In: Operations Management
Analysis of the 4 Ps of the Marketing Mix based on Shoe Carnival, Inc.
a. Product: i. List the company’s primary products or product lines (if there are numerous products falling into many product categories).ii. From which product line, or lines of business, does the company generate most of its revenue? Describe the primary target market of the business. What is the value proposition that the company offers this target market?
b. Price: What is the price (or price range) of the company’s products or product lines? State by product or product line.
c. Placement: What is the, apparent, placement (distribution) strategy for the products or product lines?
d. Promotion: How does the company promote its product or product line? How does it communicate with its customers?i. Describe the promotion mix.
A. Product:
i. The Shoe carnival is a American footwear retails store which locates its stores approximately in 35 states. There are other products which are sold by Shoe carnival are footwear care products, shocks, belts, handbags, backpacks, jewellery, sports bags, scarves, wallet.
ii. As it main concept of business is selling family footwear both online and offline. Therefore most of the revenue is generated from the footwear of athletic product represent 53% from total sales by 2017.
The target of the business is to increase the rate of growth by opening stores in different locations i.e in malls, enclosed areas and now they are planning to open small stores which are useful for small communities across the country.
The another target is the increase in the proper supply of goods through e - commerce and making the purchase of goods easy.
B. Price:
The prices of the products and product line are moderate and discounts are provided on sales which helps the costumers curb their expenses and it is not possible to price of each and every product the range of the products is provided they are as follows:
Women / Men / Children athletics starts from basic $20 to maximum $140.
Women / Men / Children boots - $15 to $145.
Women / men / Children sneakers - $20 to $176. Etc that is the minimum starting price of products is $15 to $20.Cuteness.
C. Placement :
The availability of the goods with the company stores and the goods which are seasonal will have huge demand in respective seasons so goods are to be maintained by First in First out k (FIFO) basis. The products are to be maintained at right time, place and quantities. For example products related to Easter, Christmas etc
D. Promotion :
Shoe carnival provides online coupons and series of in store promotions to keep the loyal customer who keep on shopping. It also provides Shoe reward club by which on each purchase points are added after some cumulative points these can be redeemed for product purchase.This promotions communicate with the costumers about the products which are provided and the services rendered by the company to satisfy them by giving discounts, coupons etc and providing branded products.
Production mix: It is one of the P in the 4P's Marketing mix and consists of advertising, public relations, personal selling and sales promotions. It is defined as the different forms of communication used by the company to establish meaning of the product and as well as to influence the targeted costumers buying behavior by providing the information about values and benefits of the product which helps to gain leverage in the competition, which ultimately helps to drive sales.