Clutch Shoes are designed to fit all audiences. The company will be an uplifting functional shoe solution for all types of fashion styles. It will be customizable in terms of style, colors, fabrics, themes, and accessories. Consumers of the Clutch Shoe will have the flexibility of having different outlooks of shoes that we will provide and can customize their own shoe at will. You can easily come in the store and have your shoe done within an hour or two depending on the style, you do. This shoe will always come thru in the clutch.
Target Audience
Our target audience is comprised of fashion-conscious, active children, and social pre-teens, teenagers, young adults, and adults. With this new style of fashion, their wardrobes are now fun, stylish, and most importantly personal. Now they do not have to emulate their idols they can become them in a matter of seconds. Marketing Strategy Overall, Clutch Shoe marketing strategy is to focus on our personal connection with our customers. We will provide high-end designs and accessories with different style of shoes. The concept is that the customer feels like they are artist in their own rights. Target Market Initially, Clutch Shoe will start in the regional area of Dallas. Through expanded marketing and advertising, we will start socially through Facebook, Twitter, and Snapchat. We anticipate the product could reach a national market in the next five years. Price Point Since Clutch Shoe will bring a uniqueness to the fashion world, we anticipate the price point will be $50.99 to $100.99. For more advance style, it could possibly be higher upwards to $150.99. We will attract endorsements, partnerships, and more income. As of 2016, our market analysis indicated 7.2 percent decreased in our target demographic. Pre-teens and young adults are the demographic where we need sustained growth. If our customers are not satisfied with our product, we are losing money. In the last quarter, our sales decreased, leaving us $30,000 under projected growth. We recently completed a marketing survey analysis. We designed a questionnaire for all people across Dallas. Our focus is to improve and develop our brand to keep our audience amazed and wanting more. In most importantly to increase market shares. We intend to use Miller Marketing Group, which our competitor use. We will establish our contract that will conduct in a six part-marketing plan featuring athletics, celebrities, and commercial advertising. That will improve our demographic and even expand worldwide and have more investors. Clutch Shoe’s mission is to be the leading producer and marketer of personalize shoes for consumers who loves fashion. Clutch Shoe wants to inspire people to become more creative and give the all consumers a chance to express their style. The next five years, Clutch Shoe seeks to reach these goals: Financial Goals 1. …show more content…
Obtain financing to expand manufacturing and increase distribution.
2. Increase revenue by at least 50 percent each year.
3. Donate at least $70,000 a year to Goodwill, Salvation Army, and United Way.
Nonfinancial Goals
1. Enter new geographic markets, like Mid-West and East Coast.
2. Develop a successful interactive internet site.
3. Develop a community outreach youth program aimed at helping communities.
We strive to achieve a sustainable competitive advantage over our competitors. Clutch will offer a high-quality brand product whose image will be recognizable to its consumers and eventually worldwide. Have a community among the consumers who purchase the product. Finally, develop a reputation among other shoe retailers as a great manufacturer. We believe in forming a strong relationship with our consumers and suppliers; we will have a competitive advantage over our rivals Nike and Jordan.
Additionally, we need to consider the four marketing “P’s” also known as the Marketing Mix product, place/distribution, promotion, and price. The top companies throughout the world have used marketing mix to capture and sell their product across the world.
Product
Clutch Shoe knows it is imperative that we have a clear grasp of what we are selling before it becomes successful. Place/Distribution It is important that we evaluate what the ideal locations are to attract potential and current customers. In today’s society, everything is more advance for instance, online shopping. We have to make