Marketing Strategy for Mikes Bikes.

Essay by sssJunior High, 8th gradeA+, December 2003

download word file, 1 pages 1.5 2 reviews

Downloaded 116 times

Executive Summary

BestBikes is a bicycle manufacturing company located in Erewhon. They currently produce one bike, a mountain bike. They compete for the bike market in Erewhon with three other bike companies of similar size and producing similar bikes. BestBikes have identified a number of unserved market segments (Racers, Leisurers, Commuters and Kids) in the bike market, and have analysed the possibility to expand in the currently served market segment (Adventurers) and entering the un-catered Racers segment. Developing products for the potentially highly profitable Racer segment fits well with BestBikes current expertise and operations.

BestBikes mission is to produce high-quality bikes for the Adventurer and Racer market segments. The corporate and marketing goals for the next five-years are to reach a share-holder value (SHV) of $30 and to capture 40% of the Adventurer segment and 60% of the Racer segment.

Branding and carefully aimed advertising will be the means to promote the products.

The bikes will primarily be sold through specialised stores to meet the target segments' shopping habits. The pricing strategies will be moderate to aggressive, matching the low price sensitivity of the costumers.