For an extended period of time shoes have been an integral part of the modern consumer’s life. According to the vast majority of fashionably inclined individuals, shoes can either make or break a person’s entire appearance, which explains why people invest their hard earned coins into comfortable abodes for their feet. Particularly, the annual budget consumers spend on shoes in the United States is $20 billion dollars, and $6.46 billion dollars stem from running shoes alone. This is what initially piqued my interest and compelled me to interview a manager from one of most popular shoe stores known as Footlocker. As a side note, the interviewee was only willing to share the information because he is no longer an employee of the company. Nevertheless, my analysis expounds upon topics in accordance with Footlocker’s employees and customers.
To gain a better understanding of the customer’s wants and needs, Footlocker’s primary focus entails paying attention to trends and patterns in the marketplace. This allows the organization to better serve the consumer, considering that a customer’s preference resides on a continuum. In other words, if companies fail to keep up with trends, maintaining a competitive advantage will be unrealistic, and therefore result in irrelevancy for the company. In addition to identifying market trends, Footlocker acquires more insight into customer demands through sales, according to the interviewee. For example, managers and sales associates
Based on The Running Room’s current situation, Cisco considers a number of alternatives to her present marketing strategy. On one hand, she could continue to maintain a broad target market to appeal to both casual athletes--with more fashion-conscious products that aren’t necessarily running shoes--and serious runners, while attempting to tap into the growing market for women’s athletic shoes with expanded product lines for female athletes. This strategy would help her maintain her aging loyal customers, as she could offer athletic shoes that reflect the new exercise programs that they are becoming involved in instead of running. Conversely, she could narrow her target market to just serious runners, by investing in the high-end molded running shoes and the additional training and promotion that would be required to sell them. An analysis of The Running Room’s strengths and weaknesses can help her determine that the second strategy is the most worthwhile to pursue moving forward. As a former nationally-ranked runner herself, and with both a proven track record for catering to serious runners (who make up a majority of her sales) as well as the flexibility to switch product lines fairly easily, Cisco’s business strengths would support a shift to a more serious runner target market with relative
sale of Nike’s high-margin products to high-end customers. Regardless of the low cost of the World Shoes, they
Nike is one of the biggest footwear and apparel manufacturing companies in the word. The company came into existence in 1964 by Bill Boweman and Phil Knight and named it as the Blue Ribbon Sports. The company changed the name to Nike, which is Greek word meaning victory, in 1972 after producing a good brand of shoes that became popular among the athletes (NIKE, Inc., 2001). Since then, the company has been successful, dominating the world market of athletic shoes. The company’s products are sold in more than 170 countries across the world. The company also sponsors various sports events at national and international levels. The company slogan “just do it” is catchy and attract many people tom
Sportsman Shoes has been a leader in the shoe industry for more than thirty years. Sportsman manufactures and sells athletic shoes for all types of sports. The company has pursued a low-cost strategy in order to sustain their success. They sell a limited number of shoe designs and have held costs low through manufacturing efficiency and standardized operations. However, the past five years have been a struggle at Sportsman. The shoe market has seen a rise in the availability of low-cost imported shoes that has threatened Sportsman’s competitive position. As a result, company executives have decided it is time for a strategy shift.
Obviously, there is a big number of driving forces in the athletic footwear industry. Each of these driving forces has different impacts—some of them can have a more considerable effect than others on figuring out how much cross-company differences influence market shares and a number of units sold. The first line of most influential factors includes comparative prices, S/Q ratings, and a number of models offered among the footwear competitors. These three most important competitive forces affect customer decisions of which athletic footwear brand to choose. Furthermore, the decisions of customers whether to purchase one brand or another are also influenced by such forces as advertising, celebrity endorsements, the number of independent retail
Nyke Shoe Company has been in business for over 50 years. Over the last five years, the company has been undergoing some financial hardship due to an erratic market and an inability to understand what the consumer actually needs. In a last ditch effort to avoid bankruptcy, they have adopted a new business model which entails the development of only one shoe size. In order to achieve this goal, statistical data must be utilized and applied to make the best choice. The data used will be explained to the fullest and a conclusion will be then obtained.
