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Bright Light Innovators:
Transcript of Bright Light Innovators:
Krystal Haskins, Sloane Davis, Yunrong Xie, Yanjun Chen
Team of student and faculty from Colorado State University (College of Business and Engineering
Bright Light Innovators
Developed the Starlight Stove
Bright Light Innovators
Created the "Starlight Stove" in hopes to improve the overall quality of life for the less fortunate
Uses 50% to 70% less biomass fuel than other traditional stoves
Thermoelectric generator=converts heat from stove to electricity that can power a small lightbulb
Costs less than the other leading electronic stoves
People in less fortunate countries such as Nepal burn fire for light, heat and food
Fumes from the fire can pollute the air which may cause respiratory diseases
U.S Secretary General noted: 1 out of the top 10 causes of death was indoor air pollution
Deaths of 1 million children under the age of 5. Leading cause of miscarriage and women health problems
Bright Light Innovators chose Nepal
as the initial target market
11% of households have electricity
88% use firewood as a source of energy
Deforestation creates problems because it contributes to erosion and flooding
9.2 Million households in Nepal
Adults make up to $1 and $3 per day
Only 17% of the population live in the urban areas
Social Benefits of the Starlight Stove
Benefits to Population
Less time to collect wood=more time working
Longer hours with light
Family productive will increase by 20%
More light will allow children to gain an education
The CSU team has to come up with a way to sell the stove to the less fortunate while still making a profit
Estimated manufacturing cost=$60
Expects Micro financing organizations to provide loans for families
If units are sold for $80 the loan can be financed at 20% interest for 3 years with payments of $.068 per week
Using SWOT analyze the marketing plan for the starlight stove. Based on your SWOT analysis, what kind of potential competitors, would possibly threaten the stove?
Briefly conclude their pricing strategy. Do you think the loan payment plan for the stove was a smart idea? Why or why not?
Out of different methods of promotion, which method should the starlight stove use to promote the product?
BLI team can joint with local government to promote their product and ask them to subsidize each household if they use the stove.
Give a discount to employees of the manufacturing plant
Employees personal selling may become more persuasive after using it. Emphasize on "saving time to collect wood and less using energy".
Based on your SWOT analysis, what kind of potential competitors, would possibly threaten the stove selling?
New company join in the market selling stoves using same technology.
Develop their brand influence, build customers’ trust.
Offering good warranty, such as change or repair for free.
Lower the price.
New type of stove with solar energy in low cost.
The team should keep on developing their technology, decrease the cost and gain more profit.
Protect and develop customer loyalty for starlight stove.
Briefly conclude their pricing strategy.
Do you think the loan payment plan for the stove was a smart idea? Why or why not?
First, they can persuade some business leaders to sponsor poor people who use their energy-saving products .
Second, government officials can reduce their income tax by using the star light stove. The team can give some discount to their employee as welfare. Their employee can have income and
get benefit from the stove. The employees’ personal selling will be more persuasive after they using it.
Third, when middle class families buy one stove, the team will donate a certain percentage of the amount to those poor families just like TOMS.
3. Out of the different methods of promotion which mentioned should the starlight stove use to promote the product.
Their target marketing is those poor people who lack of electricity.
But I think their target marketing should expand to those have certain income like middle class families.
these new products save energy and money. So they will be accepted by those people who have certain income and want to support environment protection.
since the team prepares to build a plant in Nepal, the cost will lower and promote local economic.
just as what I said before
the stove can be sold in 100 dollar. And the loan payment is a good idea for poor people.
4. What should be the marketing strategy of the Bright Light Innovations team for the Starlight Stove? Why?
2.4 billion people burn solid biomass such as wood, charcoal and coal which is unhealthy to people around the world
Starlight stove creates a safer environment for the families that can not afford a safe stove