Sales Objectives
- Our sales growth is expected to grow 10% through the next annual report. We expect a poor first quarter to account for the introductory period, but a strong remainder of the year.
- We plan on creating more repeat customers through the Nike+ Rewards Program.Customers can expect to come back if they are being rewarded.
- We will use Up-Sell strategies to suggest Nike Fuel+, or Rewards card at every purchase to generate consumer interest, and boost sales rapidly.
- Sales Goal: 9,090,000 bars sold at $25,000,000 gross profit by end of the first fiscal year.
- Since we're entering a market already well established we will push sales through + points program. In this program any Nike+ gear gives you points you can use towards purchasing our Fuel+ bars for an extra discount. We will also offer less expensive, alternative Fuel+ bars for consumers looking for fuel at a value.
Profit Objectives
It is expected in 2016 to have estimated energy bars sales of three billion in the United States. In order to contribute to this profit goal Fuel+ bars will be using two strategies.
- Profit Maximization
- Value Based Pricing
Consumer Objectives
- According to studies 42% of Americans have an "almost" healthy diet. This gives Nike's new Fuel+ bars room to expand within the market. Fuel+ bars will be directed towards high performance athletes who exercise on a daily bases.
- These athletes believe in a 40/30/30 philosophy meaning that Fuel+ bars will make up 40% carbohydrates, 30% protein, and 30% fat.
- We will ease into this market by using high profile athletes for advertisements, showing consumers that only the best uses Fuel+ bars. In this specific market we will focus on stressing how the energy bars are easy to digest and will not leave you feeling sluggish.
For the health conscience groups we will stress the fact of using natural and organic materials. Currently this consumer demographic is expanding widely in society. They may not be focused on getting in shape, but more so just getting correctly. Then for the on-the-go individuals we will offer the convenience aspect, we will break into this segment by use of the "Plus Points" system and QR codes. In hopes that the amount of discount returns will appeal to the consumer.
In order to boost the Fuel+ bars into the market for consumers much focus will be placed on association and cognition advertisement. Association with the brand loyalty within Nike and cognition meaning to educate consumers on the new product line.
