An analysis was carried out on present marketing situation on the footwear. The data was collected from 2014 to 2015. When the data was analyzed it clearly shows that the trend or demand of the footwear industry is growing continuously year after year. This study says that the importance of the footwear market of the Canadia is going to almost 7.42 billion Canadian dollars in 2018 (Statistic 2018). It has been seen that the population of Canada has changed their lifestyle and includes wellbeing as their daily routines by taking part in physical exercise and other health-related activities. This trending lifestyle has also changed the footwear thinking pattern which made them focus on sports footwear more as compared to formal footwear patter due to its high demand in the present time. Growing income and attraction of youth towards athletic, choosing as their profession has given the footware industry an opportunity to explore the world with full potential (Euromonitor 2018).
Political: Stable political conditions are one of the main reason for the prosperous of any company in that country and also the tax policies of Canada (GST, PST, HST) varies from territory to territory has the good impact on the footwear products. A need for free trade policies is in need of these products.
Economical: Footwear business performance also depends on the economy of the state where products are to be sold.
Variability in the economy of the country also plays a major role in deciding which state of the country will be helpful in the growth of the company products. The Higher economy of the state means citizens have of capacity to spend more.
Social: Developed countries like Canada focus on the comfort and safety of the product more as compared to developing countries. Responsibility towards society by companies is always given a place in the eye which in long run decides the future of the company.
Technology: As Canada is a developed country, it is in a continuous process of creativity and innovation. Technology advancement here changes sudden which ultimately impacts on the business of the company. Around 80% of the population of the world is now connected with this technology. Hence, investment in R&D plays an important role in development.
Ecological: Growing awareness related to the climate and strict rules related to the environmental regulatory bodies has forced the companies to go for green which means a fixed level of emission has been decided beyond which the company will be penalized if the benchmark level will be crossed.
Legal: The changed law related to the employment, consumer laws and health & safety of the employee have marked as important points for the process of any company in Canada. Strict employment laws in Canada is a threat because it increases the labor cost but it also helps in establishing high standards for the employment (Panmore 2017).
As from the above-market situation of Canada, it is clear that scope in the sports section of the footwear is more and there are many untouched points in the market, which are yet to be explored. Hence, we have decided to launch a brand, which will only focus on the sports section of the industry and will make use of local material along with the local workforce with low price. Name of the company will be “Foot Magic”. There are many footwear companies in Canada; hence, entry in this industry will not be very easy. A lot of competition is in Canada footwear market and only that company can survive which will provide quality with variety. Our focus will be on quality and provide varieties of the product.
Marketing objective of this brand will be one to provide such a brand, which will only focus on youth needs, related to sports pattern with good quality and low price. Another market objective is to inform the target audience about the best feature of this product and helping hand towards the development of the local society.
Segmenting, targeting and positioning is one of the marketing strategies.
Segmenting: Total population of Canada is around 36.95 million. Among this population about 40% belongs to the age of 25- 54 yr and 11.85% of the population belongs to the age group of 11-24 yrs. If we combine the total percentage, it is around 52% of the population (Gil-Saura, et al 2009).
As we know that if, we leave Toronto and Hamilton rest of all cities in Canada has an average income level. Especially, the youth has adopted the startup lifestyle instead of doing the job for others. They believe that it is better to spend their time and energy for themselves instead of working for other person’s growth, which ultimately has made them independent. About 51% has love towards sports and awareness of health has made to move towards Athletic lifestyle. Our target will be this 40% of the population (Eunju et al 2012).
Positioning: We know that this 51% of the population are taking parts in sports games and other Athletic activities. Therefore, we will provide this population with such a product, which is sporty along with affordable price. As we know that within this population, there are many individuals, which wants to have this product but cannot afford because the products, which are currently available, are of the high price that does not fit into their budget. Our brand Foot magic will solve this problem for this population (Septiani et al 2013).
4P`S of marketing
Product:
We will provide large varieties of sports shoes for both women and gents within affordable price. In this, we will include hiking shoes, soccer shoes, running shoes, tennis shoes and golf shoes. If our brand will grow in the market then we will also use the option of customized shoes (Opris et al 2015).
Price:
We will charge the low price for our product as material, which we are using for the product, will be local along with the local labor, which will help us to avoid some import taxes. In addition, the machines, which will be used for the production of shoes, will be local which will help us to lower down our investment in machines. As we will place our stores near to the potential customer it will also save our transport cost (Heisz 2015).
Place:
Foot magic products will be available through its limited stores in the first month and after seeing the demand for the product we will also make it available online. These stores will be placed near the sports club and will tie-up with universities, colleges, and another educational hub.
Promotion:
To promote our brand we will make use of media like Television ads, newspapers and printed advertisements. We will also make use of social media like Facebook, Instagram, Twitter, snap chat etc. Use of social media will be more because as per the study conducted around 80% of the world population is associated with social media (Islam 2010).
