Jay's Sporting Goods research paper Essay Example | Topics and Well Written Essays - 1250 words

Jay's Sporting Goods research paper - Essay Example Jay’s Sporting Goods is compared with the competitors from every possible aspect. Thus after considering the marked differences in the marketing strategy of all three of them we finally reached the SOV that is Share of Voice. After going through some of the survey data available the market condition is judged in terms of demand for any particular product or liking towards any particular game. The study was also done to see whether any segment is untapped or not. SWOT analysis was done to understand the company’s position more properly. Based on the findings, recommendations are made. The company’s market objective is outlined and the marketing strategy is planned. The plan includes type of promotions required by the company, target segment of the company, how can they be reached, the medium that can be used to reach them. To understand the medium again the survey data were referred to understand the most popular mode of advertisement. SITUATION ANALYSIS Marketing strategy and objective The marketing objective of a company can be achieved only by planning the marketing strategies in a correct manner. To outline the marketing strategy for Jay’s Sporting Goods understanding of the 4P’s of Marketing that is Product, Price, Promotion and Place for Jay’s is very essential. ... Pricing Jay’s Sporting Goods has a wide variety of product from different brands whose prices also differ. Since they have tie ups with many brands so the prices range is huge. One can get any item at cheaper price as well as at high price too (Jay’s Sporting Goods). Place Jay’s Sporting Goods is an online and outdoor superstore with two locations in Michigan. It’s a 41 years old business who started their operations in 1971 with 78,000 square ft building in Clare and a 40,000 Square ft building in Gaylord. So customers can visit them not only in their superstores but also online through their websites (Jay’s Sporting Goods). Promotion The various promotional strategies have been adopted by the Company. They offer discounts of certain percentage on certain products. They have also organized some seminars inviting some renowned personalities who are into the world of adventures. They have several outdoor partners, which are mainly different shows tel ecasted in television and radios. The company Jay’s Sporting Goods also has a product named Gift card which provides you opportunity for not only online shopping but also shopping at their store (Jay’s Sporting Goods). Thus we have thrown a light on the existing marketing strategy from where we can plan our future marketing and promotional strategies which will lead to the growth of the company. SWOT analysis of the company Strength The company deals in a wide variety of products both for men and women. So the company is not gender biased which opens up a huge market for them. The company has gone for an online store where one can buy any item right from their home, at a single click on the mouse. "Give the customer what they need and give them the best service possible" is the philosophy of

Buzz Marketing Essay Example | Topics and Well Written Essays - 1000 words

Buzz Marketing - Essay Example Yes, it will seem unfamiliar. Yes, you will be criticized. And yes, it will work†. (Hughes 2005, Chapter 2) Using word of mouth for promoting goods and services is an old tool, yet traditional marketing has only started using it since the audience became sceptical towards â€Å"traditional† advertising. As Knermouch and Green (2001, np) have it: â€Å"†¦the art of generating word-of-mouth has grown far more sophisticated since the early days of simple publicity stunts. Marketers are learning to turn their brands into carefully guarded secrets that are revealed to a knowing few in each community, who in turn tell a few more, who tell a few more, and so on. Rather than blitzing the airways with 30-second TV commercials for its new Focus subcompact, Ford Motor Co. recruited just a handful of trendsetters in a few markets and gave them each a Focus to drive for six months. Their duties? Simply to be seen with the car and to hand out Focus-themed trinkets to anyone who expressed interest in it†. Traditional advertising has ceased to be a reliable source of information for many people, and therefore the good old world of mouth is becoming one of the most powerful tools for the modern marketing specialists for building and promoting brands. People tend to believe the recommendations of their close ones- their relatives and friends- when choosing a product, and therefore the word of mouth is an important marketing tool. On the other hand, word of mouth is the communication that is quite difficult to manage. It is only possible for the company to influence the launch of informational campaign and supplying additional information using the channels that are accessible by the target audience. It is next to impossible to forecast how people will interpret and change this information. (Hughes 2005) Because the choice of the initial information to be spread is an important and not an easy step, it should be paid considerable attention: the target audience, source