fixt bikes
DESCRIPTION
fiXt bikes. jenny yu | jessica churchill | nathan dixon | nicole rossi adv 123 | eckstone | october 18, 2010. definition. fixed gear - bicycle that has no free wheel [it cannot coast], the pedals are always in motion while the bicycle is moving wikipedia.com. original concept / idea. - PowerPoint PPT PresentationTRANSCRIPT
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fiXt bikes
jenny yu | jessica churchill | nathan dixon | nicole rossi
adv 123 | eckstone | october 18, 2010
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definition
fixed gear - bicycle that has no free wheel [it cannot coast], the pedals are always in motion while the bicycle is moving
wikipedia.com
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original concept / idea
a do-it-yourself bike customization online shop
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unique selling proposition
self expression
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geographic demographics
urban / [major] cities
college campuses
bars
west coast
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target demographics18-35 year olds
active
trendy [up to date on fashion]
non-commuters
live / work in town
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target market
d-i-y-er’s / urban / retro / hipsters [culture]
mildly athletic
has disposable income
young professionals who work in town
the “green” market
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general perception
out of 38 people surveyed:
favorable responses: 16/38 (42%)
neutral responses: 8/38 (21%)
unfavorable responses 14/38 (37%)
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general perception cont’dviewed as a trend / fad
strong love / hate trend
firm opinions on fixed gear bikes
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general opinions ( + )
ability to customize the bikes to their own personal style
unique
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general opinions ( - )
cost (when asked if $300-$600 was an okay price)
personal perceptions of people who partake in trend
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price survey
$300-$599
yes: 18%
no: 82%
*most fixed gear bikes are upwards of $400 - $1000
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results of the surveyvery few were interested in buying a fixed gear bike
those few had prior knowledge of fixed gear bikes
cited they would pay over $500 for a good one
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new concept/idea
selling interchangeable parts of the bike to keep the cost down
different colors/styles of : handlebars, seat covers, paint sets, rims, wheel covers, led lights
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types of advertising
definitely
respond
might respond
would check it if it was
more convenient
would ignore
tv (40) 2.5% (1) 50% (20)17.5% (7)
30% (12)
internet (38)
7.9% (3)57.9% (22)
5.3% (2)28.9% (11)
radio (38)
0.0% (0)13.2% (5)
7.9% (3)78.9% (30)
newspaper (39)
0.0% (0)15.4% (6)
15.4% (6)
69.2% (27)
magazine (39)
7.7% (3) 41% (16)23.1% (9)
28.2% (11)
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advertising response
television and internet are obvious media choices, followed by target specific magazines
radios and newspapers are primarily negative responses
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marketing plannational television commercial to expose the brand
mtv, vh1, spike, comedy central, [adult swim], fuse
internet advertising on d-i-y websites to pull in customers to online store
facebook, threadless, vans, pandora, grooveshark
target specific magazines
biking, shoes, apparel, music, tattoos
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environmental analysisit’s a west coast trend
focus on college campuses / bar scene
no physical stores - online only
can approach “green” audience - no pollution
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economic analysis
college students are poor
young professionals tend to have disposable income
selling individual parts will be cheaper [wholesale]
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social analysis
interested audience usually already own a fixed gear
trend may / may not take off in other cities [i.e. east coast]
“bike party” social events
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swot - strengths
serves target audience’s personal style
relatively low maintenance
people fall easily into trends
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swot - weakness
cost
people who are into this trend usually have one already
hard to ride
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swot - opportunities
can pull in more potential consumers, especially to areas that the trend is unknown
create a new market for low cost customized bikes
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swot - threats
people who already own a bike
no interest
no money
loyalty to a certain brand of bike
personal perception of fixed gear riders
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marketing/sales objectives
achieve a specific market share and recognition of brand
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basic advertising strategy(1) 30 second national commercial
online advertising on several sites
some advertising in urban d-i-y / apparel magazines
sponsor events [“bike party”]
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issues raised
further research - we need a more concentrated survey targeted toward people who already own a fixed gear bike, not just the target demographic
find out reasons behind owning a fixed gear