Principles of Marketing - Shoes

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For most women shoes are probably the most important part of the whole outfit. The shoes you wear can increase your confidence or destroy it, and you can never have enough. Companies capitalize on this idea by mostly targeting women when they are marketing their shoe products. The market for fashion forward men is growing rapidly, thus more stores are providing a lot more variety of men’s shoes as well. The shoe market is divided into three major product categories athletic shoes, casual and dress shoes, and then “boom-or-bust” novelty designs. The shoe industry is one of the more “mature” industries, meaning that it has passed the emerging and growth stages and the sales are slower and more constant. The average woman owns 17 pairs of shoes. Women make up 25% out of the 40% casual/dress shoes segment, while the remaining 15% of it belongs to men. In order for a company, to retain its old customers and attract new customers, they must continually offer better and bolder shoes. The taste of shoe buyers changes often, and so the retailers must improve their shoes. The improvements in an athletic shoe would focus on comfort and performance enhancement. The dress and casual shoes would rely on the fashion-forwardness and the superior products and novelty designs focus on improving profitability. The whole shoe industry has to be able to adapt to change and with the electronic era here. The biggest change the industry probably has to make is moving to an e-business adjusting a company’s sales to stay the same and even increase, while keeping up with the technology and trends at the same time. That could mean expanding internet sales and closing down low performing stores or just marketing their online segments harder. The Designer Shoe Warehouse, more formally known as DSW, opened in 1969 and over the years has become a “leading branded footwear and accessories retailer”. DSW offers a wide range of brand name shoes and sneakers for men women kids as well accessories. Their strengths rely in the distinctive and convenient store layout as well as the prices offered to customers. Some shoes at DSW are offered at lower prices than in other stores. DSW is a warehouse with rows upon rows of shoes. The possibilities seem endless. They carry lots of different brands and styles so everyone can find something that they like. The company has 364 stores in 41 states, the District of Columbia, and Puerto Rico, as well as 346 leased departments for other retailers in the US. Not only does DSW have a whole bunch of traditional brick and mortar store locations, there are two websites. There is a product site where you can purchase shoes and accessories, and there is an investor relations site where you can find information about the company, press releases, SEC filings, and stock information since it is a publicly traded company. DSW became public in 2005. One effort in retaining customers would be their rewards system. To become a member is free of charge and you receive reward certificates after every 1,500 points earned. There are special deals and offers that are available to members only, such as, double-point shopping days twice a year, birthday certificates, and tracking purchases. And if you want to, you could upgrade your membership to the Premier Rewards status; for a small price. But, the Premier Reward members get all the perks, such as free next day shipping, triple-point days twice a year and access to events and offers that are just exclusively for them. The product website has an easy layout for customers divided into categories and sub categories. When a customer is in the process of looking for a shoe to purchase there are many great features included to help along the way. Such as full product detail that includes a colorful description of the shoe, the materials the shoe is made out of, and the dimensions. The customer can see ratings other people give the shoe such as duration, width, and comfort. There are also indications...
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