Activity 1
THE RATIONALE
Aims and objectives
Aim 1: Increase the company’s base by 30% over the next years
Objective 1 - This can, in the first
... [Show More] place, be done by using tv ads as the key selling
activity, and will ideally draw the right target demographic and raise consumer
base if done appropriately at the right time of day and in the proper way.
Objective 2 - Put the commercial in colour in the daily mail newspaper, because it
can stand out from the basic monoprint and encourage our consumers to pick it
up and learn about it. I think it's going to be best in colour so that it's bold and
appealing, although black and white won't alert consumers enough.
Aim 2: Increase the company’s profits by 5% over the next the 5 months
Objective 1 – TV ads will be as follows: they will advertise their own "cycle instead
of walking" on television advertisement, and will teach young people how to
purchase their bicycles.
Objective 2 - Every 2/3 months, a small team from the firm will attend bicycle
conventions to advertise their goods and how they want to expand the business
through this proposal; this way, customers will feel engaged and the ideas will not be
held internally to the firm's stakeholders.
Research data/Analysis on the market
The Bicycle Shop is a medium-sized independent retail establishment that
specialized in commuter bicycles and equipment. The owners want to expand
sales of foldable bikes and have recruited a marketing firm to help them do so.
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Swot Analysis
Strengths Weakness
Bicycle has a one-of-a-kind
folding design. The bicycle folds
down to the size of a compact
suitcase in three steps.
Freedom to travel anyway
Environmental benefits
The cost of the bicycle; the entry
model of the bicycle is still
expensive, discouraging some
potential purchasers and driving
them to cheaper rival products..
Opportunities Threats
Boost production of electrical
bicycles. There is a movement
towards electric bicycles in the
United Kingdom
• Prepare and hire additional
workers to raise production
targets;
Competitors
Counterfeit products from the
Far East readily available online.
Pestle Analysis
Political
More people pedal on major roads in London, which has nearly quadrupled
since 2000, and TfL aims to share a 5% form of riding by 2025. South West
Trains is a Stagecoach Network company that has partnered with the
Brompton-based cycling organization to help bicycle riders as part of a fully
integrated low-carbon trip and train travel. Everyone enjoys these bikes since
they are easy to ride and can be readily stored in a package smaller than a
typical backpack, allowing people to go wherever they wish.
Economic
Cycling has contributed £1.6 billion to the UK economy and is expected to
increase more in the coming years. It is rising at this rate because people are
realizing that cycling is a fantastic method to commute that is both free and
ecologically good.
Social
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Mr Ritchie, who was awarded the prize for a lifetime dedication to design, has
spent 21 years designing the Brompton, which is manufactured in the United
Kingdom and distributed across the world. Buckingham Palace hosted a gala to
honour 50 years of British creative genius.
Technological
A protective case might be useful while moving a bicycle by train, car, aircraft, or
boat. There is a need for such a protective case to also operate as a fully
functional bike trailer, attaching to the back of the bike and transporting light to
moderate weights.
Target Market
In 2016, it was discovered that 15% of the United Kingdom population cycles once
a week, implying that 15% of the population has a working bike. According to the
same source, males are three times more likely to cycle than women, and the age
range that is most prevalent is 30-39, as well as 40-49. This means that the
primary demographic is men aged 30-49. Commuters, enthusiasts, and
recreational cyclists are the three primary types of cyclists. A typical consumer for
a folding bicycle will be an urban commuter. Because foldable bicycles have not
yet been introduced to many people, they continue to ride full-size bicycles. These
are the people who will be targeted in our marketing effort because, once they
learn about the foldable bicycle, they will realize how handy this form of bicycle is
and will want to buy one.
Size
In the United Kingdom, foldable bicycles account for a minor portion of the
bicycle market. In the United Kingdom, folding bicycles account for 4% of the
total number of bicycles sold. Brompton is the market leader in folding bicycles
in the United Kingdom, producing 45,000 bicycles a year. Over the previous few
years, the bicycle market has grown at a rate of 5% each year.
Structure
In 2015, 3.6 million bicycles were imported into the United Kingdom, a figure
that has remained consistent over the last decade. The majority of these
imported bicycles were produced in Taiwan. Taiwanese manufacturers
exported around 588,000 bicycles to the United Kingdom in 2014. Brompton [Show Less]