Unit 5 Written Assignment Marketing Management University of the People Instructor: Dr. Janie Hall. 3/05/2024 As a sales consultant for XYZ Tech Solutions, a local IT company catering to small and medium-sized businesses (SMBs), I will look into the company's background, major markets, and the compelling benefits of marketing its products and services. Additionally, I will outline the company's marketing strategy and recommend product-pricing strategies to maximize short and long-term profits. Analysis for Local Company: XYZ Tech Solutions. Background: The 'St
Over the past years, Foot Locker's brand has become one of the most popular names in its apparel and footwear industry. The company has already utilized this strength by leverage its strong brand, unlike its competitor Finish Line. The company has many subsidiary companies where consumers can purchase products. Foot Locker will continue to leverage this strong brand as it expands both internationally and domestically (Annual Report, 2013). Foot Locker stock price is $53.86 which is higher than its competitor Finish Line that has $23.35 (Yahoo Finance).With this in mind the company offers the latest athletic -inspired performance
Quality assurance: The quality of your product is an essential part of your corporate strategy, the prime objective of being customer satisfaction. Quality means providing product and services that offer maximum benefits to the customers. As an original quality product, you need to strive for fulfilling the customer customer's quality requirements, enhance customer requirements, and continuously improve performance. Guarantees ; It is important to know that customer know exactly what customer expect from us as guarantees strives higher level of customer satisfaction . you need to offer competitive prices for the products so that the customer feel free to buy your products.
Slide 1- AACMES has five competitors in the footwear industry. Eshiney Shoes is one of them. This bar graph represents company’s regional average in internet market share. Eshiny Shoes has a significant market share in the internet market segment. They are the second market leader behind the Fashionable Laces.
It is an approach that gives more value to the customers by satisfying their expectations on key quality/service/features/performance attributes while exceed their price expectations by providing at low costs. Companies that offer products/services relatively at low prices and offer substantial differentiation on
The 4 main elements of AACE Quality Shoes’ marketing strategy are free shipping, S/Q, the use of advertising, and the use of the competitive pricing. Retail Price: We has setting our prices lower than our competitor in every region without affecting our style quality rating. For example, in year 14, our prices were $12 lower than our rival’s prices. Free Shipping: It has been a competitive key to increase our online sales.
The road to becoming a legitimate competitor has been tough, specifically because of the competitive nature that exists between firms in the same market. The market structure, determinants of supply and demand, and future outlook of the company can help us see the state and performance of Under Armour. Under Armour’s is an example of a monopolistic competition, meaning they have aspects of a perfect competition market structure, but their products are not the same as its competitors. As mentioned above, Under Armour’s main competition is both Nike and Adidas. Recently, Adidas has
A high demand has surrounded the sneaker world and is making it an obvious investment. Sneaker companies have arose in America and are changing the the way America buys. Sole supremacy, R.I.F L.A., Flight club, these companies are capitalizing on the high demand for sneakers and are successful in doing so. Flight club is one of the biggest sneaker resellers in America. Basically, Flight Club buys limited sneakers that are impossible to get for a retail price, then resell the shoes for and impressive profit.
Due to internal reverse factor in the market is not growing so are the negative side. the internal factor is not in favor of the company due to fashion and change. Funding is also a major problem. Despite this talk about the external factor and here we can see that there are many competitors in the market otherwise. Example puma sneakers launch.
Starting as just a mail-order business with some retailers, it quickly opened new manufacturing facilities, starting with New England in the early 1980s as well as it signed contracts with other international distributors. While producing at lower costs outside the US, New Balance sold its shoes at a higher price than the average market and started to have huge sales anyways. Moreover, what makes New Balance’s operation strategy unique is that they offer their shoes in multiple widths and always have inventory in case the retailers get out of stock. This supports directly two of New Balance’s main competitive objectives being first that they want their customers to feel uniquely served by offering several widths of their shoes for different kind of feet and letting the customer not wait for the delivery of the shoes but always having inventory to push into the retail stores in case of scarcity. A good customer experience is one of their key competitive
NIKE The Factors that Led to Success and Failure of Nike in its Venture across International Markets Abishek TR* Abstract- Key words: INTRODUCTION The largest American suppliers of athletic shoes, apparel, and sports equipments .At the same point of time ,this company is known worldwide .The Success of this company is the result of the various strategies used in the international market expansion which helped them to enter into new markets and to strengthen its position in the traditional ones .
One of their key strategies in meeting this goal is a focus on customer service in order to create an experience for its consumers. Another one of their strategies is to ignite their emotional attachment with consumers. They also have
It will be easily giving the consumer make the decision in short time when buy the Nike’s product without compare with other Nike retail. Weakness 1. High Prices Nike is a strong brand at the global market and it normally sells the product in the market with high price to get higher margins and profit value. However, many competitors cost of the footwear is lower than Nike in the market, particularly in emerging markets, this can give consumers get many choice about the footwear.
Consequently, Nike’s pricing is intended to be economical and competitive to the other sport gear retailers. The pricing is built upon many factors that have been taken into consideration before setting a selling price on the root of the high-class segment as target customers. Nike as a brand orders high premiums. Nike’s pricing strategy makes use of perpendicular amalgamation in pricing in which they target participants with different channel levels or take part in more than one type of channel level operations. This can govern costs and effect product
The strength of high price product strategy is that Nike can earn more on each single item. Also, it can ensure the quality of the products. The low-priced products policy could widen the customer group and attract more buyers to boost the sales. The weakness of selling premium is that only high-end buyers could afford to buy it.
