Marketing Strategy (Group Paper) Product and Market For our project, we have thought of an innovative product that has the possibility to transform the current footwear industry. A product line of stylish sneakers that are affordable, durable, stylish, and are quick and easy to clean; perfect for the millennial generation (18-34 year olds) who are busy working full-time jobs, going to school, working out, and keeping up a social life with friends. We understand the needs of this market very well, as we are a part of it. Thus, we believe that we can offer a superior product that will be particularly appealing to our potential customers. Segmentation Scheme We have developed a segmentation scheme to “divide the total market into smaller …show more content…
Target Market Segmentation Our target market consists of customers between the ages of 18 and 34 with an income of less than $35,000 per year, who live an active and busy lifestyle. These individuals are always out and about whether they’re working out, shopping, going out for the evening, or going to work. A recent trend in fashion for this demographic is the pairing of sleek and neutral sneakers with a multitude of outfits. A durable, multi-functional sneaker could be very beneficial to many people in this group. According to Kotler and Armstrong, by focusing on a large share of one or a few smaller segments or niches, a company will be more likely to achieve a strong market position because of the greater knowledge of consumer needs as well as the special reputation it acquires. Hence, this market promises an abundance of opportunities and profit. The primary reason we’ve decided to target lower-middle class individuals in the millennial age range is due to the fact that we anticipate our consumers to be both quality driven and frugal. The shoe will provide benefits such as durability, style, and affordability to the consumers and will give them a great return on their investment. These shoes are made with the active millennial in mind. This generation of customers is also the first generation to grow up in the world of digital technology, as they are
Many of us are clueless on what goes on in the world. Rolling Stone magazine is a way for the younger generation to experience different styles. Whether it be from shoes, to music, to learning about young pop stars on the rise, the younger generation has a way of finding all the latest trends and ideas. The Britton Hill collection company is attempting to capitalize on the young audience of rolling stone to sell their product, particularly because most people in the world suffer from either uncomfortable stylish shoes or comfortable unstylish shoes. They grasp the idea of how a shoe can be more than just one thing. They can be comfortable, stylish, and able to withstand harsh conditions. The Britton Hill Collection did a wonderful job creating
To conduct this study on Nike I used a mix of primary sources, books, and websites that are all dedicated to Nike Brand’s past and present history. All of the sources I used have proven to be credible in the sneakerhead world and are sources that Nike will leak information to so they can publish it and make it known to everyone it may interest. Additionally, I used a connection I have with the District Loss Prevention Manager at Nike, Inc for the greater New York City Area to obtain an interview in order to gain insight into why Nike conducts limited releases the way they do. To protect his identity, for this paper I will be referring to him as “Bill Harris” as he provided me with insider information that is classified and
This project, focused on analyzing how likely would customers to buy the sneakers designed with five features. The five features are selected and voted by students who attended the project. There are 32 combined designs according to the five characteristics. The primary goals of the project are identifying the highest purchase intent of those designs and finding the interactions effects on the five features contributes to purchase intent.
The world of sneakers is way bigger that many people think. “Among just the three major players—Nike, Adidas and Under Armour—sales increased more that $25 billion in 2013, which represented a 47% jump from 2009”(Weinswig). This means It is not just about going to your nearest Foot Locker and choose
There is no doubt that the Jordan brand is the most popular fashion sneaker in the world due to its design and reputation. This is an emerging segment that is looking for sport looking fashion shoe. They only buy the products for its style, value of the money and brand image instead of its original function. Basketball shoes became a tool for social and self-identification from few decades ago, specifically Jordan brand made revolution on their main usage, and the all-time superstar Michael Jordan still making money after retired from the league. He earned $100 million from Nike last year, and it was higher than his entire career salary (Badenhausen par. 2). For this reason, people like to spend money to acquire new or old classic fashion shoes
there are more choices than ever before. Globe Shoes in Paramus, New Jersey, offers an amazing inventory of all types of footwear in their store, from sneakers to boots to slippers. Shopping outside the New Jersey area is also simple when you use Globe Shoes’ website to purchase a massive selection of footwear, and free shipping is offered on orders of $100 or more.
