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Professional Application Name University Abstract The paper deals with the sales promotional strategies of a company under consideration. The different demographics of the target customers will be discussed. The paper will analyze the different promotional measures which will target the customer base of the company…
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 policies 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. ...
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