Poolarama Company's Strategic Alternatives | Free Essay Example

Poolarama Company’s Strategic Alternatives

Words: 572
Topic: Business & Economics
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Speaking of strategic alternatives, it is essential to note that the core goal for Poolarama is to attract customers who have swimming pools and hot tubes into the store. In this regard, the key focus is to be directed at growing the brand and product awareness among the target audiences. There are various means to increase the volume of customers and meet their expectations.

The first strategic alternative may be associated with young families who have already purchased a swimming pool or a hot tube. This target group, as a rule, owns pools for relaxation and pleasure to spend evenings and communicate with friends. In the role of the additional stimuli to attract them, there may be some appealing promotions and discounts for products of the company. The mentioned audience may be impacted with the help of modern technology that is a relatively inexpensive way of advertising (Taylor, 2013).

Considering that young people tend to communicate in social networks and collect information through searching the Internet, it seems to be beneficial to initiate a range of promotions in this area. The product positioning that refers to the perception of customers of the product should be composed of several elements. In particular, it is important to pay attention to product features, promotions, and pricing. The latter is especially crucial element as it would affect Poolarama’s sales that under optimistic situation, are expected to be rather high and moderate under pessimistic one (Lamb, Hair, & McDaniel, 2012). The most likely, the identified strategic alternative would cause the growth of interest in the company and its products. As for costs, the mentioned strategy requires relatively low expenses.

The second strategic alternative would focus on families with children as this group presents a significant part of Poolarama’s customers. This target audience uses swimming pools and hot tubes not only to have a good time but also to entertain children and help them to relax. At this point, parenthood costs as well as some other investments may be difficult to hold. Nevertheless, the company may come up with special offers such as payment by instalments that would be safe, easy, and comfortable way for customers to pay for products.

The promotional mix may involve word-of-mouth strategy and swimming lessons for children along with certain activities aimed at increasing awareness of swimming pool safety and explaining its benefits for parents and their children (Burrow & Fowler, 2012). To perform the mentioned lessons, the company may contact special trainers and provide lessons by agreement with customers. In other words, targeting families with children, it is necessary to largely focus on children’s perceptions and needs. The identified strategy may cost some investments in any situation, yet it may significantly improve sales in optimistic view and at least increase awareness of the target group. The most likely outcome is the influx of customers at 50 percent.

The third strategic alternative may cover athletes who want to keep themselves in good shape and those who want to create attractive body. This group may be reached through such promotional strategy as collaboration with gyms and shops, offering sports nutrition supplements. Advertising brochures offered in this places would attract the target audience as people engaged with sports tend to visit the gym and use proper nutrition. Such a strategy is likely to minimize costs, yet boost up sales in any situation due to its focused and specific nature, allowing to embrace the target audience.

References

Burrow, J., & Fowler, A. (2016). Marketing (4th ed.). Mason, OH: South-Western Cengage Learning.

Lamb, C. W., Hair, J. F., & McDaniel, C. D. (2012). Essentials of marketing (7th ed.). Mason, OH: South-Western Cengage Learning.

Taylor, G. (2013). Advertising in a digital age. Charleston, SC: Global & Digital.