MARKETING PLAN

Marketing Plan

Marketing Plan

Market analysis summary

The market, Gold Shoes, will be facing is both competitive and accelerated. Gold Shoes are produced by numerous local and global manufacturers and the ones coming across. The market participants are not great in number. Somewhere it is a race of quality, pricing, customer and somewhere the sale.

The greatest issue for us is that to develop the presence of physical businesses in the mind of the consumers, buyers go and buy product explicitly .The major challenge for us is to scrutinize and conquer this comparative environment. Proficiency is our target and we will have to pull the customer towards the gold shoes method (Kotler & Armstrong, 2012, 121-127).

Market segmentation:

The gold shoe is such a product that mainly targets the elite class of the society. The needs it caters to constitute a basic need in the need hierarchy however keeping buying behavior and buying preferences as the basis of viewing our market gold shoes sees its market divided into two major segments:

Brand Conscious Customers

This segment of the market is highly conscious about wearing designer brands and feels privileged wearing them .These consumers mainly admire what a designer makes for them regardless of their likeness in most cases (Kerin, et. al., 2009, pp. 178-185). These consumers are mostly found going to outlets of their favorite brands every time they have to buy a product and choose among the slot available and make the purchase.

Non-brand conscious customers

This segment is not obsessed to a certain brand due to reasons such as product design and affordability. This segment is further observed having sub-segments as follows:

CONSUMERS BUYING ANYTHING THEY LIKE FROM ANYWHERE.

CONSUMERS WHO SEARCH EXCLUSIVELY FOR PRODUCS THEY WANT AND MATCH THE AVALIABLE PRODUCTS TO THE DESIRED OR IDEALISED ONES. THIS INVOLVES RIGOROUS SEARCH ACTIVITIES

Target market:

Gold Shoes decided to focus on the following target markets in view of the done segmentation.

PRIMARY TARGET MARKET: BRAND CONSCIOUS CUSTOMERS

SECONDARY TARGET MARKET: NON-BRAND CONSCIOUS CUSTOMERS

Gold Shoes will try to primarily attract customers from our primary segment as they possess high level of chances to adopt gold shoes, as this trend new in the Cyprus branded market, and the consumers finally get what they want. The secondary segment will also be worked upon because they constitute an equally important part of this market.

Market needs

Our company is focusing on physiological as well as needs for self expression, attention, recognition. Individuals including men and women do opt for foot wear as mode of self expression. Our brand provides expression of feelings like victory, rage, revenge, love; happiness etc. and thus self portraying, self expression and belongingness can be achieved (Bearden, 2011, pp. 201-210). The need is enhanced on occasions such as wedding day, annual functions, or some other specific functions etc. Customized gold shoes can be a mode of gift as well by the elite class.

Market trends

People in Cyprus are not very likely of wearing gold shoes during most part of the year. Most of the population living in rural and suburban areas is ...