The major problem that is evident in this case is the lack of a unique brand positioning. Brand positioning helps to identify a specific section of customers, and it helps to know the exact recipients of the product that the company is introducing in the market. Converse sneakers were with no doubt products that came to take the market by storm (Agnihotri and Bhattacharya, 2018). However, this would be cut short by the competitors like Adidas and Nike. Brand positioning is not only characterized by targeted customers, but it is also characterized by the features of the product. When a company targets specific customers, it must make sure that the needs of the customers are met in the specifications of the products.
Converse was a product that was first manufactured to meet the needs of the sportspersons. However, this would later change, and the product was embraced more by the celebrities and individuals (Agnihotri and Bhattacharya, 2018). The product was embraced as a fashion product as opposed to only being a sports product. This showed that the positioning of the product had shifted from its original positioning to a different and whole new positioning (Rowley, 2016). An organisation ought to identify the customers that it targets and it ought to make sure that the product maintains consistency, and at the same time, it meets the needs of the customers that it targets.
The issue of brand positioning becomes a bigger issue after the merging of Converse with Nike. The launch of innovative sneakers which were different is a sign that the company did not have a focused direction on the exact market that it was targeting (Agnihotri and Bhattacharya, 2018). Though it was a strategic move to change the products into ways that the company thought the customers would love the product, the number of times that the product would be changed raised questions and in some cases they had an effect on the product (Ahearne, Lam, and Kraus, 2014). The innovative stages proved to have adverse effects on the product to the extent of the company doubting if the customers wanted the innovated products or they wanted to stick to the products that were introduced to them earlier.
A company that has positioned its products well in the market sticks to one line, and it only makes improvements to make the product better and not to change the product. Trying to capitalize on every opportunity that presents itself can be a challenge to a company because at the time the loyalty of the brand is affected. In this respect, it was a problem for the company to try and tap into all opportunities that were available in the market (Chernev, 2018). The problem is also related to marketing because the way the company placed its product in the market in the first time was not the same way it did a few years to come. The company took different perspectives, and this would come to affect the customers’ decisions of purchasing thus having a direct adverse effect on the company as well.
The environment of the case study is competitive, but there are opportunities for the company to explore to its advantage and emerge a success. The competitiveness is seen in the first time when Converse is introduced to the readers (Agnihotri and Bhattacharya, 2018). It is imperative to note that one of the reasons why Nike took Converse under its wings was because the company was not doing well. The company failed to do well because the competition was stiff (Ahearne et al. 2014). Before the introduction of other players in the market such as Adidas and Nike, Converse was the organisation to beat, and this was because the company dominated the market. However, the success would be short-lived immediately after the entry of the competitors.
The environment was also competitive because of the products that were released to the market. One of the reasons why Converse would be kicked out of the market was because the company was not in a position to provide products that meet the needs of the customers (Agnihotri and Bhattacharya, 2018). It is essential to note that competition is not only promoted by the presence of other organisations in the market. The competitors must also be in the position to give other organisations a run for their money (Chen, Tang, Jin, Li, and Paillé, 2015). The sneakers started being inferior goods soon after Nike and Adidas entered the market, and this was an indication that the competitors brought something unique to the market.
One of the biggest strengths of the company is that it has been in the market for a long period. The time that a company has been operational is essential because it has an effect on how the customers respond to the products of the company (Piercy, 2016). For example, if Converse was a new company in the market, it is apparent that it would not have an influence on the customers the way it has. The time that the company has been in the market has helped the company to establish relationships with the customers (Chen et al. 2015). At the same time, if the company had not been in the market for a longer period, it is evident that Nike would not have made the decision to take the company. The time that the company had been operational helped to create a perception that the company had the potential to win in the market and all it needed was the management of an experienced organisation.
The second strength is brand loyalty. It is fascinating how the customers changed the purpose of the converse sneakers because they loved the brand (Agnihotri and Bhattacharya, 2018). When the company released the converse sneakers in the market, it wanted to satisfy the needs of the sportspersons. However, this would change after the customers started wearing the sneakers for fashion. When a company has customers who are loyal and embrace its products beyond its expectations, it demonstrates strength (Goffin and Mitchell, 2016).
One of the weaknesses that have been demonstrated by the company is that the company does not understand the needs of the customers. The weakness has been depicted in two different cases. The first case is when the company manufactured a product that would suit a need of the customer but ended to meet the needs of a different type of customer. The second case is when the competitors came in the market and took over the market (Agnihotri and Bhattacharya, 2018). An organization that understands the needs of the customers is not likely to be eliminated. A good example can be taken from Apple Inc. Despite the fact that the company has been in the market for many years, it is still one of the largest organisations in its industry (Grant, 2016). This has happened because the company understands the needs of the customers and even without making a lot of changes in its products, the company is still commanding a big number of customers globally.
