MARKETING PLAN
MARKET PENETRATION
HORIZONTAL MARKETING STRATEGY
COMMUNICATION STRATEGY/OPENING WEEKEND
GREENbike PARTNERSHIP
IN THE STORE
- Spokes aims to capture at least 5% of Utah bikers.
- This figure comes from the calculations in the market analysis. With a total of about 172,920 bikers in Utah and only 5% use bikes to commute, that is still 8,646 individual people with bike needs.
- The competition amongst the independently owned bike shops that provide new bikes as well as services.
- Spokes will spend the majority of our marketing dollars on customer gaining because the competition is large in Salt Lake City.
HORIZONTAL MARKETING STRATEGY
- Spokes will sell a variety of similar products and services to a diverse clientele.
- In some specific situations Spokes will use a vertical strategy to sell but on a smaller scale.
- Spokes aims to maintain a small-scale operation.
- This will also be part of Spokes market testing. Spokes will need to adapt to changing demands and will use our starting orders to generate trends.
- Spokes main source of distribution is the single Spokes brick-and-mortar storefront in Salt Lake City, Utah.
COMMUNICATION STRATEGY/OPENING WEEKEND
- Online presence and cause a sense of excitement. Including but not limited to Facebook, Instagram, and Twitter. These will highlight the store opening and special offers for opening weekend.
- Opening weekend Spokes will have flyers handed out on the surrounding blocks
- Stickers with the Spokes logo for any persons who come into the store. (The stickers will also be an on going promotion that Spokes maintains with the purchase of any piece of equipment or service.)
GREENbike PARTNERSHIP
- GREENbikes assist with commuter traffic in the downtown region. GREENbikes allow people to share a bike on one end of town and return it to a different GREENbike location by the end of the day.
- Spokes plans on lending a variety of the bikes to the GREENbike service because the values of both companies align well.
- The bikes that Spokes will donate will have decals of the Spokes logo, address, and phone number.
IN THE STORE
- there will be Spokes’ brand merchandise including but not limited to t-shirts, reusable water bottles, and cycling gloves.
- Most tune-ups cost an average between $30-$50 and the reason they cost so much is because it includes a variety of services.
- With purchase of any bike customers are able to get 2 free maintenance passes that cn be used for any bike regardless of whether or not it was purchased at Spokes.
- Also, these tune-up cards will be available for purchase at a discounted rate to be discussed at time of purchase depending on the amount of service the customer desires.
SPONSORSHIPS
- Spokes plan to sponsor a variety of local events. These events will range from annual festivals, cycling events, and fundraisers. Spokes believes that this is the most ideal way to develop the city and our business. .