Shoes of Prey - Market Background - Case Study Example

Shoes of Prey Name: Course: Tutor: Institution: Date: Executive Summary Shoes of Prey is an online store that allows for the designing and purchase of customer designed shoes for women. Over the years, the company has experienced increased growth. This report offers a review of the organizational background, current market situation, and recommendation for five years growth. On one hand, the report reveals that the organization adopts both the traditional and modern marketing channels. With regard to its market niche, it establishes that it targets the fashion oriented customer base, with increased market and technology knowledge. Moreover, a competitive edge approach singles out the organizational design platform as its unique selling point. Consequently, the report recommends continuous improvements on this system as well as increased offline stores as the expansion strategic plan for the next five years. Table of Contents Executive Summary 2 Table of Contents 3 Introduction 4 Market Background 4 Retail Niche 5 Consumer Profile 7 Online Business Strategy 8 Competitive Advantage 9 Recommendations 10 Conclusion 11 References 13 Introduction Organizational performance and competitive strategies form a basis for Increase Corporation and existence in the market. In this regard, organizations operating in the global platform increase their performance and effectiveness by the day through increased market efficiencies. However, it is imperative for organizations to conduct internal and external environmental analysis on their systems to establish appropriate market structures for increased efficiency (Sama and Shoaf, 2008, p.42). This report evaluates the Shoes of Prey organizational internal and external structures analysis. Market Background An organizations background is an imperative organizational component in strategic planning. As such, an analysis of organizational marketing background reveals the historical perception and performance of the respective organizations. In this regard, the analysis reveals that it is imperative for the organizations to develop strategies to allow for forecasting analysis and efficiency. A marketing background analysis reveals that the organization has over the years adopted a liberal approach to marketing. In this case, the organization applies a blend of both the traditional and modern social marketing tools and strategies. On one hand, the organization relies on the print media and other formal marketing approaches to market and promote is products. In this regard, the approach reaches out to the large customer base hedged on the traditional marketing channels. The traditional marketing channels possess an increased number of customers as compared to the online platform. Merrilees (2001, p.178) conducted a study to evaluate the rationale for the retention and use of the traditional marketing channels and approaches in organizations despite the emergence of the new online marketing tools. In the analysis, the study established that the traditional marketing approaches allow for increased customer base access. Consequently, the study concluded that it was imperative and economically viable for corporations to adopt the traditional marketing approaches in order to retain their increased competitiveness in the market. Therefore, through the adoption of the traditional marketing approaches, Shoes of Prey Company has over the years gained increased market competitiveness through reaching out increased market competitiveness. On the other hand, the organizations adopt the online modern marketing approaches. In this regard, the organization adopts an approach through social marketing. In this regard, the online platform allows for increased market competitiveness and creativity. For instance, the organization used the 17 years old girl advertisement on its online marketing platform. Consequently, through the organizational blog and online social networks, the organization has increased its market competitiveness. With regard to its distribution network, the organization resulted to offline physical stores. Despite the increased merits of the online trading platforms, organizations in the market need physical avenues through which such factors can be evaluated and established. In this regard, organizational customers need avenues through which they can physically identify the products. In this case, Shoes of Prey Company collaborated with David Jones Company, an established global retailer, to provide offline services. Retail Niche A market niche represents an organizations market focus. In this regards a market niche outlines the target markets that the organizations serve. In this regard, a market niche represents an organization’s specific market. Abel (2009, p.435) conducted a market survey to elaborate on the need for organizations to establish and develop market niches. In this regard, the study developed a hypothesis that the identification of market niches plays a significant role in organizational performance. In its analysis and data collection, the study evaluated the difference in organizational performance between organizations that have identified and developed their market niches and those that are yet tom develop such strategies. In its analysis, the study established that there existed a direct relationship between organizational performance and market niche identification. In this case, it established that organizational market niches increased the organizational performance through increased targeting and creativity. As such, market niches increase overall performance. Market niche development and identification enabled organizations increase addressing of the market specific needs. In this regard, through the addressing of the respective specific market needs, organizations establish increased