Marketing of the Weight Pack
Price and Justification
The company will have three categories of Weight Pack: small, medium, and large. Accordingly, the price of each Weight Pack will depend on its size. The small type will cost $55, the medium will be $75, and large will be $110. The loading weights will be sold separately, and their prices will also depend on their sizes and quality. Typically, these gym plates range from as little as $5 for half a kilogram weight till $55 for one that is 20 kilos. The freedom of allowing customers to buy different Weight Packs will ensure that each kit can fit the athlete. Additionally, the choice of buying loading weights will enable customers only to purchase what they can be able to use. Moreover, those who already have gym plates at home will avoid unnecessary costs.
The retail price of $55 for the small, $75 for medium, and $110 for the large kit will enable the business to be competitive. Currently, the company’s competitors sell either weighted vests or load trainers and ALICE (All-Purpose Lightweight Individual Carrying Equipment Pack) frame at a higher price. Rogue fitness, for example, sells their load trainers and ALICE at $129 per kit while weighted vests range from $29-$211 on Amazon (“Load Trainer,” 2017; “Training Weight Vests,” 2017). Since Weight Pack is made using high-quality fabric and is equipped with quality steel bars, it will also provide customers with great value for their money.
The business will use multiple distribution channels to reach to more customers at a low cost. These channels will include the use of wholesalers, value-added resellers, consultants (professional athletes), retailers, and sales agents. The use of both contemporary and modern distribution channels will ensure that both old and young athletes can access the company’s products.
The use of wholesalers will enable the organization to penetrate markets where the former already have a presence. Essentially, the wholesalers will be the firm’s customers; therefore, it will sell them the Weight Pack, which they will re-sell to end users or retailers. The business will also sell its products using value-added resellers. These are sellers who would modify the Weight Pack to match the unique tastes of their customers. For example, they may decide to use more stylish fabric or to add a pocket where athletes can put their phones when training.
The firm will promote the Weight Pack through experts (famous professional athletes who have a lot of followers in social media). It will also brand these kits with the athletes’ names to encourage their followers to make an order. Therefore, the use of consultants will enable the firm to penetrate the competitive sports’ market. The business will also distribute its products through retailers. Since retailers have a wider coverage of the country and are more accessible to customers, this channel will ensure Weight Pack reaches the target clients quickly.
Besides using the indirect distribution channels, the company will use direct methods to get immediate feedback from customers and to lower the cost of the Weight Pack. In this case, it will use sales agents who will directly sell Weight Pack to athletes in local gyms. Additionally, the company will also sell the kit through its website. This method will enable individuals from all over the world to make a direct online purchase from the enterprise. To increase customers’ satisfaction and confidence, individuals will have the opportunity to directly communicate with company’s customer care agent through a chat box on its website. Finally, all Weight Packs will have a three months guarantee.
The business will use traditional marketing strategies by focusing on product, price, promotion, and place. Weight Pack is an essential product for all athletes because it is portable and enables full body exercise. Therefore, the company will use start athletes to market this product. Additionally, it will also stick posters in sports arenas gyms where individuals will observe how the equipment is used.
The sports equipment market is competitive since there are a lot of reputable multinationals and local businesses that manufacture various exercising kits. As a result, a trader must consider the prices of competitors before settling on a particular retail price for his/her products. Therefore, the company will ensure the price of Weight Pack is lower than that of weighted vests or load trainers and ALICE to entice most athletes to make a purchase.
The firm’s primary promotion methods will entail the use of famous athletes and billboards. In sports, most individuals always aspire to be like star athletes. Therefore, sports personalities have a significant influence on the purchasing behavior of their fans. Accordingly, the use of these individuals will make the company to reach their followers quickly. The use of billboards will enable the organization to market the Weight Pack to persons who are not active on social media.
Finally, the company will ensure Weight Pack is available in all the key towns in the United States so that it can be accessible to most athletes. Consequently, the firm will use distributors who have shops in all major cities in the United States. This tactic will establish that athletes can find Weight Pack in any state in America. Additionally, the company’s website will enable individuals who live outside the United States to purchase this equipment. Finally, the company’s sales agents will regularly collect reliable data on areas that are hard to find Weight Pack, which enable the organization to establish appropriate distribution channels for these regions.
Strength training weight vests. (2017) Retrieved from https://www.amazon.com/Strength-Training-Weight-Vests/b?ie=UTF8&node=3408561.
The load trainer. (2017). Retrieved from https://www.roguefitness.com/alice-frame-and-load-trainer?bvstate=pg:2/ct:r