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 demographics year olds active trendy [up to date on fashion] non-commuters live / work in town target market d-i-y-ers / 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 contd viewed 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 survey very 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) 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 plan national 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 analysis its 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 audiences 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