Name: Eric Asare unit 19 p3 Date:
13/2/15
The Marketing Plan
Market Definition and Opportunity
The market I am in is the trainers industry, I will be selling running shoes
designed for athletes and people who have are interested in exercise.
There are opportunities for me to provide reliable, affordable and good quality
running shoes for people who want to exercise or athlete as it improves their
performance because they are very comfortable and light. Another opportunity is
that I will never run out of customers because people are always buying running
shoes on a daily bases because running shoes don’t last for one year or less
which means I will always have customers. Furthermore, what makes my product
unique is that as you’re walking or running it generate kinetic energy in a in a little
portable charger and when your finish you can put your phone on it and you can
charge your phone. Another thing that makes my product unique is that there is
no other company that has though of this idea and even if they thought of it they
properly thought it was too futuristic.
Proposed Target Market Segments
My target market is mainly aimed at people who take fitness seriously, young
athletes and professional athletes because it these running shoes are designed
to improve performance so that’s why these shoes are light and flexible in order
to make it easier to train and preform the exercises.
Demand for Product/Service
There is demand for my product because my target market is aimed at people
who exercise usually use their phone to listen to music as they are running the
reason why I mentioned this is because by the time they finished the battery life
on their phone would have shorted so by the time they finish they could just use
the portable charger to recharge their phone and since my product is unique this
gives me a chance to gain more profit because that as you’re walking or running
it generate kinetic energy in a in a little portable charger and when your finish you
can put your phone on it and you can charge your phone.
Competition
My biggest competition is Nike because they have started to add technology to
their running shoes. For example Nike has a little technology device called Nike
plus which you put in your running shoes as you training, this devise connects to
your phone and tells you how much calories you lost during training. My other
competition is Ampy they also created a shoes that charges your phone using
kinetic energy but their product you attach it to you clothing where as my product
is built in my running shoes.
.
1 | Page
, Name: Eric Asare unit 19 p3 Date:
13/2/15
How success will be measured
I can measure my success with my business by giving put a survey or a
questionnaire in each product that is shipped out. A way to check if customers
are happy with the product is before the product are sent we will put a survey or a
questionnaire to check if customers are happy with the service we provide also if
they don’t do the questionnaire or they survey will sent them and email which say
good or bad to make it easier for them. The reason for this because customers
come first and if customers are not happy with the product they will tell others
which will start to decrease they profit coming in the business.
Other external influences
The external influence in my business, their only one and that’s, Social is one
only the influence because my running shoes has a modern urban look to it,
because of the environment I’m in, so I develop my design for the youth and the
people of today.
Marketing tactics, including the marketing mix (the 4 P’s)
My marketing tactics are to
Product – My customers are people who like to do sport, I designed a t shirt that
complemented their lifestyle. As micro- business we just going to produce and
sell batch of the t shirt. Unlike, another business when their product start to sale a
lot, would get greedy and up the price but the price of the t shirt would stay the
same. Through my research, I have found that Nike had a similar product so I
tried improve it , I have come to conclusion that there’s a gab in the market for my
product and I’m comforted that my product will sale because it stand out from
rest.
Price – Once I found out my target market which are 10 to 50 year olds, I had to
come up with a design that was right for these age groups and my end result
showed that they there are company’s which has already thought of the idea but
they have not thought of the feature my product provides which makes my
product unique on like other company such as Adidas and Nike, also it was very
hard to come up with a price but I took the cost of Manu faction in consideration
and calculated a sensible price for the products. Unlike, another business such
as Nike and Adidas when their product start make a lot profit they start to get
greedy and raise up the price but the price of my company’s shoes would stay
the same.
Place –my product will start of online on my official stores website because it a
cheaper option but when my company starts to make a lot of profit then my
product will be sold in retail outlet (footasylum, JD and footlocker) which would be
in the high-street and shopping centres.
2 | Page
13/2/15
The Marketing Plan
Market Definition and Opportunity
The market I am in is the trainers industry, I will be selling running shoes
designed for athletes and people who have are interested in exercise.
There are opportunities for me to provide reliable, affordable and good quality
running shoes for people who want to exercise or athlete as it improves their
performance because they are very comfortable and light. Another opportunity is
that I will never run out of customers because people are always buying running
shoes on a daily bases because running shoes don’t last for one year or less
which means I will always have customers. Furthermore, what makes my product
unique is that as you’re walking or running it generate kinetic energy in a in a little
portable charger and when your finish you can put your phone on it and you can
charge your phone. Another thing that makes my product unique is that there is
no other company that has though of this idea and even if they thought of it they
properly thought it was too futuristic.
Proposed Target Market Segments
My target market is mainly aimed at people who take fitness seriously, young
athletes and professional athletes because it these running shoes are designed
to improve performance so that’s why these shoes are light and flexible in order
to make it easier to train and preform the exercises.
Demand for Product/Service
There is demand for my product because my target market is aimed at people
who exercise usually use their phone to listen to music as they are running the
reason why I mentioned this is because by the time they finished the battery life
on their phone would have shorted so by the time they finish they could just use
the portable charger to recharge their phone and since my product is unique this
gives me a chance to gain more profit because that as you’re walking or running
it generate kinetic energy in a in a little portable charger and when your finish you
can put your phone on it and you can charge your phone.
Competition
My biggest competition is Nike because they have started to add technology to
their running shoes. For example Nike has a little technology device called Nike
plus which you put in your running shoes as you training, this devise connects to
your phone and tells you how much calories you lost during training. My other
competition is Ampy they also created a shoes that charges your phone using
kinetic energy but their product you attach it to you clothing where as my product
is built in my running shoes.
.
1 | Page
, Name: Eric Asare unit 19 p3 Date:
13/2/15
How success will be measured
I can measure my success with my business by giving put a survey or a
questionnaire in each product that is shipped out. A way to check if customers
are happy with the product is before the product are sent we will put a survey or a
questionnaire to check if customers are happy with the service we provide also if
they don’t do the questionnaire or they survey will sent them and email which say
good or bad to make it easier for them. The reason for this because customers
come first and if customers are not happy with the product they will tell others
which will start to decrease they profit coming in the business.
Other external influences
The external influence in my business, their only one and that’s, Social is one
only the influence because my running shoes has a modern urban look to it,
because of the environment I’m in, so I develop my design for the youth and the
people of today.
Marketing tactics, including the marketing mix (the 4 P’s)
My marketing tactics are to
Product – My customers are people who like to do sport, I designed a t shirt that
complemented their lifestyle. As micro- business we just going to produce and
sell batch of the t shirt. Unlike, another business when their product start to sale a
lot, would get greedy and up the price but the price of the t shirt would stay the
same. Through my research, I have found that Nike had a similar product so I
tried improve it , I have come to conclusion that there’s a gab in the market for my
product and I’m comforted that my product will sale because it stand out from
rest.
Price – Once I found out my target market which are 10 to 50 year olds, I had to
come up with a design that was right for these age groups and my end result
showed that they there are company’s which has already thought of the idea but
they have not thought of the feature my product provides which makes my
product unique on like other company such as Adidas and Nike, also it was very
hard to come up with a price but I took the cost of Manu faction in consideration
and calculated a sensible price for the products. Unlike, another business such
as Nike and Adidas when their product start make a lot profit they start to get
greedy and raise up the price but the price of my company’s shoes would stay
the same.
Place –my product will start of online on my official stores website because it a
cheaper option but when my company starts to make a lot of profit then my
product will be sold in retail outlet (footasylum, JD and footlocker) which would be
in the high-street and shopping centres.
2 | Page
