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Sports Equipment Marketing Plan Marketing

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Sports Equipment Marketing Plan Marketing Powered By Docstoc
					This is a plan that helps guide businesses in making efficient marketing decisions based
on relevant statistics. Marketing plans allow the marketing budget to be spent on
effective campaigns and strategies in order to maximize marketability and exposure.
This particular marketing plan is based on a fictitious company in order to provide
examples on what is required to draft a successful marketing plan. This plan can be
used by small businesses or other entities that want to create their own marketing plan
in order to maximize marketing efficiency.
         Sports Equipment Marketing Plan
                                [Acme Slingshot Co.]




                                   Fiscal Year [20XX]
                                Prepared by [Your Name]




© Copyright 2011 Docstoc Inc.                             2
                                        Confidentiality

The reader acknowledges by examining or possessing this packet that the information within this
marketing plan is confidential. The reader agrees not to disclose any of this information, without
the express written permission of [Acme Slingshot Co.]. The reader acknowledges that any
information in this marketing plan is confidential in nature, unless otherwise in the public
domain and that to disclose any of the information within may cause serious harm or damage to
[Acme Slingshot Co.], and may result in legal action being taken.


Upon request, please return this document IMMEDIATELY to:


___________________________________________________




© Copyright 2011 Docstoc Inc.                                                         3
Table of Contents
I. Executive Summary……………………………………………………………………5
       Introduction……………………………………………………………………... 5
       Purpose & Objectives…………………………………………………………… 5
       Marketing Opportunities………………………………………………………… 5

II. Environment Analysis………………………………………………………………...6
Customer Analysis……………………………………………………………………….. 6
Ideal Customer…………………………………………………………………………… 6
Needs…………………………………………………………………………………….. 6
Trends……………………………………………………………………………………. 6
Growth…………………………………………………………………………………… 7
Competition Analysis……………………………………………………………………. 7

III. Internal Analysis……………………………………………………………………..8
Performance……………………………………………………………………………… 8
People…………………………………………………………………………………….. 8
Infrastructure & Delivery………………………………………………………………… 8
Competitive Edge…………………………………………………………………………8
Product…………………………………………………………………………………… 9
Price Rationale…………………………………………………………………………… 9

IV. SWOT…………………………………………………………………………………10

V. Fundamental Marketing Strategies………………………………………………….11
Mission…………………………………………………………………………………… 11
Marketing Objectives…………………………………………………………………….. 11
Supply……………………………………………………………………………………. 11
Demand…………………………………………………………………………………... 11
Competition……………………………………………………………………………… 11
Position…………………………………………………………………………………... 12
USP & Key Differentiators………………………………………………………………. 12

VI. Implementation & Control…………………………………………………………..13
Implementation…………………………………………………………………………... 13
Control…………………………………………………………………………………… 14

VII. Financial Forecast…………………………………………………………………..15
Break-even Analysis……………………………………………………………………... 15
Sales Forecast……………………………………………………………………………..15
Cost of Marketing………………………………………………………………………... 15

VIII. Conclusion…………………………………………………………………………..16



© Copyright 2011 Docstoc Inc.                        4
Executive Summary
(In this section, briefly describe the company, where it stands in the market, and what
opportunities are available. Although this appears first in the document, you may wish to wait
until later to write the Executive Summary as it is intended to summarize the main points of your
plan. If you have a business plan, you can use parts of your Executive Summary from that
document to fill this out.)

Example: The Acme Slingshot Co. has been in operation for 55 years. Starting out as a one-room
operation making each sling by hand and advertising solely in the back pages of comic books,
we have over the last half-century expanded our operations to a 20,000-square-foot facility,
international distribution and an online storefront that drives nearly half of our sales. As we enter
our 56th year in operation, we have significant opportunities to grow our share of the market by
focusing on what drives our key demographics.

Purpose & Objectives

(In this section, briefly outline the purpose of the Marketing Plan, including company objectives
and strategies that are being suggested based upon the research you have conducted to create
this plan.)

Example: This marketing plan for fiscal year 2012 outlines our goals for growing our customer
base and increasing revenue, and the approach we plan to take in order to achieve these goals.

Marketing Opportunities

(In this section, go into more detail about current market conditions. Explain to the reader what
opportunities arise out of these conditions, and describe how your company can take advantage
of them.)

Example: In the past fifteen years, our business has grown exponentially, as have our revenues,
thanks in large part to a steadily growing community of slingshot enthusiasts in America and
abroad who have singlehandedly revived the sport. Cable sports channels have picked up on this
trend in the past five years, and there is now talk of slingshot marksmen competing in the 2018
Summer Olympics. Needless to say, the Internet, and in particular social media, has played a
pivotal role in making this sport a household name.

