Speedo innovation essay

This paper contains the Speedo UK three year marketing plan. The key objective of the marketing plan is to assist Speedo to acquire a 50% market share in the UK leisure and beachwear market, and at the same time maintain its 60% market share in the professional swim apparel.

Speedo’s strong presence in the internet can be instrumental in reaching out to customers in areas where the company’s products are not distributed. The sponsorship deal between Speedo and the British Swimming Association can be useful in promoting the company’s brand to the British public.

SWOT analysis is important in developing the marketing plan for Speedo since the main strengths and weaknesses of the company will be determined. In addition to this, the SWOT analysis will assist in establishing the potential threats and opportunities which Speedo is likely to face in the future.

Speedo’s existence will be threatened in the event that its competitors develop innovative swimwear which can prove their performance in swimming races. Speedo’s products sell at higher prices compared to products by its rival companies which are almost identical. Its rival companies include Mizuno, Adidas, and Nike.