This sample marketing plan was created with Marketing Plan Pro software.
The key to the marketing strategy is focusing on the speed, health and fitness, and recreational skaters. Pegasus can cover about 80% of the skating market since they produce products geared towards each segment.
Pegasus is able to address all of the different segments within the market because although each segment is distinct in terms of its users and equipment, Pegasus' products are useful to all of the different segments.
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Pegasus Sports International's mission is to provide the customer with the finest skating accessories available. We exist to attract and maintain customers. With a strict adherence to this maxim, success will be ensured. Our services and products will exceed the expectations of the customers.
With a world skating market of over 31 million and steadily growing (statistics released by the Sporting Goods Manufacturers Association), the niche has been created. Pegasus' aim is to expand this market by promoting SkateSailing, a new sport which is popular at both Santa Monica and Venice Beach in California.
The Sporting Goods Manufacturers Association survey indicates that skating now has more participation than football, softball, skiing, and snowboarding combined. The breakdown of participation of skating is as follows: 1+% speed (growing), 8% hockey (declining), 7% extreme/aggressive (declining), 22% fitness (nearly seven million--the fastest growing), and 61% recreational (first-timers). Our products are targeting the fitness and recreational groups, as they are the fastest growing. These groups are gearing themselves towards health and fitness, and combined, they can easily grow to 85% (or 26 million) of the market in the next five years.
Pegasus will position themselves as the premier aftermarket skating accessory company. This positioning will be achieved by leveraging their competitive edge: industry experience and passion. Pegasus is a skating company formed by skaters for skaters. They are able to use their vast experience and personal passion for the sport to develop innovative, useful accessories for a broad range of skaters.
The single objective is to position Pegasus as the premier skating accessory manufacturer, serving both the domestic market as well as international market. The marketing strategy will seek to first create customer awareness concerning the offered products and services and develop the customer base.
The message that Pegasus will seek to communicate is that they offer the best-designed, most useful skating accessories. This message will be communicated through a variety of methods. The first will the use of their robust website. As well as a rich source of product information, the site will also be used for purchasing. A lot of time and money will be invested into the site to provide the customer with the perception of total professionalism and utility for Pegasus' products and services.
The second method will be advertisements placed in numerous industry magazines. The skating industry is supported by several different glossy magazines designed to promote the industry as a whole. Additionally, there are a couple of smaller periodicals that serve the smaller market segments within the skating industry.
The last method of communication is the use of printed sales literature. The two previously mentioned marketing methods will create demand for the sales literature that will be sent out to customers. The cost of the sales literature will be fairly minimal as it will use the already compiled sales information from the website.
Pegasus' marketing mix is comprised of the following approaches to pricing, distribution, advertising and promotion, and customer service.
Pegasus is blessed with good fortune of being located in the center of the skating world, Venice, CA. Pegasus will be able to leverage this opportune location by working with many of the different skaters that live in the area. Pegasus was able to test out all of their products, not only with the principals who are accomplished skaters, but also the many other dedicated and "newbie" users located in Venice. The extensive product testing by a wide variety of users provided Pegasus with valuable product feedback and has led to several design improvements.
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