We feel that as the major player in the slingshot market, possessing 54 percent of the market
share, it would be in the best interest of the company and the sport for us to cement the
community by launching a new site, www.SlingshotEnthusiasts.com. The site will be tied in to
our online storefront and will invite novices and experts alike to read articles, watch videos and
connect with each other over the mutual interest of slingshot marksmanship. This site will be a
great way for us to bring our customer base straight to our door, with direct connections to our
online storefront. We can also use it to recruit new customers, who will be able to watch training
videos as well as clips of sporting events, read articles on a variety of topics (how-to, the history
of slingshots, etc.), and participate in discussions with other enthusiasts via discussion boards.

© Copyright 2011 Docstoc Inc.                                                             5
We must also look at increasing our visibility on cable sports channels and in sport and hobby
magazines by officially sponsoring some leading athletes. By identifying and recruiting five
athletes, we believe we can drive our brand recognition even higher.

Environment Analysis
Customer Analysis

Ideal Customer

(In this section, describe your ideal customer. Discuss their income, age group, spending habits,
lifestyle, geographic location, frequency of purchase of your product/service, what percentage of
their income goes towards your product/service, media and social networking habits, brand
loyalty, and other traits that affect how they perceive and purchase your product/service. You
may find that you have several kinds of ideal customers. Separate them and discuss them
individually, since their differences may affect how you approach marketing to them.)

Example:
Enthusiasts, Men 14 - 35

This category is our largest demographic and features men who religiously follow the sport on
television, in magazines and online. They are driven by a strong technical understanding of the
mechanics and the thrill of competition, and will spend a considerable amount of money for
equipment that they perceive will give them an advantage. This demographic is largely white,
though a growing segment of this population is Latino.

Athletes, Men & Women 14 - 45

Hunters, Men 13 – 55


Needs

(In this section, discuss the needs of your ideal customer that are not currently be met by the
market, with an eye toward taking advantage of these needs).

Trends

(In this section, discuss any trends in the market, like changes in household incomes, new
technologies, world events, and shifting cultures that affect the way you do business or currently
reach your customer.)

Example: As outlined previously, the Internet has led to a huge boom in interest and sales, and
has led to the appearance of slingshot marksmanship in the sports world. We have every
confidence that this trend will continue to grow, and we plan on using our online storefront to
reach new customers and keep long-time customers continuously engaged. We expect to see our
© Copyright 2011 Docstoc Inc.                                                           6
online storefront surpass all other POS within the next two years and become our main means of
distribution. For this reason, we are developing a new website devoted to the sport that will be
tied to our online storefront with the intention of serving as a source of information and
inspiration to our customers, and as a place to build a social network connecting customers to
each other from all over the world.

Growth

(In this section, discuss projected growth in the market and important variables that adversely or
favorably affect it.)

Competitor Analysis

(In this section, discuss your competition. Separate each into their own paragraph or set of
paragraphs, and outline their market share as well as a brief overview of their company history,
the products/services they offer, and their target market.)

Examples:
There is really only one other competitor with a significant share of the market, Bing’s Slings.
All the other companies currently selling slingshots are specialty companies devoted to boutique
apparatus’ or selling refurbished and antique ones.

Bing’s Slings – Based out of Chattanooga, Tennessee, Bing’s Slings has a 31-percent share of
the market. They have been in business for a little over 20 years and have a strong business
model, though it's geared toward a slightly younger demographic. Their slingshots are typically
designed more with appearance in mind (bright colors, odd frame shapes) than actual function,
and while they work fairly well, they do not have the accuracy of most of our models. They are
attractive to young boys and young men who like their appearance, but almost no professional
slingshot athletes use these models.

Gary Burke, Unlimited

Slings ‘n’ Things




© Copyright 2011 Docstoc Inc.                                                         7
Internal Analysis

Performance

(In this section, give a brief overview of your company’s performance with a general (and
concise) look over the life of the company and a more critical focus on the past one to two years.
Detail the market share that the company currently holds.)

Example: We have been making slingshots for 55 years, always with a steady but minor
following. About 15 years ago, sales began to steadily pick up speed, with a huge growth in
interest around 1998. Thanks to foresight and courage on the part of Carl White, our founder and
CEO, we quickly took advantage of the trend to bring on a team of engineers charged with the
task of updating our models to improve their accuracy and physical appeal, after which the sport
of slingshot marksmanship began to receive serious media attention.

