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Casuals by Steve Madden - summary - Essay Example

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Summary Brief Product Description “Casuals” by Steve Madden is a brand that pays great emphasis to the elegant stylish look coupled with comfort. This is because of the fact that the heel is an elegant heel when it needs to be but it can be converted into a foldable flat when the comfort is needed…
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Casuals by Steve Madden - summary
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Download file to see previous pages This is one of the reasons as to why casuals came into the market. They ensure that the heel is folded into a flat when it is not needed (Simmons 1). SWOT Analysis The product has concentrated on several factors that have ensured it has actively and wholly penetrated the market. It has paid heed to its strengths in the fashion industry. The strengths include focus oriented approach for the customers, community and their employees. In relation to their employees, the company has ensured that they have the space to conduct their activities in the company. This ensures that they come with new strategies for the company, ensuring maximized profits (Simmons 1). They give back to the community as part of their corporate social responsibility and this augurs well with the community that surrounds them. As for their clients, they have created this classic yet comfortable lifestyle that many ladies have craved for in the fashion industry. The aspect of versatility and convenience is an added advantage as the shoe can be used for any occasion. This has led to the fact that many clients are aware of the shoes existence and they love it. One of the major weaknesses noted lies on the limited style ranges of the shoe. This is because of the limited capacity to incorporate different shoe ranges into the specific design in question. Another weakness is pegged on the fact that issues of access are limited to retail and online stores. This reduces the stores general revenue collected. The opportunities for the product lie in the broad market segment that is targeted by the product. The population of women who are looking for elegant style and comfort provide a wide array of potential consumers. The fact that the convertible shoe is new in the fashion industry creates the platform that many consumers will want to sample the new product in the fashion line. The innovation is threatened by competitors from other shoe companies. The companies are either adopting the same strategy or incorporating certain aspects and features that are giving the company a run for its money. The fashion industry is a very unpredictable industry (Kotler 12). The issue of economic and fashion trends are constantly hampering the way that the company plans to meet its set goals and objectives. These are the two threats to the creative innovation of elegant but stylish shoes that have been brought into the market. Segmentation, Targeting and Positioning The product has segmented the market based on the concentrated marketing strategy. This is the strategy that ensures that each and every aspect of the market is segmented and dealt with. It has concentrated on women and their willingness to spend to access the product. This is based on demographic segmentation. The market has also segmented based on the ability to arouse the risk taking nature of many in the fashion industry. This forms the psychographic aspect of independent women who love to take risks at each and every point. The benefit oriented segmentation approach is based on the women who know the benefits of wearing a heel at the right time and getting comfortable when they need to. This is without the excess baggage of carrying an additional pair of shoes. This segmentation works hand in hand with the geo demographic segmentation. This is the specific one that targets the specific women who are in the profile areas. They include the women in ...Download file to see next pagesRead More
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