Marketing Plan Assignment
Executive summary:
As an aftermarket inline skating accessory manufacturer, Pegasus Sports International wants to be a market leader in skating accessory market. However, there are some major manufacturers in skate market. They are not concern about skating accessory market. This is an opportunity for Pegasus Sports International. Moreover, different skating competition are increasing day by day across the world. To fulfill the customers’ demands Pegasus Sports International is working intensively. They are working on Skatingtours, kind of new service in skating industry. As well as they currently developed products have patents pending. Pegasus Sports International’s aim is to become market leader through significant experience in the industry, efficient management, solid business model and long term planning. To reach to the customers Pegasus Sports International will follow “direct to the customer approach” by website. Because using website is easy to get and retain customers. On the other hand they are making a strong network within the skating industry.
Situation Analysis:
Although it’s a start up, its main task is to increase its brand and product equity by serving the growing skating industry through marketing.
Market summary:
Current skating market is good enough for doing business. Day by day the market size is increasing proportionally. Who will buy or use skating equipment for recreation, fitness, speed, hockey, extreme, are the potential customer of Pegasus Sports International. To fulfill the needs and wants of these potential customers is the main focus of Pegasus Sports International.
2.1.1 Market demographics: Pegasus Sports International’s customer profiles are consist on the basis of following determinant:
Geographic: Pegasus Sports International will serve both domestic and international customers. They will reach to their customer by using multiple delivery system and internet. Their total target customer is more than 31milion.
Demographics: Target market is consist of both male and female. Main target is age 13 to 46 years old with 48% cluster in 23 to 34 years old. Recreational users are from wide range. Fitness group belongs to 20- 40 years old. Speed group belongs to late 20s- 30s age group. Hockey users are from teens to early 20s.
Behavior factors: Users enjoy fitness activity. People spend money on sports equipment. People engaged in recreation activities 2 or 3 times per week.
2.1.2 Market needs: Pegasus Sports International is going to provide different category of skating accessory with following benefits: Quality craftsmanship: More than two years durable products. Well designs: insightfully well design products these are not available in skating market. Customer service: