Speedo Marketing Plan Essay Example

to be pre4pared and avoid being caught by surprise in by things which are predictable. Analysis of markets and the state of competition has been done. New companies in the industry still remain the greatest competitors. These include Blueseventy. Nike and Adidas are still a big challenge. As this marketing plan illustrates, the one way that will keep the competitors behind is good marketing of the brand name.

Analysis of the economic situation illustrates that the economic situation of the company is in good health even after experiencing hardships like all other corporations in 2009. Analysis of social, cultural, political, legal, and technological situation has been done. Another important analysis which has been done in the plan is SWOT. This analysis involves establishing the strengths and weaknesses of the company, identifying the opportunities open for the company and the threats facing it.

The critical issue facing the company has been identified as the competition from rival companies. The marketing objectives and the strategies put in place in order to achieve them have also been illustrated in the plan. The strategies have been categorized in terms of target markets, product strategies, pricing strategies, promotion strategies and distribution strategies. A recommendation for change has been given and implementation plan also laid down. On recommendations, the company plans to invest more in modern technology advertisement including posting ads on Facebook.

The company will also consider a little diversification in order to beat other players who have diversified to the swimwear business. Currently, the company is focusing its attention on health conscious water sportsmen and women in selected countries. Sponsorship of learning swimming and lifesaving programs is being given more emphasis, together

with provision of outfit for major water sport competitions. Introduction Speedo manufactures swimwear and accessories and is a leading seller of these items. With a long experience in this field, the company manufactures all ranges of swimwear for recreation and competition.

Products manufactured by Speedo are high quality and durable, the reason why the company has maintained its share of the market for such a long time. Use of state of the art technology and creating customer satisfaction has always been the company’s driving force, a fact that gives Speedo great advantage over other competitors. The company also sponsors learning swimming and lifesaving programs. Notably, the company provides gear for competitors in many major competitions.