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MARKETING PLAN FOR WAVE SHOE COMPANY

MARKETING PLAN FOR WAVE SHOE COMPANY. CREATED BY SCOTT MELCHER FOR HOLDEN GRANT. SHORT-TERM GOALS FOR WAVE SHOES. 1. Have a presence in all major west coast athletic shoe markets on the west coast and Hawaii (San Diego, Los Angeles, Bay Area, Portland, Seattle, Honolulu)

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MARKETING PLAN FOR WAVE SHOE COMPANY

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  1. MARKETING PLAN FOR WAVE SHOE COMPANY CREATED BY SCOTT MELCHER FOR HOLDEN GRANT

  2. SHORT-TERM GOALS FOR WAVE SHOES 1. Have a presence in all major west coast athletic shoe markets on the west coast and Hawaii (San Diego, Los Angeles, Bay Area, Portland, Seattle, Honolulu) 2. Begin second shoe style by the end of our 5th year 3. Grow profits by at least 10% each year

  3. WAVE STRENGTHS A focus on serious athletes who exercise at least once a week. As a small new company, we will be able to give strong attention to our customers and their needs Long-lasting shoes designed with runner input

  4. WAVE WEAKNESSES We lack the ability to create a large variety of shoes Our target markets are limited The shoe industry is fairly new to our owner and investors

  5. CURRENT PRODUCT MARKET FOR SHOES Men’s athletic shoes have the largest market share at 20 % Consumers are driven by three main motivations to buy shoes: quality, cost, and fashion Possible target markets: teens, athletic adults, low-income individuals Foot Locker and Payless offer greatest number of stores

  6. RECOMMENDATIONS FOR PRODUCT MARKET Create a high-quality running shoe The target market will be adult men who exercise regularly Focus on a small target market and getting into specific stores like Jack Rabbit and the The Running Store

  7. CURRENT FACTOR MARKET FOR SHOES Biggest long-term challenge is the pull of outsourcing the productions of shoes Outsourcing provides low-cost production and a higher likelihood of bigger profits American made factories typically offer higher quality at a higher cost for us and the consumers Endorsement deals present an additional cost for us, but sometimes with amazing results.

  8. RECOMMENDATIONS FOR FACTOR MARKET Begin by using American factories with American labor Put the factory near the cities we hope to begin selling Avoid costly endorsements until we wish to reach a larger market

  9. PROMOTIONAL STRATEGY

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