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Business plan I. Introduction
Business Plan Example
Business Plan Example
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The name of our business is T.C.L. Sporting Goods. This name was derived from the last initial of each of the three founding members. All of whom are athletes who have a passionate connection to the sports and outdoor world and the sporting goods industry. The initial location of our business will be in Salem, Oregon. Salem was chosen for its large population and concentration of our targeted customers. Making it the ideal market for our start-up. The mission statement for our business is “To bring excellence in sporting goods equipment to athletes around the United States.” This statement was formulated from our desire to provide high quality products to those in the athletic world at an affordable and reasonable cost. Although our business may initially operate on the local scale, we hope to eventually expand nationally and make our products available to everyone across the United States. T.C.L. Sporting Goods will be a premium retail sporting goods store. We will provide a range of products to best suit our …show more content…
This target demographic fits our business as well as our mission statement very well. Those in this category tend to lead a more active lifestyle and place more emphasis on fitness and outdoor activities. They also tend to have more of a disposable income making them more likely to spend money on the activities and hobbies that our store caters to. To differentiate from our competitors, we will place an emphasis on product quality. This will be achieved during the inventory selection and purchasing process by identifying high quality manufacturers and formulating meaningful relationships with them. In contrast, many of our competitors over emphasize affordability and profitability, sacrificing product quality in return. This difference in quality will be apparent to our target market and make them more likely to patronize our
Columbia Sports Wear – is engaged in the invention, distribution of sportswear, footwear, and equipment and outwear. It was founded in Oregon, Portland in 1928. They do produly support and connect the outdoor educational organizations around the world that the people share their passions. They believe that outdoor education and supporting efforts assure everyone will be able to enjoy the outdoors education for local level.
People are often deceived by some famous brands, which they will buy as useless commodities to feel they are distinctive. People require brands to experience the feeling of being special. People spend their money to have something from famous brands, like a bag from Coach or Louis Vuitton which they think they need, yet all that is just people’s wants. Steve McKevitt claims that people give more thought on features or brands when they need to buy a product, “It might even be the case that you do need a phone to carry out your work and a car to get around in, but what brand it is and, to a large extent, what features it has are really just want” (McKevitt, 145), which that means people care about brands more than their needs. Having shoes from Louis Vuitton or shoes that cost $30 it is designed for the same use.
Lululemon, a premium yoga-focused retail chain, serves two market segments. One segment consists of consumers who are characterized as “trendy urban” and the other segment consists of “wealthy” consumers. The “trendy urban” segment, in summary, is fashion oriented or active women who live in metropolitan areas. The “wealthy” market segment is affluent women who live in either urban or suburban areas. As discussed below, these two market segments are defined by differences in demographics, geography as well as behavioral and psychographic characteristics.
Finish Line’s success can be attributed to many things, such as, great knowledge of the athletic industry, structured growth, superior executive leadership, and great following of a well thought out mission. This mission states, “Finish Line will provide the best selection of sport inspired footwear, apparel and accessories to fit the fast culture of action addicted individuals.” Finish Line’s success has come via many milestones throughout their history. Finish Line’s milestones are documented in the following timeline.
Victor Athletics’ many strengths stem from their organizational culture and mission implemented and originating from their owners. By following their core beliefs and implementing them in their everyday business operations, Victor creates a company image that is itself, a strength. The benefit is positive (and free) publicity they get from word of mouth, news/web articles or social media when people hear of a sportswear company doing things like giving 5% of their after-tax profit back to the factories to be invested in their workers as well as using entirely organic materials to make their products. In addition to realizing America once made 80% of its clothes in the US; today, that number is down to 2%. By choosing to do business with smaller, more sustainable American manufacturers, Victor is helping to change a vicious trend, (“About…).
University of Toledo Men’s Basketball Strategic Marketing Plan By: Rocco Mango Table of Contents Executive Summary Pg. 3 Industry Pg. 4 Product Pg. 5 Market Pg. 21 Sponsorship Pg. 23 Promotions Pg.
Columbia Sportswear Company (Columbia) is a leader in the competitive active outdoor apparel industry. A company propelled by their differentiation strategy, leveraging innovation, brand equity, and strong marketing in the design, manufacture, and distribution of outdoor apparel. Columbia’s product lines include everything from outerwear and footwear to camping equipment and skiwear. It has grown from a small hat company in the 1930’s into a company with a global strategy and a physical and online presence spanning Asia, Latin America, Africa, and Europe.
“Lululemon’s primary target customer is a “sophisticated and educated” woman who wants to pursue a healthy lifestyle. She is trying to balance the dual responsibilities of career and family, trying to balance work, life, and health.” (Dalavagas, “SWOT Analysis: lululemon athletica inc.”, 2016) Most of the women that make up the target market are in the age group of 25-34. The secondary target customer of the Lululemon product is the women in the age group of 18-24. (“Lululemon Social Media Marketing Plan”) The target market are those people that believe in the mission statement of Lululemon. “Lululemon’s
I have choosen to use th XFL as a marketing vehicle for my energy/supplement bar. The XFL has been able to position itself as a fast paced hardcore football league. The nature of the leage would compliment the nature of my product in that people will assosiate my product with the action on the field. The league is focusing on a younger active audience and that is the same target market that I am looking to reach with my product. The high awareness and anticipation for the league makes this an ideal time for my product to be introduced to the market.
Most retailers know that the appearance of their stores plays a big part in determining consumer behavior. As such, they seek to use it to their advantage. Sport Chek sells various types of sports merchandise mainly to middle and upper class citizens of Canada. The company has many stores and online portals. The design of the stores communicates to customers that goods in the store are of high quality. Therefore, customers come with the expectation to pay a premium. The main elements that the store uses to influence consumer behavior include the choice of construction materials, careful choice of colors and shapes, and creative use of lighting. These elements have an impact on the affective, cognitive, and behavioral responses of potential customers. The channel strategy used by the company is effective because of Sport Chek’s strong brand name. The company can benefit more from a better channel strategy for its online shopping portal that can help it to take advantage of the global high-end sports market.
Marketing Overview: We will be targeting athletes and people who like sportswear. Our competitors will be various other companies like Nicky’s Sports, Dick’s sporting goods, Soccer Central, Soccer Loco. Our competitive advantages are having an indoor field, the newest products from Nike, Adidas and all those brands that have monthly packs with the best quality and comfort. We will make sure our customer walks out with the cleats/product that best suits them and if not the can always return or exchange the product with a receipt.
These products then get marketed to wholesalers and retailers for example like Dicks sporting goods. Not included within the sporting goods manufacturing industry, is the production of athletic apparel and footwear (IBISWorld, 206).
Business Proposal for a Retail Shop Selling Sports Clothing and Equipment - Introduction - In this coursework I have chosen to plan a proposal for a new business. The type of business I have chosen is a retail shop selling sports clothing and equipment. The shop will be called "Sporting Glory" and will be situated in the High Street of Sutton in Surrey. The aim of the business is to provide quality sports clothing and equipment to it's customers at affordable prices.
Consumers have expectations In terms of a good quality product that should be availed at a reasonable price. Consumers don’t only want the business to be socially responsible towards them in this manner of reasonable prices but way beyond this. They should meet the needs of consumers in ways of convenience and appearance. But business should also consider other aspects like environmental impact when packaging is disposed.
Too often, a marketing function is misunderstood, because many people do not understand what is meant by ‘Marketing’.