ITER nuclear reactor is the current and most fantastic technology on the market. It involves prototype which is the hottest stuff in ITER that enables the creation of a magnificent form of energy. ITER is the nuclear fission reactor being developed to curb the problem of energy insufficiency in the world today. ITER is a nuclear fission reactor that enables the production of power through the magnificent explosion of nuclear reactors in a controlled manner thus releasing energy (Koizumi et al., 2018). This paper aims to shed some light on the marketing strategies of ITER by focusing on the identified marketing segmentation, market differentiation, qualitative research, quantitative epistemology, opportunities and possible threats encountered during the market introduction of ITER nuclear reactor.
The Strategic Marketing Framework
ITER is a new product in the market thus it requires structured marketing strategies to enable it to pick in the market. ITER as further product commercialization has to figure out various market search and customer awareness criteria. Consequently, there should a proper market segmentation according to Koizumi et al. (2018) to appropriate segments after spreading the awareness of the product as a way of broadening up the market share of the product in the market (Koizumi et al., 2018). Through market segmentation, differentiation of the product should be enhanced to suit the needs of the market.
Qualitative and Quantitative Data and Market Analysis to Determine Market Feasibility of ITER
Qualitative Research to be Employed
In determining the market feasibility, there should be structured interviews to assess the acceptability of the product in the market with the prior knowledge that nuclear reactors are dangerous elements and consumer market might have a general fear of alluding to ITER as an energy producing machine (Koizumi et al., 2018). Therefore, there should be extensive questionnaires to be used on people in both sub-urban, urban and suburb areas. Qualitative data should also be collected concerning the use of the product and dealing with all customers as a way of enhancing customer loyalty (Koizumi et al., 2018). The market is full of various options of energy production. Thus, ITER research should aim at making a unique machine that will attract the public attention towards acquisition and use of the product.
Quantitative research should be speculated concerning consumer protection when using the product to enhance market acceptability of the product (Fantz et al., 2018). ITER technology is new to the market and that the nuclear reactors are mostly used in producing massive energy for instance in making explosives (Fantz et al., 2018). Therefore, the best way to enhance the acceptability of the product technology in the market is by barking up the technology with a qualitative test of the technology to boost the market's appeal towards nuclear reactors (Fantz et al., 2018). Safety precautions of using the new technology should be accompanied by quantitative research using samples of the ITER technological nuclear reactors.
The Potential Threats are Encountered During Market Introduction of ITER Nuclear Reactor
Prototype in ITER diverter is so high to the point that they release energy ten times than a space vessel that is re-entering the Earth's atmosphere. Another potential challenge is the removal of impurities that are exhausted from the machine (Fantz et al., 2018). A new product faces various problems in the market. Many customers tend to maintain their loyalty to the products that have stayed in the market. For that market, the potential threat is neglect of ITER technological energy machine due to the fear of nuclear reactors (Koizumi et al., 2018). In minimizing the potential danger of lack of customer attraction to allude to the new technology, there should be much more than the essential advertising which is usually on the radio and TVs to a more structure advertising that teaches the public on the way of using the product (Fantz et al., 2018). ITER portrays a prestigious machine for energy production that is desired by the public, but that does not guarantee a healthy use that is mindful of the safety of the people using them.
Another potential threat is that ITER has a weakness of maintaining satisfaction in delivery as it has not adopted online business models (Fantz et al., 2018). The company should invest in e-commerce as it is the top trending business that complements the customers who have a tight schedule. Civil construction surcharges and can render the development useless if aims at restructuring the technology to be more unique and relevant to replace power intensive machines in the present world. Online photography will not work well thus the technology can only be made acceptable by the market through uploading the videos of how ITER nuclear fission machine is operated, and how the reaction takes place. Online photography should be employed to expand the market share without forgetting to reward online awareness facilitators as a CSR act.
The Specific Critical Success Factors to Determine Success of Deployment.
The first growing economy might render a shortage of power thus the company should specify that it focuses on an alternative power source. ITER provides grounds for supporting the combined mass of Tokamak to encase cryostat through transferring the forces during the generation of plasma. New and cheap shipment of materials needs to be put in place as the preparation for rising cost of the economy (Fantz et al., 2018). The cost of the equipment should be mindful of the economy, and the type of population targeted. In that perspective, the size of boots should not vary with the quality thus there should be strategies to standardize the variety of products to enhance uniqueness in the competitive market (Koizumi et al., 2018). To achieve success, there should be events sponsorship as a way of engaging the customers as it helps reach customers who have little information about the product. Since the technical analysis is a little lower, ITER needs to take charge of its awareness in the market.
ITER employs the use of gyrotrons which act like the machine's electron cyclotron heating system. The microwaves radiation is mandated to essential missions like the pre-ionization (Fantz et al., 2018). The local instabilities of the machine are maintained towards ensuring that the operation of the technology they portray is enhanced. Damiani et al. (2014) outlined that ITER technology can also be used in aircraft management. Cowley (2013) mentioned that ITER nuclear fission is the perfect energy source in as it uses little materials to extract an extremely large amount of energy.
Another strategy to focus on is to enhance customer acceptability to buy the product. Market analysis should be done through a precise analysis of the market segmentation approaches to discussing the importance of the technological advancement (Fantz et al., 2018). In spite of the future trends in technology concerning ITER, the success of ITER outshines the present techniques since it is cost effective amid the fact that it is environmentally friendly as it does not emit gases.
Fantz, U., Hopf, C., Friedl, R., Cristofaro, S., Heinemann, B., Lishev, S., & Mimo, A. (2018). Technology developments for a beam source of an NNBI system for DEMO. Fusion Engineering and Design.
Koizumi, N., Matsui, K., Hemmi, T., Kajitani, H., Nakamoto, M., Yamane, M., & Sakaguchi, K. (2018). Series Production of ITER TF Coil in Japan-Double-Pancake and Winding Pack Insulation. IEEE Transactions on Applied Superconductivity, 28(3), 1-4.
Damiani, C., Annino, C., Balague, S., Bates, P., Ceccanti, F., Di Mascio, T., ... & Locke, D. (2014). The European contribution to the ITER Remote Maintenance. Fusion Engineering and Design, 89(9-10), 2251-2256.
Cowley, S. (2013). Nuclear fusion is the'perfect energy source'. CNN.(Online Article). http://www. cnn. com/2013/03/12/opinion/fusion-nuclear-energy-future/index. html.
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Nuclear Fusion in the Marketplace: Free Essay on the Marketing Strategies of ITER. (2022, Jun 15). Retrieved from https://speedypaper.com/essays/nuclear-fusion-in-the-marketplace-free-essay-on-the-marketing-strategies-of-iter
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