The company will aim for the brand recognition in the local and global market. In other words, the company needs to develop a strategic marketing plan that would make the products recognizable by the target customers. The company will start by planning the proper combination of marketing mix; product, price, place, and promotion. This would help the company achieve the goal in the anticipated time.
Although the company may aim for business expansion and recognition as provider of quality products, this goal is chosen to be the main objective of the company because it cover all the aspects that the company needs to accomplish in penetrating the emerging market. If the company would focus only on the brand recognition of the local and global market as the main goal, the company would definitely give the best service and deliver the best products possible to the customers. In this manner, the customers would recognize them for having the credibility to provide quality sports products in the market.
Global recognition means business expansion which could be the next step for the sports clothing industry. Marketing Mix Due to the existence of numerous manufacturers of sports products in the market, it may be hard to penetrate this industry; however, this business would need creativity in order to survive in the emerging market because sports products do not conform to fashion trends like other form of clothing. The unique aspects of sports products and services present interesting challenges to sport marketers (Milne & McDonald, 1999).
Product Just like any other product in the market, sports products go through its life cycle, from introduction to decline stage; however, the challenging part for the marketers would be maintaining the products on its maturity stage (Shilbury, 2009). The company would focus on one product only, the sport clothing product line. The sports apparel will be offered to men and women who are engaged into sports and constantly needing sports clothes for the games like tennis, soccer, volleyball, and basketball.
All the products will come in different colors and sizes and the customers will be given a chance to choose whatever color they like. The products will be made from high quality raw materials which would be comfortable to the users. Price Since the brand is new in the market, the company will apply the penetration pricing strategy. Through this technique, the company will be bale to avoid early intense competition with the market leaders (NetMBA). Furthermore, the company will be able to attract the attention of the potential customers. The price of the items will depend on the quality of materials used for the production.
This technique has to be done to be able to satisfy each market segment and create distinction between the product classes. Promotion Through the use of media sources, the company will advertise the products to the target market. Partnerships with sports team or sports tournament would help the company to gain awareness from the potential customers of the products. The company will focus on sponsorship and public relations to reduce the expenses for advertisement and to reach the target market which could not be assured by other media sources.
Place The products will be offered and distributed to USA; however, the company will also penetrate other countries to make the products worldwide brand. The idea of penetrating other markets on the product’s early age might be too risky for the company; however, it will also make the products gain good profile in the marketplace. The company will use selective distribution to lessen the distribution costs and other expenses that may affect the revenue of the company.
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