Marketing Plan for Shine Cycle: Strategies and Recommendations

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This report provides a comprehensive marketing plan for Shine Cycle, analyzing its current practices and offering strategic recommendations. The report begins with an executive summary and table of contents, followed by an overview of marketing objectives. It then delves into target market analysis, identifying key segments like young athletes and health-conscious individuals. A situational analysis, including SWOT and PESTLE analyses, assesses the company's strengths, weaknesses, opportunities, and threats, as well as political, economic, social, technological, legal, and environmental factors. The report specifies the 7Ps of marketing, including product, price, place, promotion, people, process, and physical evidence. Finally, it evaluates the current marketing efforts and provides recommendations for improvement, such as renovating locker rooms, altering the cafe's architecture, and introducing subscription offers. The report highlights the importance of customer service, innovation, and social media marketing in achieving business objectives.
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Running head: MARKETING
Marketing practices of Shine Cycle
Name of the student:
Name of the university:
Author note:
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Executive summary
Marketing is an art, which all of the brands need to be aware about. Marketing tools and
techniques are to be considered for practicing scientific management towards fulfilling the
needs, demands and requirements of the clients and customers. Shine Cycle needs to be
praised for indulging in collaboration, which enhances the commitment towards achieving
customer satisfaction. Focusing the target on the young professional atheletes is a productive
option for increasing the sales revenue and profit margin. Renovation of the locker rooms and
location of the café is an effective plan for altering the business outlook.
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Table of contents
Marketing Objectives.................................................................................................................3
Target Market analysis...............................................................................................................3
Situational Analysis...................................................................................................................4
SWOT....................................................................................................................................4
PESTLE analysis....................................................................................................................5
Specifications of 7Ps..................................................................................................................6
Evaluation..................................................................................................................................7
References..................................................................................................................................9
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Marketing Objectives
To conduct renovation of the locker rooms of Shine Cycle
To change the architectural planning of the café and bars of Shine Cycle
To introduce lucrative offers and discounts on the subscription to the magazines
issued by Shine Cycle
To revise the data packs for expanding the customer base of Shine Cycle
Target Market analysis
Shine cycle conducts behavioural segmentation for identifying the targets. The
criterion in this context is passionate towards adventure sports like cycling. As a matter of
specification, children, athletes, professional youths and health conscious people. The
activities of the people are tracked and monitored in the social media and the magazine
responses, which act assistance for gaining an insight into the specific tastes and preferences.
Renovation of the locker rooms through flexible locks would be an innovative option for
catering to the security and privacy of the customers (Shine-cycle.com, 2019). Alterations in
the architectural planning of the café and bars would relate to the initiatives to address the
convenience of the customers. For example, if the café and bars are constructed in the lawns,
then the outsiders can also come and taste the food and beverages. According to Fan, Lau and
Zhao, (2015), systematic planning in this context would be one of the means for increasing
the income.
Offers, discounts and schemes on subscription to the magazines can be one of means
for expanding the customer base in Shine Cycle. Offers like $24 per year for subscription is
quite feasible for the customers belonging to the middle class. However, the benefits of the
subscription needs to be shared on the social media. For the professional youths, plans like 7
days of unlimited Instagram for $5 would be an innovative option (Shine-cycle.com, 2019).
Moreover, the sales revenue and profit margin would increase. Renovation of the interior
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decoration is one of the plans, which would indicate a higher customer attraction. Celebrity
endorsement for film shoots and others would enhance the brand image.
From these targets, young athletes can be selected. This is because, they are the one
who are passionate towards becoming fit and healthy. Locks for the locker rooms would
ensure the safety and privacy of their personal belongings. Datta, Ailawadi and Van Heerde,
(2017) is of the view that renovating the location of the café and bar would increase the sales
revenue and profit margin.
Situational Analysis
SWOT
Strengths
Effective customer service
Innovation and collaboration
supports the customer experience
Yoga facilities
Strong and flexible supply chain
network
Weakness
Lack of concrete plans for the locker
rooms
Improper location of the café and
bars
Opportunities
Social media marketing
Magazine subscriptions and offers
Threats
Negligence towards flexibility in the
plans for maintaining the lockers
Shine Cycle is one of the destinations, which caters to the wellness of the clients and
the customers. Effective customer service is reflected from the provision of ‘dynamic
instructions, immersive illustrations and pioneering music, which provides a mesmerizing
experience to the customers (Shine-cycle.com, 2019). Innovation is planned for alterations in
the architectural plans of the studios. Here, privacy is the main aim for ensuring that the
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artists get the due privacy. Yoga is one of the specialities of the company, which caters to the
invocation of inner strengths of the customers, empowering them towards their individuality.
