Change in Behavior
The energy, the faith, the devotion which we bring to this endeavor will light our country and all who serve it — and the glow from that fire can truly light the world. John F. Kennedy
Accounts for 64% of the total market (34% Commercial and 30% Industrial) Businesses vary in products and services Some companies already focusing on reducing energy waste ("muda")
Individuals or teams within the company researching and implementing energy saving ideas. Can be paid time or on employees' spare time. Companies can provide various incentives, such as: 100% (estimated) company savings first month of implementation to employees 40% every month after Allows companies to still reserve savings, and allow for future allocation if participating employees retire, are fired, or seek employment elsewhere. Some sort of recognition should be utilized!
Companies themselves can take proactive stance in saving energy/being environmentally responsible. Potential extension to free community PR via newspapers or local news stations. EX. Subaru's Zero Landfill Policy Programs can be adopted by smaller companies Many corporations are well recognized locally, nationally, and globally for setting the bar on energy and environmental conservation in today's society.
Companies can encourage employees to be less wasteful of energy in their own homes. Method of measurement is bringing in monthly bills and showing a regular decline, as well as presenting information as to what employee(s) did to reduce energy usage. Some incentives could be: Special invitations to energy conservation meetings A plaque recognizing achievement (yeah, the modern equivalent of the "world's best employee" coffee mug) Other small rewards or means of recognition. EX. Enkei America offers trip to Japan for highest "Help Points" earned Small rewards and a little recognition can go a LONG way!
Small segmentation, but... > PRIORITY TARGET MARKET SEGMENT < Businesses consist of people. A lot of people live in houses. These houses are powered by energy. Energy is also consumed by businesses. Businesses consist of people. See the cycle? Changing the social behavior of individuals in households can and most likely WILL change the social behavior of businesses. Surveys = good (as long as there is an incentive)
Gather information regarding CURRENT setup of houses. (i.e. square foot, number or people, energy star appliances?, insulated or no, etc.) Information will be compiled into a database. Relayed in one of two ways: Personalized Newsletter Energy tips attached to bill Costs to implement: Additional employee to compile database (or train current employees) Requires time to sort and analyze data/convert into information. Potential cost to supplying incentive in filling out survey (5 - 10% off one month bill)
Underwriters Laboratory
Include potential savings juxtaposed with current costs Include a FEW small, easily manageable goals If consumer has gone "paperless," add into billing statement (next to bill) DO NOT ADD AS POP-UP or SPLASH SCREEN! (heavily ignored) Additional costs to implement: No additional costs necessary apart from survey/database costs
Strike potential partnerships/sponsorships with companies to offer incentives to specially recognized consumers Members inclusive of households/businesses below a specified kw/d useage kw/d kw per sq. ft. per day = kw per sq. ft. per day = kw per sq. ft. per person sq. ft. # of people in household KW per sq. ft. per day per person puts houses at equal level of measurement Offer rebates, special services, assessments, or other specials
Rebates Discounts Offering Promotional Periods for FREE installation of energy efficient products already purchased (some consumers do not know how to install products)
Businesses are run by people REMCs are no exception Responsibility not limited to consumers It's not the change that's difficult. It's the TRANSITION. Key Concept: LEAD BY EXAMPLE
Currently: The higher the kw/h used, the lower the rates become. Proposed Modification Residents - INVERT kw/h rate (modify to "the more kw/h the higher the rate"). Businesses - create a "flat" rate ensures businesses are not necessarily PUNISHED but rather ENCOURAGED
Important to LEAD BY EXAMPLE Show community/target market that REMC is not just saying "Do as I say, not as I do." Shows social responsibility is TRUELY desired. Can be shown in newsletter, PR campaigns, or other public medians. Adopt good behaviors into habits. Other REMCs/Competitors may follow suit. May incorporate "Employee Energy Commitment Program" COSTS VIRTUALLY NOTHING EXCEPT FOR TIME!
Sponsor/host annual energy savings fairs Seek innovative ways to get in touch with community Make elementary/middle/high school appearances (MAKE THEM VERY INTERESTING) Typically things that explode are exciting People learn best when legitimate humor is introduced into lectures However this is done, show community that your REMC show that it cares about the consumers and saving energy!
"U.S. Household Energy Consumption." Underwriters Laboratories, Inc. Underwriters Laboratories Inc. 24 Nov. 2008 . Nauert, Rick. "Positive Rewards Foster Behavioral Change." Psychcentral.com. Psych Central News. 20 Nov. 2008 . “Duke Energy Corporation.” Duke Energy Corporation. 26 Nov. 2008. “IBISWorld US Electric Power Transmission, Control & Distribution.” IBISWorld. IBISWorld. 2008. 28 Nov. 2008. “Department of Energy – Homepage.” U.S. Deparment of Energy. U.S. Deparment of Energy. 27 Nov. 2008 “GE: imagination at work.” General Electric Company. General Electric Company. 2008. 28 Nov. 2008. “Subaru.com Homepage.” Subaru of America, Inc. Subaru of America, Inc. 1 Dec. 2008. “ENKEI GROUP” Enkei America. Enkei America. 2 Dec. 2008