Social media strategy:
We can make use of digital media platform to market our brand by participating in discussions with people which spends lot of time for searching new style present in the market or will be available in the market. With the help of social media we can provide our brand the appearance by personalizing brands messages and will provide them 24/7 hour services for their related inquiries.
The material, which will be used for our product, will not contain leather. It simply means that no harm will be done to the animals during our production process and even the fluid, which will be used to combine the parts of the shoes, will not contain any chemical material, which will be harmful to environment Only eco-friendly glue will be used and our product will keep this main agenda that dream of having stylish sports shoes should be fulfilled. Unemployment among the youth is the very big problem/issues not only in Canada but also in the world. Our brand will provide the good opportunity for the employment of the local youth who will otherwise remain associated with the crime like activities. From many studies, it has been found one of the best ways to keep youth away from crime is by providing them the job opportunity. It opportunity will not only help these diverted youth but also will help in the betterment of the society which is our main aim. As the human being is a social animal it has to always live in the society and there is always a transfer of behavior from the individual as well as from the society (Cacioppe et al 2008).
Conclusion
The purpose of Foot magic would be to make up its product reputation, picture, and fairness. A brand name is not just a gathering of goods and profit, but also a warehouse of worth stemming as of consciousness, faithfulness, and alliance of excellence and brand character. A brand is an identity, word, symbol, representation or design or a mixture of them planned to identify the merchandise or services of one retailer or collection of retailers and to tell between from those of competitors. In essence, a make identifies the retailer or maker.It can express up to six levels of sense: Attributes, payback, morals and background and character and User. If a corporation treats a maker, only as a name it misses the point. The branding confront is to build up a bottomless set of optimistic relations for the maker The bottom line is that the demand of sports footwear in Canada is increasing tremendously due to the athletic lifestyle of the Canadians. Majority of our customers are from the younger section of the population. Hence, we have to create such an image of our brand.
References:
Cacioppe, Ron, Nick Forster, and Michael Fox. “A survey of managers’ perceptions of corporate ethics and social responsibility and actions that may affect companies’ success.” Journal of business ethics 82, no. 3 (2008): 681.
Chen, Steve, Janet Jin, and Eva Lou. “Toward Slip and Fall Prevention: Exploring the Guidance and Challenges of Anti-slip Footwear.” Procedia Engineering 43 (2012): 364-368.
Euromonitor.2018. “Footwear in Canada”. Feb 2018. https://www.euromonitor.com/footwear-in-canada/report
Gil-Saura, Irene, and Maria Eugenia Ruiz-Molina. “Retail customer segmentation based on relational benefits.” Journal of Relationship Marketing 8, no. 3 (2009): 253-266.
Heisz, Andrew, Geranda Notten, and Jerry Situ. “The Role of Skills in Understanding Low Income in Canada.” In Measurement of Poverty, Deprivation, and Economic Mobility, pp. 153-184. Emerald Group Publishing Limited, 2015.
Islam, Muhammad Azizul, and Craig Deegan. “Media pressures and corporate disclosure of social responsibility performance information: a study of two global clothing and sports retail companies.” Accounting and business research40, no. 2 (2010): 131-148.
Ko, Eunju, Charles R. Taylor, Heewon Sung, Jooyeon Lee, Udo Wagner, David Martin-Consuegra Navarro, and Fanghua Wang. “Global marketing segmentation usefulness in the sportswear industry.” Journal of Business Research 65, no. 11 (2012): 1565-1575.
Machmud, Senen, and Iwan Sidharta. “Business models for SMEs in Bandung: Swot analysis.” Jurnal Ekonomi, Bisnis & Entrepreneurship 8, no. 1 (2014): 51-61.
Melody.2017.” Social Media Use in Canada, 2017. 6 Oct 2017”. https://canadiansinternet.com/social-media-use-in-canada-2017/
Ohanian, Lee E., and Andrea Raffo. “Aggregate hours worked in OECD countries: New measurement and implications for business cycles.” Journal of Monetary Economics 59, no. 1 (2012): 40-56.
Opris, Madalina-Adina, Gabriel Bratucu, and Alexandra Palade. “Distribution policies and strategies for sustainable textile products.” Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V 8, no. 1 (2015): 65.
Panmore.2017. “Nike Inc. PESTEL/PESTLE Analysis & Recommendations”. 7feb 2017. https://panmore.com/nike-inc-pestel-pestle-analysis-recommendations
Septiani, Stevia, Farida Ratna Dewi, and Edward H. Siregar. “The impact of entrepreneurial marketing and business development on business sustainability: Small and household footwear industries in Indonesia.” International Journal of Marketing Studies 5, no. 4 (2013): 110.
Statistic.2018. “Forecasted market value of the footwear industry in Canada from 2014 to 2019”.2018. https://www.statista.com/statistics/487121/forecasted-market-value-of-the-footwear-industry-canada/
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