Weatherpruf case study
Weatherpruf’s marketing environment will be accessed with Marketing Audit and SWOT for its capabilites.
MARKETING AUDIT
Market Size
Annual turnover of the shoe polish market has been static in previous years at
£100million (around 300 million units) with 2 major product types. Solid shoe waxes dominates 67% market share at £50million (200million units), whereas Liquid shoe polishes takes 33% market share at £50million (100million units) .
Market segments and growth forecast
Market research had identified 3 equally distributed usages of shoe polishes:Segment 1. Protection of shoes and boots. Weatherpruf dominates this segment. No growth expected.
Segment 2. Enhance the appearance for adult shoes. Solid waxes are preferred, however with the growth of sales in non-leather footwear drives a long-term decline of 15% annually. Liquid polishes are predicted to increase to 30% next year from current 25%.
Segment 3. Improvement of children’s shoes appearance by parents. Liquid polishes accounts for 75% for this segment and expected to grow at a rate of 15%.
In the long-run, liquid polishes is forecasted to grow 20% per year with solid waxes declining.
Market Trends
Observed a shift in demand from traditional solid shoe waxes towards cleaner and convenient form of liquid shoe polishes with applicator. Greater use of non-leather footwear in place of leather shoes. Most shoe polishes are purchased as household item during shopping trip. 80% of shoe polish sales are through major grocery multiples.
Market Needs
Consumers are looking for quality product, ease of application and wider selection of colors. SWOT ANALYSIS
Strengths
Weatherpruf has a strong, well-established and trusted brand name. It is entrenched in speciality shoe shops for its high quality wax. Expertise in wax production enables it to produce at a relatively low cost of 15p.
Weaknesses
There is no marketing and innovating effort by
MARKETING AUDIT
Market Size
Annual turnover of the shoe polish market has been static in previous years at
£100million (around 300 million units) with 2 major product types. Solid shoe waxes dominates 67% market share at £50million (200million units), whereas Liquid shoe polishes takes 33% market share at £50million (100million units) .
Market segments and growth forecast
Market research had identified 3 equally distributed usages of shoe polishes:Segment 1. Protection of shoes and boots. Weatherpruf dominates this segment. No growth expected.
Segment 2. Enhance the appearance for adult shoes. Solid waxes are preferred, however with the growth of sales in non-leather footwear drives a long-term decline of 15% annually. Liquid polishes are predicted to increase to 30% next year from current 25%.
Segment 3. Improvement of children’s shoes appearance by parents. Liquid polishes accounts for 75% for this segment and expected to grow at a rate of 15%.
In the long-run, liquid polishes is forecasted to grow 20% per year with solid waxes declining.
Market Trends
Observed a shift in demand from traditional solid shoe waxes towards cleaner and convenient form of liquid shoe polishes with applicator. Greater use of non-leather footwear in place of leather shoes. Most shoe polishes are purchased as household item during shopping trip. 80% of shoe polish sales are through major grocery multiples.
Market Needs
Consumers are looking for quality product, ease of application and wider selection of colors. SWOT ANALYSIS
Strengths
Weatherpruf has a strong, well-established and trusted brand name. It is entrenched in speciality shoe shops for its high quality wax. Expertise in wax production enables it to produce at a relatively low cost of 15p.
Weaknesses
There is no marketing and innovating effort by