Question 1: Aspen Market Analysis for RTC
RTC Skis are virtually unknown in the US, and at $2,000 or more per pair, are clearly a premium product. One central aspect of this project is how do you get the word out, in a concentrated period of time, to meet the goal to sell 1,000 pairs ($2 million) RTC Skis over a two/three-week period in Aspen?
As you have already learned, research, in order to get your marketing bearings and understand the “lay of the land”, is an essential part of the strategy development process.
By going through the process of selecting a pair of skis, you have gotten some insight into the Customer’s “typical” purchasing experience.
As the video demonstrates, RTC with five (5) basic models/sizes to choose from based on performance, not height and weight, is different.
The question then arises, what tools do you have available to engage the Aspen Market for a differentiated premium product that has limited to no brand identity in the US? especially when pairs to use for demos and to give away, and the budget is very limited.
For this assignment, research the Aspen market and find these tools that you can use to get the word out to build compressed awareness and drive traffic into a point-of-sale pop-up retail location for a limited time to try, buy, and hopefully refer others to the RTC, ultimate ski experience.
Tools to look at, as noted in the project slide include:
- Local Media of all types: 1. traditional (print, radio, tv), 2. online, 3. social, 4. mobile
- Influencers (to help drive word-of-mouth and traffic).
What influencers are available?, and how can you direct them to achieve our goals?
(incentives, messaging, etc)
- Potential Sponsors or Partners (Local)
– Non-profit Organizations
- Other Market-related Resources?
Remember I am looking for Market & Media Analysis (Aspen, CO) and do not expect nor wish a full Situation Analysis. What you find will be used to support the sales & promotion that you will use to develop the actual presentation.
I look forward to seeing what you come up with.
FYI. Here is the link to the Situation/Competitive Analysis worksheet that may give you some ideas.
Remember the Library!!!
For all intents and purposes, RTC is an unknown brand in the US. This means that creating awareness and media exposure to help drive demand and “get the word out” in the Aspen market (for a compressed, limited time only) are critical components of your strategy.
Social Media and the like are useful, especially in a “message amplification” role. However, I will argue that there is really not enough of a community in place to rely on these channels alone, so one element may be to also build a viable community.