MARK1107 Principles And Practice Of Marketing

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MARK1107 Principles And Practice Of Marketing

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MARK1107 Principles And Practice Of Marketing

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Course Code: MARK1107
University: University Of Greenwich

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Country: United Kingdom

Question:

This assignment has been design to test your understanding of the following key areas:
Environmental analysis
Consumer behaviour
Segmentation, targeting and positioning
Finding, accessing, and using appropriate sources
Using Harvard Referencing in your work
Consider the UK market for “sports and outdoor equipment retailing” and the brands/products within it.  
Carry out a PESTEL analysis for this market
Refer to week 04’s lecture for guidance on how to carry out a good PESTEL
Apply a model or theory of consumer buyer behaviour to the purchase decision making process
We have covered some in lectures, or you can look to text books to find one
If it makes it easier for you, you can focus on one element of the market, but if you choose to do this, state that you are doing so
Identify and describe the different ways that this market is/could be segmented.
Note: the way the market IS segmented and how it COULD may be different
In all cases you must fully justify your comments with quality academic referencing.
NB – this market has been selected because there are free market reports available to you on Mintel.  Please use them in your answer!

Answer:

Introduction
Many operators in the sports and outdoor marketing in UK mainly deal with products geared towards outdoor activities. These products can be clothing, bicycles, fishing and camping equipment. Competition from some other retailers has also increased. These retailers include the non-specialists who are not very conversant with that particular field. Many of the goods stocked in here really improve customer’s confidence and makes them want more. This in turn leads to the growth of the market. In order to curb competition, the operators cut on the normal pricing of their goods and services. All in all, this market has led to revenue growth over the past years and increase in per capita income. This paper will focus on fishing, swimming, fitness, and bicycle and playground equipment.
This industry has excluded clothing and footwear manufacturing. There is much expectation from the industry and its revenue over time. The industry is much more sensitive to international trade which basically deals with exportation of goods. This helps in improving customer satisfaction and domestic demand. Swimming pools and playground equipment are targeted at taking 43.2% of the revenue from the industry. Products for the swimming pools which include paddling pools and basins will target both the outdoor and indoor purposes. Equipment for the playgrounds include swings, balls and see-saws. This equipment is quite expensive in terms of selling and manufacturing. This makes this segment of the market to be very high. The import competition is relatively low because of the size of the industrial commodities. The government encourages a healthy and active lifestyle and these add up to the growth of revenue over time. It also improves life expectancy in terms of fitness as people crave for healthy lifestyles. The expectations are that revenue will increase by 5.3%.
There are a many advantages that come along with sport manufacturing market. Some of them are that there is no monopoly in the industry. Every kind of operator has equal rights when it comes to offering goods and services (Fotiadis, Vassiliadis & Yeh, 2016, p. 261).  Goods are similar though differentiated in terms of sorting, grading, and branding and many other terms. There is the basis of product differentiation. Some of the insights that go hand in hand in promoting the success that this industry enjoys are based on;

Proper transport
Ability to venture in the niche markets

Ability to deal with prevailing market conditions (Garcia-Fernandez, et al, 2014, p. 176).
A niche is a special segment of a market that deals mainly with specific goods and offers specific services. If the sporting industry is able to access various niches in the market, definitely it will grow thus yielding more profits. Ability to deal with prevailing market conditions is another key factor in the growth of any industry (Fotiadis, Vassiliadis & Yeh, 2016, p. 117). This is because it will be able to handle factors arising from the conditions. It will also be able to employ all the available mechanisms.
As far as branding is concerned, the latter is going up due to the quality goods and services being offered.
 This marketing industry is expected to outgrow other similar industries in five years to come. That is from 2017-2022 totaling to a span of five years. Companies that have partnered include:

