Today in Canada, inflation, cost of materials and unemployment are fairly low an

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Today in Canada, inflation, cost of materials and unemployment are fairly low and are not increasing. Emerging economies are growing more rapidly than the Canadian economy in general. Foreign trade is relatively open, so manufacturers face intense international and local competition, with pressure to keep prices low and opportunities to utilize low-cost labour and raw materials from around the world. New manufacturing technologies, futuristic materials, and e-commerce are becoming more prevalent and affordable. The political-legal climate is favourable to business in Canada and most developing nations, whereas regulation is higher in the European Union. The standard of living is stable, the population is aging, and ethnic diversity is increasing.

Today in the bicycle-manufacturing industry, manufacturers must invest heavily in research and development (R&D) to complete effectively on a global scale. Domestically, the bicycle manufacturing industry is fragmented, with the largest firm, BikePro, controlling just 24 percent of sales. The industry's customers are primarily local, independent bike retailers, a very fragmented group. The internet and eBay in particular, provides alternate channels for new and used bike sales. Bike riders, the ultimate purchasers, are interested in style, comfort, and high-tech features, as well as environmental and health issues. Suppliers of many bike components are small local manufacturers located in developing countries. However, few suppliers are more powerful, such as Humano, and internationally known maker of bicycle components and cycling gear. Regulators are not a significant force for bicycle manufacturer, but BikePro and others have numerous joint ventures. In one example, BikePro teamed with CSD, Shoetopia and other companies to produce the high performance cycle used by Olympic gold medalist Daniel Croft in the Tour de France and other races.

BikePro has excellent R&D capability and effectively utilizes low-cost manufacturers in producing the more affordable products in its broad line of bikes. However, its Halifax factory produces its high end lines and can customize a bike to a customer's exact specifications. BikePro is beginning to push to improve the customer bike-buying experience. The company will limit the number of retailers it uses and requires retailers to stock a higher percentage of BikePro's products. In returns, it will provide training and funds to improve in-store marketing and increase customer loyalty.

Question: Develop major strategies using the match between opportunities and weaknesses

Explanation / Answer

the heart of any business is customer loyalty- if you are able to capture it, you are going to be lead the market in future or if you fail in it, you are going to be exit from the market. Customer always focusing on two aspects, one what he is paying and second one is what he is receiving. Here Bikepro is appointing good number of retailers in the market to expand its market levels. By doing this, it is indirectly covered the market of Bicycles. Now the target and step is attractign more and more customers to visit the stores. For this they need to provide good marketing campaign and promotional tools. The target of promo is to run the customers to the retail store to trial run. Your offers may include:

Now the job is the retailers', they need to have good sales supportive team to explain the features, benefits and characteristics of these Bicycles than the competitors in all dimensions. I alreay said you that customer always check what he is paying- whether he gets the worth or value for this payment. Now, you need to retain the customers with you and extend the relationship with them. Generate leads from the existing customers and turn the leads into real sales.

Of course it may not be easy like words, but all the succesful people and firms were initially strugled alot. May BikePro face the same, they may strugle to attrac the customers, the competitors may offer variety of services than these, and so on, but inspite of all these, this firm has to go further then only get success.

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