Entrepreneurial Marketing Plan for The Sports Emporium Business

This report presents a comprehensive marketing plan for the Sports Emporium, a sports equipment business owned by Steve Banks. It begins with a situation analysis, examining the internal and external business environments, market opportunities, competitive landscape, and the venture's strengths and weaknesses. The report then outlines specific marketing objectives and goals, focusing on increasing market share and sales. A detailed marketing strategy and action plan are proposed, utilizing the marketing mix (product, price, place, promotion) and incorporating online business strategies. The plan also includes a marketing calendar, budget allocation, and control mechanisms to monitor and evaluate the effectiveness of the marketing efforts. The report provides a breakdown of the budget for the next five years and a timescale for different stages of the plan, ensuring a structured approach to achieving the business's objectives.

Entrepreneurial Marketing

Table of Contents
Introduction...........................................................................................................................................3
Situation Analyses..................................................................................................................................3
Marketing Objectives and goals.............................................................................................................5
Marketing strategy and action plan.......................................................................................................5
Budget ..................................................................................................................................................6
Control and timescale............................................................................................................................6
Conclusion ............................................................................................................................................7
References.............................................................................................................................................8

Introduction
It is essential for a business organization is to make appropriate marketing plan in order to
meet their short and long term goals. It is one of the competitive task which involves various
stages and supported by strategy and tactics. Marketing plan is defined as the blueprint or
comprehensive document which outlines marketing efforts and business advertising. It also
defines activities of business need for achieving marketing objective (Baker and Baker,
2010). This report is based on the case study of sports emporium which is sports shop owned
by Steve Banks. He operates his shop in the location which is on outskirts of the city and
therefore was not getting any profit. He then decided to open it in a sports complex called
racquet sports centre with the aim to achieve profit and revenue.
Situation Analyses
Business environment is too complex and uncertain which required a careful analysis. There
are two major environments internal and external. Internal factors include customer,
employees, suppliers, government, investors etc. These elements can be controllable for the
company. on the other hand, External factors involves political, economic, social, legal and
so on which cannot be controlled by the firm. Therefore, it is the responsibility of the
companyto analyses these environments in order to minimise its impact.
 Background of venture
In the current report the business is related with the sports equipment in United Kingdom.
It is a small venture which owned and managed by Steve Banks. This sport shop was
started before one year but failed to attain their target (Bergstedt, 2010). Now, owner
wants to revive their business by using an appropriate marketing plan. The further details
of their business is given below:
Company Name The Sports Emporium
Location Middle-Hampton
Founder Steve Banks
Product Sports related equipment
 Market opportunities and threats

As per the given case study in the area of sport equipment supplier large market
opportunities are avail in the market opportunities. Sport industry is one of the growing
sector in the UK. People become more aware about the sports and fitness and stress
management (Harrigan and Hulbert, 2011). It provides a golden opportunity for
companywhich help to provide consistent growth and development in the market. On the
other hand, there large number of sport supplier exist in the market which provide tou8gh
completion for the company. there are also emerging online sport store which having
adverse impact on the future performance of The Sport Emporium.
 Competitors analyses
It is essential for a business organization to evaluate their competitors in an effective
manner so that they can achieve short and long term goals. According to the given case
study, Steve banks can use Porter’s five force approach to examine competitors in the
market.
Competitive rivalry There are various small and large sports manufacture
who provide tough competition for the cited firm.
Growing online business also increase competition
level which reducing market opportunities.
Suppliers power There are various suppliers which provide different
sports equipment to the company. as per the case
there are large number of suppliers for the company.
Buyers power Consumer income is growing which is a good symbol
for The Sport Emporium. But due to large number of
player it leads to increase
Threat of substitution Innovation and technology create a serious issue for
sport industry. Due to increasing trends of gadgets
and electronic games which having adverse impact on
sport market (Hiebing, Cooper and Wehrenberg,
2012).
Threat of new entry It is easy to enter by the small business can easily
enter in such industry which leads to increase
competition level.

 Strength and weakness of venture
This is the responsibility of Steve Banks to analyses their strength and weakness so that
they can sue market opportunities in an effective manner. These are:
Strength The Sport Emporium is providing high quality goods to their
customers.
The pricing of their products is quite law as compare to other
suppliers which provide competitive advantage in the market.
Weakness The location of their business is too far from the city which one of
the major issue.
Lack of money is another key issue in promoting products in an
effective manner.
With the help of above analyses company required to overcome these weaknesses for the near
future.
Marketing Objectives and goals
It is important for the company to design their marketing objectives and goals. These target
must be realistic and time bound so that Steve Banks can attain their aims in an effective
manner (Jensen, 2013). According to the given case study the major target is to increase
market share and sales. These objectives are:
Objectives Action plan Time frame Outcomes
Target To create market for
sports equipment at
proposed location.
In the next few
months
To increase sales by
15 percent
Target Develop customer
relationship
During first year To increase
customer loyalty
Target Increase web
presence
In the next quarter To increase sales
through online portal
Marketing strategy and action plan
This is one of the critical and complex marketing plan where cited company needs to develop
an effective marketing plan. Steve Banks required to analyses overall plan and select most
appropriate marketing strategy. The marketing mix strategy can be used by them:
Product: This is one of the key element in marketing mix where a company try to
differentiate their product to others on the basis of quality, design, services, technology etc. In

