DP

Wheelie Good Bikes Marketing Plan

Wheelie Good Bikes delivers quality, state of the art recreation, mountain, and speed bikes, excellent customer service, and creates shareholder value by earning customer trust and business every day. In the first three quarters of operation, we are top performers in our industry with the highest balanced scorecard and had the highest demand in one of our market segments. Internally, we have the most productive sales staff and have the most productive workers in the industry. In quarter 2, Wheelie Good Bikes had the highest demand in the Recreation segment compared to our other competitors, showing our strength in the market. We have established stores in New York and Amsterdam and have developed six successful brands of bikes. With our willingness to take risks and defer profits to build a strong competitive position, we strive to be the first to market to get ahead. Our strategy is to provide superior customer value with a high personal touch, integrate superior manufacturing, strong asset management, and to embrace conscious capitalism.

Over the past year, our financial performance has been steady, but we have begun to adjust our business strategy to correct our weaknesses but also expand upon our strengths. Financially, we have had to invest in our employees to increase morale and hire more workers in production to accommodate for demand. We sold another 5,000 shares of common stock to the team at 100 per share in quarter 3 and have 2,500,000 in equity, and we have not had to take out any loans. Every quarter we have steadily increased our end of period cash balance and have also re-invested in Wheelie Good Bikes in the process. Overall, our debt ratio is 0.00 and our gross profit margin ratio is 56.08. We have had 594,750 in revenue and 333,560 in gross profit.

Understanding the customers' needs is a necessity for the company to meet the customers' demands and leverage the market factors. Wheelie Good Bikes aims to meet the market needs by distributing the bicycles and their assorted components to meet customer needs through selection, accessibility, customer service, and competitive pricing. The market trends show that investors in bicycle accessories and service departments have been making more profits. While undertaking the new marketing strategies, the company's strengths include well-skilled and trained staff, a wide selection of bikes, and an excellent reputation with the manufacturers for negotiations on the distribution prices. Despite the weaknesses encountered by the company in its operations, the company can still make sales to boost its revenues. The model used by the company addresses the issue of decreasing margins, spreading costs to increase profit margins, and the industry has circular natures that boost the potential of the investors in the industries.

In our current market, the competitive analysis of the company is enabling it to gain a more significant share in the market. The wholesale distribution of the bicycles and assorted parts is estimated to accrue $61,000 in profits in the next three years if the company stays innovative and conducts proficient research. Wheelie’s success is due to the managerial strategies adopted at the company, which impact inventory management, customer service and experience, and unbeatable selection. The company’s new strategy is speculative, and critical issues such as fiscal approach, building brand awareness, and maintaining good relationships with business partners should be maintained.

For the next year in business, Wheelie Good Bikes will continue to steadily increase profits and strategize to become more competitive in the marketplace and continue to improve and build upon the brand. In quarter 4, growth is expected to increase by 3% and we see new sales strategies developing around carbon fiber bikes and new technology, however pricing is not expected to improve through the next quarter since buyers are not willing to pay more. The strategy for the brand is to invest in the future through new branding, features, sales channels, and adding more production capacity. The pricing strategy would need to remain the same for a short time so we can invest in more sales outlets and more people manufacturing to help the brand take off. With that, the strategy for advertising is to engage with customers through social media and search engine marketing; both methods would increase awareness around the brand and potentially increase sales. Though competitors in different cities and in the various sales forces have dampened our sales strategy, we still intend on going forward as we will need to add more sales and service people to our New York City location and possibly provide specialized training. Overall, it will take a lot to get ahead in the current marketplace since one of our competitors is on top in a few key areas. We will need to invest further and revamp our advertisements, sales strategy, and to follow up on our employee studies involving environmental concerns, employee involvement, and production efficiency. Market feedback will be essential to pushing our brand to the next level.

Wheelie Good Bikes stands by their mission, to deliver quality, state of the art recreation, mountain and speed bikes. We are firm believers in providing excellent customer service, establishing shareholder value, and customer trust within our day-to-day operations. We have proven to be a top performer in the industry, with the highest balanced score card and the highest demand in one of our market segments. Our sales staff not only understand their product, they are extremely productive within their work environments. Our plan is to take our brand and our 6 top of the line “Wheelie Good Bikes” to the next level. Not only through personal touch, but integrated superior manufacturing and strong asset management. Wheelie Good Bikes will embrace conscious capitalism. We will continue to invest in our employees, through morale incentivization and support. As our demands increase, so will our production teams. Our goal will continue to be understanding our customers and to continually meet those needs. As our brand grows, we will continue to focus on our brand strategies and future technologies. Social media and search engine marketing will continue to be a focus and growth mechanism. We will strive for better investment options, revamping of our advertising strategies as we see fit, and continuous follow-up and loop closure with our valued customers. Our priority will always be our quality and our customers.

References

Abbey, A. (2018). Bins, bikes and cars. In The Housing Design Handbook (pp. 254-271).

Routledge.

Kajiyama, Y. (2021). Wheelie and normal downhill on a bicycle. Physics Education, 56(6),

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