The second weakness is lack of market intelligence or information. The reason behind it is associated with the fact that the company had made advancements in its products and at some point, the outcomes were negative (Agnihotri and Bhattacharya, 2018). It is expected that before a company can make any change, it is aware of the impacts that the changes will have on the customers (Habibi, Hamilton, Valos, and Callaghan, 2015). When the changes fail to meet the needs of the customer or fail to boost the sales, it is no doubt that the company does not do thorough research.
One of the greatest opportunities that the company has is social media. Converse has proven that it does not need to invest so much in marketing its products using the traditional marketing strategies (Agnihotri and Bhattacharya, 2018). The presence of the company on social media and the idea of using social media as the primary marketing tool is an opportunity if well utilized can lead to enhanced success. In the modern day, social media has become an avenue when organisations meet with their customers and interact (Baker, 2014). At the same time, social media is used as a marketing platform. Therefore, the company has an opportunity to promote its growth through the use of social media.
The threat of competition is still present, and this is because the company has not yet stood on its feet. The industry that the company is in has attracted many players or organizations which are dealing with the same products (Kumar, 2015). As a result, the company is likely to face stiff competition that might affect its current operations as well as its future.
After the challenges that have faced the company when it comes to manufacturing sports products, the company changed its major segments (Agnihotri and Bhattacharya, 2018). The customers that the company focuses on are the artists and individuals. What is more fascinating about the customers is that the customers chose the company and not the other way around. When Converse was manufacturing its products, it was doing so to reach out to the sportspersons. However, the musicians and artists found it more fashionable and interesting to use the products of the company (Kumar and Reinartz, 2018). Due to the influence that the celebrities have on the consumers, they influenced the customers to purchase the products of converse, and that is why converse ended up selling to the artists and people who are fashion conscious.
The types of research of the segments I would like to see conducted to assist in the development of my marketing strategy
To assist in developing a marketing strategy, qualitative research would come in handy. The method that is selected to research an issue should be aligned to the expectations of the researcher (Arnett and Wittmann, 2014). In this case, my expectations are to collect as much detailed date as possible from the customers. Considering that the information will be used to come up with the most effective marketing strategy, the information must be detailed, and it must provide relevant and accurate data that will promote a good decision-making process when drafting a marketing strategy.
In this case, different methods would help to attain the relevant data that is supposed to help in coming up with a marketing strategy (Baker, 2014). The first method would be the survey. A survey would be used to know more about the customers and their behaviors. Understanding the trends and behaviors of customers is a better way to come up with a marketing strategy. The reason behind it is because the marketing strategy must tap into the trends of the customers with the aim of aligning the marketing strategy with the needs of the customers.
Focus groups would also be essential in collecting the data that is helpful to the marketing team. Focus groups bring together people with the aim of motivating them to share what they know about the topic of discussion. In this respect, it would be better to have the customers of the product in one location and listen to them (Strauss and Frost, 2016). When people are together, and they are contributing to a certain issue, it is more likely that they would offer information that is essential to the issue of concern (Baker, 2014). Focus groups do not only provide an avenue for the customers to say what they want but the researchers get to know more about the customers and their behaviors as well as what they need. Such information is likely to have a significant and positive impact on the marketing strategy because it helps to understand the psychology of the customers (Zeriti, Robson, Spyropoulou, and Leonidou, 2014). The psychology of customers is essential especially in marketing because one gets to know more about the methods or rather strategies that would have effects on the customers.
The third and most significant method is the interview. Interviews stand as the best methods of collecting data in any given research. In this research, the interviews are likely to help me to know more about the customers as well as their needs. In this respect, it will be better also to understand some of the marketing strategies that move the customers or attract the customers to purchasing the products of the company (Hill, 2017). This information will be crucial to the marketing strategy because it will help to understand the customers and understanding the customers will help in coming up with the most effective marketing strategy that will move customers in masses and the one that will convince the customers to purchase the products of the company.
The objective of the company is to reach more customers who will be able to purchase the products of the company and make the company a success again. It is essential to note that the main reason for coming up with a marketing strategy is to make sure that the strategy connects the company with its potential customers (Agnihotri and Bhattacharya, 2018). The achievement will help to retain the good name of the company and to make sure that the company is able to reach more customers by meeting their needs the way it used to before the competition was stiff in the market (Proctor, 2014). The objective is significant because this is the only objective that will take Converse back to its lost glory.
The reason why the organisation needs a marketing strategy is to attract more customers. The company needs the customers for it to continue being relevant and at the same time, it needs more customers to continue expanding (Baker, 2014). The latest expansions have been positive, but it is a high time that the company raises its level higher.
The best way to attain the goal of increasing customers and reaching more customers is by coming up with a strong marketing strategy (Baker, 2014). The company has an objective of reaching the customers with an effective marketing strategy that will help to transform things in the company.
Through an effective marketing strategy, it will be realistic to reach all potential customers in the United States. The market base of the United States is huge, and this means that if the company can meet the needs of the customers, that will be one of the biggest moves in its recent past.
The timeline is essential in any initiative, and this is why the company has set one year to be the timeline that it will use to reach all potential customers (West, Ford, and Ibrahim, 2015). The company has an objective of making progress in the next one year and that is why it has put measures and strategies in place to beat the deadline.
