Various communication objectives were provided and the research analyzed the targeted market. The research provided the major selling ideas and also included the key benefits. Lastly, the researcher included a brief conclusion, which was a short summary of the research paper. Professional Application Introduction Steve Madden, which is a recognized footwear brand, faces challenges that need to be addressed in the integrated market communications (IMC) campaign. The choice of a product promotional blend requires an effective communication to the target market or audience; thus, it should be integrated well in the communications strategy since there are a number of techniques available in the market. Barger and Labrecque (2013) attempted to reveal the significance of integrated marketing communications as a marketing strategy for increasing organizational sales; hence implementing communication objectives is imperative. The paper has analyzed critical issues facing Steve Madden and revealed what needs to be addressed in the new campaign. Part 1: Background Analysis There are various critical issues facing the company, which need to be addressed in the IMC campaign. One of the main fascinating problems in many companies is the implementation of communication messages, which is poorly done by most marketers. Many companies fail to create an appealing message for advertising their products in the ever competitive business world; thus, they fail to achieve their business objectives effectively. Advertising is one of the effective business strategies for meeting the demanding needs of the targeted market and increasing the sales of the company. Thousands of companies have attempted to incorporate technology in the business process, such as the use of social media services such as Facebook, Twitter and many others; however, most of them have ended up failing due to poor communication messages. Hartley and Pickton (2000) argued that an integrated marketing communication requires a new way of thinking in order to achieve the demanding needs of the targeted customers. Therefore, the IMC campaign will address aspects such as the significance of developing an effective advertising strategy, need for defining advertising objectives, and setting advertising budgets in order to meet the demanding needs of the organisation efficiently. Another critical issue that faces the company and should be addressed in the IMC is competition. Competition is one of the major challenges impacting organizational performance in many industries across the globe. Among the major competitors of Steve Madden are Nike, Nine West and BCBG which also target diverse customers in the competitive market. However, the competition issue will be addressed and the audience will be informed about the ways of competing with their rivals in the competitive market. One of the effective ways of competing with the competitors is by using an effective pricing strategy, product promotion strategy, or differentiation strategy. Employing Porter’s five forces analysis that shapes the industry’s competition is vital because these forces can enable the company not only to determine their profitability but also achieve a competitive advantage. Lastly, the company also faces economic challenges due to the economic downturn of 2007 to 2008. The economic problem has contributed to increased rates of unemployment levels and the overall slow growth in the company; thus
Professional Application Name: Lecturer: Institution: Course: Date: Abstract The research paper analyzed critical issues facing Steve Madden Ltd. and revealed various issues that need to be addressed in the IMC campaign. The researcher also identified critical challenges including economic, competition and communication ones…
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However, the company is under threat from various entrants in the market such as BCBG that competes along the same lines as Steve Madden making points of differentiation less visible. Also, competitors such as Nike represent an untapped segment for Steve Madden- that of athletic and sport wear.
Introduction Steve Madden is a well-known footwear brand that has a wide presence in the retail markets of Houston. The company has a strong physical presence in the retail footwear industry of Houston and also conducts business in the online mode to sell its footwear products.
It also identifies critical challenges including economic, competition and communication. The paper discusses some of the communication objectives and campaigns that categorize target audience in terms of demographic, geographic and psychological factors.
Integrated marketing communication helps to exploit various platforms of media to market the products and services and reach wider database of customers. The Steve Madden Footwear would be using three different platforms: television advertising, sponsorship and social media to market its products.
The autonomy of professions has been under challenge because the market has tried to decrease it so to reduce their power and status. Also, trust has been replaced by target setting accountability as client-professional interactions have been limited in order for services and companies' profits to be increased.
Common wisdom -- in academic and popular circles alike -- asserts that managerial rationality represents the American industrial way, a natural extension of economic progress, and the inevitable outcome of universal business practices.
In the first place, how we think about ourselves and our political world from the outset exerts a pervasive influence over our political behavior.