12/30/2019 0 Comments
The Marketing Plan of Crocs Shoes - Assignment Example The company is also planning to penetrate in the existing markets to increase its sales. Â The company has been growing at a rapid pace since 2002. The company has expanded its operations to 125 countries (Cross b). With the increasing sales of the company, the company has been successful in increasing the market share. The sales and profitability of the company are presented in the figure below: Â Recession influenced the sales of the company as the company had shown a significant increase in the revenues and profits from 2006 to 2007. However, from 2007 to 2009, the sales of the company declined. From 2009 and onwards, the sales and profitability of the company have been increasing. Â The company offers casual footwear for people of all ages including women, men, and children. By now, the company has sold more than 200 million pairs of footwear (Cross a). Some of the major competitors of Crocs are; Deckers Outdoor Corp. and Steven Madden (Sharma). The following image presents the revenues of the three companies; Â The company has been expanding its operations globally. To capitalize on the opportunities in the global market, the company has been using different strategies including joint venture and acquisition. For instance, the company acquired Jibbitz, Ocean Minded, Tidal Trade, Fury, and others to expand its operations. Â It is important for Crocs to improve the brand awareness. It has been identified that the company is relatively new in the market and many potential customers do not recognize the offerings and quality of the products of the company. Â Promotion would be crucial to the success of the company in the next few years. The company needs to increase the brand awareness and portray a better brand image in the eyes of the consumers. Therefore the role of promotion will be significant. Â
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