fixt bikes
DESCRIPTION
fiXt bikes. jenny yu | jessica churchill | nathan dixon | nicole rossi adv 123 | eckstone | october 18, 2010. definition. fixed gear - bicycle that has no free wheel [it cannot coast], the pedals are always in motion while the bicycle is moving wikipedia.com. original concept / idea. - PowerPoint PPT PresentationTRANSCRIPT
fiXt bikes
jenny yu | jessica churchill | nathan dixon | nicole rossi
adv 123 | eckstone | october 18, 2010
definition
fixed gear - bicycle that has no free wheel [it cannot coast], the pedals are always in motion while the bicycle is moving
wikipedia.com
original concept / idea
a do-it-yourself bike customization online shop
unique selling proposition
self expression
geographic demographics
urban / [major] cities
college campuses
bars
west coast
target demographics18-35 year olds
active
trendy [up to date on fashion]
non-commuters
live / work in town
target market
d-i-y-er’s / urban / retro / hipsters [culture]
mildly athletic
has disposable income
young professionals who work in town
the “green” market
general perception
out of 38 people surveyed:
favorable responses: 16/38 (42%)
neutral responses: 8/38 (21%)
unfavorable responses 14/38 (37%)
general perception cont’dviewed as a trend / fad
strong love / hate trend
firm opinions on fixed gear bikes
general opinions ( + )
ability to customize the bikes to their own personal style
unique
general opinions ( - )
cost (when asked if $300-$600 was an okay price)
personal perceptions of people who partake in trend
price survey
$300-$599
yes: 18%
no: 82%
*most fixed gear bikes are upwards of $400 - $1000
results of the surveyvery few were interested in buying a fixed gear bike
those few had prior knowledge of fixed gear bikes
cited they would pay over $500 for a good one
new concept/idea
selling interchangeable parts of the bike to keep the cost down
different colors/styles of : handlebars, seat covers, paint sets, rims, wheel covers, led lights
types of advertising
definitely
respond
might respond
would check it if it was
more convenient
would ignore
tv (40) 2.5% (1) 50% (20)17.5% (7)
30% (12)
internet (38)
7.9% (3)57.9% (22)
5.3% (2)28.9% (11)
radio (38)
0.0% (0)13.2% (5)
7.9% (3)78.9% (30)
newspaper (39)
0.0% (0)15.4% (6)
15.4% (6)
69.2% (27)
magazine (39)
7.7% (3) 41% (16)23.1% (9)
28.2% (11)
advertising response
television and internet are obvious media choices, followed by target specific magazines
radios and newspapers are primarily negative responses
marketing plannational television commercial to expose the brand
mtv, vh1, spike, comedy central, [adult swim], fuse
internet advertising on d-i-y websites to pull in customers to online store
facebook, threadless, vans, pandora, grooveshark
target specific magazines
biking, shoes, apparel, music, tattoos
environmental analysisit’s a west coast trend
focus on college campuses / bar scene
no physical stores - online only
can approach “green” audience - no pollution
economic analysis
college students are poor
young professionals tend to have disposable income
selling individual parts will be cheaper [wholesale]
social analysis
interested audience usually already own a fixed gear
trend may / may not take off in other cities [i.e. east coast]
“bike party” social events
swot - strengths
serves target audience’s personal style
relatively low maintenance
people fall easily into trends
swot - weakness
cost
people who are into this trend usually have one already
hard to ride
swot - opportunities
can pull in more potential consumers, especially to areas that the trend is unknown
create a new market for low cost customized bikes
swot - threats
people who already own a bike
no interest
no money
loyalty to a certain brand of bike
personal perception of fixed gear riders
marketing/sales objectives
achieve a specific market share and recognition of brand
basic advertising strategy(1) 30 second national commercial
online advertising on several sites
some advertising in urban d-i-y / apparel magazines
sponsor events [“bike party”]
issues raised
further research - we need a more concentrated survey targeted toward people who already own a fixed gear bike, not just the target demographic
find out reasons behind owning a fixed gear