Randy owns a shoe company and recently retooled his company’s marketing mix strategy. His new target market is wealthy, craftsman-quality-seeking younger individuals. He has hired more craftsmen in his factory, purchased premium materials to construct high-quality shoes and will distribute the shoes through Nordstroms, Zappos, and his own website. Shoe prices now begin at $500 and up. What promotion strategy would support the rest of his marketing mix decisions?

Question

16-09-2020
Business

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Randy owns a shoe company and recently retooled his company’s marketing mix strategy. His new target market is wealthy, craftsman-quality-seeking younger individuals. He has hired more craftsmen in his factory, purchased premium materials to construct high-quality shoes and will distribute the shoes through Nordstroms, Zappos, and his own website. Shoe prices now begin at $500 and up. What promotion strategy would support the rest of his marketing mix decisions?

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sebastiansierraocm sebastiansierraocm · Answer 1 · 2020-09-20T04:02:57+02:00

Answer:

A good marketing strategy for Randy would be to try to keep a base of loyal customers. This can be achieved by focusing on quality (like Raindy is doing), so that customers feel that the product satisfies their needs and beyond.

Because Randy wants to focus on wealthy, quality-seeking individuals, he should made the buying experience comfortable for every customer. Brand loyalty not only comes from the product, but also from the buying process. Loyal customers stay loyal for the whole experience.