Professional Marketing Application in Steve Marden Limited - Essay Example

? College: PROFESSIONAL MARKETING APPLICATION IN STEVE MARDEN LIMITED This research paper analyzes vital marketing issues facing Steve Madden Ltd. and brings to the fore various elements that are to be addressed in the Integrated Marketing Campaign. 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. Some of the best practice and ideas are looked into and the essential settlement of ideas is brought to the fore. A variety of communication objectives are provided. The research also analyzes the targeted market audience. In a nutshell the research paper in depth talks about the marketing strategies that could be employed by the Steve Marden footwear company that aims to break the barriers in its line of business and enjoy a more market base unlike its rivals. Introduction Marketing communication involves bringing the products of a firm to the market and creating awareness that the product exists. It also involves other relevant information by the suppliers to the consumers that could be improvements on quality or branding. Marketing communication consists of the place, price promotion and the product. Methods and techniques of promotion differ with the product and the number of people targeted. It considers the types or groups of people the advertisement is reaching out to, their age gap, the kind of media they are most likely to come into contact with most of the time. Steve Marden limited which is a recognized footwear brand aims to make use of the integrated marketing campaign technique so as to rise above their competitors and to also maximize their sales and realize better revenue. One of the most common issues that affect product marketing is the message relay technique. This is an Achilles heel in the Steve Marden limited company. Once a technical team is tasked with the aim of marketing a product, they have to give it an appealing marketing message that will bring out the curiosity effect amongst the targeted market. Here are a number of the technical techniques employed by the marketing team. Steve Marden Limited is aiming to break the barriers in terms of marketing its footwear products. It first needs to re-strategize the marketing department of the company so as to bring in the people who will drive the sales of the company upwards. The marketing team will need to come up with a theme or logo that defines Steve Marden Limited and defines the company amongst its competitors. These is a major step in allowing Steve Marden Limited to be the major footwear brand it aims to be. Brochures hold a lot of information that needs to be passed onto the targeted audience, and also they are easy to fold and pass around. Many can be created at the same time and provide for large coverage without being bulky. Direct mailing gives promotion a sense of personal touch. Mail can also be customized for different people accordingly so as to meet their needs and motivate them. Newsletters contain useful organizational information that needs to be communicated appropriately. Posters and bulletins as well provide a means to reach consumers. However they are often not paid attention and are effective when you place them strategically where the customers are likely to see and notice them. Posters should also be kept neat and made attractive to be noticed. Social networks that involve discussion groups are effective methods of promoting and advertising products. The social network is cheap to operate with and very fast media. It would involve sites like Facebook alongside company blogs and websites. (Belch & Belch, 2012) Television can sometimes be quite expensive; however, it is a very effective medium as it reaches a very extensive population and grows in popularity with time. Radio on the other hand is also an effective tool of advertisement as it reaches a good population. Even so, it is hard to put down the visual content of an ad on radio and therefore it is useful as a first source of communication before consumers have to get on to the actual written form. This reduces on the effectiveness of the radio medium. All in all they are much cheaper compared to television ads. To pull through with an advertisement on an environmental friendly footwear product, it is important to consider a combination of certain forms of media which would include brochures and the radio media. It is important to obtain good representation of the product on the paper and provide with all the relevant information about it the brochures are effective since more information and actual drawings of the product can be availed. The next step is to find a good distribution plan that could involve supermarkets and firms offering those brochures. To promote a new brand of footwear products would require a technique of advertisement that would reach a certain population of footwear lovers. Television ads are useful for a certain period since footwear brands are majorly an interest to the general public. The companies’ newsletter provides useful information that is normally updated on a regular basis. Television adverts are useful as well in letting the public on new models since companies like Steve Marden Limited are already at a high point in the industry and the main aim is to maintain an image than create one. The company could use a mix of most of the media techniques. It could also incorporate web pages and the actual footwear website. The internet advertisements not only aloe for the public to view the models available but also purchase them. The website is especially useful since it allows for a global platform and market. The companies promote themselves by allowing for buyers overseas to order and do transactions online and by delivering the products as per the agreements. This way the companies gain loyalty and trust from other countries.