Trek Bicycles Paper - Essay Example

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Contents Introduction 3 Trek Bicycles – Mission Statement 3 Trek Bicycles – Vision Statement 3 SWOT analysis 4 Competitor Analysis 6 Schwinn Bicycle Company 6 Giant Manufacturing Co. Ltd. 7 Electra Bicycle 7 Marketing Objectives 8 Proposed Marketing Strategy – Electric Bikes 9 Target Customers 9 Marketing Mix Recommendations 9 Product 9 Price 10 Promotion 10 Place 10 References 11 Introduction Founded as small family run bicycle manufacturing company, in Waterloo, Wisconsin, in 1976, Trek Bicycle Corporation today is one of the leading bicycles manufacturing company in the world with its overseas operations prominent in Japan and 7 European countries…
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Download file to see previous pages We believe in a better world (TrekBikes, 2012). Trek Bicycles’ vision is to make the world a better place by using bicycles as a tool. Bicycles are the most efficient form of human transportation. Trek Bicycles’ vision is to contribute to making a world a better place as use of cycles will help to combat climate change, help people to be fitter, reduces traffic congestion, and has many more positive effects. SWOT analysis Swot analysis is an important tool that helps to carefully evaluate the opportunities and threats (external to the organization) of an organization along with its strengths and weaknesses (internal to the organization) (Griffin, 2011). Following is the Swot Analysis of Trek Bicycles Strengths Weakness Outside of China Trek Bicycles is the biggest bike company (Phillips, 2008). This is the company’s biggest strength. Trek’s main weakness is its poor understanding of customer demographics. It is unaware of who their core consumers are (Johnson, 2008). The company has established itself as one of the best bicycle manufacturers and suppliers with great innovative products, eco-friendly bicycle development, dynamic partnerships (Bikes Belong and Bikes Around the Community), efficient dealers and exceptional customer care (Johnson, 2008). Because of the great brand equity that the company has built, it has developed a very aggressive management style (Johnson, 2008). The brand image of the company is exceptional. Lance Armstrong has been instrumental in given the company a great brand image. By winning Tour De France 7 times he has contributed in demonstrating the quality of Trek Bicycles (Guffey & Loewy, 2010). The company also sponsors/funds other sportspersons and competitions. Human resources are also a major strength of the company. The employees of the company are driven and committed to working towards the company’s mission and vision. Trek Bicycles is mainly focused on the mountain bike segment. Unlike, its competitors it has not tried to dominate all segments of the bicycle market. This has helped trek Bicycles to specialise in a single key area. But Trek has diversified inside the segment to meet the requirements of different customers. It has also expanded into offering various biking accessories, clothes, training, road support, etc (Electric Bikee, 2011). Trek’s R&D has excellent capability. It manufacturers numerous products in broad product range that are affordable and it achieves this by effectively using its low cost manufacturers (Griffin, 2011). Trek’s green strategy is another important strength of the company that differentiates it from its competitors and gives a competitive edge. This green strategy not only ...Download file to see next pagesRead More
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