Lulu lemon
Argos

Amazon

Jed sports
Adidas
Nike

Wiggle

Political Analysis
Political environment should also be looked into. This will ensure that the government policies are adhered to the letter. Good relations with the government will yield greater benefits for the outdoor sports and retailing industry in the UK (McCarthy, et al., 2014. p.181.) When these factors are put into consideration, the industry will not only yield greater profit margin but expansion will be seen. These sporting activities include the Olympic Games, rugby world cups and many others. This is because most of the time the outdoor sporting market acts as the facilitator (Chanavat & Desbordes 2017, p.9). It may also write contracts with some organizations for a period of time, acting as the providers of the various sporting products.
Economic Analysis
It helps in growth and development in the markets. This has led to creation of job opportunities for many people in the United Kingdom. In the long run it leads to increased income for the government which is revenue. Job creation helps in stabilization of the economy since there is increase in per capita income. It also helps in eradicating poverty as everyone has something to do with his or her life (Fotiadis, Vassiliadis & Yeh, 2016, p. 217). The sporting market has really benefited from various sporting activities. Sporting activities improve the health of participants hence money that is used for treatment can be used in growth and development of the nation. The execution of mega sporting activities has also led to the development of infrastructure hence boosting economic development. In order to develop a strategic outdoor sport marketing plan, the industry needs to understand that it does not happen by accident. It cannot rely on guess work to be able to attain an effective marketing plan. The plan involves very careful analysis and assessment of the market (Macneill, & Jeannerat, 2016 p. 245). It has to understand the market development strategies and tactics. There is therefore need to have an overview of the market
Social Analysis
 Sport marketers should put into consideration the external environment of the industry. This will enable them to deal with the outside environment. Competition is another key factor that should be looked into. If the industry cannot handle competition, it will definitely fall. Therefore, there is a great need of analyzing competition (Shams, 2015, p. 199.)
 The industry should also have a mission or a vision. The latter is useful because it gives the directions of the industry pertaining its activities. It also provides the basis for making decisions for the wellbeing of the organization. The mission also helps in attracting the youths to the sporting world and the retailing industry at large (Sparks, 2018, p. 346). Culture of the industry is also vital as it provides the norms and the principles governing the industry. It gives guidelines to the employees on how they are supposed to handle their responsibilities. For example, a brand like Nike helps the employees to understand that they are supposed to explore potentiality when it comes to imagination and diversification (Lord, et al, 2016, p. 287). This enables them to work towards a common goal. The sporting industry should also take into account their resources. They must be aware of how to use the available resources to maximize profits and minimize losses. Proper budgeting is important in this case as it ensures that the resources do not go to waste (McCann, 2016, p. 256).
Technological factors
The sporting industry is swiftly adapting to technology which is really impacting on its growth. The market is witnessing huge growth due to consumer awareness. Development of e-commerce has played a greater role in its growth. Through tele conferencing, retailers have been able to do product promotion and therefore expand their markets. They have also promoted their businesses online by use of Facebook and other platforms. Every market has its ups and downs and in this, there is the emergence of counterfeit products which really brings it down at times. The embracement of technology is in order to grow and goes hand in hand with the changing trends in the global market (Fotiadis, Vassiliadis & Yeh, 2016, p. 232). High prices of the sport equipment are also some constraints in this industry to some extent. The industry is at a healthy state since sports ball cover the largest share in the market. The industry is segmented in terms of products and the region.
Legal requirements
There exist laws that aim at protecting the rights of consumers in United Kingdom. The government in this case has been disclosing detailed information on the safest products to use for the sporting activities. The latter is done mainly to ensure the safety of citizens and also ensure there is provision of standard food that is safe for consumption (Fotiadis, Vassiliadis & Yeh, 2016, p. 204). The consumer protection act 1987 provides protection to consumers so that the producers put information on their brands and safety messages. The trade description act and sale of goods act ensure that the retailers maintain the standards of trading and that the consumers are getting the value for their money and high quality products.
Market segmentation
For the sport and retailing industry to be made different, there has to be a planning order to achieve an effective segmentation. Operators have to learn how the products can improve in quality and also how the products can be differentiated. This can be in terms of packing or even branding. Unique features can also be introduced in the market segmentation (Chalip, Taks, & Misener, 2017, 187).
 Ball segment is also expected to be at the lead by 2020. It is expected to show a greater exponential growth. In order to maintain its sustainability, the sporting industry continues to give fairly priced commodities, a supply management that is efficient, distribution channels that are well improved, quality goods and many other. It does not compromise quality with quantity (Macneill, & Jeannerat, 2016 p. 245).
  Other factors such as increase in disposable income by buyers, government involvement are some of factors that have really supported the dynamic growth of this industry. Research is ongoing in the sporting industry. The research being conducted covers:

Raw materials used
Development of the equipment

Diversification of the products etc.

