Executive Summary
In today’s world, more and more attention is being paid to healthier lifestyles and an improved environmental situation. In this context, bamboo fiber exercise clothing perfectly integrates all meaningful factors. According to many trends, the popularity of all sportswear types is growing with a significant increase each year. Accordingly, this type of clothing is of great interest to middle and upper-income audiences in developed and developing countries. Moreover, the use of biologically friendly, renewable, and health-friendly materials like bamboo fiber is gaining popularity.
Modern trends include many formats, and not all of them involve the use of specific materials. For example, seamless fabrics are most often an utterly artificial material and are purchased by customers solely for their appearance. However, the use of bamboo fibers can provide the same result at a slightly higher base cost but with much better air conductivity, comfort and durability.
By concentrating on such methods of entry into the market, there is a maximum likelihood of making a stable income. In addition, the competitiveness of companies focusing on an environmentally friendly and robust product will far exceed all possible levels of development of companies using artificial materials. Thus, there is the potential to confidently capture the market and occupy its own niche for the production and sale of bamboo gym clothes. With a sufficient level of marketing and quality of produced materials, the leading positions in the market can be taken immediately.
Marketing Objectives and Target Market(s)/Segmentation Statement
Marketing Aim and Related Objectives
The aim of the marketing campaign in a case like this is to convince a considerable number of people of the benefits of choosing sportswear made of bamboo fibers. Age is not a limiting factor and cannot be used as a reference since people of all ages have a passion for sports (Lipson et al., 2020). Accordingly, the advertising campaign cannot be aimed at any exceptional segment of the population, which both complicates and facilitates the task (Multala et al., 2022). Based on the above information, the marketing strategy should be as broad-based as possible and focused on increasing the popularity of bamboo fiber and fabric made of it in the market of sporting goods.
Thus, it is possible to formulate a number of apparent goals for marketing actions. The first and most global is to appeal to a group of sports enthusiasts, which has a significant volume, based on the research (Lipson et al., 2020). The second goal can be called providing potential buyers with information about the advantages of natural fabrics over artificial fabrics and focusing on bamboo in particular (Kramer, 2022). The third and principal one can be defined as attracting buyers’ attention to the direct products, which combine eco-friendliness, convenience, and durability. The fourth and indirect marketing goal can be called the distraction of potential customers from the difference in cost between natural materials and entirely artificial, which is a negative factor for business.
Target Markets Segmentation Statement
To determine the potential target audience, an analysis of the age, gender, and geography of the customers must first be performed. Equally important is to consider the general public’s interest in the product and determine the areas in which distribution will have maximum and minimum success (Lipson et al., 2020). This way, the conditions are adjusted to further shape the strategy to maximize effectiveness. The marketing presentation of the product in the market in the context of this case is of great importance and must be produced accordingly.
The age of potential buyers mainly ranges from 18 to 35 years old, although, in general, there are no hard limits, as already mentioned above. Sports, jogging, and gym exercise can be done by people at almost any age, which should be taken into account (Lipson et al., 2020). The geographic location of the market under study allows year-round exercise in the gym, which likewise does not limit the sample of potential customers (Sun et al., 2020). In addition, gender has almost no influence on this planning. However, it is worth specifying that initially, the level of concern for environmental friendliness, comfort, and naturalness of clothing is much more important for women (Aakko & Niinimäki, 2022). Men are much less likely to pay excessive attention to the fabric quality, tailoring, and even the brand, which provides the assumption to focus more on the women’s market.
It is no less important to consider the interests of the target market group and consider them when forming a marketing strategy and organizing sales. So, regardless of the other factors, the target market determines the desire for a healthy lifestyle (Portway, 2019). This type of thinking among potential customers is the most common, and there is a likelihood that environmentally friendly materials prevail over polluting industries.
Market Strategy Generation and Marketing Mix Choices
Market Strategy Generation and Selection
In the process of generating a marketing strategy, it is vital to take into account all of the above data. Accordingly, the main emphasis should be placed on the environmental friendliness, naturalness, and convenience of the products. In addition, there are additional factors to consider, each of which depends on the timing, goals, and volume of production and sales of the company. Thus, it is proposed to categorize strategies in the format of two main formats.
