Zodiac ShoeMarketing Plan Part 2

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Herzing University *

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Feb 20, 2024

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Zodiac ShoeMarketing Plan BU 220: Principles of Marketing Herzing University Professor Name Moneisha Dorsey 12/15/2023

Zodiac Shoe Marketing Plan Executive Summary Our mission is to offer our customers athletic shoes that are practical, eye-catching, and/or appealing to the unique characteristics of each zodiac. We want our footwear to fit and complement everyone. I plan to fully dominate the industry in order to achieve my goals. I'll accomplish that by purposefully offering my products at reasonable prices, satisfying client needs and wants, and having a unique product in a market where none exists yet. With competitive pricing points that can be met in any market. Part I: Situational Analysis Internal Analysis -Company History & Market Data from your research about the Zodiac shoe company Market Description -Competitor’s Analysis: Provide an overview of product competitors such as Durashoes and StridePulse being the top performers in competitors when reviewing doing comparing and contrasting the companies to my own. Competitor A (Durashoes)  Competitors’ strengths – spends large amounts of money on product development. December 15, 2023 Page 2 of 9

Zodiac Shoe Marketing Plan  Competitors’ weaknesses’- upon revieing the market research I think the company could increase sales reps in the foreign market.  Market Share - they are satisfying their customers; their customer satisfaction rate is at 90.8%  Current Marketing Strategy – they are satisfying their customers; they have the right marketing mix and are very profitable based of the statistics in the market research Competitor B (Stride Pulse)  Competitors’ strengths – understand their domestic market quite well and the response the customer is giving their respective company  Competitors’ weaknesses -  Market Share – there are able to service their home and domestic customers satisfaction at 86.5% are higher.  Current Marketing Strategy - Approach is offering a cheaper shoe and making it more affordable its competitors Current Marketing Mix In the US, my zodiac shoe would be the centerpiece of my marketing strategy. For the shoes, I would shell out $140. where the shoe would be on exhibit in the United States. Commercials, advertisements, and social media posts are currently used for promotion. In China, my zodiac shoe would be the centerpiece of my marketing strategy. For the shoes, I would shell out $140. where the shoe would be on exhibit in the United States. Commercials, advertisements, and social media posts are currently used for promotion. My product development budgets for China and the USA would differ from one another strategically. My budget for China and my actual budget would be the same. The Organization’s SWOTT Analysis Internal: Strengths – I kept my customer satisfaction at 76% rate Weaknesses – I wasn’t putting enough money into advertising, consumer and dealer promotions. External: Opportunities – There was opportunity to try win contract, but I always paid on the higher end and never received one, at first, I didn’t quite understand how to go about it but towards the end I realized I should have been biding lower. Threats – Not looking like a company worth buying from if I couldn’t quite understand the logistics, not paying attention enough to understand what my competitors were doing. December 15, 2023 Page 3 of 9

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Zodiac Shoe Marketing Plan Trends – It was a trend amongst the competitors to offer lower price and pour a lot of money into things I wasn’t, it was a trend amongst all the companies to appeal to our customers. Part II: Market Analysis Objectives and Issues Provide at least 2 objectives that are specific as well as measurable. Marketing Strategy Branding- Product branding is one of the most widely used forms of branding. Product branding appeals to me since it concentrates on creating a unique and identifiable identity for a single product. To make it easier for customers to recognize your product, symbols and designs are an integral part of product branding. For instance, Monster Energy drinks are easily distinguished from Red Bull energy drinks thanks to their unique packaging and logos. I therefore reasoned that Zodiac Shoe Company would also become well-known due to its logo. We will be very recognizable when you see all 12 zodiac signs on the shoe. Positioning - By emphasizing the advantages, characteristics, and benefits of the product over comparable ones, the Zodiac shoe company hopes to create a clear impression of the product in the minds of consumers1. Positioning strategies come in three flavors: segmentation, differentiation, and comparative. A positioning strategy is a marketing plan that assists your company in identifying its place in the market and how to differentiate itself from rivals to draw in more clients. Market positioning, product positioning, brand positioning, price positioning, and competitor-based positioning are the five positioning strategies you should think about for your business. A marketing tactic known as "market positioning" aims to give consumers a distinct impression of a company, good, or service. Performance Price December 15, 2023 Page 4 of 9

