Summary
Machine is a retailing company based in Florida that deals with athletic apparels. It has a wide array of products in its line which it plans to expand even further after kick off. The main aim of the company is to provide high-quality sports gear at very compelling prices. Its primary targets are teens, young adults, and professional athletes. By understanding what people look for in sporting apparel, Machine is looking forward to creating unique designs that its clientele finds appealing. The sporting apparel industry has shown tremendous growth over the years as more people lean toward healthy lifestyles, this has therefore increased the size of the market globally. Machine’s marketing strategy involves using online and offline platforms to reach most of its potential clientele. Machine also seeks to expand its products after kick off, therefore, providing a one-stop shop point for its customers.
Company and Product
Machine is an athletic apparel startup based in Florida dealing with men’s and women’s sporting clothing. With most retailers being sport specific, Machine aims at providing a wide range of sports gear with the premise that many athletic individuals participate in more than one type of activity. The sports gear range from cycling, skiing, and snowshoeing to regular gym apparels for health and fitness enthusiasts. The list of products to be sold includes shorts, briefs, tights, shirts (long& short sleeved), vests, sports bras, water repellant shells, assorted fleece wear, gloves, and socks. Machine’s main aim is to provide high-quality, unique athletic apparel at very considerable prices.
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Description
With an increase of lifestyle disorders and work-related stress, many people are becoming fitness-conscious so as to promote their health and well-being. This has led to a growing demand for comfortable, trendy, and fashionable sports apparel. Machine aims at integrating unique designs to its products that its consumer demographic finds appealing. It also understands that the right athletic apparel can make a huge difference in a workout. The main component for all its garments is “no cotton”; this is because of the ability of cotton to absorb and hold water, therefore, making apparels lose their isolating characteristics. Also, friction increases when garments are wet, and this leads to the occurrence of blisters. The company is looking into expanding its line of products to include sporting accessories after launching operations. The firm intends to offer its services and products through online and retail stores to cater to a vast number of people.
Industry
The global sports apparel industry has experienced significant growth and changes over the years. This could be attributed to the growing health awareness and an increase in fitness activities. Globally, the industry is expected to garner $184.6 billion by 2020 (Apparel Resources, 2017) . The primary key players in the sector include Nike Inc., Adidas, Lululemon Athletica Incorporation, Ralph Lauren Corporation among many more. The sports industry is highly fragmented due to the wide number of sports played globally. This has therefore increased the growth and popularity of sports apparel. With big events such as the FIFA World Cup and Olympics continually supporting different sports gear, they have helped boost the apparel market even more. North America leads in the global sports equipment and apparel closely followed by Europe and the Asia-pacific region.
Customer
With the athletic apparel industry soaring, Machine has identified its target customers, and this includes teens, young adults, and professional athletes. According to Lutz (2015), 28% of activewear purchases are from teens compared to the 8% that was recorded in 2008; most teens look at active wear not only as a truly personal style but as a high-end statement of wealth that signals an active lifestyle (Bailis, 2016) . Most young adults are committed to improving their lifestyles and staying healthy. The potential of the young women segment to expand is very high as more women are getting into sporting and fitness activities. Machine understand the benefits of partnering with professional athletes who have the ability to not only showcase their products to a large number of people but also pull consumers to the brand.
Competitor Analysis
Machine will focus on obtaining its customers' trust through the provision of quality products, therefore, establishing long-lasting relationships. The company will purchase all its products from the original suppliers to gain a competitive edge over other firms that sell counterfeits. Also, to broaden its product line, Machine is looking forward to adding a variety of new products after kick-off to open its markets even more. Most of the competitors are sports specific, therefore, deal with apparels for a particular sport. Machine plans to offer a variety of products for different sports, thus, allowing the store to be a one-stop shop point. Most companies are seemingly comfortable with offering sport-specific apparel, and this gives Machine a competitive advantage.
Marketing Plan Research
Machine’s marketing plan will take into account its targeted customers that are teens, young adults, and professional athletes. The company aims to market itself to these groups as the one-stop retail store for all different athlete apparels. Machine’s marketing plan includes offline and online advertisements. To reach the teens, the firm will venture into online marketing as most of them are active on social media platforms such as Facebook and Twitter. It also aims to put up advertisements in popular magazines and journals in Florida. The marketing plan also includes increasing visibility of the firm’s products through sponsoring events ad partnership with some professional athletes. When these athletes participate in competitions, they will be able to increase the visibility y of Machine’s apparels to the public
Primary and Secondary Research
The increase in the number of specialty sports apparel stores has become one of the reasons why Machine believes that its strategy will be successful. Florida is a very active state that boasts of numerous beaches and theme parks. This means that it attracts a lot of tourists, who are also part of the sports apparel market. People globally seek comfortable, quality sporting apparel. Machine, therefore, aims to have a multifaceted strategy offering different facet for each of its market segments. According to Allied Market Research (2018), the global sports equipment and apparel market was valued at $384,562 million in 2016 and is expected to grow even further by 2023. In order to collect information on its target customers, Machine will include salespersons in its marketing strategy who will be concerned with not only acquiring feedback but issuing knowledge/ expertise to new customers look for the most suitable athletic apparel.
Conclusion
With a clear business plan, Machine is not afraid of venturing into the vast sporting apparel industry in Florida. The marketing plan and strategies have a high potential of boosting its popularity and increasing the revenue. With the provision of high quality, unique products at standard costs Machine globally has the potential of being the leading sports apparel retailer in Florida.
References
Allied Market Research. (2018, May 24). Global Sports Equipment and Apparel Market Expected to Reach $619,279 Million by 2023, Says Allied Market Research. Retrieved January 30, 2019, from https://www.prnewswire.com/news-releases/global-sports-equipment-and-apparel-market-expected-to-reach-619279-million-by-2023-says-allied-market-research-683561041.html
Apparel Resources. (2017, December 16). Sportswear brands go all out to target women consumers globally | Apparel Resources. Retrieved January 30, 2019, from https://apparelresources.com/business-news/retail/women-customers-bring-x-factor-sportswear-market/
Bailis, R. (2016, November 18). Why Millennials Love Activewear- The Numbers Behind The Massive Growth | Hitwise. Retrieved January 30, 2019, from https://www.hitwise.com/en/articles/millennials-love-activewear/
Lutz, A. (2015, March 5). Athletic wear companies are going after these 3 types of people. Retrieved January 30, 2019, from https://www.businessinsider.com/athletic-apparel-companies-customers-2015-3?IR=T