(Clow & Baack, 2012). The government is also supportive of exportation transactions since it gains from it by taxation during foreign exchange. The image of companies like Steve Marden Limited continues to grow from good advertisement strategies and the network becomes a topic even when it is not a cost for the company. To advertise hybrid footwear would also involve the mix of different techniques of promotion to maximize the chances of awareness and reach out as many people as possible. It could involve television advertising and social networking advertisement. When combining various methods it is good to utilize cheaper methods amongst those that seem expensive like television ads. It is also advisable to incorporate other media tools like writing to the editor. (Foote, 2012) The organizations public image on the other hand is a continuous investment in promotion. This is because they create popularity for themselves and have to put only little effort in its marketing strategies. Public relations are created by improving on the image of the company by providing consumers with high quality service. It also involves working with the society in projects like building schools and sponsoring community activities such as security and safeties as well as being friendly to them by using slogans such as we are do not sleep so that you may. Such slogans are used to show firm loyalty to its people and maintain a good image for them. For a local product, brochures and local rallies are a good technique to advertise in the regions. These brochures are flied all over neighborhoods by the staff of that to obtain a good image. Posters could also come in handy while slogans that make it appear more new in the area and so better are likely to push it ahead. (Kotler & Keller, 2012) While promoting the local product, offering cheaper subsidies is a way of inviting many customers. The local footwear product would be priced a little lower compared to its competitors while still making reasonable profits. To lower the prices would create more customers for the firm and popularize it before slowly getting to the actual market. The company on the other hand can incorporate students and other young people to work with it. While offering jobs to them they also popularize themselves amongst the population and strengthening their ground on consumer loyalty. While promoting a product by a charity organization that seeks to minimize costs, it is good to utilize daily routines like the social network sites. The company could use this opportunity to market itself and market its products by empowering the members involved in the charity organization. (Malefyt & Morais, 2012) This is a key method that has seen many companies worldwide increase their sales in massive volumes and in the mean time also build a huge customer base as many people have always lacked the direction in which they could channel their donations and empowerment of charity work hence they may take this as a chance to incorporate themselves in the company’s charity work. Advertisement is basically an everyday routine that is needed for almost every cause. Companies like Nike have taken it upon themselves to sign multi-million contracts with sports and movie celebrities like Cristiano Ronaldo and Brad Pitt to market their products globally. The celebrity’s public image is a major attraction to the sportswear for that company. Many soccer fans would end up buying the sportswear from the loyalty and trust they have developed in Cristiano Ronaldo. The soccer player as a quasi-representative of the specific products of the company would only establish a stronger ground for Steve Marden both in the local and international market. The more the public figures the company uses the more the public is convinced that Steve Marden Limited is the best with products. The idea will directly gain an audience with the population of people who use sportswear both popular and the unpopular. The marketing strategies have become a useful method of reaching out for the public and spreading goods. (Rodgers & Thorson, 2012) The government has been involved in marketing as well by promoting institutions that train marketing. The governments subsidize on the costs of such trainings and tax institutions fairly to enable them continue with their cause. The government by itself utilizes marketing as a tool to promote its information. The government uses social marketing to reach out to people on matters concerning public health and security measures. Non-governmental bodies have also used social marketing to promote their campaigns on the environment and gender equality issues. Both the government and nongovernmental organizations use platforms such as television and radio, brochures and web pages. Social network not only brings matters into the light it also allows for them to be maintained in the same. Social marketing therefore allows for a follow up on the government goings and keep development issues on check. Social marketing demands that one knows their population as well as any other marketing technique. It is important in integrating methods of marketing all in all. Government departments such as health promoting facilities as well as federal agencies in different countries like Australia, US and United Kingdom have taken to social marketing as a method of promotion. Conclusion The new and old marketing and advertising mediums used are both a great and effective way that when and if employed by Steve Marden Limited, will truly make the company make huge leaps in the industry. Employing Porter’s five forces analysis that defines the industry’s competition is essential because these forces can facilitate the company not only to determine their profitability but also achieve a competitive advantage over its competitors. References Belch, G. E., & Belch, M. A. (2012). Advertising and promotion: An integrated marketing communications perspective. New York: McGraw-Hill/Irwin. Clow, K. E., & Baack, D. (2012). Integrated advertising, promotion, and marketing communications. Boston: Prentice Hall. Foote, C. S. (2012). The creative business guide to marketing: Selling and branding design, advertising, interactive, and editorial services. London: W.W. Norton. Kotler, P., & Keller, K. L. (2012). Marketing management. Upper Saddle River, N.J: Prentice Hall. Malefyt, T. W., & Morais, R. J. (2012). Advertising and anthropology: Ethnographic practice and cultural perspectives. London: Berg Publishers. Rodgers, S., & Thorson, E. (2012). Advertising theory. New York: Routledge. Read More