2. 2 Abraham
Executive Summary:
Skate Shield will be the leading inline skate accessory manufacturer for the inline skate industry. Art of
Balance has developed two innovative and practical skate accessories. Art of Balance is able to produce
products because the company is composed of skaters making products for skaters. Art of Balance will
quickly gain market penetration and establish them as an innovative inline skating product producer. Art
of Balance is located in Detroit, MI.
The Products:
Art of Balance currently has two unique products soon to be released. The first is Skate Sheild (ground) a
stand and bar mechanism that allows skaters to learn the art of skating without all the worries of
injuries and falls. Art of Balance second product is Skate Shield (ice), an innovative product just like its
first one but can work on ice. Not only has Art of Balance plan to release this innovative product, but
they are supporting and growing the sport of inline skating.
The Market:
Art of Balance will supply the rapidly growing inline skating market with useful accessories. Art of
Balance market can be broken down into five segments: recreational, fitness, speed, hockey, and
extreme skaters.
Management Team:
Key to Art of Balance success is the fact that the entire basis of the company is skaters, not only are the
products for skaters. Shannon Abraham, CEO, has 5 years of skating experience. He has been involved in
many science/design competitions over the past years. Smitha Abraham is the Web Master supporting
Art of Balance. Smitha’s amazing computer skills will support Art of
Objectives:
• To fulfil the after-market skate accessory demand with top quality products.
• To develop and manufacture Skate Sheild.
• To break even by the end of the first year in business.
• To encourage our customers to try and stick with skating, resulting in more fun and convenient for
them.
• To offer skaters support through our web page, such as visual instructional videos.
• To develop a solid market and to maximize our profit margin.
Mission:
Art of Balance is planning on fulfilling the need for after-market products, a market we have
identified, based on the large volume of skaters. Art of Balance will establish a service teaching
school for in-line skaters by providing pro skaters to help with understanding the product.
3. 3 Abraham
Our goal:
• Form a network of skating enthusiasts with an emphasis on health and fitness.
• To encourage Skate Shield as a new international product.
• To develop Skate Shield and other new products now on the drawing table.
Keys to Success:
• Developing quality in-line skating accessories through feedback from skaters.
• Develop a market for our unique skating accessories.
• Maximizing profits by selling through retailers and internet at full retail price.
• Developing a network with other businesses and experts.
4. 4 Abraham
Work Cited
"Sample Business Plans." FundingUniverse. Funding Universe, 2012. Web. 17 Apr. 2012.
<http://www.fundinguniverse.com/sample-business-plans/?plan=Roller Rink>.
"TheFinanceResource.com - Free Roller Skating Rink Business Plan." TheFinanceResource.com.
Finance Resource, 2012. Web. 17 Apr. 2012.
<http://www.thefinanceresource.com/free_business_plans/free_roller_skating_rink_busin
ess_ plan.aspx>.
6. 6 Abraham
Professor Fee
Intro to Marketing
05 April 2012
Marketing Plan: Attention Skaters
Marketing Objectives:
Art of Balance Technologies has identified its target market as children from ages 6 through 17, of
which showed 46% of skate owners being male and 54% being female. It also identified that 87% of
skate owners were Caucasian. With these data analysis, the market would either definitely or
possibly buy our product. Art of Balance is creating a one of a kind product which will enable people
trying to learn roller skating or ice skating without the worries of injury. Our product is designed to
help our consumers learn the art of skating, while worrying more about the art of balance and
movement, rather than falling. The organization aims on a ten year goal, reflecting the possibility of
other competitors trying to enter our market. At some point the organization would like to expand
into the international market.
Situational Analysis:
1.1 SWOT Analysis
Art of Balance is entering an industry as a sole producer of skate balance system. The key
strengths of our product are that it’s a self-teaching mechanism, easy to set up and use and the
one product itself can be used on both ground and ice. Skate Shield is a sole licensee of
intellectual property/ technology and an environmentally conscious product. Skate Shield come
with a five year warranty on product. Art of Balance market can be broken down into five
segments: recreational, fitness, speed, hockey, and extreme skaters which is always a plus. The
key threats are getting in terms of building great relationships with retailers and direct customers.
Skate Shield is reliant on perceived danger of injuries/ level of fear. Threats like competitors
entering out market after a few months of being in business. The huge threat would be of newer
models of our product coming out at cheaper prices.
1.2 Industry Analysis
As a wholesaler in the skating industry, the Art of Balance is being produced in an industry with 23
million visits per year from kids in grades fifth through seventh and 18 million visits annually by
kindergarteners through fourth graders for rollerblading. Reports revealed that over 2.5 million
individuals participate in roller hockey. (Roller Skating Association, 2007)
1.3 Company Brief
7. 7 Abraham
The structure of our company is a work in progress, due to the fact were still at the starting phase, all
the products are being built by hand in a garage. With the addition of a small workshop for
production of the product and as investments come in the future, the company will hire workers for
mass-production.