For decades, I’ve heard in the sports industry that 80% of athletic shoes are not worn for their intended purpose, but rather used as casual sportswear. Utilizing data from The NPD Group’s Consumer Tracking Service, I was able to test that theory. I’m pleased to tell you that the sports industry’s collective wisdom is pretty smart. Over the last few years in the U.S., according to The NPD Group’s Retail Tracking Service, sales of sport footwear now exceed those in the combined dress and casual categories, a point not lost on the fashion footwear market. This knowledge of end use will help brands and retailers make more strategic decisions about which products to focus on. Of the largest categories, running shoes have the highest intent to
Marketing is the process of selling of goods and services to the real customers. We conduct an assignment based on marketing orientation of Boots. The assignment consists of four parts. The first part discusses the basic concept and the method of marketing orientation of Boots. Then second part represents the various treatments of segmentation, positioning and targeting. The third part consists of the marketing mix and its basic components. And the last part discusses about the application of the elements of marketing mix in different situations.
Sneakerheads are passionate about sneakers and do many things that gained people into the sneaker world. In the text, the author wrote, “ They listen to online sneaker talks shows and use social media to share news about upcoming releases.” the author also told about the impact sneakerheads do by writing, “... sneakerheads attend large conventions. In 2006, a sneaker show in Jakarta, Indonesia, drew 13,000 people.” This shows what impact sneakerheads have and that they contribute quite a lot to the
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.
Coined the “Modern Girl of Sport and Fitness,” one of Nike’s increasingly profitable and rapidly growing consumer markets is young adult females who wish to be comfortable and fashionable at both the gym and in their daily lives. This consumer base has also been characterized by the term “athleisure” – a combination of an athletic look with a comfortable and fashionable feel. This market continues to grow, with approximately “46 percent of women between the ages of 19 and 34” becoming more interested in Athleisure wear (Business Insider, 2015). Nike has implemented a vast array of strategies in an effort to successfully appeal to and reach this target market, including live fitness programming across the world, retail spaces with fitness studios, female-specific marketing campaigns, and activations on college campuses throughout the country.
It is not that common when a business can employee more than 50,700 people in 160 countries, but anything is possible with the Adidas Company. This complex organization helps everyone find what he or she is looking for, whether they’re an athlete looking for the best equipment, or simply finding comfort with style, Adidas has no struggle helping their customers find what works best for them. The Adidas Group has innovation leaders who help all their customers with various skill levels become as successful as they can. This group of leaders is committed to giving creativity with affordable prices. According to the Adidas Company profile, the company has a plan to break records, make unforgettable history, and set the new trends. With the abundant amount of footwear, apparel and accessories, the
Mature marketing approaches bring companies considerable fortune, especially in such a competitive market. Therefore, marketing people play an essential role in planning, decision-making, market segmenting, targeting, pricing and positioning. In the following report, it will explore the marketing theory and practice of two products of two famous companies, the world’s largest sports goods company Nike and China’s popular sports brand Li-Ning. This report focuses on Nike’s basketball shoes and Li-Ning’s running shoes.
Nike, the world’s leading supplier of athletic shoes and apparel, was the birth-child of University of Oregon coach Bill Bowerman and runner Phil Knight. Founded in January 25, 1964 the company was originally named Blue Ribbon Sports and was a distributor for Japanese shoemaker Onitsuka Tiger. The company truly came from humble beginnings as Knight sold their products from his car during track meets.
As a newly hired consultant for Reebok Company, which is launching a new product ‘Taxa shoes’ for sale in the Asian market, I would recommend a number of factors to be considered in the development and marketing of this new shoe brand. The recommended factors are critical considering that markets, market dynamics, and market conditions change with time. New products should not only be developed in perspective of enlarging the company’s product lines, but also in perspective of allowing the product to penetrate in the target market. The