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The aim is to investigate if the Colorado Peace Ride will contain a minimum of five hundred cyclists in order to partake in a 4 day tour. Due to the fact that this happens to be an activity built for raising funds, the cyclists would contribute money to partake in this specific competition. However, what we need to find out is what is the amount that is needed so that we can have the maximum amount of cyclists join as well as potentially participate every year as the Colorado Peace Ride tends to grow and establish into one of the main fundraisers.
Secondly, this company should choose the market that it’s targeting. That can be in terms of females, males, professionals or amateurs etc. A list of potential participants can be found out by doing market research as well.
The primary as well as the secondary information will be used due to the fact that the interests of the cyclists themselves are significant as well as their availability.
This can be utilized in order to discover what attracts certain bikers to partake in different types of bike tours. We can ask questions such as what the merits of the specific bike tour is which entices cyclists to keep returning? As well as this, we can ask what makes them different in comparison to other activities that may not have done so well? These important questions can be looked at through utilizing secondary information—since this is easy to gather and compare.
Firstly, I will take a look at different news reports as well as articles regarding bicycle tours in relation to fundraising. It’s important to closely look at what enticed the bikers to come back.
However important secondary information is, primary information also needs to be used. I would start by contacting large biking companies. From here, I would then create a specific questionnaire that prompts potential cyclists to answer what they want from a cycling tour. These could include variables such as potential course difficulty, how competitive it is, willingness to pay a fee, and how large the event itself is. Since everyone differs in their opinions, it is significant to find a group of people has a majority with almost the same thoughts and ideas. As both quantitative & qualitative research will be used as described, their significance is equal.
The analysis of the survey depicts that most of the people tend to be relatively highly-educated males who are in their forties and fifties. These tend to be people who are doing well financially and have previously completed at least 1 bicycle tour. It seems that the cyclists who partake in the event almost every year are the ones that contribute to the organization the most. Furthermore, the individuals who gave less than one thousand dollars tended to want less challenging tours than those who contributed more than one thousand dollars. There is a company called Bike MS that bicycle tour events in every state of America with different difficulties, They also offer things such as training, instruction on safety.
When taking a look at the analysis of the survey, it seems to be that the target market is already decided; male cyclists in their forties and fifties who have already had cycling experience. Secondly, there also tends to be more people who are more stable in terms of finances than others. Due to the fact that Colorado Peace Ride is a 4 day, bike tour, amateur cyclists may be intimidated. The company Bike MS is a good idea and potential model to take a look at. It is important to focus on one group, however, it’s still significant to do different things to keep others coming such as offering different levels of difficulty like Bike MS and training sessions.
Looking at different aspects in preparing for Colorado Peace Ride, I would want to recommend couple things for Isabelle Stone. First, it is a good idea to look for a sponsor, especially since she has a low budget. For example, bike companies can sponsor the event in exchange of putting the company’s name on the number tag on top of each cyclist’s uniform; energy drink companies such as Gatorade can provide beverages in the hope of advertising their product to cyclists, who can be or already are major customers. Second, in order to have as many cyclists close to her goal of 500 cyclists, it may be a better idea to have different types of competition, separating the difficulty into Easy, Moderate, and Challenging and may want to consider decrease the days of competition from 4 days to maybe 2 or 3 days for Easy and Moderate levels.
However, it must be stressed that the “main event” of the competition should be the Challenging level as it involves the majority group of established male cyclists. Instead of setting the contribution for $500, I think it is better to lower it down to maybe $250 for lower levels and increase it to $750 for Challenging because the statistics showed that relatively novice cyclists preferred to contribute less than experienced cyclists. This way, although Isabelle may fail to have 500 experienced cyclists to participate in Challenging course, she may be able to cover for the shortage on the other two levels.
Lastly, it is a good idea to heavily promote the purpose of contributions from cyclists, which is to provide a place of serenity to groups of peace workers, enabling them to renew their energy and passion to continue their positive work in the world. This way, cyclists feel secured as they know where their money is going to and will be spent for good cause. There are obstacles that could make cyclists to be hesitant about participating, though. For example, since this is a first ever Colorado Peace Ride, potential riders may not yet feel comfortable because they might think safety of cyclists is not secured or the money will be scammed by unwanted trickery. However, getting authorized sponsors and advertising heavily about the usage of funds will prevent these suspicions.
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