Marketing and Growth Strategy Proposal for a Bicycle Retail Business Assessment

Assessment

Activity 1

Aim and Objective

• To increase 50% of the business revenue by selling more bicycle to their customer as well as to their new customers first 4 months

The reason of this aim is because the owner in the business believes that the business has the potential to increases the business revenues, this aim is achievable the business already has good revenues, the reason we are aiming for 50% is can boost the business revenue within 4 weeks.

• Attract 70 new customers from the business promotion to their business in 4 months

This is one of the business main target, as the business wishes to attract new customer, the business is able to attract this aim they will be able to achieve other aims that is set for the business, this will help the business to increases its sales as this will help the business to increase the revenue as well as the profit of the business. This aim will be little difficult for the business as we are aiming for 70 new customer and not all customer will be aware or want to buy their product, there for this campaign is going to help the business to achieve this that why this be achieved within 4 months .

• Increase the business profit from their sales by 78% in 16 weeks

Increasing the business profit will help the business to spend their profit on other things, like buying raw materials for their product or getting new popular products like e-bikes, this will help the business to attract new customer, as this business is providing their customer with range of product. 75% increase in the business profit will take time as the business need to spend on the profit on other things which will stop then to achieve their aim, that is why we are aiming to achieve this in 16 weeks.

Size, Structure Trend and Target Market

The bicycle market has grown by 5% per year and there is further growth in the market, this means that the business has the potential to grow, as the increase in the market shows that there are customer that are buying bikes, showing that there is trend in the bicycle market, however because the percentage is increasing it means that there will be competition that the business will be facing, due to that the business target market is to target wide range of customer there for the business have wide range of bicycle available to their customer, this will help the business to stand out in order to attract the 70 new customer they need. There are many reason why there is growth in this market, their customer are realising the needs of this product, as using this bikes the customer are aiming at different things like getting beater in health and improving environment and getting to place quicker. The resent trend in the bicycle products are e-bikes this E-bikes are now outselling sold over 500,000 units in America in 2021 and are expected to gain 13% by the end of 202 the popularity of this shown that the customer likes tis product, this product is also unique from all bike even though it is a bike, the unique thing about this product is that the way it is function because the bike is electronic and the speed of the bike is average 20mph which is faster than regular bike and they tend to be safe then regular bikes .The bicycle shop can use this information to understand what the customer is looking for, this way they business is able to provide the best product and service to their customer, this well help the business to achieve the aims in this campaign.

Competition

There is high compaction in the bicycle market as the percentage of the market is increasing and it has already increased by 5% and it is estimated that there is around 25000 bikes shops around UK showing that all those business will be competing with the business.

One of The bicycle shop indirect competition is Decathlon UK, this business has around 2000 stores across 56 countries, showing that the business is expanded in other parts of the countries not only in UK. As also means that the business are popular with their customer as they are able to attract all the customer and their target market is aiming at wide customer, the business also provides wide range of products that comes with the best quality at the lowest price as possible, one of the business best-selling bikes Cube trace the business sells this product for £249.99. This is a problem for The bicycle shop as this just a medium size independent retail store that is only set up in UK this makes it hard for the business as there are not able to attract the customers they, need making it harder for the business to compete in the bicycle market as their don’t have wide range of customer able to access their business. However The bicycle shop provides the wide range of product their competitor dose, they also sell the popular product Cuda Trace and they sell it for “20.00 with wide range of colours, the bicycle shop will win their competition when it comes to the price of their product as its shown that their price is lower this will mean that the business will be able to attract the customers who wants to buy the product with the lowest price.

Brief Summary of Assessment Requirements

Assessment Activity 1 required the student to analyse a bicycle retail business and develop clear, measurable business and marketing objectives supported by market analysis and competitive evaluation. The key requirements of the assessment were:

• Setting SMART business aims and objectives, including revenue growth, customer acquisition, and profit increase within defined timeframes
• Justifying each objective with realistic reasoning based on business performance and market conditions
• Analysing the size, structure, trends, and target market of the bicycle industry
• Identifying market trends, such as the rise in e-bikes, and linking them to business opportunities
• Evaluating competition, including direct and indirect competitors, pricing strategies, and market positioning
• Demonstrating business awareness by linking analysis to how the business can achieve its stated aims

The assessment focused on strategic thinking, market understanding, and the ability to apply business concepts to a real-world retail context.

Academic Mentor’s Step-by-Step Approach

The academic mentor guided the student through the assessment in a structured and supportive step-by-step process to ensure clarity, relevance, and alignment with assessment criteria.

Step 1: Understanding the Business Context

The mentor first helped the student clearly understand the nature of the bicycle retail business, its current performance, and its growth potential. This ensured that all aims and analysis were grounded in a realistic business scenario.

Step 2: Defining Clear Aims and Objectives

The mentor guided the student in formulating measurable and time-bound objectives:

• Increasing revenue by 50% within four months
• Attracting 70 new customers through promotions
• Increasing profit by approximately 78% within 16 weeks

Each objective was reviewed to ensure it followed SMART principles and was supported with logical justification explaining why the goal was ambitious yet achievable.

Step 3: Justifying Objectives with Business Reasoning

The mentor encouraged the student to explain why each objective mattered. This included linking revenue growth to business confidence, customer acquisition to long-term sales growth, and profit increases to reinvestment opportunities such as stocking e-bikes and expanding product ranges.

Step 4: Market Size, Trends and Target Market Analysis

The mentor helped the student analyse industry data, focusing on:

• Annual market growth of 5%
• Rising consumer interest in health, sustainability, and efficient transport
• The growing popularity of e-bikes

The student was guided to connect these trends directly to customer needs and explain how targeting a wide market segment could help achieve business objectives.

Step 5: Competition Analysis

The mentor supported the student in identifying both market competition and indirect competitors such as large retailers. Particular attention was given to:

• Market saturation and competitive pressure
• Comparison with major competitors like Decathlon UK
• Pricing strategies and product differentiation

The student was guided to highlight how competitive pricing and product variety could help the business stand out despite being a smaller independent retailer.

Step 6: Linking Analysis to Business Outcomes

Finally, the mentor ensured the student consistently linked market trends and competitive insights back to the original aims, showing how informed decisions could help the business increase revenue, attract customers, and improve profitability.

Final Outcome and Learning Objectives Achieved

Outcome Achieved

• Clearly defined and justified business aims and objectives
• Strong market and trend analysis aligned with business strategy
• Practical competitive evaluation with real-world relevance
• Logical connection between analysis and business growth goals

Learning Objectives Covered

• Understanding of business and marketing strategy
• Application of SMART objectives in a commercial context
• Market and competitor analysis skills
• Strategic thinking and decision-making
• Ability to justify business recommendations using industry trends

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