Potential legal & regulatory environment
The possible legal and regulatory requirements for launching a solar panel car could be the Acquisition of license to market such products for which a particular amount of fee can be charged. Moreover duties can also be imposed on the import of solar cars in order to support local industry, but keeping in view the sheer need of alternative energy cars this is very unlikely to happen.
Potential Social Economic
Initially it can be very hard to sell out this product, since lack of awareness of people of such products , in this regard some heavy promotion and programs are needed to be run to educate the potential customer and target market. It is also feared that, the target market could be reluctant n adapting this product in early stages due cars perception of being very cheap and economical. People might want not to be portrayed in a class who buy the cheapest possible product. In contrast this solar can give us a chance to convert all those potential customers who buy motorbikes into our real customers, since you can get a car in a price of a motorbike.
When it come to solar car , the marketing “P” of personnel plays a vital role , since it’s a new product , people lack knowledge about it , so there needs to be some very competitive sales personnel. They need to demonstrate full knowledge of the product and be able to translate each feature of the car into benefits for the potential buyer. In short it all depends on the sales people how they satisfy the potential customer, more over the marketing people shall be such who can make strong value proposition at the same time who are able to educating the potential customers through it. Planning
Planning is the key to success for a product which is very new to market, you need to plan everything in advance, and contingency planning also helps to mitigate the risk. So when it comes to solar car, you never know what the acceptance level of this product...
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