August 4th, 2014
Artemis Sportswear Proposal
Artemis Sportswear is a non-profit company, specializing in the creation, marketing and production of sporting goods and apparel, the company also offers its own line of Wines. Artemis donates and raises money for charities and organizations with the help of some hockey legends, such as Jason Zent. Although Artemis is a non-profit company, this does not mean that they would not benefit from both cost reduction and increase in profits. Artemis offers a host of services to clients from guidance with product creation all the way to the marketing and sales of the products. They have many opportunities within their company to increase their profits; from individual sections within their business to changing their overall approach to the running of the business.
One way Artemis Sportswear can increase profit margins by creating a marketing plan, which will help focus marketing efforts and gives the company the best returns. Taking the time to put together a well-written marketing plan will make Artemis Sportswear more likely to achieve their marketing goals. In order to improve overall profit margins, the company must tailor their offers to the consumer's needs so they can provide them with a worthwhile product. Focusing their marketing strategy towards the market instead of the product allows Artemis to gain new consumers and strengthens their profit. In today’s market, it is imperative that every business have an online presence regardless of whether or not they have an online store. Today, many consumers use the internet to research and purchase products. Consumers also use social media to spread awareness about products and companies, there are over 955 million Facebook accounts (Kumar & Mirchandani, 2012), and new social media sites are cropping up constantly. Launching an online presence is a low cost and easy way to boost sales by promotion products through their social media pages, as well as by word of mouth. Connecting with their clients, as well as their client's customers will give Artemis substantial insight on trends and what is really needed within the market as well as possible high-profit micro-niches. Allowing Artemis, and their clients to tap into their consumer market and target consumers. This insight will help give the company a competitive marketing plan, which will increase profits, through a low-cost method of advertising.
Besides utilizing the internet and social media, the company can become active in their business community. By joining the Chamber of Commerce or your local Business Alliance, Artemis Sportswear will have many different opportunities to network and expand their clientele. Highly proactive networking leads to strong connections (O'Donnell, 2004) within the community and those that Artemis reaches out to. This opportunity to make strong connections within the community offers up one of the most valuable and, moreover, free forms of marketing: word of mouth, which human nature has proven to be a valuable asset (Tschohl, 2003) in the creation of new customers. Not only does networking with other companies help Artemis financially, it also helps them gain information about key contacts that can help to increase profit margins, current market trends, and other important information that is critical for the growth and development of the company.
Establishing and managing an online presence does not require much labor and increases worker productivity by allowing more time to focus on other tasks, as most social networking can be done “on-the-go”. The staff in charge of running the company website and social media sites would be responsible for updating and uploading information, products, customer service and more. These tasks require employees comfortable with technology and social networking sites as a whole. In order to have employees who are great for this task they must be friendly, professional,