Marketing Plan for a Sport Product Research Paper

Pages: 8 (2230 words)  ·  Bibliography Sources: 8  ·  File: .docx  ·  Level: Master's  ·  Topic: Business - Advertising

Marketing Plan for a sport product

The modern day society is often criticized for its unhealthy life style. The incidence of cancers or blood pressure related illnesses is increasing at alarming rates and a large portion of the diseases is correlated with an unhealthy life style marked primarily by the lack of physical exercise or by the inadequate nutrition. People are continually stressed and busy and do no longer have the time and the commitment to focus on their well-being.

In this context however, a specific trend is observed in the realization of the risks. More people begin to recognize the necessity for a healthier life style and they strive to improve the quality of their live. This is achieved through a series of physical exercises, but also through healthier alimentation and an overall increased emphasis on emotional stability. The result is that of a creation of a market for sports products which target this segment of the population. The aim of this endeavor is that of proposing a marketing plan for an aerobics class for women.

2. Strategic marketing

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The starting point in the construction of the marketing plan is constituted by the realization of the important role played by strategic marketing. The concept is generically understood as a process by which the organizational marketing elements are identified, prioritized, implemented and by which the marketing goals of the firm are accomplished. A specific are of strategic marketing is that of identifying and capitalizing on the organizational or product points of difference (Business Dictionary), but the process is also focused on reshaping the more common elements and capitalizing on them as well.

Given the context of this plan, the elements of strategic marketing to be addressed include the following:

The behavior of the customer in the sports market

The segmentation of the consumer market

The sports product

The sports brand

The licensed and branded merchandise

Marketing mix, ort the 4 Ps of marketing (product, place, promotions, price)

Sales

Sponsorships

Public relations

TOPIC: Research Paper on Marketing Plan for a Sport Product Assignment

Legal aspects

3. Sports consumer behavior

The sports product is a rather unique product, which means that the behavior of the sports consumer would differ significantly from the behavior of the general consumer. Relative to sports for instance, there are the associated health benefits and the necessity for sports, whether they are recognized or not. On the other hand however, there is the associated risk of injury, which might drive consumers in the opposite direction.

Another element in the behavior of the sports consumer refers to the objective of the practiced sport. The first category of objectives is given by the desire to win a specific sports competition. Consumers in this area usually play in teams and participate in tours; the spirit of the team is driving and the victory is an emotional stimulus. The second category of sports objectives is given by the desire to feel healthier and look better. Sports in this category are generally practiced individually and do not center on competition and the team spirit.

4. Marketing segmentation

The segmentation of the market for sports consumers is completed initially based on the objectives of each sport. In this order of ideas, a first consumer market is formed from individuals who seek the thrill of the competition, the activity and the socialization of a team sports. The second market segment is formed from those individuals who seek to improve themselves and who as such select sports not as fun, but as necessary workout.

Another criterion for segmenting the market is that of the actual participation of the individuals to the sport. In this order of ideas, there is the market segment of consumers who actually play the sport, and there is the market segment of spectators, or the people who simply watch the sports, cheer for their favorite team, consume sports specific products and so on.

A third criterion is represented by demographics, through which the consumers are segmented into males and females, but also into children, youth, mature and senior citizens. Socio-economic criteria such as income or levels of education are generally irrelevant in the segmentation of the sports consumers.

5. The marketing mix

The marketing mix is composed of the four elements which comprise the basis of any marketing endeavor -- the product, the price, the promotion and the place, or distribution. Each is characterized by its specific concerns and decisions, such as functionality, pricing strategy, advertising, distribution channels and so on (Net MBA, 2010).

5.1. The product

a) The product is an aerobics class, addressing primary women

b) The duration of one class is of 50 minutes, with the possibility of coupling two classes into a 100 minute session

c) The class would be offered by the specialized trainers at the center

d) The participants to class would be divided based on demographic and personal characteristics -- such as personal goal (weight loss vs. maintenance) -- and they would be integrated into groups with similar abilities. This element represents a major point of difference as the competition simply integrates all customers into a single group and does not personalize. It is expected that the women would respond positively to the decision.

e) The class would be offered in adequate conditions, in facilities with air, light and adequate amenities. All equipments and other tools are safe and efficient

f) The sports center also presents its customers with a wide array of complementary products. One free entry per week at the sauna is guaranteed with the purchase of an aerobics subscription. Customers can also purchase subscriptions or one entry tickets to the swimming pool, the gym, the tennis course or several other facilities within the center.

5.2. The price

a) The initial pricing strategy will be a penetration pricing strategy, through which lower retail prices would be implemented. This pricing strategy would ensure high levels of customer attraction.

b) As the customer base is consolidated, the penetration pricing strategy would be replaced with a variable pricing strategy. Through this, the retail price would be established in accordance with the costs incurred in the delivery of the aerobics class. Whenever the costs incurred suffer modifications, these changes would be reflected in the retail price of the aerobics class (Mills, 2002).

c) A question is being posed relative to the threat of losing customers as the pricing strategies are changed. In order to minimize this risk, the company will develop sustainable alternative to customer retention, such as high quality products, high quality services or intense customer experience.

d) The retail prices are continually subjected to changes as promotions are offered on monthly basis. As a current promotional sale, customers who purchase a subscription to the aerobics classes enjoy a 20 per cent discount on the purchase of another subscription to a sports product offered by the center.

5.3. The promotions

a) The promotional strategy is a pull one by which the customers are attracted to the aerobics product through informative and stimulating campaigns

b) The campaigns are created in a manner in which they specifically address women and present them the health and aesthetics benefits of the aerobics class

c) Customers are initially drawn through promotional sales with the penetration pricing strategy

d) The sports center employees are trained to offer high quality services and ensure satisfied customers

e) The overall promotional strategy is created to generate customer loyalty. High levels of customer loyalty are then expected to reduce organizational costs and increase the levels of profitability

f) The advertisements would be aired on various media channels and during those specific programs followed by the target market

5.4. The place

a) The aerobics class would be offered within the sports center, in high quality facilities

b) The distribution channel is a direct one and no intermediaries are posed between the service provider and the customer

c) Logistics responsibilities are shared between the sports center and its business partners and do not impact the customer. For instance, in case a specific aerobics equipment suffers damages, the sports center collaborates with its provider in order to resolve the situation.

d) The sports center does not assume any responsibility for the transportation of the customers to the sports center and this is to be handled specifically by the customers individually. The sports center does however offer free parking and it is located in an easily assessable area.

6. Sport brands

The product would be sold under the already established brand of the sports center. A new logo would however be assigned to the aerobics program in order to reveal its uniqueness and particular benefits. Additionally, this logo would also strive to appeal to women -- the target market for the aerobics class. At this moment, two slogans are under consideration for brand attachment: "Exercise for life" and "Beauty and life."

7. Licensed and branded merchandise

The aerobics class would make little use of branded and licensed merchandise. Still, this would exist and would materialize in the following:

Licensed audio files to ensure the musical background to the aerobics exercises

Aerobics… [END OF PREVIEW] . . . READ MORE

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