Strategy and Implementation Summary
Safe Current has developed a targeted strategy that allows them to leverage their competitive edge and quickly gain market penetration. Safe Current's competitive edge is its ability to use The Cleveland Illuminating Company's utility status for the sale of house surge arrestors and protectors.
The marketing strategy will concentrate on the ability to offer supreme, inexpensive protection for an entire family's stable of electric and electronic appliances. This campaign will be communicated through various methods and will focus on the product offerings coming from the safe, established TCIC, an icon of Cleveland for over 50 years. Please review the following sections for a more detailed analysis.
4.1 Competitive Edge
Safe Current's competitive edge is their ability to leverage the huge advantage of being aligned with The Cleveland Illuminating Company, an electric utility serving the Cleveland market for over 50 years. TCIC has spent a long time developing brand equity and Safe Current will be able to tap into this equity immediately.
Safe Current will also be able to use TCIC's extensive vendor connections and buying power. The last component of their competitive edge is Safe Current's exclusive ability to install house arrestors. This last edge is a sustainable edge since no other company will ever be able to make arrestor installations, a function of the regulated power industry.
4.2 Marketing Strategy
Safe Current's marketing strategy will seek to communicate the idea that the products that they offer are in effect cheap insurance against large electric and electronic appliance damage or losses.
By proactively purchasing Safe Current's products, customers are able to protect against loss and damage of all of their expensive appliances. While many homeowners probably have some sort of insurance, deductibles are often prohibitively high, making a claim for damage to one or a couple appliances not worth the money. Safe Current will use several forms of communication for this marketing campaign:
- Inserts in Bills: Colorful inserts will be added into the bills of TCIC customers. Currently, the customers are receiving a monthly bill from TCIC and inserts are an inexpensive, yet powerful way of reaching the customers.
- Website: Safe Current will have a website which will be comprehensive in describing the different product offerings as well as allowing the customer to order directly from the site.
- Direct Mail: Another advantage of the relationship Safe Current has with TCIC is the ability to use their customer database. This allows Safe Current to generate a targeted list of customers that they can send product information to.
4.3 Sales Strategy
Safe Current's sales campaign will emphasize the fact that Safe Current is a subsidiary of TCIC. This will be effective because TCIC is a well known, stable electric utility known for its safe and reliable operation.
This idea is evidenced by the fact that almost every time that a consumer reaches for a light switch the light goes on. Sure there are interruptions, often weather related, that interrupt the electrical service, but those interruptions are reconnected quite fast.
The utility is stable and safe and is always working to serve the customer. These electricity related products will clearly leverage the brand equity developed by TCIC over the last five decades.
4.3.1 Sales Forecast
The sales forecast has been developed as a forecast and tracking tool to provide the company with realistic sales goals as well as a way to verify progress. The forecast has been developed as a conservative estimate, not an aggressive sales promise.
By adopting a conservative forecast, Safe Current increases the likelihood of reaching sustainable sales growth. The following table and charts provide more detailed information about the sales cycle, both from a temporal viewpoint and a product perspective.
Safe Current has identified several quantifiable, reachable milestones that will serve as goals that the entire organization will work toward in order to make Safe Current a sustainable business.
The following table details the specific milestones as well provides a temporal timetable for expected completion dates. Following the table is a chart for a graphical representation of the information.