Executive summary
Business operations are based on effective marketing campaigns that focus on sustenance of profitable outcomes through the inculcation of diverse operational strategies. Thus, from the analysis of G-spot, marketing is pivotal towards sustenance of profitability. Through the inculcation of plausible marketing strategies, the business is bound to generate effective marketing campaigns that are construed towards sustenance of revenue yield and market position within the business environment. Thus, as a plausible approach, it is imperative that its new shoe line, Beana undergoes effective marketing campaign towards profitable outcomes. Thus, this paper will evaluate the marketing approach towards effective performance in regards to the product.
Branding strategy
First and foremost, branding is construed towards giving an organization a differentiated mandate in regards to its labeling, packaging and so forth. Through branding, uniqueness in regards to product attributes is bound to prevail which is pivotal towards success in sustenance of a market share within the business environment. Thus, from the analysis of new Beana shoe line, a plausible branding approach is as follows:
Beana
Logo
Slogan
Beana shoe line-Fusing quality, comfort, and affordability
Brand extension
Brand extension also regarded to as brand stretching is highly pivotal within the organization. From the analysis of various pundits, brand extension denotes use of the similar brand name for another product within the organizational performance mandate. Thus, from the analysis of Beana’s shoe line, an evolutional Beana shoe line for kids is evident. It’s hip and construed towards capturing the young market.
Marketing strategy
A below the line marketing approach is highly formidable towards successful operations. The below the line approach within the company should focus on generating a more personal interaction with the prospective customers towards generation of profitable outcomes and sustenance of revenue yield. Accordingly, the inculcation of the below the line approach should aim towards ensuring that the various customers comprehend the shoe line performance and effectiveness in regards to use and comfort. Thus, the three main below the line marketing approaches are as follows:
- Word of mouth advertising: the goods and service offered to a customer offer an avenue in which an organization can offer proper promotional mixes that are plausible and commendable. Through proper service delivery to a customer, the experience evidenced by a customer offers an important marketing tool. A customer that is given proper services communicates with other prospective clients hence offering a proper word of mouth advertising platform.
- Exhibitions: exhibitions in reference to Ludi (2008) are marketing platforms in which a business can demonstrate and make sales of their products in different avenues apart from the stores in which they operate. Exhibitions are undertaken through businesses setting whereby a business sets up camp in institutions or designated avenues and communicate within a direct format to the prospective clients.
- Personal selling: personal selling entails a marketing approach in which individuals are employed by an organization directed towards marketing the products to direct clients. As such, personal sellers interact directly with individuals offering an extensive and interactive below the line technique.
Furthermore, the marketing process within the below the line approach is extensively dynamic and is pegged on proper comprehension of the consumer behavior through the inculcation of three main phases. Thus, the marketing process within the G-spot entails;
Phase one: identifying the target consumers
Identifying the consumer market is imperative towards the performance mandate of the marketing communication process. The agency or organization involved within the advertising and promotion aspect should understand and clearly evaluate the consumer market to ascertain proper packages suited to the market.
Phase two: Ensuring and enhancing awareness
The marketing communication process should be based on an emphatic information relay that generates awareness among the consumers. As such, the products and services offered should be comprehended by the prospective market.
Phase three: Relaying information
As the last process, it entails disseminating information to the consumer market. As such, relaying of information should be based on a holistic awareness and comprehension of the consumer dynamics, needs and approach to ensuring the needs are ascertained.
Additionally, the budget formulation process in reference to Ludi (2008) is dependent on proper comprehension of the varied approaches that a marketer can inculcate. Ludi (2008) further emphasizes that the two main approaches to below the line marketing at G Spot are;
- Top-down approach
The top-down approach is directed towards the financial management of an organization. As such, the aforesaid approach is directed towards dictating the financial budget that the marketing department has to conform to.