The use of carbon-fiber on the products is quite advantageous because of the light-weight, quality performance and quite a high strength. There is also a lot of encouragement by governments from other countries in the sporting inclination. This is really bolstering sporting activities, since there is a high demand of these products. The leading brand in the sporting industry is Nike followed by Adidas, Under Armor, Gatorade and then ESPN (Fotiadis, Vassiliadis & Yeh, 2016, p. 237).
On the swimming sector, it has continued to boom tremendously. Some of the products dealt with are speedo, goggles, snorkels, bags and zags. The analysis shows the different prices of each and how the prices have continued over the past years. Retailers have shown a constant pricing during this time. Swimming is a great form of exercise as far as working out is concerned. It helps in stretching of the bones and also accelerates mental development especially in kids.
The same area has also been blasting colossally. There has been a variety of items which are being traded. The investigation demonstrates the diverse costs of each and how the costs have proceeded over the previous years. Retailers have demonstrated a steady valuing amid this time. Swimming is an extraordinary type of activity to the extent working out is concerned. It helps in extending of the bones and furthermore quickens mental improvement particularly in children.
Consumer Behavior and Its Application
Considering the consumer behavior, it is seen that the young generation is geared up in terms of fashion even when it comes to sporting more than the old generation. Sports retailers seem to be doing well than the innovative designers over the years (Leone et al, 2015, p. 65). Measuring consumer behavior on the purchase of these products, it is seen that running and jogging has turned out to be having a higher proportion. Swimming follows whilst attending gymnasium takes the third position followed by football. In a research carried out by Mintel, she says that giving out discounts for gym and sports club membership would go hand in hand with encouraging people to purchase the respective products.
 This will increase their purchasing power and hence increase profit in the market. Young consumers show a great sense of interest when it comes to retailer’s innovations than actual designers. Outdoor sport industry has outperformed the economy globally and is expected to deliver services above the average (Zhou, 2015, p. 135). The latter happens to be the most attractive segment in the retail market.
The physical environment is a key aspect that should be looked into. This will go hand in hand with ensuring that the consumer’s welfare is properly looked into. When the consumers are satisfied they will continue coming back (Fotiadis, Vassiliadis & Yeh, 2016, p. 247). This helps in creating a good reputation to the outside world hence bringing more profit to the industry. Building good customer relation will make the industry trend profitably.
The physical condition is another key viewpoint that ought to be investigated. This will go connected at the hip to guarantee that the shopper’s welfare is legitimately investigated. At the point when the shoppers are fulfilled they will keep returning (Fotiadis, Vassiliadis and Yeh, 2016, p. 102). This makes a decent notoriety to the outside world conveying more benefit to the business. Building great client connection will make the business incline beneficially (McEwan & Weston, 2017, p. 135).
Relationship between retailers and brands
Outdoor sporting industry has got three types of market players; that is, the brands who design, retailers and manufacturers. Nevertheless, the brands are developing some sales via the internet and owning retail stores (Garcia-Fernandez, et al, 2014, p. 276).
. This is bringing some sort of disparity. Multi-specialists are coming up with a strategy of openings to points of sales. They are doing this in order to widen their geographical boundary. They usually have a higher bargaining power over the brands therefore gaining favor from the end-users. They offer nice and attractive prices to the buyers (McCann, 2015, p.17). They put their products on the limelight. Multi-specialists have started creating brands ignored to gain more value.