Zodiac Shoe Marketing Plan Consumer Promise- A brand promise, sometimes referred to as a customer promise, succinctly and clearly states how your business defines an exceptional customer experience. Disney, for instance, states that it will "Create happiness through magical experiences" for its patrons. Thus, The Zodiac shoe pledges to deliver a distinctive shoe experience, from design to fit to genuineness. Target Market (Market Segmentation). Messaging by Audience- “The Zodiac Shoe is the shoe for all.” “The Zodiac Shoe is the shoe for you.” “Buy It, Love It Wear It, with The Zodiac Shoe “ “The shoe for every mood The Zodiac Shoe will help you.” Targeted Consumer Demographics- My target market would be those who are between the ages of 15 and 30. As I develop my market, I want to examine the differences between the average 22-year-old female in China and the USA. My ideal educational background would be a high school degree, followed by a career as a Certified Nursing Assistant. A middle-sized family with four living generations and a $30,000 annual salary would be the norm. Part III: NEW Proposed Marketing Mix for your New Shoes Company My Zodiac Shoe company is able to differentiate itself from its rivals by emphasizing style, affordability, and durability. The brand is renowned for producing high-quality, reasonably priced shoes with stylish and fashionable designs. As a socially conscious business that is dedicated to giving back to the community, Zodiac shoe will also develop a strong reputation for its brand. First off, a broad spectrum of customers can access the company due to its emphasis on affordability. Then the company's dedication to longevity guarantees that its shoes are made to last. The customers who care about the zodiac find the company's shoes appealing because of its emphasis on style. Lastly, customers can feel good about supporting the company because of its dedication to social responsibility. Product -Describe the product: A zodiac shoe is a type of footwear that is typically made of leather, has a firm sole, doesn't usually go past the ankle, and is visually striking when worn. - Product Packaging – The shoes will be packed in a bright vibrant gold box because they will be the one and only uniquely of their kind. For up charging you could get your name and you zodiac engraved into the shoe. December 15, 2023 Page 5 of 9

Zodiac Shoe Marketing Plan Due to the customizations that would be allowed we would increase the price of our shoes. We would have a few potential fulfillment issues due to the customizations being offered and added to the product now. The only reason I’m speculating potential fulfillment issues is because the shoes would be customizable us making it more of an experience will make the shoes more personable to each customer. We as a company get to understand every customer on a personal level to meet their needs and expectations. Please explain what changes you would like to make to the current product and/or the product line. Will a new product be added? If not, will you change any features/benefits/packaging/labeling? We know we have a variety of different zodiacs, and we would like each zodiac to advocate for themselves, so if you're a proud Libra or Aries, you could get that stitched on the shoe. As mentioned above, we would now have an additional incentive to customize each shoe. We would offer several colors to choose from to your specific liking. We would even offer to have the shoe and/or the gold box that these shoes would be housed in engraved or stitched. Every shoe will be arranged in a gold box that has the zodiac logo printed on the exterior. If you would also like to have your exact zodiac and name listed, that is something we could do. We will add this as an extra service, raise the total cost of the shoes, and create a delightful, unforgettable individual encounter. Price To comply with these modifications, the new pricing strategy would fundamentally alter. Given the recent developments, I believe we would begin to sell our shoes for $180 or more. Because it's a hands-on experience that gives them some control over their design and final look of the shoe, I believe that the customizations and the personal experience would support it. Place My new distribution strategy is planning to sell online because I do not currently have online presence and due to the customization, it would be easier to allow the customers direct access to review the changes and customizations that want directly on our site. We would open 1 major headquarter store front to allow the customers to experience designing shoes in person and help make selections as well of having some customize examples show cased on the floor. Distribution Strategy The distribution strategy would be FEDEX or UPS, we would provide tracking numbers of all orders for each customized shoe order. Channels of Distribution We would produce the product – then ship directly to customers. Distribution by Channel December 15, 2023 Page 6 of 9

