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Marketing Planning Assessment: Midland Cycles - Business Plan Example

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The business plan titled "Marketing Planning Assessment: Midland Cycles" The cycle industry has experienced relatively explosive sales growth both in Europe and North America since 1998 (Financial Times, 1998). Recent statistics demonstrate the recently set all-time high records in terms of creating higher sales revenues…
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Marketing Planning Assessment: Midland Cycles
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Download file to see previous pages This marketing plan describes the current cycle industry and offers the 12-month total marketing plan and strategies available to Midland Cycles, a producer of a wide variety of two-wheeled cycles for the consumer marketplace. In order to fully understand the environment in which Midland Cycle must thrive, it is highly crucial to recognize whether the company maintains any significant strengths or weaknesses in terms of operations and marketing. In addition, understanding internal and external threats in conjunction with identifying opportunities will allow Midland Cycles to react appropriately to a variety of competitor activities and secure its position as a market leader in cycle sales. This section identifies full SWOT and PEST analyses data regarding the internal and external sales environment.
One of the most important strengths for Midland Cycles falls in its currently stable balance sheet and cash flow. The company has maintained profitability for the last decade and has managed to create a sizeable cash position, offering the firm flexibility in terms of opening new retail facilities or ensuring international sales expansion. Because the business maintains a strong financial portfolio, should the firm ever decide to trade publicly, it is likely to drive up the market value of the company’s stock, thus providing investor funds to develop the company. Currently, Midland Cycles has too narrow of a product line in comparison to other competitors, focusing on motorcycle and scooter sales as the primary revenue builder for the firm. Diversification of product offerings is a necessary forward step toward profitability for the company; however, this must be managed from the executive level to assess issues of internal manufacturing capacity and labor availability for broader product line offerings. 
Additionally, the company currently sustains a weak market image in terms of customer's recognizing brand names over that of competition. This would suggest a more aggressive marketing campaign is necessary in order to build consumer confidence and loyalty, thus establishing future brand equity for Midland Cycles. ...Download file to see next pagesRead More
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