Professional Application Essay Example | Topics and Well Written Essays - 1500 words

Professional Application - examine ExampleNevertheless, Houston represents a booming market for Steve craze with a high proportion of working people with higher incomes. The paper reviews the internal and external situational factors affecting Steve Madden. The insights offered by this research can provide a basis for further in-depth research regarding the competitive position of Steve Madden. Keywords Steve Madden positioning target market merchandise efforts Introduction The small business chosen for the purpose of this essay is Steve Madden which has a strong sell presence in Houston, Texas. Steve Madden enjoys a strong foothold in the footwear industry and is in the beginning kn have got for the novelty of its products at a reasonable price. This paper discusses the competitive and marketing landscape for Steve Madden along with the economic, social, technological and demographic factors affecting the business. Part 1 Situation Analysis Product/ receipts Overview strengt hs, weaknesses Steve Madden offers an assorted grade of accessories and raiment for men, women and children. It enjoys high brand equity by virtue of its acid edge styles and fashion statements (Zappos.com, 2013). Another strength is that the products argon sold through the companys own stores, department stores as well as company website, thereby increasing availability of its products. Furthermore, the price matches part thereby offering value for m unityy for nodes. However, the products remain beyond the reach for majority of the customers. Also, repetitive styles publication in monotony. Current positioning in the market Steve Madden has positioned itself on the bridge between high-end and mid-range fashion. It soon enjoys a dominant market position with Steve Madden being ranked second to Nike as the customers preferred footwear brand (from 2002-2007) (Piper Jaffray Companies, 2013). Target Market Steve Madden targets a broad range of customers. Its core market for wom en ranges from 16-45 years whereas the sub brand Stevies is focused on girls aged 6-12 years (T. Sloan, personalised communication, September 02, 2013). The target market for men includes those aged 20-40 years (T. Sloan, personal communication, September 02, 2013). These individuals are primarily fashion conscious individuals with high annual incomes but do not want to splurge in expensive, high-end fashion. Less expensive knock-offs are offered for such customers. Current marketing efforts (traditional, interactive, etc.), messages and effectiveness The companys marketing efforts can best be described as both traditional and interactive. It has partnered with Katy Perry under Steve Madden euphony campaign which also featured live performance by Shwayze, a rapper. The company is actively enmeshed in mobile marketing as well as digital marketing through Facebook where customer feedback is taken via comments on videos, pictures and other content posted by the company. Google ad wo rds and Twitter are also used to broaden sharing of Steve Maddens content and deepening relationships with customers. Part 2 Competition The three major competitors for Steve Madden are BCBG, Nike and Nine West. These shall now be analyzed one by one. BCBG- Product/Service Overview strengths, weaknesses Primarily known for its high quality, fashionable apparel, BCBG has increased its offerings to include handbags, shoes and accessories thereby offering high product variety. The mid-range price points appeal to a broad range of