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The marketing strategy aims at heightening the sales of the latest product in the market, the Skaters shoes. The target group of the skaters is the teenagers. The aims of the strategies provided are to get and maintain the largest shares in the market.
Trends in teenage fashion are anything but predictable. The changes are quite unstructured. This is because teenagers have high and continuous expectations. Being at the prime of their lives they constantly need to look and feel good. One thing that is understood is that their preference is influenced by prestige and pizzazz. Teenagers may not necessarily want something that they identify with, but they want a product or service that will make them look trendy. Skaters, our latest product in the market, are shoes that seek to give any teenager the feeling of being a celebrity. Inspired by the look of roller skates, the shoes give an illusion of roller skate wheels on the mid sole. They are easy to wear and comfortable to accommodate the busy and adventurous life of a teenager.
The pricing strategy will first take a customer based approach. Penetration pricing technique will be applied. This is where a low initial price will be set. This price will be low relative to that of competitors and intended established price. This approach supports a new product in the market. This is because it encourages customers to prefer the product to other relatively higher priced ones. This will ensure that the shoes get a steady and regular clientele. Once an increased market share of the product has been achieved, the price of the product can be increased. This strategy will also help in the positioning of the product. Skaters are a prestigious brand of shoes that seek to avail status to teenagers that are not well off.