This past year we have seen record breaking profits, tied closely to the buzz that the sport might
find a home on the Olympic stage. Our market share is 54 percent, up 2 percentage points from
last year, and up 29 percentage points from 20 years ago. We believe this is due in part to the
excellent design of the Acme Slingshot and in part to our swift creation of an online storefront,
which was up and running for three years before any other competitor was selling anything
online.

People

(In this section, discuss the staff and leadership in your company. Depending on the marketing
strategies included in this plan, you may want to discuss how easily staff can be trained, how
connected staff is to the local community, etc.)

Example: We have a staff of engineers and designers who are constantly reviewing and testing
our models and speaking to athletes and enthusiasts. These individuals are committed to
improving our product by speaking directly with our customers.

We have pulled together an in-house marketing team that is poised to take over the online
storefront (previously run by an outside firm) and www.SlingshotEnthusiasts.com, as well as
athlete sponsorships, at the beginning of 2012.

Infrastructure & Delivery

(In this section, discuss the infrastructure of your business, including physical locations and your
online presence. Discuss how you deliver your product/service to your customers. If you sell
through a third-party (retail store, Amazon.com, etc.) list them here.)

Example: We have a 20,000-sqare-foot facility in Palo Alto, California, where we manufacture
and assemble our slingshots. We have an online storefront, www.AcmeSlingshotCo.com, where
we retail to the public and merchandisers.

© Copyright 2011 Docstoc Inc.                                                           8
We distribute our products to sports equipment companies, retail stores and hobby shops all over
the globe, utilizing UPS freight to deliver our products.

Competitive Edge

(In this section, discuss your competitive edge. What it is that you offer to your clients that your
competition does not or cannot? Discuss strategies designed to respond to and outrun your
competition in the future.)

Example: We have greater brand name recognition than any other slingshot company, hands
down. Our online storefront is easy to use and very up-to-date, using the latest technologies in
online payment processing and tracking to help us serve our customers securely while also
recording and studying trends.

Our slingshots are not as flashy as those sold by Bing’s Slings, but we rely on our reputation as
makers of an incredibly accurate piece of equipment to conquer this circumstance. Quite often,
customers who buy Bing’s Slings graduate to our slingshots when they decide to take the sport
more seriously. It is rare for this to happen in reverse.

Product

(In this section, outline your products/services with descriptions and alignment to your ideal
customer(s).)

Examples:
The Mach Series – This series comprises solid slingshots built for marksmen who compete in
shooting expos and who want accuracy.

The Trekker Series – These slingshots are designed with hunters and farmers in mind to deliver
powerful ammo to the target.

The Youth Series – These slingshots are scaled down, intended for younger enthusiasts.


Pricing Rationale

(In this section, explain your pricing rationale and why it is an appropriate strategy for the
market. Also discuss how you will continue to monitor this strategy for effectiveness. Are you
working with a low-cost/high-volume system, a high-cost/low-volume system, or an alternative
system?)




© Copyright 2011 Docstoc Inc.                                                             9
SWOT
(In this section, lay out your strengths, weaknesses, opportunities, and threats as a business.
Writing about these will help you to understand the factors that affect your business from within
and without.)

               Strengths                      Weaknesses
                   Strong Customer              Visual Appeal
                      loyalty                    Online abandonment rate
                   Strong brand name            Recession/unemployment
                      recognition                  rates
                   A considerable share
                      of the market




               Opportunities                  Threats
                  Growing tech-savvy             Online storefronts of other
                    customer base                   competitors
                  Olympic possibilities          Lack of access to important
                  New technologies                 manufacturing materials
                                                  Brain drain




(Give detail here for each bullet in the SWOT diagram, and take this opportunity to explain how
your business will utilize its strengths and opportunities to eliminate weaknesses and threats.)

Strengths
       [Strength details]

Weaknesses
       [Weakness details]

Opportunities
       [Opportunity details]

Threats
       [Threat details]



© Copyright 2011 Docstoc Inc.                                                          10
Fundamental Marketing Strategies
(This is the most important part of your Marketing Plan, and you will need to spend some time
with it to make sure that your plan is grounded and viable.)

Mission

(In this section, state your mission with regards to the outcome of this marketing plan.)

Example: Our mission with this marketing plan is to continue to grow our customer base,
reinforce brand loyalty and see a significant ROI as a result by building our new website for
enthusiasts and by seeking to sponsor several athletes who are well-known by fans of the sport.


Marketing Objectives

Supply

(List your marketing objectives that will involve increasing (in actuality or in customer
perception) products or services.)

Example: We are always evaluating and testing our products to expand accuracy, speed and
power, and we will continue to roll out new breakthroughs as they come.

