CHAPTER 3

3.0 MARKETING PLAN

Introduction

The marketing plan outlines the strategies that Pedal Paradise Rentals will

employ to promote its products and services, identify its target customers,

understand its competition, and effectively distribute its offerings. The key

features of this plan include customer classification, market share analysis,

competition assessment, promotional methods, pricing strategies, sales

tactics, and distribution strategies.

3.1 Customers
Pedal Paradise Rentals will serve a diverse customer base including

individuals, tourists, families, and local institutions. The classification of

customers will encompass leisure seekers, adventure enthusiasts, and eco-

conscious travelers. Demographic characteristics such as age, income level,

education, and recreational preferences will be considered in tailoring our

services to meet their specific needs.

3.2 Market Share

The target market population for Pedal Paradise Rentals is estimated at 500

individuals within a 5 square kilometer radius.

 Market Share

RideReady Adventures
30%

TrailBliss Bikes
45%

EcoMotion Bicycles
25%

3.3 Competition
Key competitors in the bicycle rental industry in our area include TrailBliss

Bikes, EcoMotion Bicycles, and RideReady Adventures. These businesses

are located in close proximity to our proposed location. While they vary in

size, we aim to differentiate ourselves through superior quality, well-

maintained bicycles, and exceptional customer service. We will capitalize

on their weaknesses, such as limited variety or maintenance issues, to gain

a competitive edge.

3.4 Methods of Promotion and Advertising

To create brand awareness and attract customers, we will utilize various

media channels including social media platforms, local advertising in

tourist guides, and partnerships with travel agencies. Our advertising efforts

will project Pedal Paradise Rentals as a reliable, eco-friendly, and

adventurous transportation option. The frequency of advertisements will be

regular, especially during peak tourist seasons. Costs for advertising will be

allocated as per the outlined budget. Effectiveness will be measured

through customer inquiries and rental reservations.