Positioning your footwear product correctly in international markets is vital for achieving export success. Today, we delve into the process of identifying and establishing your product's positioning, using examples from the footwear industry to illustrate effective strategies. Understanding how to position your product can help you differentiate it from competitors, attract your target market, and ultimately increase your export sales.
Understanding the Footwear export Market Trends
Before determining your product's positioning, it's essential to understand current market trends in the footwear industry. This includes analyzing consumer preferences, competitor strategies, and emerging market segments. For example, Nike identified a trend towards athleisure footwear and positioned their products as stylish and functional for both sports and casual wear.
Identifying Unique Selling Proposition (USP)
Your product's positioning should be based on its unique selling proposition (USP) - what sets it apart from competitors. Nike's USP includes innovative technology, such as Nike Air and Flyknit, which provide superior comfort and performance. Adidas focuses on sustainability and fashion-forward designs, while New Balance emphasizes comfort and fit.
Target Market Segmentation
Segmenting your target market based on demographics, psychographics, and behavior can help tailor your product's positioning. Nike targets a wide range of consumers, from athletes to fashion-conscious individuals, by offering a diverse product range. Adidas focuses on urban youth culture, while New Balance caters to an older demographic seeking comfort and durability.
Brand Image and Reputation
Your brand's image and reputation play a significant role in determining your product's positioning. Nike's association with top athletes and innovative campaigns reinforces its image as a performance-oriented brand. Adidas's collaborations with fashion designers and celebrities enhance its cool and trendy image. New Balance's reputation for quality and comfort appeals to consumers seeking reliable footwear.
Pricing Strategy
Your pricing strategy should align with your product's positioning. Nike positions its products as premium offerings, reflected in higher prices compared to competitors. Adidas offers a range of products at different price points to cater to various consumer segments. New Balance positions itself as a value-for-money brand, offering quality footwear at affordable prices.
In conclusion, like many other induustries, achieving the right positioning for your footwear product in international markets requires a comprehensive understanding of market trends, a unique selling proposition, target market segmentation, brand image, and pricing strategy. Studying successful brands, such as Nike, Adidas, and New Balance, can provide valuable insights into developing a strategic approach for your product and achieving export success. However, it's important to note that positioning is just one aspect of a successful export strategy. To truly succeed in export, a comprehensive Export Sales Strategy should be established, encompassing all aspects of the export process, from product development to market entry and beyond.
References
Kotler, P., Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
Armstrong, G., Kotler, P. (2019). Marketing: An Introduction (14th ed.). Pearson.
Aaker, D. A., Joachimsthaler, E. (2000). Brand Leadership. Free Press.
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