Professional Application Essay Example | Topics and Well Written Essays - 1500 words - 1

Professional Application - Essay Example Steve Madden is well known for selling its fashionable footwear products which provide cutting edge solution to the customers in the footwear industry. The business of Steve Madden is well known for the novelty in the footwear products and the competitive prices of the footwear in the market. The market capitalization of Steve Madden is under continuous threats due to the strategic movement of its competitors like the BCBG, Nike, etc. BCBG has been able to reduce the points of differentiation in the product lines of Steven Madden. Nike has been able to tap the unexplored market for athletics and sportswear. The changing landscape in the marketing of footwear products of Steve Madden could be analyzed with the help of research on the market demographics, social, economic as well as technological advancements (Kazmi and  Batra, 2009). Due to the changes in the internal and external environments of the footwear business of Steve Madden, the company would need to strategically adopt po licies for a smooth adaptation to such changes. In order to respond to the changing scenario, Steve Madden is required to identify the different target customer segments in the footwear market and then carry out separate approaches for sales and promotion of the footwear products depending on the demand and preferences of the target customer segment. ... The various marketing and sales promotional approaches adopted by Steve Madden for the different customer segments have been described as given below. Children or teenagers The various approaches for sale promotion in order to tap the target market opportunities include better packaging of the footwear products that generally attract the teenage customers. Better packaging creates the first impression among the teenagers before use. In addition to this, any free item offered with the footwear would also be a good sales promotion approach for targeting the teenage customers. In order to promote the footwear products among the teenage customers, Steve Madden could also look to spread the information on the good effects on tender legs due to the usage of their products. Apart from this, the company could also conduct exhibitions of their footwear products with amusements for children in those exhibitions to attract the target customer. The increased time spent by the children and the te enagers along with the parents in such exhibitions would help the company to promote their footwear products in the market. Young men and women The various sales promotion techniques for targeting the young women and men in the market would be adoption of different ways to highlight the cutting edge fashions incorporated in the design of the footwear. The young men and women would be attracted to the new designs and fashions of the footwear promoted by Steve Madden, and this would help the company to survive in the competitive market. Another approach of sales promotion would be to offer competitive prices in the footwear market. The young men and women who are updated with the latest trends and information would be attracted