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Zodiac Shoe Marketing Plan Indirect – 33% Direct – 34% Selective – 33% VERTICAL MARKETS/SEGMENTS Discuss vertical market opportunities:  Discuss specific market segment opportunities.  Address distribution strategies for those markets or segments.  Address use of third-party partners in distributing to vertical markets. INTERNATIONAL International Distribution The process of choosing the best export destinations, locating the best distribution networks, and positioning your goods or service so that sales begin to increase is known as international distribution strategy. This calls for an organized plan and local market knowledge1. All time, location, and ownership utilities for industrial and end users are involved in the distribution process for international marketing. The choice, management, and inspiration of efficient channels of distribution frequently prove to be critical components of a company's competitive edge in global marketplaces. Promotion Discuss which promotional tools (advertising, personal selling, sales promotions, public relations) you are going to use, and why. How are you changing the company’s previous promotional strategy to meet the objectives that you created in this marketing plan? Promotional Schedule December 15, 2023 Page 7 of 9

Zodiac Shoe Marketing Plan 0 10 20 30 40 50 60 70 80 90 100 Number of Days Public Relations Strategy and Execution  Managing Social Media and Publishing Forums and Customer Surveys Integrating digital tools with online content and other platforms Influencer marketing Advertising Strategy and Execution A content marketing strategy is the process of creating high-quality assets (pieces of content) for relevant target audiences with the goal of guiding them toward a purchase. It is closely related to inbound marketing. Personal Selling The marketing communications mix, sometimes referred to as the promotional mix, is a tool used by the Zodiac shoe company to reach out to potential customers. The company is able to market its business and products to the global market for athletic and leisure footwear by utilizing a combination of strategies, tools, and methods. Other Promotions  Running additional promotions or discounted service on shipping and doing discount’s if more the customized shoes by allowing customers to save 20%. Section IV: Marketing Action Programs In Week 5, the two marketing objectives were set. As an example, if your objective was to “Increase product awareness by 15% among the new target audience identified within one year through direct mail and email advertising” then the action plan might include some the following questions: What will be done? Launching a customizable online shoe store Who will be responsible? The Zodiac shoe company will be responsible. How much will it cost? The new pricing is upward of $180 for customized shoes. December 15, 2023 Page 8 of 9

Zodiac Shoe Marketing Plan When will it be completed? Within the next 6 months is projected to be tested to the public for just the first 100 shoe sales so we can get a scale on how everything from the consumer directly to building out the shoe customized and ship out directly to the customer. Marketing Actions Programs Schedule 0 10 20 30 40 50 60 70 80 90 100 Number of Days Controls How will the progress of this plan be monitored to review implementation results? This is essential to allow higher management to assess what is/is not successful during the plan. What would the company do if they were not meeting the objectives that were set? What might be offered to customers if the new changes are not working? We're going to pre-release the personalized sneakers. We only allow orders for roughly 100 pairs of shoes. Neither of us would have any idea how long the process would take. We give the first 100 visitors the chance to embark on this new journey with us. We'll attempt to set quantifiable goals for this, such as the estimated time needed to customize the shoe. How much customization is permitted for the shoe? Every shoe would have a base pair of colors, and each one would benefit to some extent from the limited options we provide for color customization. Then, we would have to think about how long it would take to make that happen; since the engraving and stitching are done by a machine, it shouldn't take too long. To determine how long a shoe could be customized and to consider shipping straight to the customer, we will need estimates from Start. Conclusion In conclusion, our business has discovered a way to offer a fresh experience in a distinctive way. I believe we will gain some advantages from this new customizable experience that we do not currently have. As a company, we weren't quite sure where we were headed, but in the end, I believe we identified a path that could try to give us an advantage over our rivals. This will differentiate us from our competitors since we don't think any of them will provide this kind of service. December 15, 2023 Page 9 of 9

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Zodiac ShoeMarketing Plan Part 2

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