Pestle Analysis Of Mountain Bike

Improved Essays
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

Related Documents

  • Improved Essays

    Quartiles are a procedure of diagnosing the way values are utilized to part an arrangement of numbers into four equivalent gatherings. You initiate by putting the numbers in numerical request after that separation them down the middle utilizing the middle. On the left part of the middle the numbers ought to be isolated over once more, towards the privilege of the middle a third division is required, your information should now be separated into four gatherings. These three markers you have made are really quartiles. Despite the fact that they have been isolated into four separate gatherings, this is finished with three quartiles.…

    • 532 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    Introducing a new product to existing inventory or starting a brand new business requires planning. It is imperative that a product analysis is conducted in order to determine the extent of consumer demand as well as identifying the target market. Ultimately consumers within a free market will regulate the price of the product, it is still essential for a business owner to create a strategic plan in order to determine product performance and consumer appeal given a certain price point. A business analysis of a new product will help estimate your product price, identify market potential, forecast sales volume, identify the break-even point, consider the long term plan, and help determine product placement as well as ideal locations (Tanner, Jr. & Raymond, 2012). This essay will evaluate the Ninja Coffee Bar in regards to increasing consumer sales.…

    • 774 Words
    • 4 Pages
    Improved Essays
  • Decent Essays

    Yti Executive Summary

    • 444 Words
    • 2 Pages

    The current customers enjoy a premium product that performs phenomenally and will last a lifetime. Some of the current customers are loyal to the brand itself and because of its established reputation keeps them coming back. The potential customers are those people who are interested in the quality product but have not made the commitment to the higher price. We plan to target the people who are constantly on the move but not limited to the outdoorsmen. This could be mobile businessmen, busy mothers, active teens, and anyone else who may be juggling multiple tasks on a day to day basis.…

    • 444 Words
    • 2 Pages
    Decent Essays
  • Improved Essays

    Unit 9 Pestle Analysis

    • 521 Words
    • 3 Pages

    Getting Tarmac Driveways in Derby with the Help of Experts Erewash Driveways & Paving is a family run business based in Ilkeston, Derbyshire specialising in tarmac driveways in the Derby and Nottingham area. Hiring our driveway company in Derby is going to be one of best decisions you can make for your home because we have a combined 25 years experience in making driveways and pavings. We have provided top quality services for hundreds of satisfied customers and they can vouch for our high-quality output and professional services. Some of the top quality services we provide for tarmac driveways in Derby are: Choice of Red and black tarmac to suit your desired finish Tarmac pathways, car parks, driveways, patios Resurfacing of existing worn…

    • 521 Words
    • 3 Pages
    Improved Essays
  • Improved Essays

    In today’s business world there are both extremely large companies as well as smaller, local companies. Although these companies vary in their operations, they have one major thing in common they must implement in order to become and remain successful in their markets. This common bond is an effective marketing strategy. Today American’s consume over 200 million barrels of beer in a single year (Reid, McLaughlin, & Moore, 2014). As of June 2013, there were over 2483 craft breweries in the United States alone.…

    • 499 Words
    • 2 Pages
    Improved Essays
  • Improved Essays

    Case Study: URB-E

    • 565 Words
    • 3 Pages

    Thank you for the opportunity to interview yesterday. Speaking with you helped me understand the dedication that you and the team has for creating products such as URB-E which serve those in urban communities. So far, I think that URB-E has been doing a fantastic job engaging in sales and marketing campaigns that fit with the ideal clientele. Being able to intern at Urban626 will allow me to blossom and implement both my passion for sales and marketing and innovative mind-set. Initially, I would focus on marketing campaigns that are short and straight to the point, and relays a message about Urban626's values and the problems that it solves for society.…

    • 565 Words
    • 3 Pages
    Improved Essays
  • Decent Essays

    Christian Louboutins

    • 552 Words
    • 3 Pages

    Briefly indicate what marketing concepts or text materials explain the outcome, and state your own opinion on these issues Christian Louboutins has been successful in its fashion business since its inception. The brand has attracted customers from all over the world. The management understands that a good marketing strategy is key factor that determines the success of a business. The company has also defined its target market very well and have been able to maintain quality products that mach the desires of its customers. The following are some of the strategies the company has incorporated in its marketing strategy.…

    • 552 Words
    • 3 Pages
    Decent Essays
  • Improved Essays

    Vernon Jaguar Case Study

    • 861 Words
    • 4 Pages

    Vernon Motorsports opened in 2002, it is a locally owned and operated business located in the northern section of Vernon within the auto mile. This is a retail business that sells new and used motorcycles, all-terrain and utility vehicles, personal watercrafts, snowmobiles and outboards (Vernon Motorsports, 2015). They also have a full-service department that can take care of any and all needs their customers machines may need, as well as all the accessories and clothing to go along with it. Over two years ago the business was purchased and the new owners pride themselves on customer service offering free pick-up and delivery services and a shuttle within Greater Vernon. Vernon Motorsports employs ten great staff to help you with all aspects of their business (Vernon Motorsports, 2015).…