Absence of concrete plans regarding installing flexible locks for the lockers is a
weakness, adding to the insecurities of the customers. Lack of proper supervision can lead to
thefts, leading to the loss of the property and belongings of the customers. Negligence
towards this issue would compel the brand to encounter customer turnovers. Therefore, Liu et
al., (2017) states that social media marketing can be one of the ways for reaching to large
number of audience at the same time. Subscriptions for the magazines is also effective in
terms of expanding the customer base. The offers, schemes and discounts for subscription
also needs to be monitored, so that the third parties do not take undue advantage and extract
the confidential information.
PESTLE analysis
Political Political unrests
Strict tax obligations
Economic Inflation
High prices of the spare parts of the machines and equipment
Fluctuation in the prices of the raw materials
Social Changing preference of the customers towards yoga, cycling
Technological Social media marketing
Online Subscription offers for the magazines
Legal Consumer Protection Act
Data Protection Act
Computer Misuse Act
Environmental Environment friendly bicycles
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Strict tax obligations is an obstacle in terms of exporting the renovated spare parts of
the cycles to the foreign countries. Political unrests is an addition to the complexities.
Inflation, high prices of the spare parts and equipment also results in determining the prices.
In such a scenario, Stead and Hastings, (2018) opines that indulging in strategic alliances
with the trade union members would assist Shine Cycle in dealing with these instabilities.
Strategic management is needed in the form of marketing plans through the means of
marketing mix. Organic and healthier options in the foods and beverages along with latest
gym and cycling equipment would cater to the specific tastes and preferences of the
customers. Online subscription offers are one of the means through which the brand can
establish contact with large number of customers at the same time.
Consumer Protection Act and Data Protection Act would reflect the legal compliance,
which is needed for averting the instances of illegal scandals and issues. Computer Misuse
Act is also important in terms of ensuring that the activities of the customers for availing the
online subscription in an efficient and effective manner (Pavlou & Stewart, 2015).
Introducing environment friendly bicycles would be an initiative towards contributing
towards preservation of the ecological biodiversity.
Specifications of 7Ps
Product Cycles, healthy and organic foods, Yoga
equipments (mats)
Price Monthly packages
I month unlimited (BND 200)
3 months unlimited (BND 500)
Place Studios, birthday parties, events
Promotion Social media marketing, magazines
People Expert trainers
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Process Classes, yoga, locker facilities
Physical Online shopping facilities
Innovation is planned in the foods and beverages along with the cycling events for
influencing the purchasing decision and power of the clients and the customers. Options are
provided to the customers in the form of packages, which they select according to the
preference and affordability. Promotional advertisements are conducted through the means of
magazines and social networking sites, which helps in increasing the trafficking of the
audience towards the brand image (Abril & Rodriguez-Cánovas, 2016). Expert trainers
supervise the performance of the customers in the yoga classes, which ensure the safety and
wellbeing. Assistance is also provided to the customers, who lack the ability and flexibility.
Café facilities are also presented to the customers, which reflects the consciousness towards
the appetite needs after exercise. Online shopping is an initiative towards expanding the
scope and arena of the business.
Evaluation
Shine Cycle is one of the destinations, which helps the customers to enhance their
wellness. The personnel conduct marketing mix for detecting the specific needs, demands and
requirements of the clients and the customers. As per the arguments of Stead and Hastings,
(2018), the infrastructure is a stable one, which assists the celebrities to complete their film
shoots. Plans are being conducted for renovating the lockers of the lockers rooms and the
location of the café and bar. Additional capital is required for completing the project as per
the requirements. Events like marathons can be one of the means for contributing to the
environmental protection (Datta, Ailawadi & Van Heerde, 2017). These events would lure
the young atheletes from all over the world, expanding the customer base. Promotional
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advertisement of healthy energy drinks by the cafes in the events can be an effective source
of income.
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References
Abril, C., & Rodriguez-Cánovas, B. (2016). Marketing mix effects on private labels brand
equity. European journal of management and business economics, 25(3), 168-175.
Datta, H., Ailawadi, K. L., & Van Heerde, H. J. (2017). How well does consumer-based
brand equity align with sales-based brand equity and marketing-mix response?.
Journal of Marketing, 81(3), 1-20.
Fan, S., Lau, R. Y., & Zhao, J. L. (2015). Demystifying big data analytics for business
intelligence through the lens of marketing mix. Big Data Research, 2(1), 28-32.
Liu, Y., Li, K. J., Chen, H., & Balachander, S. (2017). The effects of products’ aesthetic
design on demand and marketing-mix effectiveness: The role of segment
prototypicality and brand consistency. Journal of Marketing, 81(1), 83-102.
Pavlou, P. A., & Stewart, D. W. (2015). Interactive advertising: A new conceptual framework
towards integrating elements of the marketing mix. In New Meanings for Marketing
in a New Millennium (pp. 218-222). Springer, Cham.
Shine-cycle.com (2019). About us. Retrieved 11th Dec 2019 from https://www.shine-
cycle.com/about
Stead, M., & Hastings, G. (2018). Advertising in the social marketing mix: getting the
balance right. In Social Marketing (pp. 29-43). Psychology Press.
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