Marketing Assignment: Strategic Planning for XBlades
Prepare a report on marketing assignment on the strategic planning for XBlades. Use data to provide a view of 'where the market is now' and where it is likely to move between now and the short and long term in developing your client strategy and suggested implementation tactics. What is your strategic plan to achieve your clients goals and what tactics do you suggest implementing (support these with data, insight and ground them in reality - cost vs income potential); Include thoughts on cost and potential income opportunity (this does not need to be exact, but you need to demonstrate that you have considered cost/income) in implementing your strategy plan
Strategic plan and tactics
XBlades, the Australian sports equipment manufacturing company selected in the present marketing assignment mainly belongs to the footwear and textile industry. At present their level of engagement with the industry can be stated through their involvement in designing, developing, and selling products that are related to clothing and footwear. The claim is confirmed with its customer base through the involvement of 32 years as it has started its journey in 1989 to make shoes for athletes, specifically for players of Australian Rules Football and Rugby Union (Frizzell et al. 2018). Initially, the organization was the creator of the bladed sole of football boots to confirm less injury for the athletes. However, at present, they are selling commercialized products like clothing, including caps, socks, short jackets, hoodies, t-shirt, football boots, sportswear, and protection equipment like head covers, shoulder pads, and most importantly backpacks, bags like accessories. Thereby, it is clear that they had accustomed a subtle growth in their way. The initiation can further be justified by their served Areas where initially there were only operating in Melbourne, Australia and now they have addressed the market of United States, United Kingdom, and Australia. The CEO of the organization Leighton Richards needs to be appreciated for such up-gradation in product and target market. At present they have different brands like Intercept, Animal, Voltaic, Jet (XBlades - Sporting Footwear & Apparel Specialists, 2021). Their operational culture can confirm that in the product category they have already sustained almost everything from the sports category thereby for the short-term goal they can address further product innovation to make a perfect blend between quality and safety keeping their initial thought. They even justify product innovation like the perfect balance between quality, safety, and look to make it stylish for the new athletes as style statement becomes very important for athletes of the present era. As they have already acquired the national market successfully with product categories and target market in the long-term, they can look for international market penetration to confirm further initiation on their part. They have had enough market experience from the national scenario which they can exercise for international adoption. In order to achieve both short-term and long term, it would be better for the organization to start promoting and marketing community sports clubs with the help of hosting of fashion shows or with added uniqueness brand new football. The strategies would help them to confirm not only short-term goals rather can offer them a better base for the long-term goal i.e internationalization and as the uniqueness is appointed, but all athletes and people who love sports internationally would also be attracted towards the organization. Neither in the sportswear industry nor in the sports industry, the fashion show is a common thing; thereby it is a new concept to introduce which not only initiate attraction for the organization rather would help to confirm that innovation plays the key role for the organization which is most important at the present context (Li, and Han, 2021). Such type of strategic marketing planning can be much helpful to confirm both short-term and long-term goals in their way. However, the implementation can only be successful effective when it would be cost-beneficial or cost-effective. In order to confirm the same, it would be better for the organization to charge a small entrance fee to raise some funds. For an organization, the most important thing is economic corporate social responsibility. Raising fund not only help them to have some financial support, rather it would even offer the focus of engagement of people towards the event to not to waste a huge amount of money without having any sort of confirmation of its success. Having the entry fee with a minimum of the amount would confirm the engagement of people beforehand so that the organization can plan or rectify the plan accordingly. It can have enough data to support the new initiatives without being threatened by the possibility of huge loss. The amount which would be raised by the entry fee might not be adequate for the event, however, it would confirm potential income opportunity as well as a cost reduction opportunity by providing enough insight to organize, the event including sustainability to not to face any type of resource waste.
Considering the industry type and its dealing with the industry, it would be better for the organization to address preference or loyalty at first. People who love sports or athletes can be the target for the strategy as the segments can be referred to as loyalists to engage with the entire event easily (Clearinghouseforsport.gov.au. 2021). As it is already conveyed that the modern generation is more into fashion show can be the highest attraction for them so the immediate target market would be young with the age under 30. Successful athletes further mostly belong to young age; hence it would support the notion as well. The organization has presented 3D printer printing Technology in their manufacturing process which has the best advantage of customized products which further can be much attractive, there always prefer some specific requirements, which can better be addressed by customized products (XBlades: The Future of the Footy Boot — Matters Journal. (2019). In order to attend revolution and exercise innovation in their product category, they have confirmed the best-customized sportswear through 3D printing technology. As per the CEO of the organization, people are more accustomed to the sports like soccer and basketball, though in Australia popular sports are rugby, football, and cricket which is even popular in most of the commonwealth countries. Keeping the consideration in mind, they have sustained such type of innovative strategy of operating customized products to confirm the best involvement of the generation Y. They have started their journey with football boot though, at present, they are looking for presenting different types of boots in the category of football; midfielders' boot would have special characteristics to protect him as per his position. In order to offer maximum satisfaction for the target customers, they have properly researched the particular demand of each position and have come with the best-customized product for that particular sportsperson. For product innovation in product manufacturing, they have exercised innovation to address the modern generation lives with the thought of right now and this time is a big factor to maintain the consistency for the target market to confirm their loyalty for long. Considering the aspect, they have changed the testing system of the customized products which takes a lot of time for step-by-step processes like creating the design, sending it to the factory, creating the mold, printing the mold, and shipping back to Australia. At present to meet the target customers' requirements in no time they had distorted and adjusted the entire process which can be accomplished within a few hours. Such type of strategic investment in part of the organization can confirm that defined target market is addressed. Quantity is another important factor in the era. The young generation always tries to follow some role model. Hence if some sports personalities get success by the new customized product, then the product requirement can be tripled or more than that within no time which at once can be threatening for the entire supply chain. However keeping the consideration in mind, the organization justified productivity as with the new system the shoes are being made within a few hours which confirms initiated productivity. Apart from quantity, quality, and fashion, the modern generation always looks for comfort. In order to satisfy the comfort level of the target audience, the customized product is being made as per the ankle, knee, and hips of the athlete. Apart from the organization of the things, by noticing the change in the environment has confirmed equality where they are producing same types of products for women and girls with the special lookout for boys with the age of 5 to 17 years and girls with the age of 12 to 17 years considering their attitude of easily being influenced with others (Clearinghouseforsport.gov.au. 2021). In order to accommodate the generation, they can take the help of the local community, sports events as well as social media to generate mass awareness. With all referred strategies, they have confirmed everything; however, retention is even important as the target audience is whimsical and further maintains involvement with increased and changed commitment as per the scenario is very important.
For the referred retention factor, inspiration is very important as that can always move the target audience towards the pros of the organization confirming loyalty for long. As it is already said that further innovation is needed as per the changing scenario, the product innovation is even important for which tracking device adoption can be another unique step towards betterment and success. It can help to be connected every time as well as can be influential for social aspects as the tracking can even reduce crime rate in the society. It can even be inspired by the new launch of Adidas. Adidas has launched intelligent running shoes (Adidas.co.in. 2021). By taking an example, it can even design certain products like it with added features to make it different from that of Adidas. It can be much influential for the target audience immensely.
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