Marketing Enrique’s

This report provides strategies for Enrique's, an online store for sports equipment, to expand into new markets. It includes a SWOT analysis and PESTLE analysis to identify strengths, weaknesses, opportunities, and threats. It also recommends developing a SMART marketing plan and strategy for market penetration, development, product development, and diversification. Finally, it evaluates the marketing strategy using metrics such as return on investment, financial statements, customer response, market expansion, partner response, employees’ feedback, and competitor’s response.

Marketing Enrique’s
Name
Institution Affiliation

Introduction
 Enrique is a business person who sells sporting equipment.
 The market for his products is saturated in the united states.
 China and India are also large consumers of sports products.
 They are both located in the Asian continent and it would be easy for him to understand the
market and adapt to the tastes and preferences of the new consumers and respond to their needs
appropriately.
 He could use franchising to benefit from the knowledge of the franchisees and to cut down his
expansion costs.
 Franchising would also help Enrique to exploit all the opportunities in the market.
 This report recommends how he can expend his business in the new markets.

Elements of a Good Mission Statement
 According to Baker, (2014). A good mission statement should observe the following:
 It should focus on a limited number of goals- It should therefore be short and easily-
memorable.
 It should stress on the company's values and major policies- such as quality assurance
and pricing policy.
 It should define the sphere within which the company operates.
 It should have a long-term view.
 It should be short, memorable and it should have a meaning that reflects the company’s
values and policies.

Enrique’s Mission Statement
 “Get your favorite quality sports equipment delivered to your location urgently at affordable
prices”
 The above mission statement assures the customers that their preferred brand of sports equipment
such as Nike and Adidas are readily available.
 It also mentions that Enrique’s policy incorporates offering quality services within specific time
limits.
 The delivery of products is also another trait of Enrique’s outlined in the mission statement.
 The delivery services are mean to earn additional revenue for the company and to also boost the
growth of the company through accepting to deliver products to a wide range of destinations.
 The pricing of Enrique’s is also relatively lower than the other stores to enable the company to
attract more customers besides retaining the ones that it already has.

Enrique’s Internal Situational Analysis
 Enrique’s can conduct a SWOT analysis in order to identify its internal strengths, and
weaknesses and use them effectively to exploit the available opportunities and to cope
with the threats in the business environment.
 A SWOT analysis will help the company to know on what to capitalize and come up with
ways of dealing with the weaknesses highlighted (Mullin, Hardy, & Sutton, 2014).
 Being aware of the threats and opportunities facing Enrique’s also boost its revenue
generation since the additional opportunities adopted coupled up by avoiding most of the
losses will boost its profits and minimize its losses.

Enrique’s Global Environmental Scanning
 Conducting a PESTLE analysis is the best way to ensure the growth of Enrique’s in the
new markets in China and India.
 The analysis involves assessing the political, economic, social-cultural, technological,
legal and environmental factors (Ratten,2016).
 This analysis is aimed at understanding the events, tastes and preferences, trends, as well
as emerging issues such as convergence or divergence of consumer expectations.
 Identifying all the tend breaks is important in ensuring the continuity of Enrique’s into
the foreseeable future.

PESTLE Analysis of china’s Sports Industry
 Political Aspect- the government of China focuses on developing e-commerce (Ratten, 2016). Enrique’s should therefore
develop an online platform through which all transaction should be conducted until the customer gets the product by
delivery.
 Economic Factors- China’s economy is prospering by the day. Enrique should tap the available capital available for
investment and expansion and the abundant skilled labor.
 Social-cultural factors- the use of e-commerce is widely-sought and Enrique’s should consider advertising its products on
Taobao platform.
 Technological factors- China is highly developed in terms of technology and Enrique’s should exploit the available
technology to minimize operational costs and to boost its sales.
 Legal issues- the legislation on e-commerce are still developing. Enrique’s should have enough money in its reserves to
ensure that it will be ready to make the changes that may be required by the law in the future.
 Environmental factors- Enrique should take into account emerging trends and fashion and to avail the most demanded
products. Developing strategies that match customers wants and preferences will further boost the revenues of the
company.