1.4 Customer Analysis
A study conducted by Sport/Recreation Equipment of 2010, showcased customers all over the United
States to determine their demographics.
• Gender – Male (46%) & Female (54%)
• Age – 6-24
• Race – Caucasian (87%), African American (5.4%), American Indian (1.7%), Asian (2.4%)
and Other (5.6%)
1.5 Opportunities
Once Art of Balance has grown in popularity, we can create the same product using different
materials like aluminum, steel, or plastic, which will lower price rates and allow the product to be
sold at a cheaper price. By decrease the price we will be attracting new customers who could not
afford the product before. Also, as times goes on we can go overseas and market our product. Street
skating has being becoming more popular in Barcelona, Spain and Europe. Skating is becoming more
popular in Europe with 13,888 people joining Broad Station skating in 2012. (Board Station, 2012)
Marketing Mix Strategy:
2.1 Product Line
Art of Balance has designed a product line that will create positive impressions in the market today.
All of our products will be readily available for all our consumers. We will have various designs that
are both unique for both male and females and make sure there eye-catching. The key to our product
line is having a product that is safe for everyone to use.
2.2 Packaging
Art of Balance will be selling its products in materials that are all recyclable. The package will be
classy but simple.
2.3 Pricing
Art of Balance is basing its pricing strategy of cost-plus pricing strategy. The price to own our
product will be $75. The price came from a development price of $60 per unit and a mark-up of 25%.
2.4 Place
8. 8 Abraham
Art of Balance Technologies will be acting as a distribution marketer to retail stores, initially all
over United States. These retail stores will consist of sporting shops which have been identified
in our demographic research and these will be distribution points for a wider region of locations.
Our intentions would be to expand distribution to every state within five years and overseas. Our
website will also allow for direct sales. The placement of the main warehouse is in Detroit, MI
which will allow distribution via land. The Skate Shield is relatively light and small that
transport will be easily contractible to either trailer truck or shipping branches like USPS, DHL,
FedEx, or UPS.
2.5 Promotion
The promotional plan by Art of Balance Technologies has two key objectives. Bring out a new
product acceptance and increasing sales for the company. Promotion of the Skate Shield will
mainly involve techniques like advertising in certain sport magazines, internet promotion and
television. Our focus on magazine advertisement reflects a growing of X-Games skating.
Combining this with internet advertising will reflect the increase in skating popularity. Based on
Facebook results from X-Games home page on Facebook “Fans:3021613 and
People talking about:29374” (socialbakers.com)
Implement and Control Plan:
The company’s promotion will include the following –
• Direct Mail to skating facilities to help spread our brand
• Paid spots articles and advertisements (print/TV) to create sales and awareness
• Placing ads on websites (ESPN, X-Games & NHL)
• Placing classified ads in newspapers
3.1 Quality Control
As this ongoing process for Art of Balance, to ensure Total Quality Management (TQM) is met
within the company. We will make sure to be in agreement with government regulations to meet all
requirements. Keep standards on our supplies, once a week trials of our product will be tested at our
workshop by 2 to 3 employees, to see accuracy of design and function. We will have research teams
documenting progress in orders to see improvements in quality and production.
9. 9 Abraham
Works Cited
"Consumers Seek Physical Thrills." Mintel.com.libproxy.temple.edu. Leisure Trends Group, 01
Mar. 2011. Web. 25 Feb. 2012.
<http://academic.mintel.com.libproxy.temple.edu/sinatra/oxygen_academic/search_result
s/show&/display/id=542915>.
Foster, Carl. "Inline Skating (Rollerblading) Resource Center -Research and Resources - Health
Benefits." Inline Skating (Rollerblading) Resource Center. Inline Skating Resource
Center, 01 Jan. 2006. Web. 29 Feb. 2012. <http://www.iisa.org/resources/health.htm>.
"Skateboard News, Reviews, Videos, Download, Link » Home » BoardStation.de."
Skateboard News, Reviews, Videos, Download, Link » Home » BoardStation.de. Broad
Station, 2012. Web. 19 Apr. 2012. <http://www.boardstation.de/index.html>.
"Sport/Recreation Equipment." Mriplusonline.com. GfK Mediamark Research & Intelligence, 24
Feb. 2012. Web. 24 Feb. 2012.
<http://ureporter.mriplusonline.com/selectdemofromsearch.asp>.
"X Games Facebook Statistics." Socialbakers.com. Social Bakers, 2012. Web. 19 Apr. 2012.
<http://www.socialbakers.com/facebook-pages/102055561963-x-games>.
