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BikeArt's marketing strategy will be based on the use of several forms of advertising. BikeArt will generate visibility through advertisements in the local cycling journal, Oregon Cycling. This journal is read by many cycling enthusiasts, one of the target segments of the market.
BikeArt will also advertise in the Eugene Weekly, a liberal, progressive living arts newspaper for the Eugene area. The typical reader has a similar market demographics to our customers and the newspaper is read by many because it is the premier source for determining different cultural and musical events that are occurring in Eugene.
BikeArt's strategic location of the Valley River Mall will reduce the need to spend a lot of money to generate visibility because the location provides large amounts of walk through traffic which is likely to generate sales. While the typical person that visits Valley RIver Mall is not our typical customer, the mall person will often buy gifts for people and BikeArt's products make excellent gifts. The money saved from not launching a huge marketing campaign is going to be spent in increased monthly rent from the Valley River Mall.
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BikeArt's mission is to provide the customer with functional items and art work made out of recycled bicycle parts. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.
BikeArt's market can be divided into two groups, industrial art collectors and bicycle enthusiasts. The industrial art collectors are characterized by people who collect art with an industrial edge. Industrial art is typically characterized through the use of either very technical looking pieces or structures or using parts that existed for another function for the basis of the art work. Industrial art is the opposite of organic art. Industrial art is typically sharp angles, straight lines.
The other market is of bicyclist enthusiasts. Eugene is a bicyclist town, one of the hottest in the country. In a town of 130,000, there are three bicycle manufacturers, miles upon miles of bike lanes and independent bike paths. This culture will lend itself to BikeArt. The bicycle enthusiasts are people that ride a lot and appreciate anything related to bicycles, including bicycle art pieces.
BikeArt will position itself as a cutting edge cycling and industrial art dealer. Both art collectors as well as gift purchasers will be impressed with the selection and creativity of designs. BikeArt will leverage their competitive edge of specialization of a market niche to help position themselves.
The single objective of BikeArt is to be known as a premier place for cycling and industrial art in Eugene. The marketing strategy will seek to first create customer awareness regarding the products offered, develop the customer base, and work toward building customer loyalty.
The message that BikeArt will seek to communicate is that it is a prime retailer which has a good selection of bicycling artwork. This message will be communicated through a variety of forms including several advertisements in various targeted journals/newspapers.
BikeArt will also leverage the large amount of walk through traffic by creating creative and thought provoking displays of their products to lure in walk by customers.
BikeArt's marketing mix is comprised of the following approaches to pricing, distribution, advertising and promotion, and customer service.
During the initial phase of the business plan development, several focus groups were held to gain insight into the target market. These focus groups provided helpful insight into the decisions and decision making processes of prospective customers.
An additional source of market research that is dynamic is a feedback mechanism based on a suggestion card system. The suggestion card system has several statements that customers are asked to rate in terms of a given scale. There are also several open ended questions that allow the customer to freely offer constructive criticism or praise. BikeArt will work hard to implement reasonable suggestions in order to improve their service offerings as well as show their commitment to the customer that their suggestions are valued.
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