The skateboard and gear business target 120 youths, who stay near a college and depend on skating to reach school. The targeted students have continuously shown their interest to purchase skateboards which are limited in supply around the identified areas. Skateboard is important as it helps the students move from one class to another with much ease. According to a recent market survey, skateboards and gears cost an averagely of $ 60 at wholesale price and a cost of $75 retail price (Brennan et al., 2020). We target to buy 120 pieces going for $7200 wholesale a price, project to sell them at $80 to gain profitable income of $20 per each. It is an indicator that the skateboarding and gears business is challenging and profitable.
To attract more clients, we shall offer deliveries and online sales to popularize the business through our chain supply strategies. The main vision of the trade is to expand and develop into a commercial entity with promising future aspirations. Additionally, skateboard and gears commerce is a solution-based business that emphasizes satisfying the needs of clients through mutual benefit plans (Brennan et al., 2020). The crucial goal of the company is to offer a swift movement from one place to another, which is affordable and enjoyable to students. Therefore, skateboarding and gears business requires a strong strategy in marketing to achieve the set goals.
Our marketing strategy includes sales promotion through gift hampers, online marketing, direct sales, and co-branding. The business will be supported through the application of both print and electronic media. Facebook, Whatsup, LinkedIn, Instagram, and Twitter will be ideal for the promotion. Gift hampers such as coupons and t-shirts will be given to any customer who buys more than two sets of the skateboard and the gears as a marketing campaign. Media platforms will be ideal for the skateboarding and gears business, as marketing avenues.
The main strength of the business is the readily available market provided by the high number of students. The identified weaknesses which the business may face include insufficient funds to employ enough competent people for marketing. With the little capital, hiring many workers will prove difficult to sustain in the due course. The opportunity which the business enjoys is the availability of loaning facilities which can help solve the matter of insufficiency of capital; by offering quality products to the customers, we hope to develop a report in the course of business. The threats are new entrants into the same business. It will derail the monotony, which we plan to enjoy for some time. To conclude, the skateboarding and gears business calls for determination and good strategic plans.
Reference
Brennan, R., Canning, L., & McDowell, R. (2020). Business-to-business marketing. SAGE Publications Limited.