customer loyalty and satisfaction. The Shoes of Prey Company management realized and established the merits and rationale for the development and growing of a market niche. In this regard, the organization has its market in female. As such, it provides its services to the female fraternity. In particular, the organization has developed a specific focus on the market for the technologically advanced generation. In this case, the organization has established a market niche in individuals who cherish fashion and have unique shoe design desires. In this regard, the organization has established an increased influence in the market through competitiveness (Hamlin, 2000, p.1041). As a result, the organization has increased its focus on this target population. In this case, it has established structures and processes through which such a market niche is met. In this regard, due to the urgency of the market niche needs, such as special order for occasions such as weddings and other occasions. Consequently, the organization has increased its market influence through its efficiency in the market logistical structures. Consumer Profile An organizational analysis incorporates the internal and external structures in the market. In this regard, an analysis of the market customer base. Consequently, an analysis of the market customer base and consumers profile is an imperative analysis in the market that serves as an ideal rationale for strategic management in the market. A customer profile is an analysis of the customer base structures and features. In this regard, the customer profile analysis incorporates the concepts of the customer traits and features as well as lifestyle changes. On one hand, customer characteristics incorporate the lifestyle changes in the market. Wiedmann, Buxel and Walsh (2002, p.172) conducted a study to evaluate on the nature and features of customer profile that influence organizational overall performance. In this case, the study sought to establish an analysis of the effects and implications of diverse customer profiles in an economy. On one hand, the study developed a hypothesis that an increased customer profiling analysis increases organizational competitiveness in the market. On the other hand, the organizational customer profile analysis enhances increased market efficiency. On its part Shoes of Prey organizations has a wide customer base that has a diverse culture. On one hand, the market the customer base has increased market knowledge. On one hand, the customer base has wide technology knowledge. In this case, the customer base has enough market knowledge on the existing shoes production technology. In this regard, the customer base is aware of the existing market technology and design types. On the other hand, the customer base is technologically conversant. In this regard, the customer base has relevant technology knowledge and increased familiarity in the market conditions. In addition, the customer base is fashion reliant. In this case, the customer base is fashion oriented. As such, the customer base is fashion focused and geared towards evolving and developing new fashions. Consequently, the customer base is liberal in that it seeks to develop systems and approaches that increase fashion liberality. Therefore, briefly, the organizational customer base is a knowledgeable base that is geared towards developing and adopting new fashion designs. This implies that the organization requires an increased focus and investment in the market to enhance increased market competitiveness and the customer base focus. Online Business Strategy Globalization and technology have changed the market and operations application strategies. In this case, the approaches have changed the market trends, behaviours as well as the marketing levels. To this effect, the corporations increase their market competitiveness through the incorporation of these two aspects. On one hand, embracing globalization incorporates the adoption and targeting of the increased foreign markets. As such, organizations develop international approaches and strategies that allow for an increased customer base that translates into increased revenues. On the other hand, organizational competitiveness is achieved through the adoption of technology changes and focus in the adoption of increased technology aspects to increase business competitiveness. Berry (2013, p.57) conducted a study to evaluate the implications of the adoption of technology and online business strategies in increasing business performance. In this regard, the study sought to establish the nature and extent of implications in business performance. In its analysis, the study established that through the adoption of business enterprises in the market increases organizational overall performance. Consequently, the study concluded that the market efficiency in the market. The Shoe of Prey Company increases its market competitiveness through the adoption and establishment of an online platform. In this regard, the organization uses its online stores to sell out products onto the market. Through this approach, the organization meets its online customer clientele. Through these avenues, the organization directly sells out its products to the customers online. In this case, once payments are made on the online purchases, the organization presents a logistical approach to allow for the distribution of the products to the customers residence and location. On one hand, the online stores provide an avenue through which the organization earns increased earnings in addition to the offline store sales (Peslak, 2005, p.34). In addition, the organization has adopted a unique online strategy with the introduction of the shoe design platform. In this case, the organization has increased its market influence through the allowance for increased designing options for its