Athletics Supreme Marketing Plan
Company Overview and Market Research
Overview of Company
Athletics Supreme is a company that has been in the sporting product industry for 10 years now. The main offices and largest retail store of the company is located in New York City. In particular, the company has become a household name in providing sports equipment, such as tennis rackets and balls, rugby balls and footballs. In addition, the company offers sporting exercise equipment, such as treadmills, weights, rollers and the like. The company has grown, both in scale and size, over the past five years. It has been able to open several other retail stores in different states across the nation. In addition, the company has also been able to expand globally with one store in Canada and another in the United Kingdom. In the contemporary, owing to the increase in demand from consumers and popularity, Athletics Supreme plans on venturing into the sportswear industry. Taking into consideration that it has already become a brand name in sporting equipment, the company considers that this will act as a platform and springboard into a successful venture in the new industry.
Market Research Strategies
The main objective of market research strategies is to successfully come up with a means to solve the problems being faced by the consumers and in a manner that is still profitable for the company. For this reason, marketing research is considered vital, not just for the development and growth of the business, but also in nurturing forthcoming business prosperities. One of the market research strategies that the company will use is the trends assessment. Through this approach, the company will be able to gather and analyze data to ascertain patterns and inclinations in the market and determine the opportunities that Athletics Supreme can take advantage of. This will enable the company to understand what the consumers want and the trend in which the industry is leaning towards. Secondly, the company will use competitive assessment. This will enable Athletics Supreme to ascertain the prospects that may or may not already be utilized by the rival companies in the industry. This research approach will enable the company to comprehend what the rivals are laying emphasis on and where prospects for marketing growth lie (Aders, 2015).
Analyzing Macro-environment-PEST Analysis
PEST analysis consists of four aspects. These are the political factors, the economic factors, the social factors, and the technological factors. These tools enable the business to determine the industry forces and trends from all perspectives and aid the business to acknowledge whether such kind of industry is suitable for it (Warner, 2010).
1. Politics, Rules and Regulations
i. Political Dynamics Diversity
Being in operation in different geographical locations and expanses, Athletics Supreme will have to contend with the different political, legal and regulatory rules set in the various regions. These can hamper the business operations.
2. Economy
i. Recovering Economy
In recent periods, the global economy is gradually recovering from recession. The implication of this is that consumers will have more disposable income to spend.
ii. International Trade
Having expanded internationally, the company will have to content with international trade regulations and rules.
3. Society and Culture
i. Social and Cultural Preferences
Delving into this new industry and market, Athletics Supreme has to take into consideration the social and cultural trends, patterns and preferences. This way, the company is able to determine the niche in which it can base its products on.
4. Technology
i. Social Media: With the advancements in social media, applications, such as Facebook, Twitter and Instagram make it possible for Athletics Supreme to realize the inclinations and the viewpoints of the consumers.
ii. Online Product Ordering: Athletics Supreme in its new product line as well as its other business operations, makes use of technology for product ordering procedures through use of mobile applications as well as business website.
iii. Automation in Production
The advancement in technology has produced an upturn in automated machinery. This has enhanced the level of output. Nonetheless, the sportswear industry is projected to remain labor intensive for the reason that even though some of the manufacturing jobs can presently be mechanized, these automatic everyday jobs are still restricted to basic functions. Therefore, employees will continue to finish majority of the practical functions of the production.
Unit IV: Situation Analysis
Segmentation & Target Market Analysis
Athletics Supreme is targeting sporting consumers, both the young and the old, professional athletes and also individuals in need of sportswear for sporting activities. However, the company will focus on products that distinctively suit the different set of consumers. For instance,...
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