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Marketing Analysis - Book Report/Review Example

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Summary
The number of new cyclists is continually growing every year with an average number of 1, 3 m people. Thus, for example, in 2010 the bike sales reached 3, 7 million…
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Marketing Analysis
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Marketing Analysis

Download file to see previous pages... These trends offer great opportunities for cycling businesses.
Cycling is appealing to a wide number of user groups of different genders and ages. The target market includes both males and females of different ages as well as children. There are four major segments:
While all these categories are the potential customers of the bicycle store, all of them have different needs and these needs should be addressed in a different way. Thus, for example, children are more probably in need of safe and comfortable bicycle on which they can ride to school or other places. Women might be more focused about their health and body, and therefore their preferences may vary based on their needs. Men may prefer to ride bicycles for fun, for health, for competition, for sport, etc. Another category of cyclists are adolescents, among which bicycle sport and entertainment activities are increasingly popular.
Positioning is fundamental to buyer behavior as it is the trigger which makes the customer to take either positive or negative decision regarding the specific brand (Marketing Mentor, n.d.). Development of a powerful positioning statement is the opportunity to influence the market’s perception of the bicycle store (Marketing Mentor, n.d.). A great example of positioning statement for the bicycle store was developed by the Canadian business “Cervelo Cycles” who claimed that they “make the bicycle that won the Tour de France" (Marketing Mentor, n.d.). While this statement was developed for specific target audience of professional bicyclers, it gives a good insight for development of the positioning statement for the bicycle store in the UK. Depending on the marketing strategy, it is possible to apply competitor positioning based on some unique features that differentiate the company from others (pricing and discounts, unique models, etc.).
The new shop should focus on selling both ...Download file to see next pagesRead More
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