Marketing Objectives: Based on your understanding of this section, articulate what was useful in this section for FreeRiders, what was absent that could have been helpful from a strategic marketing point-of-view and rationale as to why for each

IV. MARKETING OBJECTIVES

FreeRiders primary goal is to introduce a product appealing to a younger and broader consumer base. Research has shown the brand to be desirable to a younger, predominantly male-identifying audience. The largest barriers to enter this market are price and distribution. It would be counterproductive and seriously damaging to the brand to introduce a product that compromises FreeRiders core values of quality, performance and ethical business practices. As such, FreeRiders must push its designers and supply chain to create an affordable bicycle consistent with the brands values.

In the past 9 months, FreeRiders primary competitor, VMS, has introduced three new bicycles priced far below any of FreeRiders current offerings. While the FreeRiders product line remains at the top of the consumers list for quality and desirability, the competitors lower prices and extravagant marketing campaigns pose a serious threat to the company. FreeRiders must come to market with a competitively priced mountain bike within the next four to six months to prevent VMS from becoming entrenched in this valuable demographic. On top of it all, VMS has also launched an ebike model with an MSRP of 1,850, a very competitive market price. FreeRiders small size and agility pose no barriers with regard to speed to market; however, measures must be taken when cutting manufacturing costs to produce the lower-priced bike. By strategically offshoring the production of some non-structural components, scaling back some aesthetic features, such as paint, graphics and custom accessories, FreeRiders will be able to release this new product within the six to nine-month window. No current plan has been created though there is high stakeholder interest and pressure to compete in the ebike space.

For the initial release of the product, FreeRiders will participate in local events throughout the US and Canada to raise awareness of this new bike. A key component to this local strategy will be a design contest aimed at creating a personal relationship between FreeRiders and its new consumers. Consumers will be given an opportunity to name and design the logo for this new bike through a giveaway that will take place on social media. To encourage this new targets loyalty to FreeRiders existing retail partners, a FreeRide program will be offered to each bike shop. The shops will be provided advertising materials and a FreeRiders representative to customize the event to their demographic. Shops will receive between five and fifty of the new bikes for their customers to try. Customers will be given an opportunity to provide feedback and ideas for future line extensions as well to promote a by us, for us community. Concurrent with the FreeRide events, a contest to name this new bike will be held. The winner of the contest will not only have their design on the new bike, but will receive five free bicycles to pass along to friends as well as an opportunity to participate in promotional events for the new product. All of this information will be shared via company social media accounts, including stories and live streams of the events. The newly named bike will be released within two months of the unnamed First Edition bike.

It will be important for FreeRiders to fully disclose that this new product will not be entirely made from US-sourced parts. Part of the awareness program will feature and informational booklet about where and how the new bike is produced as well as links to other like-minded companies appealing to this market. Potential co-branding opportunities exist with companies such as Simple shoes, Kodak, Timberland, Green Mountain Coffee and Method.

Additional promotions and events will run concurrent with the FreeRide campaign aimed at preserving the current relationship the company has with its Baby-Boomer premium bicycle market. These events will heavily reinforce the companys message of Made in the USA, performance, quality and environmental responsibility. A customer loyalty card program will also be introduced to customers who purchase the premium bikes. This loyalty program will offer special pricing, invitation-only events and pre-sales of new products.