the context of given case, The Sport Emporium can provide high quality or product to their
customers (Mamula, 2012). There is various professional player also available where they
can provide customized sports equipment to them. It helps to gaining competitive advantage
in the market. apart from that they can also provide repair and maintenance services for sport
hardware can help to build market in an effective manner.
Price: This is another mix which is related with the pricing strategy. There are pricing
approaches can be used by cited business entity. The Sport Emporium can offer their product
at discount pricing to its loyal customers. For a small business entity is not possible to sell
their product at lower cost needs to identity those suppliers who provide such product. In the
context, Steve Banks can import sport equipment from other countries where cost is to law.
Apart from that, they also use premium pricing for their customized product. The main aim of
this tactics is to increase revenue and sales in an effective manner.
Place: This marketing element is related with the distribution centre of the company. The
Sport Emporium new place is appropriate for the business organization. because there are
large number of potential customer available.
Promotion: There are various promotional activities which can be used by the company. The
main aim of promotional activates is to create awareness about product and services in the
market. there are various tool and methods can be used by the company. it can involve print
media, electronic media and social media. For example, social media such as Facebook,
Instagram, You Tube etc. in order to promote their products and services in a cost effective
manner (Morrison, 2010). apart from that they can also use advertisement which help to
create awareness about sport equipment.
Apart from that, there are also other marking strategy which can be used by the company in
order to increase sales and profitability in an effective manner. These are:
Start online business: Today, the role of online business is to significant specially for a small
enterprise. It helps to sale firm’s product without large investment in the market and provide
long term growth in an appropriate manner. According to the case of Sport Emporium, they
need to start a website and provide their product information online such as product quality,
price, warranty and after sale services. With the help of such strategy, company can reach
large number of customers at the same time and achieve their sales target.
Action plan for proposed marketing strategy:

It is essential for a business organization to develop an action plan for their marketing
strategy in order to achieving long term goals and objectives in an effective manner. as per
the given case study, Steve Banks needs an appropriate action plan which is mentioned
below:
Marketing research: This is the most significant stage in marketing plan where a company
required to identity customer needs and make their product accordingly. Marketing research
helps to examine market and provide long term growth to the business. there are two major
approaches can be used by them. In the context of The Sport Emporium, they need to collect
primary data among potential customer. it provides relevant information regarding sport and
fitness related product and maintenance for their customers.
Developing stage: In this approach company required that to use cost effective tactics in
promotional aspects. For example, Steve Banks can use low cost advertising tool for
promoting their products and services, because use of electronic media is costlier than print
media. Apart from that, they can also sponsor to basketball and badminton team at the initial
level.
Create marketing calendar: Once marketing strategies has been developed, the next stage
comes in to the picture. At this stage the business owner is responsible to design marketing
calendar with time limitation.
Measure result: This is final stage where the marketing manager evaluate marketing result
with projected target. It is one of the complex and competitive step which helps to know
about the effectiveness of marketing plan. Finally, they make decisions on the basis of their
target which helps to improve in the near future.
Budget
The owner of Sports Emporium is required that to make an appropriate marketing budget in
order to promote their products and services in an effective manner. marketing budget is
statement of estimated cost of their overall marketing plan and different activities. There are
various cost involves in a marketing budget such as advertising cist, public relation cost, and
promotion cost. There is a marketing budget mentioned below for next five years for the cited
firm. The overall cost of the project 7922 Pound which divided in to four major part.
Marketing budget for 2017 (£)
Particulars August September October November December

Advertising
Newspapers
Direct
mailing
Bus slides
Others
250
120
50
70
230
100
30
40
220
120
40
30
260
110
70
20
282
100
40
30
Public
relation
Sponsorship
Charity
Others
1000
250
120
500
200
100
300
250
50
1000
150
60
690
150
40
Promotion 200 150 150 200 150
Total 2060 1350 1160 1870 1482
Control and timescale
This is one of the major task for marketing plan in which Steve Banks need to monitor
overall plan (Baker and Baker, 2010). With the help of monitoring and controlling activities
marketing manager can identity loopholes and improve in an effective manner. There are
following time scale is given for their marketing plan.
Stages Time duration
Goal setting 2 weeks
Marketing objectives 3 weeks
Marketing Audit 2 weeks
SWOT analyse 1 weeks
Developing marketing
strategies
3 weeks
Control and Evaluation 2 weeks

Figure 1Gantt Chart
Gantt chart one of the most appropriate tool for proposed marketing plan where a company
can divide overall plan in to small task with time limit. The main aim of Gantt chart is to
control overall cost and complete marketing plan within in a time frame. As per the given
case, the first stage starts from goal setting to control and evaluation.
Conclusion
The above mentioned report has been concluded that marketing plan plays a significant role
in the success for each and every business, the report is discussed about the situation
analyses, company profile, competitor analyses etc. The strength, weakness of The Sport
Emporium and market opportunities in the sports industry. The report also explained about
the marketing budget for the company which is too essential for attaining mission and vision
in an effective manner.

References.
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Harrigan, P. and Hulbert, B., 2011. How Can Marketing Academics Serve Marketing
Practice? The New Marketing DNA as a Model for Marketing Education. Journal of
Marketing Education, 33(3), pp.253-272.
Hiebing, R., Cooper, S. and Wehrenberg, S., 2012. The successful marketing plan. 1st ed.
New York: McGraw-Hill.
Jensen, D., 2013. Your Personal Marketing Plan. Science.
Mamula, T., 2012. Role of marketing metrics in strategic brand management. Marketing,
43(1), pp.49-61.
Morrison, A., 2010. Hospitality and travel marketing. 1st ed. Clifton Park, NY: Delmar
Cengage Learning.
Stosic, I., 2014. The role of marketing in corporate restructuring in crisis period. Marketing,
45(1), pp.41-49.
The 20 Ps of marketing: a complete guide to marketing strategy., 2014. Choice Reviews
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Vaňa, K. and Černá, Ľ., 2012. The Marketing Audit as a Method of the Evaluation of the
Marketing Plan. Research Papers Faculty of Materials Science and Technology Slovak
University of Technology, 20(Special Number).