Marketing strategies are built based on what one wants to achieve with the brand. An efficient marketing strategy exists for selling the brand. The marketing strategy is one that must be specific to the target audience. Without a strategy, the pitch cannot be sold to the investors as it does not show what the people are originally striving to achieve. It is the basis for defining the success strategy. The marketing objectives for the brand are,Aims at promoting and converting at least 50 percent of the existing Sydney population to using bicycles at least once a month.To acquire more than 70 percent of the market segment in existing bicycle users for using the facilities and services of Giken Ltd. Given the marketing objectives, some assessments must be done before planning strategy. Some of the potential elements addressed in the case of the marketing strategy are as follows.
The brand needs not reposition its stance. The brand is unique to the market already, so it provides competitive difference in the market. It will however have to research into the form of pricing that is presented by other competitors.
The brand needs to seize the same target group, as that of the bicycle users in Sydney who make use of the parking facilities. However, in doing so, the brand must first start enticing specific segments. The first segments to be enticed or marketed to, are those users who use their bicycles once a day or at the least 5 times a week. These are the customers who need the parking space the most. It is an inevitable daily need for the customers. The second segment of customers is the ones who use a bicycle one or more times a week and use it recreationally. They need a parking space but their needs are not that great as the first primary segment. Brand strategies must be formulated for both the first primary segment and the second target segment.
At present for the intended strategy to be presented next, the resources needed are manpower, capital, and marketing knowledge.
For a long-term success rate to be present along with strategies, it is critical to have a feedback system connected to the marketing strategy. The presence of the feedback system will be helpful for addressing futuristic issues.