What is Skechers’ marketing strategy?
What is Skechers’ marketing strategy? When talking about the sports footwear industry, the fact that this market is led by brands such as Nike and Adidas cannot go unnoticed. However, Skechers’ marketing strategy has been strengthened and appears more profitable for investors.
We can´t deny that the mentioned brands are direct competition of Skechers. Nike exceeds 28 billion dollars in terms of its brand value. And Adidas is not far behind, with approximately 14 billion dollars.
However, Skechers has a great advantage: they know how to enter the consumer’s taste. All through its marketing strategy that we will explain in this post.
Who is the target audience for Skechers?
Skechers was founded in 1992 by Robert Greenberg after the sale of La Gear, a shoe brand that he had also created. Since the inception of this brand, its target audience has been well defined.
This is because they could clearly understand that people need footwear that allows them to walk comfortably. Something that they can use to go to work, walk, and even play sports.
That is why the Skechers marketing strategy has also been focused on encouraging people to wear this type of shoe you can use on various occasions. In this way, they have managed to stand out more in comfort than in style.
The target audience is made up of men, women, and children. However, it is women who most purchase the products of this brand. And about age, it ranges between 20 and 60year-old people who like the gym and follow trends.
Skechers market positioning
Skechers lives in a very competitive market and is explicitly led by Nike and Adidas. However, it is essential to note that, although the brand has a wide variety of products, there has been some talk about its footwear’. And that when the public buys a model, it does so for comfort.
Also, although Skechers doesn´t have many physical stores worldwide, this brand has considerable success in its sales in the US. Much of this success is because most of its consumers empathize with the relationship between quality and price.
If we talk globally, the brand has a commercial network with more than 900 points of sale that are spread over more than 168 countries. Therefore, the firm is the third-largest footwear group worldwide.
Skechers marketing strategy
This brand has achieved a lot of success, and Skechers’ marketing has had a lot to do with it.
Similarly, this brand has been well accepted and well received by its target, thanks to the following elements:
- It has maintained a good relationship between quality and price.
- It offers comfort through each shoe model.
- To reach the female segment, instead of focusing on fashion, it has introduced footwear that women can use for sports activities and other daily activities.
Strengthening your marketing strategy
One of the most essential elements of its strategy has been its collaboration with celebrities. These celebrities have played the role of brand ambassadors through campaigns. This element is very important because it encourages its fans to buy sports shoes from this brand.
Skechers Marketing Mix
Skechers’ marketing strategy follows a marketing mix model, and its application is carried out as follows:
The brand has focused on providing solutions to its customers to offer a quality product.
They have developed a design, name, and product with unique characteristics to differentiate themselves in the competitive market.
Also, this company has products for sale that have been divided into five categories, which makes them separate product lines. However, they sell all products under the brand name.
However, thanks to the variety of products and their highly differentiated characteristics, the customer has the opportunity to choose the most convenient.
Skechers’ pricing strategy is focused on evaluating the value of its products to meet the needs of its target audience.
Similarly, its strategy is based on competition, and all thanks to the fact that the data of its competition, such as Nike or Adidas, is public.
Thus, they can consider the costs for the establishment of the prices of certain products.
Indeed, prices are usually low on most of their products.
For the sale of its products, Skechers uses two marketing channels. First, they sell their products to customers directly, using their website. And the second is through its physical stores or by wholesalers who distribute the products to retailers.
Skechers, in recent years, has maintained a strong presence on social media such as Twitter and YouTube. And especially Facebook, as it is a communication channel with a broader reach.
Indeed, it uses other promotional channels such as the internet, and in a few cases, it opts for television.
Both channels are very advantageous for promoting because they have a great reach and attract a broad audience.
As we have already mentioned, it makes continuous use of social media to advertise online and at a lower cost.
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This is the Skecher’s marketing strategy. It is worth noting that this brand has managed to position itself high in the market. However, many marketing experts say it must innovate in its design and other factors.
Also, they can get more out of social media, considering that they have focused on advertising more on Facebook. However, it cannot be denied that the Skechers marketing mix has been of great support in keeping its potential clients aware of its new proposals.
At BluCactus Vancouver, we are at your disposal. And we can create the marketing strategy your brand needs to position itself in the market and reach your potential customers. You just have to contact us, and we will gladly assist you.
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