Enrique’s Marketing Plan
 The marketing plan for Enrique’s is SMART; Small, Measurable, Achievable, Realistic and
Time-bound (Baker, 2014).
 Enrique should aim at making a 10% profit in all the new markets,
 Using franchises is a good way of competing effectively in the new markets.
 The company should expect little profit margins as it expands given that a lot of funds have
to be devoted to expansion.
 The establishment of the company in new markets should involve laying the requisite
infrastructure within the first three years of expansion.
 The company should also retain a lot of funds for investments and contingencies thereby
supplementing its long-term growth.

Enrique’s Marketing Strategy
 The marketing strategy involves market penetration, market development, product development
and diversification (Ratten, 2016).
 Enrique should penetrate the market by boosting better relations with the customers. The
company should also use databases to understand customer segments thereby serving them better.
 The market development strategy should include conducting thorough research and building
product awareness to the target customers.
 Product development should arise from the research conduct. The introduction of new products to
Enrique’s should be done based on the results of the research. The adoption of delivery services is
among the key ways that Enrique’s will boost its revenues.
 Enrique’s should aim at satisfying the customers emerging trends and fashion and availing the
products in its stores.

Implementation of Enrique’s Marketing
Strategy
 Enrique’s should first set the right expectations.
 The next step should be to prepare human resources and to set aside the necessary
resources for the implementation of the strategy.
 Enrique’s should then communicate the strategies to all the stakeholders.
 The timelines should then be set for the implementation of the strategy and the task
attached to specific timelines within which they will be carried out.
 The company should then develop a way of tracking its progress.
 The monitoring of progress should be done regularly.
 Enrique’s should deal with all failures promptly and celebrate its successes.

Evaluation of Enrique’s Marketing Strategy
 Acccording to Möller & Parvinen, (2015), the following metrics should be used in assessing market strategies.
 Return on investment- assessing the gains from the investment relative to the initial outlay is a good way of evaluating Enrique’s
viability.
 Financial statements- looking at the items on the balance sheet such as the assets and comparing them to the liabilities is a good
way of tracking Enrique’s progress.
 Customer response- The feed back offered by the customers is a god indicators of the efficiency of the company in meeting the
needs of the customers relative to the prevailing tastes and preferences.
 Market expansion- The penetration of the company into new markets and its growth in the new regions is also a reliable metric of
business performance.
 Partner response- the response of partners such as subscription for more shares would indicate good performance while their
backing down would indicate poor performance.
 Employees’ feedback- evaluating the workers’ willingness to work and the reports that they make about the company are very
important since they are directly involved with the customers.
 Competitor’s response- the leniency or seriousness of the competitors is also an important indicator of Enrique’s performance.

Summary of Enrique’s Global Environment
and the Product
 The demand for sports products is increasing with the growth of world population and
the increased emphasis for sports (Baker, 2014).
 The trends and fashion in sportswear do not affect the sales of Enrique’s since it is just a
store that sells the popular products to the customers.
 Franchising also places Enrique’s at a good competitive positions with other stores since
most of the franchisees have the requisite knowledge and experience in the new markets.
 The emulation of e-commerce is the best way to approach the global market (Mullin et
al, 2014). It will supplement Enrique’s policies of low pricing and availing the products
that the customers demand the most.

Reference
 Baker, M. J. (2014). Marketing strategy and management. Macmillan International Higher
Education.
 Mullin, B. J., Hardy, S., & Sutton, W. (2014). Sport Marketing 4th Edition. Human Kinetics.
 Ratten, V. (2016). The dynamics of sport marketing: Suggestions for marketing intelligence and
planning. Marketing Intelligence & Planning, 34(2), 162-168.
 Möller, K., & Parvinen, P. (2015). An impact-oriented implementation approach in business
marketing research: Introduction to the Special Issue on “Implementing Strategies and Theories of
B2B Marketing and Sales Management”. Industrial Marketing Management, 45, 3-11.