Building www.SlingshotEnthusiasts.com will offer an online home to a huge community and the
sport's fan-base. Though the website itself will be free to access, it will be an incredible
marketing tool.

Demand

(List your marketing objectives that will involve increasing demand for your product/service,
either by identifying a problem that your product/service solves or by reaching out to new
customers.)

Example: By sponsoring highly visible athletes, we will be able to place the name of our
products in a favorable light, increasing brand-name recognition and creating positive
associations with our slingshots.

Competition

(List your marketing objectives that will serve to mitigate certain advantages that your
competitors currently have. Don’t forget to include how you will let your customers know that
you have done this.)



© Copyright 2011 Docstoc Inc.                                                           11
Position

(List your business’ current position in the market in relation to your competition, and describe
the position you want the business to hold. Then, detail how your marketing objectives will either
allow you to hold that position (if at the top) or reach the desired position.)


USP & Key Differentiators

(USP is your business’ Unique Selling Proposition. This is what your business does for the
customer that gives you an edge over the competition. Refer back to this when developing the
message you want this marketing strategy to convey to your customers.)

Example:

Our USP - We make a solid product built for accuracy, speed and power, and built for real
enthusiasts.

(Key differentiators are specific things that your product/service does to back up the USP.)

               We design our slingshots with the input of our customers in mind
               We are more interested in designs that work than in slingshots that have been built
                for looks
               Our site for enthusiasts will offer a home for those passionate about the sport, and
                will thus cement the sport’s foothold around the globe.




© Copyright 2011 Docstoc Inc.                                                           12
  Implementation and Control

  Implementation

  (Use this table to outline the specific actions (include dates and the roles and responsibilities of
  key players) that will be used to implement your marketing strategy.)

Role - Responsibilities                  Owner               Oversight        Deadline/Frequency

Website                                  Head of             CEO              February 2012
                                         Marketing

    -Design                              Web Developer       VP Marketing     December 2011

    -Weekly Blog                         Head of             CEO              weekly
                                         Marketing

    -social networking sites             Head of             CEO              weekly
                                         Marketing

    -Viral Launch Campaign               Head of             CEO              December 2011
                                         Marketing

Athlete Sponsorships                     Head of             CEO              Every six months
                                         Marketing

    -Identify and contact                Head of                              January 2012
       five athletes                     Marketing/CEO

    -Final negotiations                  Head of                              May 2012
                                         Marketing/CEO

    -Design of sponsorship               Head of             CEO              June 2012
      platform                           Marketing




  © Copyright 2011 Docstoc Inc.                                                             13
Control

(Use this table to outline how your company will evaluate the effects and effectiveness of your
plan.)


     Activity                           Performed by                 Frequency

     Staff Performance Evaluation       Office Manager               Annually

     Salary and Incentive Review        CEO                          Annually

     Measure Results Against            Marketing                    Monthly/Quarterly/Annually
     Projections                        Manager/Accountant

     Measure number of registered       Marketing Manager            Monthly
     users on website

     Monitor Industry Surveys           Marketing Manager            Weekly




© Copyright 2011 Docstoc Inc.                                                          14
Financial Forecast

Break-even Analysis
(Use a table, graph or chart that can accurately capture your business’ break-even analysis.)

Operating Expenses
Fixed Costs                                                1,000,000
Variable Costs                                                   40%

Break-even Revenue – rounded                               1,670,000

Required Total Revenue                                     1,670,000
Assumed Product Revenue                                         75%
Required Product Revenue                                   1,272,500



Sales Forecast

SALES              Dec             Jan          Feb          Mar            Apr

Mach Series        $8,000          $10,000      $12,000      $12,500        $12,500

Trekker Series     $2,000          $2,500       $3,000       $3,500         $4,000

Youth Series       $650            $700         $750         $800           $850
Total Sales        $10, 650        $13,200      $15,750      $16,800        $17,350



Cost of Marketing

Year                      2010               2011           2012              2013
Spending                  $3,130             $4,870        $7,220            $9,810
Growth                                       55.6%         48.3%              35.9%




© Copyright 2011 Docstoc Inc.                                                         15
Conclusion
(Enter two or three sentences to wrap up all the information and bring this plan to a close.)




© Copyright 2011 Docstoc Inc.                                                          16

				
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Description: This is a plan that helps guide businesses in making efficient marketing decisions based on relevant statistics. Marketing plans allow the marketing budget to be spent on effective campaigns and strategies in order to maximize marketability and exposure. This particular marketing plan is based on a fictitious company in order to provide examples on what is required to draft a successful marketing plan. This plan can be used by small businesses or other entities that want to create their own marketing plan in order to maximize marketing efficiency.