    • 861 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    Gaurav Dev Sharma PGFB1611 . Case: SELCO 2009: Determining a Path Forward ( RM Case Assignment) Question 1 .In 2009, SELCO was looking at several options for expanding its operations (i.e. geographical expansion, serving poorer segments of the population,…

    • 1334 Words
    • 6 Pages
    Great Essays
  • Superior Essays

    Lifestyle images is the most powerful attribute as it influences consumers to buy into the image rather than the functional attributes of the motorcycle (Armstrong, G., Kotler, P., 2009) . It gives Thorr Motorcycle's a national identity and allows a subculture to be created. Lifestyle image helps evoke emotional connections between customers and their desires for the specified market. Quality Engineering A motorcycle can not maintain a high image without quality engineering as it covers almost every aspect of the product. Quality engineering ranks high among Thorr customers.…

    • 1376 Words
    • 6 Pages
    Superior Essays
  • Improved Essays

    In this marketing simulation game as a group, we experience success and failures through trials and tribulations learning how to compete in technology world bringing quality products to customers across the world. We had to study the market from our competitors to know how to adapt to the market and also how to reach customer needs and wants. We researched the marketing field to make a decision on what the initial market segment we wanted to target in. In which we collectively chose our target sections to get involve in because it represented the common businessman technology that has a high value of quality at an affordable rate. Next started to open sales offices where we believe our products will thrive in the markets to increase our popularity…

    • 764 Words
    • 4 Pages
    Improved Essays
  • Great Essays

    Bp Pestle Analysis Essay

    • 1608 Words
    • 7 Pages

    PESTLE analysis of British Petroleum in USA PESTLE analysis consists of six different elements that may help the business improve the certain areas. These are Political, Economic, Social, Technological, Legal and Environmental. The business would analyze each factor individually to find out what they need to do to become efficient and a well-rounded company. British Petroleum (BP) is a multinational oil company that operates in over 70 countries worldwide with 79,800 employees it has become well known company that has generated over $225bn for the economy. This essay will consist the PESTLE analysis of the company operating in USA and the effects that the oil spillage in the Gulf of Mexico in 2010 did to the company’s policies.…

    • 1608 Words
    • 7 Pages
    Great Essays
  • Superior Essays

    Purple Cow Case Study

    • 1085 Words
    • 5 Pages

    The Problem with the Cow Being a purple cow is difficult. There will always be criticism from many people when someone tries to be remarkably different and become a purple cow. There are two options: either be boring, indifferent and play it safe or try your luck at greatness, uniqueness and become the cow. There are always risks involved in being different and many fear failure, but the ones who try and succeed archive greatness. From a business perspective remember if you have a distinctive proposition which others fear to adopt, that proposition might be your purple cow.…

    • 1085 Words
    • 5 Pages
    Superior Essays
  • Decent Essays

    Question 2 SWOT Analysis SWOT analysis aims to identify the internal strengths and weaknesses involved an organization and the firm’s capability and resources to deal with changes. Besides, it is useful in assisting risk management by analyzing the opportunities and threats arising from external business environment. It is useful to assist the firm in providing specific insights that can be used to develop the appropriate marketing strategy by summarizing the key favorable and unfavorable issues from the business environment (Wheelen & Hunger 2002, p. 109). 2.1 Strengths In term of the beverages and diaries business, F&N has gained itself a strong and reputable brand name over the years with various brand awards (Awards 2014).…

    • 749 Words
    • 3 Pages
    Decent Essays
  • Great Essays

    Case Study Burger Paints

    • 2018 Words
    • 9 Pages

    Muhammad Bilal Reg # 1625149 MBA-36 Section D Case study on Burger Paints Submitted to: Sir Ferhan Syed Burger Paints Berger has now become one of the largest paint manufacturers in Pakistan. In 1950, it started its operation in Pakistan, importing premium products from UK and established image as the first organized paint Company. In 1974, Burger Paints Pakistan Limited became a public limited company. They entered into the technical collaborations with leading manufacturers like Japan which allow them to paint on automotive, Malaysia for road coats, UK for powder coverings, for bumper paints Japanese company. First local manufacturing facility was established in Karachi in 1955.In 2006 state of the art manufacturing facility was built…

    • 2018 Words
    • 9 Pages
    Great Essays