  They are doing this so as to augment their geological limit. They normally have a higher haggling control over the brands along these lines picking up support from the end-clients. They offer decent and appealing costs to the purchasers (Burton, 2017, p. 383). They put their items on the spotlight. Multi-pros likewise have begun making brands overlooked to acquire esteem (Ratten, 2016, p.162)
This is becoming a threat to distributions that are pure modelled in the coming future. Brands are posing a great challenge by having a direct access to the sales of the consumers. This is making some retailers such as oxylane to launch their own range of products. Brands are also having an issue when it comes to size (Chanavat & Bodet, 2014, p.223). This is because they are supposed to reach a particular size in order to have effective differentiation.
Conclusion
 The outdoor sporting and retailing industry has continued to do well in the recent years and is expected to grow in a huge rate. This is because the individuals have responded well to healthy lifestyles which are promoting a great deal of sales. This is really bolstering the economic pattern and raising revenue to a great percentage.
The government plays a very important role by initiating measure for consumer awareness regarding fitness and healthy lifestyles. Other government organizations are partner with the outdoor sporting and retailing industry to ensure that the consumer’s interests are looked into. This goes hand in hand in increasing the net worthy of the industry leading to its expansion. Among all other aspects, the industry is really doing well.
References
Burton, R., 2017. The US Sport Industry. In Sport Business in Leading Economies (pp. 383-426). Emerald Publishing Limited.
Chanavat, N. and Bodet, G., 2014. Experiential marketing in sport spectatorship services: A customer perspective. European Sport Management Quarterly, 14(4), pp.323-344.
Chanavat, N. and Desbordes, M., 2017. THE MARKETING OF FOOTBALL. Routledge Handbook of Football Marketing, p.9.
Fotiadis, A., Vassiliadis, C. and Yeh, S.P., 2016. Participant’s preferences for small-scale sporting events: A comparative analysis of a Greek and a Taiwanese cycling event. EuroMed Journal of Business, 11(2), pp.232-247.
Garcia-Fernandez, J., Bernal-Garcia, A., Fernandez-Gavira, J. and Velez-Colon, L., 2014. Analysis of existing literature on management and marketing of the fitness centre industry. South African Journal for Research in Sport, Physical Education and Recreation, 36(3), pp.75-91.
Chalip, L., Green, B.C., Taks, M. and Misener, L., 2017. Creating sport participation from sport events: making it happen. International Journal of Sport Policy and Politics, 9(2), pp.257-276.
Leone, L., Ling, T., Baldassarre, L., Barnett, L.M., Capranica, L. and Pesce, C., 2015. Corporate responsibility for childhood physical activity promotion in the UK. Health promotion international, 31(4), pp.755-768.
Lord, R., Bolton, N., Fleming, S. and Anderson, M., 2016. Researching a segmented market: reflections on telephone interviewing. Management Research Review, 39(7), pp.786-802.
Macneill, S. and Jeannerat, H., 2016. Beyond production and standards: toward a status market approach to territorial innovation and knowledge policy. Regional Studies, 50(2), pp.245-259.
McCann, J., 2015. University of South Wales, Newport, UK. Textiles for Sportswear, p.17.
McCann, J., 2016. Sportswear Design for the Active Ageing. Fashion Practice, 8(2), pp.234-256.
McCarthy, J., Rowley, J., Jane Ashworth, C. and Pioch, E., 2014. Managing brand presence through social media: the case of UK football clubs. Internet Research, 24(2), pp.181-204.
McEwan, K. and Weston, N., 2017. Different spokes: a multidimensional scale analysis of market segmentation in mountain biking. International Journal of Sport Management and Marketing, 17(3), pp.162-181.
Ratten, V., 2016. The dynamics of sport marketing: Suggestions for marketing intelligence and planning. Marketing Intelligence & Planning, 34(2), pp.162-168.
Shams, S.R., 2015. Implications of relationship marketing indicators to enable organizational growth: A stakeholder causal scope analysis. In Marketing and Consumer Behavior: Concepts, Methodologies, Tools, and Applications (pp. 1499-1529). IGI Global.
Sparks, L. and Letham, S., 2018, May. Sport and Retailing. In Managing Sport Business: An Introduction (pp. 346-363). Routledge/Taylor & Francis Group.
Zhou, C., 2015. Impact of Electronic Commerce on the Sporting Goods Market. Open Cybernetics & Systemics Journal, 9, pp.2135-2140.

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