Enhancing the Market Plan
MKT 500 - Marketing Management
Dr. Adina Scruggs
March 11th, 2012
Just for Women has two direct competitors that are close to the Randolph, Massachusetts area.
* Parade of Shoes whose shoe styles seem not be cutting edge. The price range for their shoes are $30-$100 . They offer brand name shoes at a discount and customers can order shoes online and receive then next day or ground at an additional fee.
* Shoe Barn whose company tends to sell knock off brand just like name brands. Their shoe prices range from $10-$75. They offer kids and men shoes. Shoe Barns is a ...view middle of the document...
The advantage should be difficult to copy. A successful completive advantage adopted by one product is going to be emulated by others, if possible. Just for Women will use three general approaches to developing completive advantage: Cost- or price-based advantage- Achieving the low-cost position amount competitors does not necessarily imply lowering prices for competitive advantage, Quality-based or differentiation advantage-is to develop an observable differences that is valued by the target customers., and Perceived quality or brand-based advantage-Perceptual differential advantages can be conveyed using all elements of the marketing mix.
One of the purposes of performing a competitor analysis is to anticipate a competitor’s likely future strategies. A way of more formally incorporating this anticipation into your decision making is thought the use of a mathematical approach called game theory. Just for Women Shoes will make the first move by making a strategic decision to have all staff go through a 30 day training before getting on the sales floor so that they will have excellent training in there products as well as excellent customer service. Just for Women Shoes will offer buy one get one half on all shoes including Clarence shoes. Just for Women Shoes will use Text Alert to send out mass text message letting customers know of a sale, For example if business is slow, the store manager can send a message to 1,000 customers at once, saying come down to Just For Shoes ½ off on all shoes for the next 2 hours.
Customers needs are constantly changing, as are many other aspects of their buying behavior, such as the underlying process. Competitors are also changing, not only in who they are but in what strategies they used in the marketplace. The five key factors in the...