OFF THE cHAIN bIKES
Off The Chain Bikes Business Strategy
Sean Miller, Joshlin Martinez, Catrina Phelps, and Feng Zhang
At Off The Chain Bikes our mission is to be a profitable provider of high quality bicycles that provide value to our customers and create a company that can attract, recruit and retain smart and talented employees. Our vision is to be established as one of the top Bicycle Manufacturing companies in the country and provide innovative and quality products to our customers. Outlining our goals, analyzing and strategizing for our internal and external environment, staying on top of our financial health, taking care of our investors, and effectively marketing our products will be the keys to a long-term successful business plan. In order to do so, we will need to be aware of the demands and needs of our customers. Understanding the needs of our customers means we are going to provide a wide variety of products to capture the needs of a wide variety of bikers. After lengthy and intense market research we have determined that there are 5 bike types that we will need to provide to our customer population. For the racing community we will be providing a premium racer bike that will fit the needs of any competitor serious about gaining the edge on their competition. Kids will enjoy our Red Racer series that will provide a safe and fun riding experience for kids at all ages. Leisure bikers will love our Adv3 bikes as they provide a smooth and comfortable ride for anyone wanting to take a stroll. The adventurous bikers will love our Mountain Climber series. This slick design is capable of handling all types of terrain and weather conditions that will allow the rider to climb the tallest mountains and ride down the steepest hills. Last but not least, our iTaxi series allows you to make traveling fun with a quick ride that has a built in holder for your phone, iPod, or MP3 Player. By providing a wide variety of bikes that fit the needs of multiple ages, riding expertise and needs will allow Off The Chain Bikes to become the premier Bike Company in the United States. This plan will be implemented by our executive management and employee population that has been hand-picked as the most brightest, caring, and engaged staff in the bike industry today. Our executive management team gathered, researched, and discussed our short and long term goals for Off The Chain Bikes. These goals vary across different areas of our business, such as, financial health, customer awareness, brand confidence, market entry, and others. Off The Chain Bikes short-term goals:
• Increase sales through repetitive purchases.
• Reduce cost of production to give a better pricing to our customers. • Introduce existing products into new markets.
• Introduce new products into existing markets.
• Strengthen relationships with vendors and partner stores.
Off The Chain Bikes short-term goals:
• To build a rapport among our customers through Total Customer Satisfaction. • To deliver safe and comfortable products to our customers. • Pay off entire company’s debt.
• Maximize our shareholder’s wealth.
• To be a global and socially responsible company.
• Enter into new markets.
In the short term, Off The Chain Bikes will focus on the development and sales of our current and developing products. We wish to immediately insert ourselves as one of the top biking manufactures in the market. We will provide the best of every major product design in the United States and continue to push into new markets. In the long-term, we are focused on continuing to build our brand, our investor’s wealth, and a debt-free, socially responsible company. In order to do so we will need to continue to increase sales, monitor spending, and build on our already sterling record with the communities in which our company resides. We will also be making an effort to provide those less fortunate with bikes to commute...
Please join StudyMode to read the full document