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Lecture

Lecture

2 Pages
114 Views
Summer 2011

Department
Marketing
Course Code
MKT 100
Professor
Chris Gibbs

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Marketing and Financial Issues
The electronic bike market has some flaws and that being that most sales of the e-bikes
are in Europe and China, where about 90% of the sales take place, and leaving the other 10 in
North America and other places. This is a big problem because this shows us that the North
American market isnt an easy one to sell to and you have to work really hard to get their
attention and interest in your product. If the selling trend stays like this, both companies,
Daymak and Magna will not have many profits and will be faced with more expenses than
revenue and will probably run out of business. I believe these marketing issues are taking place
because of the lack of advertising in North America as many ads have not been presented to the
consumers about the product and they are not aware of its benefits and what it is able to do for
us.
Marketing the product in a big country can be hard because of the different ways a
company has to market them in dif ferent provinces and ter r itories, and deep research has to be
done for that. Marketers of the e-bikes and electrification kits have to find out all the possible
ways to market to different segments of this country and get their consumers more awareness of
their product. Different types of ads and commercials have to be places in the developed and
more modernized mul ticultural cities than the country side areas, such as New Brunswick and
the other Maritime Provinces.
Finances are a big problem because of the hiked pr ices the electronic bikes and
electrifications kits sell for. Many people will find these large pr ices hard to pay for because of
other expenses getting in the way and just not having enough to put towards a bike, as well
largely because of the recession, consumers are more cost cautious. The pr ices of the e-bike and
electrification kit have to be set to be more affordable for the consumer but the companies are not
able to do this because the products are quite expensive to make, so if they sell for a low price
they wont be looking at a great profit. What these companies are trying to do is sell to the
average income people who can put money towards this product and sell a lot more to the high
income people.
Along with the high income people, I believe the retired seniors segment of the
population is the one that is mainly targeted because they can put forth money from their monthly
pension money and buy an electronic bike to get them to places like the community centre or the
mall. The Daymak Company has the highest potential of the two to be successful because their
e-bikes are less expensive than the electrification kit and the company shows they should be
making profit as the years go ahead and not loss for long number of years like the Magna
Company is projected to do. The Daymak product is more affordable and more attractive
because it comes as a whole and people dont have to go through the hassle of ass embling their
own electrification kit on to their old bike which may not be up to standards for a good ride on an
electrical bike.
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Description
Marketing and Financial Issues The electronic bike market has some flaws and that being that most sales of the e-bikes are in Europe and China, where about 90% of the sales take place, and leaving the other 10 in North America and other places. This is a big problem because this shows us that the North American market isnt an easy one to sell to and you have to work really hard to get their attention and interest in your product. If the selling trend stays like this, both companies, Daymak and Magna will not have many profits and will be faced with more expenses than revenue and will probably run out of business. I believe these marketing issues are taking place because of the lack of advertising in North America as many ads have not been presented to the consumers about the product and they are not aware of its benefits and what it is able to do for us. Marketing the product in a big country can be hard because of the different ways a company has to market them in different provinces and territories, and deep research has to be done for that. Marketers of the e-bikes and electrification kits have to find out all the possible ways to market to different segments of this country and get their consumers more awareness of their product. Different types of ads and commercials have to be places in the developed and more modernized multicultural cities than the country side areas, such as New Brunswick and the other Maritime Provinces. Finances are a big problem because of the hiked prices the electronic bikes and electrifications kits
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