- to be able to understand the market potential of LFL shoes in partnership of Reebok
Throughout the essay hyperboles are used for exaggeration to make fun of how consumers pull in their customers. One of the inventors of the shoe insert calls the insert a, "a total foot rejuvenation system." The exaggeration put on the insert clearly shows how the author is ridiculing advertisers for their fake propaganda. The statements in the essay confirm that consumers
Customers make purchasing decisions based on the information they have among products and the values of goods a company offers. For that reason, companies have to promote their products to increase products awareness. In order to achieve organizational goals, companies must understand the market’s needs to ensure the success of their businesses. Such information can be gained through research. The industry that will form the basis of this paper is Western Canadian Shoe Association. The three brands under study are Reebok, Adidas, and Nike.
In analyzing the market/industry, the company was able to see some things that helped shape their plan. The first was rivalry among competing sellers. Our analyses indicated that there were 9 companies in the shoe industry that Competitive Shoes considered rivals. These companies were relatively new in the industry and produced the same types of shoes as Competitive Shoes. Due to this fact, they knew that the rivalry would be fierce since Competitive Shoes was going to produce a product that was like theirs, and the difference between the products would diminish as the products of industry rivals became strongly differentiated. This indicated to Competitive Shoes that brand loyalty would be minimal and buyers could easily switch brands at will. Competitive Shoes felt that they could produce the same quality shoes as the high-end producers, while at the same time lowering its production cost and offering the product at a lower price. This would make it easy for buyers to switch brands at will.
“Stride Rite strengthened its consumer appeal in 1987 by contemporizing the company’s image and moved to a brand design that features bright colors and geometric shapes” (Corp S. R., 2017). “But just as Stride Rite is more than baby shoes, Stride Rite’s reputation includes more than numbers and market share. For many years, the company has been widely regarded as one of the most responsible employers and corporate citizens in the United States” (Stone, 1992).
Our primary focus for Payless ShoeSource is to improve its promotion of men’s formal footwear segment. Payless has done a fantastic job of this with women’s footwear. We know that there is significant room for growth in men’s formal footwear and believe that Payless can tap into this market. As for the athletic shoe market; customers in this area tend to be more loyal to their leisure shoes like Nike, Adidas, and Under Armour. However, young males are less inflexible with their formal footwear. And not only is it necessary for young adults to own at least a pair of dress shoes, but for young boys as well. Payless ShoeSource has a large market opportunity in male’s formal footwear. It includes children, college students, and young professionals.
The athletic shoe industry will be first analyzed by the Porter’s Five Forces framework. The well-known Porter’s Five Forces is a model that analyzes an industry and helps firms develop a business strategy. The five forces model focuses on six forces that will determine the attractiveness of this industry: (1) the risk of entry by potential competitors, (2) the intensity of rivalry among established companies within an industry, (3) the bargaining power of buyers, (4) the bargaining power of suppliers, (5) the closeness of substitutes to an industry 's products, and (6) the power of complement providers (Hill, Jones, & Schilling, 2015).
Market analysis C & J Clarks LtdCONTENTSEXECUTIVE SUMMARY1.INTRODUCTION2.COMPANY HISTORY AND PROFILE2.1C&J Clark2.2History2.3Manufacturing2.4Range of Shoes2.5 K Shoes3.MARKET ANALYSISA. MICRO ENVIRONMENT3.1 Market Data3.2Competition3.3Consumer demandB. MACRO ENVIRONMENT3.4Political3.5Social3.6Technological3.7Economic4.SWOT ANALYSIS5.IDENTIFICATIONS OF STRATEGIC ALTERNATIVES6.RECOMMENDATIONS6.1Short Term6.2Medium Term6.3Long TermEXECUTIVE SUMMARYI have been asked by C & J Clark Limited (Clarks) to prepare a report which would include a market analysis of the UK footwear industry and to propose a number of strategic recommendations which would ensure that Clarks secures its short, medium and long term future as the market leader in the shoe
The report is about Nike, regarding the case study. The report elaborates on the aspects including buyer behaviour, brand image, consumer decision making, and marketing research techniques applicable to Nike. 3.0 Introduction Nike is the worlds number one sports shoe company. In the US Nike dominates 35% (source: see appendices) of the sports shoe market and its products are sold in more than 140