that are no more than five years old
Athletics Supreme has been in business for almost10 year. They specialize in selling a variety of athletic equipment. They have noticed that there is a growing interest in sportswear and would seeking to expand their products to include a sports line and other sport related items. Their goal is to provide their customers with the ultimate sports shopping experience while maintaining their brand and profits.
Athletics Supreme reputation has been built on providing quality equipment, customer service dedicated to the amateur sports participant. Their equipment is designed with quality and the utmost safety in mind. Even though these athletes are amateur in status, the equipment is made to make them feel like a professional. Athletics Supreme is now expanding their target market to kid and teen athletes.
The company in now implementing several safety changes for the young athlete, including a 7 point padded shirt and replaceable helmet padding designed to help reduce concussions. It is important to Athletics Supreme to create a safe and comfortable line of sports gear that targets athletes of all ages and sizes.
The sportswear market is a growing and competitive, Athletic Supreme is aware that their competition is finding new innovative ways to stay ahead of the game. These companies have the potential to reach department store. The company is in serious consideration of marketing to department’s stores, but they are concerned about losing the integrity of their brand.
Market Research Strategies
The company needs to get an understanding of which brands are selling specific types of clothing and what offerings these companies supply. Athletics Supreme is looking to explore demographics for sportswear needs, and what other companies may be overlooking. In order to achieve this, the company will need to preform qualitative research of the market.
Gaining access to sales and competitor data will be instrumental in conducting research. The company will need to identify further which competitor has taken the lead in sportswear. Using the qualitative research will help give insight into the market potential, in addition to what customers are looking for and purchasing.
The companies should identify with its consumers needs and wants. Searching social media and sites that allow customer comments on products that have been purchased. This can be an informative tool for the company to understand how their product is being received.
Analyzing Macro-environment-PEST Analysis
There are many people in some demographics that are struggling with income and disposable income. The Presidential elections next year gives hope to a better economical outlook. However, it will take some time for changes to take place and for the economy to rebound. The sports industry continues to demand improvements on sports equipment, due to the continuous injuries and lawsuits over these injuries. Social networking today can give people immediate answers to issues that may or may not be correct and political and legal actions can quickly follow. There is a wealth of information available to make an informative decision on the materials used to make the product safe and in conditions that are legal and honorable. Ensuring that legal requirements are met, when making sportswear will diminish the potential for legal ramifications.
The economic recovery is continuing to improve and new resources are becoming available. Depending on the geographies, labor costs can be expensive, so the company must take that into consideration when choosing where to set up production. The profit potential must be carefully weighed against the local economy.
Facebook, Instagram, Twitter and other social media sites, all give the most instant and up to date information. This is why it is so imperative that company’s partner with social media to advertise. Companies must take great consideration to create products that are user friendly and meet the demands of individuals; the company will want to find partners that have the same core values.
Technology continues to evolve at a rapid rate. Communication and information technology will continue to be at the forefront of updated information, which in turn will provide information on new materials, fabrics and formulas to improve sports equipment.
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