MARKETING PLAN FOR FLASH BIKES 1. Executive Summary Flash Bikes is a wholly Ghanaian company that deals in quality yet affordable bicycles for the roads and mountains. The company was established in 2022. We have a wide range of bicycles which is suitable for all ages. Our policy has always been to satisfy our clients with the bikes of their choice and in doing that also ensuring that their safety and wellnesses is assured. Flash Bikes have been purposefully designed for recreation, for mountain hikes as well as for cycle tours due to its speed. Flash Bikes is now present in all world regions such as Portland, New York, Amsterdam, and Nantes. We are poised to be the marketing leader in the next six (6) months. Our total market demand stands at $4,821 and for our market share, Flash Bikes stands at 12.49%. 2. Company Description a. Vision b. Mission Statement Our Mission is to create a new perspective about transportation in the minds of people in terms of convenience and comfort. c. Core Values Open to giving and receiving honest feedback to/from each other Assist each other in their responsibilities The use of active listening technique and refrain from interrupting each other during meetings. 1 To promote increase use of bicycles for work, recreation and tours. Use carbon fiber material by being environmentally friendly. Make health and safety our priority 3. Environment/ Marketing Situational Analysis – External and internal From the little research we conducted, we noticed that there is a huge market for the biking industry. Most people trek to work, not because they do not have the means but because the transport fares are quite high and also the traffic situation in our target market does not help matters. This is what informed our decision to venture into the biking industry so as to help solve the challenge with transportation. Bicycle transportation is economically thus bikers will be able to save for other needs. Flash Bike geography and location makes it perfect to open more shops in New York, Amsterdam, and Portland. We expect to attract youth, students who would instead of exercising, ride the bikes to schools and same goes for the middle-class workers. Kids would also not be left out since most of them ride for pleasure during weekends, on vacations and on short distances. Market Segment The market segment for the biking industry can be divided into 5. They are the Youth, Work, Recreation, Mountain and Speed. Each as we will discover shortly has its own needs. A breakdown of the segment are as follows: Youth Segment 2 This is target is mostly for children between the ages of six to thirty. Kids because they usually will use the bike during vacation, on errands and visits to their friends in the vicinity. Some also use it for school especially in instances where the school is not far from home. On the other hand, these bikes are economical, not expensive hence parents could afford it. Work Segment This is target at people who prefer riding to work as compared to driving. The main reason being the cost of fuel as well as avoiding traffic during rush hour. Clients also use this for errands as well as when they accompany their children on a ride in the vicinity. Such bicycles ought to be rigid, comfortable and reliable such that they would not regret ever buying such product. Recreation Segment This segment is targeted at bikers are love fun. Instead of sitting in buses for long journey, they would rather ride to their recreational sites whiles having fun at the same time. It sort of bring bikers together. Because of the long ride, they prefer bikes that are comfortable, reliable and also having a carrier for their lunches and snacks. These bikes also has to be affordable. Mountain segment Theses bikers are regarded as the adventurous bikers. They usually would have their daily or weekly dose of exercise at the country side, climbing mountains in the wild. Due to the kind of places they ride at, they prefer paying a little more to have comfortable seats, good pedals and nicely fitted fenders and handlebars for the mountainous ride. 3 Speed Segment Bikers of this segment usually are groups who go on cycling tours of the country. Such tours require speed that will make them ride as fast as possible. Bikers of this nature sign up for Olympic games etc. They also go the extra mile to ensure the bikes give them the comfort they would desire when ridding on long distances and during competition. Competitive Analysis 3 key competitors in the simulation Their market share Their strategies Locations 4. Swot Analysis Strengths In our first quarter sale, we sold 811 units of our bicycles. Thus, our balance scorecard was the highest as compared to competition. Our financial performance in quarter 6 was greater than 50% Weakness Opportunities Threats 4 5. Positioning Statement Biking is a form of exercise and as a company, we would urge all to consider biking since it is safe, healthy and fun. 6. Corporate Objectives & Strategies Focus on large, highly competitive segments Focus on geographic markets which minimize distribution costs Be a fast follower, imitate smart competitive moves Attack the competition on their home ground Sidestep the competition whenever possible. 7. Marketing Objectives Our objectives as a business is to create products that is easy to maintain, fits a riders personality, comfortable, easy to ride and above all protect the rider from water and dirt especially during the raining season. We also intend to improve upon our range of bicycles as well as improve our sales in all the world regions. 8. Marketing Strategies – Segmentation, targeting and value proposition - Assumptions used in building your strategy 5 9. Marketing Mix Programme/Action Plans (Implementation): 10. Sales strategy/Forecasting 11. Projected Budgets for your plan: Estimated Expenditures, Revenues, Profits etc. 12. Evaluation and Controls: How do you intend to monitor the progress of your plan implementation? 13. References/Appendices 14. Roles and Responsibilities of Team Member Samuel Addo Boye – President Sam’s responsibilities is to develop the leadership skills of the other executives. He also has the task of developing business analytic skills, sales management skills, advertising skills, brand management skills, financial skills, teamwork sills as well as marketing skills. 6 Victoria Ntiamoah – Vice President Victoria is responsible for sales management which includes advertising. She is also to ensure that the executives also develop their sales management skills. Jesse Shambach – Vice President Jesse is in charge of Brand Management and Finance. His main task is to develop the overall understanding of how to market our products. Daniel Moyab Boateng Daniel’s main task is to develop brand management skills. 7