customers. In this regard, the organizational online customers achieve increased market competitiveness. Competitive Advantage An organizations competitive advantage represents increased market efficiency. As such, organizational competitiveness represent organizational aspects that give it added market advantages and merits. In this case, the organizational structures represent increased features and operational aspects that distinguish organizations from others in the market. Consequently, organizational competitiveness represents increased market features that are unique to the respective organizations over others in the market. In this regard, organizational competitiveness s arise from a combination of both infrastructure and human resource factors. In this regard, organizations increase their market competitiveness through the incorporation of these factors and their continuous improvements through performance and systems appraisal programs. Consequently, through the adoption of these approaches, organizations increase their overall organizational performances in the industry Akimova, 2000, p.1129). Shoes of Prey Company has increased market competitiveness due to its unique approach in the shoe making industry. As such, the organizations increase their overall market performances that are hedged on the development and establishment of the appropriate designs in the market. In this case, the organization presents an online platform through which customers design their own shoe designs. Consequently, this offers the organization increased market competitiveness over other online shoe dealers. This is because the design option is unique to the organization and has not been replicated or adopted by others in the market. In this regard, the organization has received an increased and steady growth rate in its customer as and revenues. The established organizational competitive edge is sustainable. This is because the process is hedged on the core operations of the organization. In addition, the strategy is hard to enumerate by the immediate competitors in the industry making it relatively sustainable. Therefore, this review establishes that the organization is currently competitive and has its online design platform as the key unique selling point that allows for increased market performance. Moreover, in order to allow for increased market competitiveness, the organization should systems improvement systems. Recommendations Based on the above-established findings, it is apparent that the organization is highly performing in its current systems. In this regard, the recent organizational increase d customer base as well as the ever increasing revenues. In this case, the organization is relatively y stable in its performance. However, such a system needs continuous improvement to allow for future retained market competitiveness. To this effect, the organizational system needs increased improvements. Currently, the system has an increased alternative designs options. In this case, the customers can design of over 10 designs without purchasing any of them. Consequently, this increase decision challenges. To this effect, the organization acquires reduced revenues and results into reducing market revenues. In this regard, the organization can increase its performance in the next five years through the establishment of a design cap. In this case, the organizational customers should be restricted to about five designs above which a customer must purchase one of the previous designs. Consequently, this would reduce choice variety allowing for increased customer easy and speed (Moen, Bakås, Bolstad and Pedersen, 2010, p.21). In addition, the organization can increase its performance in the next five years through the adoption of an increased collaboration with the offline stores. As evidenced in the partnership with David Jones stores, the organization gained increased customer satisfaction and loyalty. Consequently, the adoption of offline stores increases the organizational exposure onto the market as well as creating a link between the organization and its customers (Munuswamy, Agil and Mohamad, 2013, p.290). Consequently, if the organization increases its offline stores, customer satisfaction, loyalty and increased market earnings will consequently increase. Conclusion In summary, this report analysis reveals that the Shoes of Prey Company is an increasing competitive online shoe company. In this regard, it establishes that the organization has adopted a unique selling point in the development and establishment of appropriate structures allowing for online shoe designing. In this case, the organization serves the female target market focusing on the fashion oriented market customers. However, the report review establishes that the market should establish structures through which the gained market competitiveness can be retained. Therefore, the report recommends the adoption of design number capping to increase customer-purchasing rates. References Abel, D. A. (2009). Marron growing: A western australian rural niche market? Asia Pacific Journal of Marketing and Logistics, 21(3), 433-446 Akimova, I. (2000). Development of market orientation and competitiveness of ukrainian firms. European Journal of Marketing, 34(9), 1128-1148. Berry, P. (2013). The impact of globalization and technology on teaching business communication: Reframing and enlarging world view, methods, and content. American Journal of Business Education (Online), 6(1), 57 Hamlin, R. P. (2000). A systematic procedure for targeting market research. European Journal of Marketing, 34(9), 1038-1052 Merrilees, B. (2001). Do traditional strategic concepts apply in the E-marketing context? Journal of Business Strategies, 18(2), 177-190. Moen, Ø., Bakås, O., Bolstad, A., & Pedersen, V. (2010). 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