Developing the Third Sector of HUMANeX Ventures : ATHLETex
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This paper focuses on a strategic marketing for ATHLETeX, a sector of a Kalamazoo-based human capital consulting firm, HUMANeX Ventures. The company has two other sectors, business and education, that have been around longer than ATHLETeX. ATHLETeX has experienced tremendous growth over the past year providing solutions to an increased number of collegiate and high school athletics. This strategic marketing plan focuses on ways that this growth can be sustained. A literature review opens this paper to examine five main areas associated with building a sector of a company: i) market segmentation, ii) brand equity/awareness, iii) differentiation and positioning, iv) outbound marketing, and v) inbound marketing. The literature review finds depth in exploring how brand equity can be built through a connection of market segmentation, differentiation, outbound marketing, and inbound marketing. Outbound marketing and inbound marketing are both marketing strategies that are new-age terms for push and pull marketing. Market segmentation, differentiation, and positioning are all foundational elements to building brand awareness through outbound and inbound marketing strategies. For almost any company today, both inbound and outbound marketing strategies are used to achieve desired results, such as revenue growth and increasing number of customers. A connection section comes after the literature review to provide context for key points presented by the literature review within the ATHLETeX division of HUMANeX Ventures. After the connection section, the application section is presented that includes all applied elements of the strategic marketing plan. The plan begins with an external analysis of the sports consulting industry. This includes market type and size as well as existing competition in the market place. An internal analysis of ATHELTeX follows the external analysis. Components of the internal analysis are as follows: unique selling point (USP), high-margin and low-margin products and services, SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis, and 4 P's (Product, Price, Place, Promotion). From there, market segmentation is explored as it applies to ATHLETeX. Finally, inbound and outbound marketing strategies are detailed, along with methods for building brand awareness leveraged from the education and business sectors of HUMANeX Ventures. An assessment plan provides goals for this strategic marketing plan. Current ATHLETeX staff members can perform all the elements of this plan. If this plan is implemented, it should be evaluated at one and two-year increments in accordance with the assessment plan.