The market mix that I propose for the organisation is the 4Ps. The 4Ps stand for product, place, price, promotion. I would advocate for the concentration of each P with the aim of reaching more customers and meeting their needs. The quality of the product that the company manufactures must be at its best at any given time to attract more customers. The product must be available wherever and whenever the customers need it (Shank and Lyberger, 2014). This will be promoted by working with suppliers and opening more outlets in the country. To make sure that customers get value for their money, the price of the products will be fair, and at the same time, different varieties of products will be provided to meet the needs of different social classes. The promotions will be extended with the aim of spreading the word about the products of the company.
The problem that is present has touched on 2Ps which are promotions and product. The 4Ps that I have outlined have focused on the quality of the product and the promotion of the product. In this respect, it is evident that the marketing mix will take care of the problem. (Wensley, 2016). The quality of the product will be enhanced, and at the same time, the marketing of the product will be taken to a higher level than ever before.
My proposed strategy is likely to come along with positive implications. This time around, the marketing strategies will not only have the social media as the most used platform, but it will also utilize other media (Agnihotri and Bhattacharya, 2018). The introduction of new methods of reaching the company will add to the number of customers that seek to purchase the products of the company (Banerjee, 2017). The marketing strategy has also utilized different methods of research. The use of different methods of research comes in place to help the company to gather more information on the needs of the customers in the market (Baker, 2016). Therefore, the marketing strategy will have more areas that are well informed and it will look into ways of meeting the needs of the customers. The marketing strategy has paid much attention to the United States. In the United States, Converse was once one of the most successful companies, and it had won the hearts of the customers. Coming back with a different perspective and advanced products is likely to help the company attract more customers and retain the customers who might have left (Rothaermel, 2015). The implementation of the strategy will attract more investors and customers. As a result, it is evident that the sales and the profits of the company will be affected positively.
References
Agnihotri, A. and Bhattacharya, S., 2018. Converse’s Chuck Taylor: Future Growth of a
Retro Brand. SAGE Publications.
Ahearne, M., Lam, S.K. and Kraus, F., 2014. The performance impact of middle managers’ adaptive strategy implementation: The role of social capital. Strategic Management Journal, 35(1), pp.68-87.
Arnett, D.B. and Wittmann, C.M., 2014. Improving marketing success: The role of tacit knowledge exchange between sales and marketing. Journal of Business Research, 67(3), pp.324-331.
Baker, M.J., 2014. Marketing strategy and management. Macmillan International Higher Education.
Baker, M.J., 2016. What is marketing? In The Marketing Book (pp. 25-42). Routledge.
Banerjee, S.B., 2017. Corporate environmentalism and the greening of strategic marketing: Implications for marketing theory and practice. In Greener Marketing (pp. 16-40). Routledge.
Chen, Y., Tang, G., Jin, J., Li, J., and Paillé, P., 2015. Linking market orientation and environmental performance: The influence of environmental strategy, employee’s environmental involvement, and environmental product quality. Journal of Business Ethics, 127(2), pp.479-500.
Chernev, A., 2018. Strategic marketing management. Cerebellum Press.
Goffin, K. and Mitchell, R., 2016. Innovation management: effective strategy and implementation. Macmillan International Higher Education.
Grant, R.M., 2016. Contemporary strategy analysis: Text and cases edition. John Wiley & Sons.
Habibi, F., Hamilton, C.A., Valos, M.J. and Callaghan, M., 2015. E-marketing orientation and social media implementation in B2B marketing. European Business Review, 27(6), pp.638-655.
Hill, T., 2017. Manufacturing strategy: the strategic management of the manufacturing function. Macmillan International Higher Education.
Kumar, V., 2015. Evolution of marketing as a discipline: What has happened and what to look out for. Journal of Marketing, 79(1), pp.1-9.
Kumar, V. and Reinartz, W., 2018. Customer relationship management: Concept, strategy, and tools. Springer.
Piercy, N.F., 2016. Market-led strategic change: Transforming the process of going to market. Routledge.
Proctor, T., 2014. Strategic marketing: an introduction. Routledge.
Rothaermel, F.T., 2015. Strategic management. McGraw-Hill Education.
Rowley, J., 2016. Information marketing. Routledge.
Shank, M.D. and Lyberger, M.R., 2014. Sports marketing: A strategic perspective. Routledge.
Strauss, J. and Frost, R.D., 2016. E-marketing: Instructor’s Review Copy. Routledge.
Wensley, R., 2016. The basics of marketing strategy. In The marketing book (pp. 75-107). Routledge.
West, D.C., Ford, J. and Ibrahim, E., 2015. Strategic marketing: creating competitive advantage. Oxford University Press, USA.
Zeriti, A., Robson, M.J., Spyropoulou, S. and Leonidou, C.N., 2014. Sustainable export marketing strategy fit and performance. Journal of International Marketing, 22(4), pp.44-66.
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