Bike Marketing Plan

836 Words 4 Pages
Since many more adults are looking for a bicycle to commute to work, rather than a car, a now small market for bikes shows an opportunity to develop a bike that will tailor to consumer’s needs. After going through the first five steps of the new product development process, it is time for testing. After establishing the idea to expand the market of bicycles to fulfill consumer’s needs, we took the next step in the product concept development and screening. Here the decision was made for a lightweight, easy-to-store bike with technology features such as safety and also the speed of a road bike and sturdiness of a mountain bike. Further on decisions were made for the marketing strategy development, thoughts were established on the business analysis, …show more content…
Test marketing the bike in one or more urban areas can come will some advantages as well as disadvantages and either way will help us indicate if taking on this product full force will be a good idea in the long run. Pulling the plug on a product is much too expensive and taking the time and energy to test market the product may eat up a lot of money now but will help us determine the future for the product. While it may be rather expensive, maybe even costing millions, doing this will help us view the products future. It is like test driving a car before you purchases. With disadvantages like money, comes advantages of seeing how a product will do on the market. Other disadvantages of bringing the product to a test market is that the competition can see the product and develop their own to bring to market before we may get the chance. Another advantage is we can improve and evaluate where the product is lacking. All in all, test marketing the product will bring pros and cons to the table, but that’s just it, were testing marketing, we didn’t put all our eggs in one basket and that can ultimately be a good …show more content…
If we are unable to attack the market when we go all in, the test marketing would have been a complete waste of time, money, and resources. Having the information on what is positive and negative about our product will get us the plan we need to take into action before we go full force with this product. Putting a product on the market when you know what is right and wrong with it and not fixing those factors will also hurt the company’s image. If the company show no interest in taking what the consumers thought about the product along with the issues and fixing them, it just shows were lazy and don’t care much for what the consumers of our products have to say. To be able to go national with this product, doing what we can with the information gathered during test marketing, we will be able to hit the ground running and cycling!
All in all, this test market is going to be a financial hit right out of the gate for this product, but it is something that must be done. In order to go national, generating information on how the product will do in the market is of major importance. Yes, we may encounter some pros and cons along the way, but that’s nothing that we can’t address before going to market with the new and improved bike. We want out product to be one that can compete with the rest, once they come to market, and there is nothing wrong with getting our name out there for consumers to

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