Short-term Strategy
In the short-term strategy, it is recommended to create the main emphasis on the comfort, absorbency, and endurance of the fabric. In some parameters, bamboo fiber is inferior to its main competitors today – cotton and nylon (Ferrales et al., 2019). However, when conducting a marketing campaign, it is mandatory to focus on the fact that it absorbs sweat better and is more substantial than cotton while being far ahead of synthetic fabrics in terms of comfort (Aakko & Niinimäki, 2022). Thus, it is necessary to draw attention to the quality of the product without including a focus on price or a specific location in the strategy.
The basic principles of marketing strategy formation involve influencing location, product, promotion, price, and people. However, in this context, it is the focus on customers and product quality that should be chosen to begin product introduction (Kramer, 2020). Cost, location, and promotion are not enough to create a marketing mix in the short term. Thus, the immediate attention of all potential partners and customers should be drawn to the quality of the fabric itself.
Long-term Strategy
In the long-term format, there is the possibility of a looser interpretation of the concept of varnished clothing and its cost. Although bamboo fiber is more expensive than synthetic fabrics, a lot depends on the brand of the manufacturer (Gurubay et al., 2020). In today’s world, it is possible to purchase an expensive gym outfit made of the lowest quality fabric solely at the expense of the manufacturer’s brand premium (Goworek et al., 2021). Drawing the attention of potential customers to this problem is not a new move in marketing strategies, but should be applied carefully and with the expectation of long-term implementation. It is due to the fact that fans of a particular brand can be overactive and contribute to the slow promotion of a more environmentally friendly but unknown to product.
It is likewise suggested that discount promotions and public shoots be considered in the long run to attract attention. Testing fabrics and manufactured clothing on par with competitors’ products in other materials can be successful (Nagarajan et al., 2019). However, in forming any marketing strategy, it is necessary to consider one’s own capabilities and not to overestimate one’s level of competitiveness (Xu et al., 2022). With an adequate assessment of one’s own strengths and a gradual reduction in product prices by increasing production efficiency, there is a chance of winning the market.
Market Position and Development
The current market position of the product is not profitable enough. Most products with bamboo fibers in their composition do not advertise this fact sufficiently (Portway, 2019). The sportswear market needs evolution and development, but it is happening too slowly. An example of indirectly related products and their successful development is Merino Wool, which, after gaining popularity, has incredibly spread to all areas of wear with a reasonably high price (Prakash, 2020). Bamboo fibers are cheaper and more accessible, which in addition to the less popular wool in sportswear, will allow a strong position in the market.
Short and Long-term Marketing Mix Choices
The choice of the general direction of strategies and their mixture depends on the stage of finding the studied type of clothing. Given its lack of popularity and low visibility, it is recommended to use the mixing of people, products, and packaging in the context of the most common marketing concepts (Broadhead et al., 2021). Thus, it is necessary to focus on earning a reputation, and quality workmanship, conveying the facts of the usefulness and sustainability of the material to potential customers, and compliance with all regulations and promises.
In the long-term format, more attention should be paid to the mix of price, process, and place of extraction of raw materials. Promotional moves that include excerpts of production videos or comments from employees are more popular than others (Su et al., 2019). Moreover, in addition to lowering the price relative to other products, there is an opportunity, in the long run, to draw attention to the poverty of some of the countries that supply raw materials for clothing. Purchasing the products of low-wage workers and rising living standards in such countries may provide an additional incentive for customers.
Control and Evaluation Methods
The effectiveness of the strategy should be monitored by regular, standard methods. It should include a monthly and annual report on the results of promotional activities carried out at different levels of the organization. Thus, the amount of benefit received before and after the marketing actions, the overall profitability and compliance with the strategies themselves should be monitored (Chen et al., 2022). The methods used in the process should include the analysis of sales, customer feedback on the product, and the general awareness of people through surveys (Chen et al., 2022). If the contingent in the gym where the advertising campaign in the context of a marketing strategy after the survey shows a lack of awareness of the material, its properties, and benefits, then the strategy is ineffective. In addition, if the level of sales demonstrates a significant increase, specifically undertaken actions confirm their own effectiveness, and the strategy should have a continuation.
References
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