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The show market and the ability to gain competitive advantage through marketing

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Introduction

Contents Introduction 2 Target Market 3 Competitors 4 Positioning 5 Marketing Mix 6 Key Strategies/Conclusion 9 References 10 Introduction Marketing is "the achievement of corporate goals through meeting and exceeding customer needs [and wants] better than the competition." (Jobber et al 2004) Based on research already carried out, in paper 1 and 2, on the purchase process of a product; a pair of boots, it was found that the two main attributes that women looked for from their boots was that they were seen as fashionable and that they were comfortable. As to attain a competitive advantage in the shoe market and to help meet the consumers needs and wants a range of shoes and boots will be introduced that have the following, beneficial, attributes; * Shoes/boots that will fit in with current trends * Will be both casual and dressy shoes * Built in gel pads at the area where the ball of the consumers foot will go * Creating comfort all day long for the consumer . A marketing strategy for the implementation of this new product will be developed with the key decisions that marketing managers must make, in mind. ...read more.

Middle

As we are aiming the product at fashion conscious women who need comfort from their shoes, it is thought that the message being portrayed will be credible in the minds of our target market. Lastly, the competitive factor is believed to be offering "something of value to the customer that the competition is failing to supply." (Jobber et al 2004) This being the in-built gel pad to create comfort all the time in fashionable shoes. Marketing Mix "A primary goal of a marketing manager is to create and maintain a marketing mix that satisfies consumers' needs for a general product type." (Dibb et al 2001) There are four main components of the marketing mix; product, price, place and promotion. Product "The product variable is the aspect of the marketing mix that deals with researching consumers' product wants and designing a product with the desired characteristics." (Dibb et al 2001) The research that was carried out in papers 1 and 2, clearly outlined the needs and wants of our chosen target market. They looked for style and comfort from their shoes. To satisfy these needs and wants a new brand of shoes/boots which is "stylish built in comfort", has been created. ...read more.

Conclusion

Key Strategies The key characteristics of well blended and effective marketing mix are:- * Product matches the customer needs * An aspect of the product creates a competitive advantage within the chosen market * An effective marketing mix for the product All of the above applies to the chosen product in discussion, "stylish built in comfort", as:- * With the combination of comfort and style, the customers needs have been successfully met * The combination of the comfort and style factors, "stylish built in fashion", creates the competitive advantage for the product. * The decided marketing mix is believed to be effective for the market of the new product. All of the above is implemented to create a successful marketing strategy which is based on the research information gathered in papers 1 and 2. The main issues that have to be detailed in a successful marketing strategy are:- * Identifying the target market segment * Identifying the main competitors * Benefits that are integral to the product are described. * The chosen retail price will be stated and why. * Stores and places product will be sold are stated. * How the product will be communicated to the chosen market will be outlined. All of which will help in the success of the new product. Conclusion In conclusion it is believed that the implementation will result in total success of the new product. ...read more.

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