ESTABLISHING A BUSINESS:
Shoe Fly Company limited
STUDENT NAME: Enricko Daley
SUBJECT: Principles of Business SCHOOL: Northgate High school
This study will seek to investigate the marketing strategy of Shoe Fly. The shoe producer takes the initiative of creating exclusive products and a policy of always satisfying the avarice of individuals. Strategies that will be taken by our marketing department will also be discussed in this study along with responsibility and aims to satisfy LFCL customers.
Description of the Business
Shoe Fly will be a sole trader business that will be involved in the marketing of shoes. Our business will provide footwear for different age groups. Marketing is the process of by which a product or service is introduced or promoted to potential customers along to (www.smallbusiness.com). Our small business will be financed by personal savings. It will be a part of the fashion industry. The heart of our business success lies in its marketing, without marketing our business sales will crash and our company may have to close. Shoe Fly Company Limited will be located in the centre of Ocho Rios, on ocean village plaza.
Organization of the Marketing Department
Our business will use the line staff organizational structure
Marketing Manager- The marketing manager is responsible for the marketing of chocolate; researching and reporting on external opportunities and developing guidelines. Sales representative – The sales representative in Shoe Fly will be employed to represent our business and sell our merchandise. Call representative – Our call representative will be responsible for answering inquiries; resolving problems; fulfilling requests and maintaining database. Marketing representative – The marketing representative will sell products on behalf of our company.
The purpose of the market research is to gather data on customers and potential customers. The data collected will help Shoe Fly in our decision making. Our managers therefore need to ensure that our Shoes satisfy all of the customer needs. In order for customer satisfaction we need to identify how we can go about finding potential customers therefore Shoe Fly thinks that targeting the whole population will be a good decision.
NBCL has chosen to target the young population.
NBCL decided to target our customers by niche marketing which encompasses all activities in which a business engages to attract and establish long-term relationships with customers comprising a small segment of the total population The age groups are:
In order for the business to be successful, prices must be considered. Of all the aspects of the marketing mix, price is the one which creates sales revenue, all the others are cost. The price of a product is clearly the determinant of the value of sales made. Researching consumer’s opinions could also help us in setting a price range as they could indicate how much they value what they’re looking for and what they would pay. Due to similar companies exporting into my country NBCL will have to make sure that our pricing strategy will suit the consumers.
There are 5 supermarkets that sell the same product. The pie chart below shows the market population held by these cereal manufacturers.
Substitutes are a threat to any company. FPCL is going to present discounts to regular customers. This will most likely make customers choose our products...
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