Business Plan

ENES672

10-4-20

Specific target market

Based on the solution that already been presented, I would say that the target market, in this case, is stakeholders of the National Football League (NFL); they will be the people who will mainly be targeted since they are the ones who will directly benefit from the solutions that had earlier been represented (Abeza et al., 2019). The number of buyers that exist in this target market involves at least three groups of people; the first group will be the ones who like or enjoy watching the games played in the NFL. The second group are the people who will be directly participating in games that will be played in the field, and the last group will be the people who have put their investments into the football league they can be referred to as sponsors of the league in general.

Specific Customers

In this case, the specific customers will be football fans who like going to watch the stadium's matches. The people who play those matches will also be part of the customers who will benefit from the solutions presented. Fans will be regarded as customers since they will be the ones who will enjoy the services of watching matches from the HD screen that will be placed outside the stadium. In case they may be able to make it to the stadium, they may just decide to down the application that will allow them to live stream the matches that are being played at any particular point of time. These two groups of customers are the ones who the solution will benefit the most since they were the ones who were directly affected by the problem, which earlier presented itself in this industry.

Current market state

The current market is filled with many opportunities since many gaps have not been filled to make sure the lovers of sports are fully satisfied through the use of the current technology. Technology has not been fully utilized to ensure that their services properly entertain people. The solutions that I had presented will help address the problems the current networks have failed to address. It will also assist in making sure that the level of customer experience becomes top-notch so that the fans will be able to develop a mutual relationship with their favorite players (Funk et al., 2016). The market is highly fragmented since there is a lot of confusion, especially during matches where no effort has been made to ensure that fans are catered for in the best way possible.

We can see from the market that there is a lot of congestion of cars in the parking area because there is no proper procedures that have been put in place to make sure that the issue is adequately addressed. Everybody in the market wants a chance to see the matches in place, but they end up not being able to do so, which results in a lot of ticket price hiking. The market needs a solution that will help address the problems that have presented themselves; players don't even have the opportunity to showcase their real talent at an early age since they are not taken very seriously. Only the professional players have the advantage of being taken seriously, especially by the broadcast networks that are currently available in the market. This particular market will greatly benefit from my solution since it will help in addressing all the problems that this market is currently facing, hence the customers in this market can end up being satisfied by the type of services offered in this industry.

Market addressing the problem

To address the problem the TBSB identified the opportunity that were developed as a result of the gaps created, it has been able to come up with an app that would enable the right type of content to be created so that the young adults would be in a position to become legends who are extraordinary in their own right athletic-wise. The app created by TBSB main goal will be to ensure that interaction between the family, friends, football players, and fans has increased. They have also gone further to make sure that they provide the football fans with opportunities of viewing what goes on behind-the-scene, in addition they have done regular team updates and conducted interviews to show to the fans which has been a way to satisfy their desire of knowing what other things their favorite players likes to engage on after they have finished playing in the field (Kingsnorth, 2019).

To ensure that fans are satisfied, TBSB decided to promote an element of fan favoritism. The people who will be able to use the application developed by the network company will have the opportunity to customize the app's themes and background to their own individual liking. The teams will administer weekly and daily mega –raffles, hence they will have the chance of winning a different kinds of prices and by doing so it will assist in making sure the app built is well promoted and also liked by the users. Football fans will have the opportunity of getting the most accurate information about the player stats, scores, and any other information that is relevant to the teams, this will be done by ensuring that there is no discrepancies in the kind of information got or even given out (Morgan et al., 2019). The information was cross-checked through a browsing software since there is always a risk of miscalculation of data in the low-level division.

Customers do spend money on some of the problems I had highlighted before, this is seen in the case where customers buy tickets that are being resold even though at that particular time they are being charged very high prices. People who had taken the time to buy a lot of tickets to brokering them when they were all sold out were the ones who were paid by the customers. They charged high prices on the resale because they know at that time they are on-demand, and people will pay any amount of money to be able to get a chance of viewing the match that would be taking place at that point in time.

Customers having a sufficient budget

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In this case, the customer can be perceived as capable of having a sufficient budget and are in a great position of purchasing some of the products that we would develop due to the solution we have recommended. The reason for saying so is that the customers could enjoy some of the services offered in the market, which were more or less the same as those solutions we had come up with. This means that purchasing power was relatively good, and because of their love for the game, they would to anything to ensure they are fully satisfied. Even if we take a look at the extent which they go of buying tickets that were being resold just showed how much the kind of extent they would to ensure they don't miss any game, without having any doubts, I can confidently say that the customers are well-off in terms of product purchasing in the market.

References

Abeza, G., O’Reilly, N., & Seguin, B. (2019). Social media in relationship marketing: The perspective of professional sport managers in the MLB, NBA, NFL, and NHL. Communication & Sport, 7(1), 80-109.

Funk, D., Funk, D. C., Alexandris, K., &McDonald, H. (2016). Sport consumer behaviour: Marketing strategies. Routledge.

Kingsnorth, S. (2019). Digital marketing strategy: an integrated approach to online marketing. Kogan Page Publishers.

Morgan, N. A., Whitler, K. A., Feng, H., & Chari, S. (2019). Research in marketing strategy. Journal of the Academy of Marketing Science, 47(1), 4-29.