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cherodjones
SportsApparelBusinessPlanInformation.edited1.docxRunning Head: BASELINE SPORTS APPAREL BUSINESS PLAN 1
BASELINE SPORTS APPAREL BUSINESS PLAN 8
Baseline Sports Apparel Business Plan
Cherod Jones
Florida Tech
Table of Contents
Title Page
Cover Page 1
Introduction and Overview 3
What we Sell 4
Market analysis and Sales Forecast 5
Conclusion 6
References 7
1. INTRODUCTION AND OVERVIEW
Baseline Sports Wear is a men’s aerobic sports retailer based in Glen Burnie MD. The company specializes in offering sports apparel for boys and men. Adopting effective strategies such as focused segmentation and providing existing customers with current products is one way to attain growth in revenue. The company will meet the needs of a growing sports segment and offer products at a substantial value and committing to providing improved performance over time (Davis, 2017).
a) Objectives
The main objective for Baseline Sports Wear is to sustain profitability and provide value for its customers. This would be achieved by ensuring that the company produces products that offer quality and can be relied upon on in the future (Leatherbarrow & Fletcher, 2015).
b) Mission
Inspire people through sports culture by providing active wear by providing quality through innovation.
The key to success is through innovation, providing cutting edge technology, and the adoption of an efficient business strategy.
The apparel and accessories of Baseline Sports Wear is achieved by aligning with a corporate image and identity. Baseline Sports Wear will strive to become the best company in providing sports materials to individuals. The primary research methods adopted by the company include the sampling method. The first data collection includes questionnaires, while the secondary data collection methods include websites. These methods are used to study the personal, demographic, and rational profiles of Baseline Sports Wear users (Hayes, 2018).
Baseline Sports Wear is owned by a majority shareholder (51%) and other shareholders around the world whose focus is to ensure that the company becomes one of the leading sports companies in the world.
The company was started to create one of the largest sports companies in the world. However, after a careful analysis of the market, the company will diversify into other sports products. The company will amass a vast following and adopt a strategic position that helps to illustrate underserviced areas in the market. The distribution network at Baseline will become one of the best as the company will adopt an efficient marketing strategy that ensures the company can grow as a healthy and sustainable business (Leatherbarrow & Fletcher, 2015).
2. WHAT WE SELL
a) Summary
Baseline is a Sports Wear company that is focused on selling clothes, shoes, and caps for boys and men who are actively engaged in sports, eventually branching out to women’s apparel.
Baseline Sports Wear growth strategy is based on adopting other active lifestyles such as jogging, CrossFit-training, and mixed martial arts (MMA) to name a few.
The company will offers services to connect people with training. Individuals who want to adapt an active lifestyle can be connected to gyms who can help people realize their goal of losing their weight or even becoming competitive.
3. MARKET ANALYSIS AND SALES FORECAST
The total market for sports apparel in the United States is $200 billion on an annual basis. This means that Baseline Sports Apparel has a good chance of competing in the marketplace to achieve sustainability over the years (Leatherbarrow & Fletcher, 2015).
b) Target Market Summary
Baseline Sports apparel has identified different market segments for its products in terms of geographic, behavioral, psychographic, and also demographic segmentation. The geographic segments are divided into different units in terms of countries, cities, regions, and states. The psychographic segments are classified in terms of goal achievers, hard workers, and well-experienced groupings.
c) Target Market Segmentation Analysis
The strategic positioning at the company is essential for ensuring the company has substantial strategic performance. Baseline brand fits into the grand strategy as a result of top-notch technologies, designs, and also the adoption of unique culture of an active lifestyle that can achieve strategic growth (Leatherbarrow & Fletcher, 2015).
d) Target Market Segment Strategy
Baseline market segment strategies include focused differentiation, focused segmentation, and pricing strategies. There several ways in which the apparel will be differentiated from others that exist in the market place. This is achieved by offering active wear that has technology specific to CrossFit-training, and mixed martial arts (MMA) (Leatherbarrow & Fletcher, 2015).
e) Sales Forecast
The company is forecasting to sell $5 million of sports apparel on an annual basis.
f) Business Context Analysis
The business environment for sports Apparel is competitive. However, there are several factors that have been identified in the marketplace that ensures the company will become competitive over time. This includes competing using a focused differentiation approach that would target customers who fit into a niche in the market and offering a product they cannot get anywhere else. There are opportunities for the company to improve in the market, such as involving in different forms of advertising, having improved distribution, and also offering price incentives (Leatherbarrow & Fletcher, 2015).
g) The Competition and Customer Buying Patterns
Many competitors in the sports apparel business include Nike, Adidas, and Tom Ford. These are the major competitors that have brought business rivalry in the market. Low pricing is the best competitive strategy that would be adopted to ensure that the company has an edge on the marketplace (Leatherbarrow & Fletcher, 2015).
References
Davis, B. (2017). Mastering organizational change management. Plantation, FL: J. Ross Publishing
Hayes, J. (2018). The Theory and Practice of Change Management. London: Palgrave
Leatherbarrow, C & Fletcher, J. (2015). Introduction to human resource management: a guide to HR in practice. 3rd. London: Chartered Institute of Personnel and Development.
