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Wake-Up Boarding Dome

Wake-Up Boarding Dome. Group Marketing Plan Brett Jolley Gabriela Garcia Todd Fichter Cindy Spangler. Wake-Up Boarding Dome. Description of the company Company’s environment Research findings Marketing objectives Target Market Product strategy Distribution strategy Promotion strategy

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Wake-Up Boarding Dome

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  1. Wake-Up Boarding Dome Group Marketing Plan Brett Jolley Gabriela Garcia Todd Fichter Cindy Spangler

  2. Wake-Up Boarding Dome • Description of the company • Company’s environment • Research findings • Marketing objectives • Target Market • Product strategy • Distribution strategy • Promotion strategy • Pricing strategy • Implementation and evaluation plans

  3. Description of Wake-Up Boarding Dome Wake-Up Boarding dome provides indoor cable-wakeboarding service to the Wasatch front. • What is cable-wakeboarding? • http://www.cable-ski.com/ The company is unique to this area for these reasons: • It is the only cable-wakeboarding facility in the west • It is the only indoor cable-wakeboarding facility in the world • It provides access to wakeboarding year round in any weather condition

  4. Company Description Mission • The mission of Wake-up Boarding Dome is to provide high quality, year round, indoor cable-wakeboarding services that will be able to meet the growing popularity of wakeboarding in the Wasatch front area. Along with providing the best possible service, we will help novice to professional wakeboarders achieve their goals. 5-Year Goals • To become a name synonymous with wakeboarding in Utah. • To expand enough to meet the rising demand. • To become a Destination on the U.S. Cable Wakeboarding Tour.

  5. Environment Social Factors • Movement toward an active lifestyle • Health risks Economic • Costs • Buying a boat • Towing a boat

  6. Environment Technology • This service is dependant on technology • Downtime • Turnover Competition • Direct competition? • Indirect competition • Lakes • Other sports

  7. Environment Natural Environment • Weather • Pollution

  8. Research • In our research we had positive feedback and discovered that our perfect target market would be Caucasian males ages 15 through 26 years old • Perfect area to build an indoor wakeboarding facility would be in Salt Lake City • Discovered that several people have not tried wakeboarding

  9. Research • Most people have not tried wakeboarding because they have no access to a boat or equipment • Our company could benefit from this we could have a lot of potential customers • Most people are willing to try wakeboarding if they were given an opportunity

  10. Research • 89% of people surveyed would consider participating in water sports during the winter if it was in an indoor facility • 74% of people surveyed would be willing to wakeboard year around • 40% of people surveyed had an annual income between $15,000-$19,999

  11. Research: Results From the Survey 3. Would you consider participating in water sports during the winter if it was an indoor facility.

  12. Research: Results From the Survey 9. Would you be willing to wakeboard year around? *4 didn’t answer the question

  13. Research: Results From the Survey 11. What is your estimated annual income?

  14. Marketing Objectives • Our company would like to take advantage of being the only indoor wakeboarding facility in the world • We want to be a world wide known destination for extreme wakeboarders • We want to increase sales by 15% using alternative rock radio stations as an advertising medium within one year of opening • Expand the cable tow to include five more tows within two years of opening

  15. Target Market • Target audience is Caucasian males from the ages of 15 to 26 that live and work along the Wasatch Front • Most individuals attend high school or college full-time and work part-time • Younger target market ages, 15-18, will be dependent on their parent’s income • Older target market, 18-26, will have an income of $10,000 to $30,000

  16. Product Strategy Segmentation Variables • Geographic • Demographic • Socioeconomic • Psychographic

  17. Distribution strategy • The channel of distribution for Wake-Up Boarding Dome is direct distribution • Direct distribution is the most efficient channel of distribution because Wake-Up Boarding Dome provides an intangible service to its customers, with no intermediaries

  18. Promotion Strategy • The main purpose of the promotion strategy is to inform potential customers about the service that Wake-Up Boarding Dome provides

  19. Promotion • The following methods will be used to promote and advertise Wake-Up Boarding Dome • Media advertising • Local newspapers • Internet webpage • Radio • Alternative Rock Stations in Salt Lake County • Personal Selling • Sales people representing the Dome will go to local high schools to promote indoor wakeboarding with the younger target audience

  20. Promotion • Non-personal communication • Competitions • Free passes and discounted trials • Public relations • Community Service • Sponsor events

  21. Promotion • Radio Advertising Campaign to be played on X96, KBER 101.1 FM and other alternative rock radio stations • Is winter giving you the wakeboarding blues? Wake-Up Boarding Dome has just the solution. Get your ass out of the cold and behind our boatless wakeboarding cables! Join pro wakeboarders Darin Shapiro and Parks Bonifay for our grand opening demo Friday, December 3rd. Free to the public. Demo starts at 6 p.m. Get here early to win free stuff. Wake-Up Boarding Dome is located south of I-80 off of 5600 West. Call 801-566-9235 for more information or visit www.wakeupboarding.com

  22. Pricing Strategy • Wake-Up Boarding Dome’s pricing strategy will be profit maximization and skim pricing in order to recover the high startup costs • The Dome is able to do this because of its inelastic demand- no other activity like indoor wakeboarding

  23. Pricing • Approximate idea of what the prices will be: • 1 hour $15 • Half day $40 • Full day $50 • Weekend prices will be $10 more • 10% discount for groups 10 or more • Winter pricing will vary according to demand

  24. Implementation • Who is our target market? • Caucasian males 15-26 • Live along the Wasatch Front • Prior experience wakeboarding • How do we reach them? • Publicity • Promotions • Media advertising

  25. Implementation How do we maximize profit? • Covering our fixed and variable costs • Pricing strategy • Skimming • Elastic • Prices • 1 hour $15 • Half day $40 • Full day $50 • Weekend prices will be $10 more • 10% discount for groups of 10 or more • Winter pricing will vary according to demand

  26. Evaluation How do we judge success? • Profit Maximization • Are we maximizing profits while meeting our costs? • Satisfying Exchanges • Superiority • Non-Financial and Financial Goals • Five-year plan • Marketing Objectives • Two-year plan

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