- Bottom-up approach
Ludi (2008) asserts that the above approach is an inclusive approach in which varied departments are involved within the planning mandate of the marketing approach. Through the above approach, the diverse departments of the organization relay the approach that can be inculcated in marketing the product. Hence, the above process is based on the following activities;
Positioning statement
Positioning: Spot Company should position its products as “quality and affordable’. Through positioning its products and services as quality oriented, the company will ensure that the safety standards are met and ascertain to its clients of the products viability. Additionally, the affordability aspect is imperative especially in a US market which as per Nigel (2012) has been evidenced by reduced spending. The company should focus extensively on sustaining market position that aims towards profitability in performance. Ensuring that the product is affordable is bound to generate an effective market share within the environment of operation. It is imperative that the company position its innovative product as quality towards alleviating the prospects of litigation emanating from clients in regards to the product details. Emphasis on product quality should prevail to ensure that effective quality control measures are evident to ensure profitable outcomes. Thus, through the positioning statement, an analysis of the benefits to the user is as follows.
Benefits to the user
- Product diversity
A quality and affordable strategy inculcated by an organization is beneficial to an organization due to the wide scope of products availed to the consumer market. Nigel (2012) asserts that wide array of products and services incorporated by any company sustain profitability since the non performing product division is sustained by the increasingly profitable section.
- Enhanced innovation within the organization
A quality and affordable strategy relies on innovation which is integral towards survivability of a company. Boots operates within a sector that is highly cutthroat. Hence, innovation plays a pivotal role towards operative excellence in the organization (Spalton 2010).
Customer behaviour
Customer behavior in reference to Nigel (2012) entails the various actions and reactions that are exhibited by individuals who are influenced by both internal and external factors. As such, the various environmental factors that affect the buyer behavior include;
- Culture: culture denotes individual perception regarding a given product. The value, tastes, and preference denotes the customer behavior and regards towards the given product. Thus, from the analysis of the shoe line, it is imperative that the organization evaluates the cultural facet of US consumers.
- Social class: social class denotes the income levels of an individual and how they dictate the consumption behavior. Accordingly, there prevail low, middle and high-income levels. Thus through the analysis of the diverse income levels in US and how they are spread, the company can incorporate an effective pricing strategy towards sustenance of profitability.
- Family: family within a wide mandate significantly determines the consumption behavior of an individual. As such, through the individual upbringing, various facets of behavior are bound to prevail that are shared within the family. Thus, through an analysis of the family aspects, various behavioral aspects are bound to prevail.
- Peer groups: peer groups denote the individuals that one interacts with within the day to day mandate. Accordingly, peers denote individuals within the same age level social interaction. Through the interactions within similar age gap, facets of behavior are bound to emerge.
Mission statement
G Spot operational mandate is towards sustenance of quality and beneficial products to the consumer market. The organization focuses on the production of effective and customer friendly products that are construed towards ensuring mutually beneficial outcomes. The company relies on research and development towards successful outcomes and generation of highly differentiated, unique products for the customer market.
Company introduction
G Spot is a new company that focuses on production of innovative based products. As such, within its operational mandate, the company has shoe line that exudes quality and construed towards ensuring comfort and effectiveness in walking. The company was formed a year ago with an operational mandate towards ensuring profitability through quality products and services.
Conclusion
Marketing is a pivotal function to an organization. Through marketing, a business generates revenue coupled with sales which are significant to the survivability of the business. Thus, it is imperative that a business invests extensively into marketing to sustain performance. From the analysis of G Spot, the inculcation of marketing is bound to ensure that its novel product captures a plausible market share. An intensive investment into an effective market plan is bound to ensure profitable outcomes for its shoe line.
References
Isobel, D., & Lowe, R. (2008). International marketing strategy: Analysis, development and implementation. Connecticut: Cengage Learning EMEA.
Ludi, K. (2008). Marketing communications. New Delhi: Juta and Company Ltd.
Nigel, F. (2012). Market-led strategic change. London: Routledge.
Spalton, P. (2010). Marketing. New Jersey: Collins.
