Sole Market Product Focus

Market Product Focus

Sole will be marketing to two separate target segments based on segmentation variables including geographies, demographics, psychographics, usage, and behavior. Sole’s two segments are the expensive fashion line and the affordable performance line. Both segments will target the same geographies. The company will target major cities including New York, Los Angeles, Chicago, Houston, Philadelphia, and Boston. The demographics will be different between the two segments. The fashion segment will target young adults, celebrities, and both the middle and upper class. The performance line will be marketed towards youths, teens, young adults, and the middle class. The psychographics will also be different for each segment. Sole’s fashion line will be target the night life. The company will target people who want to appear wealthy, stylish, and popular. On the other hand, the performance line will be marketed towards athletes who need a high quality sneaker that will not fail on the court. Also, these people will want a good looking sneaker that people will talk about, but not on the same level as the fashion seeking market. Next, behavior will be completely different between Sole’s two segments. The fashion segment will target potential buyers who will rarely wear their sneakers, only on special occasions. The performance segment on the opposing side will target potential buyers who will use their shoes daily for basketball purposes. Furthermore, usage will also be radically different between segments. The fashion line with target potential buyers who want to look cool and rich while the performance line will target those who need a shoe to play basketball.

Market and Product Goals

Sole’s long term market goal is to obtain a larger market share than Jordan. Sole’s product goal is to create a high quality, durable product. The fashion line will be endorsed and supported by celebrities such as rappers and fashion icons. People will associate high class money and top tier style with Sole’s fashion line. NBA athletes will endorse Sole’s performance line. Youth who look up to these athletes will feel they need Sole performance shoes to follow in the footsteps of these athletes. Overall, when people hear the name Sole they will think positive thoughts about quality, performance, and popularity, and if they fit into one of Sole’s target market they will feel they need to buy the product.

Market-Product Grid

Market Segments

Products: Sneakers

Fashion

Performance

Class

Upper Class

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