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 demographics18-35 year olds

active

trendy [up to date on fashion]

non-commuters

live / work in town

target market

d-i-y-er’s / 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 cont’dviewed 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 surveyvery 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)

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 plannational 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 analysisit’s 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 audience’s 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