Write 2 pages thesis on the topic mercury shoes strategy. The industry information that Mercury is using is far too old to be of any use to the company. A market report cites increasing consumer confi
Write 2 pages thesis on the topic mercury shoes strategy. The industry information that Mercury is using is far too old to be of any use to the company. A market report cites increasing consumer confidence as the global economy continued to emerge from the post-9/11 recession (A $500 million opportunity in womans better apparel, 2004). Today, financial markets throughout the world are going through convulsions as virtually everyone wonders what the future will bring, whether it will be a corrective recession or full depression.
Analyst Support
Ellen Blake of Denbleyker Financial notes in her analysis of the company that “Q4 earnings dropped slightly below expectations during 4Q due to a variety of small economic and execution surprises. Management appears to have a good handle on these issues now, and we believe that the stock is a good value at these prices” as Denbleyker Financial raised its assessment of Mercury stock to “Buy” on January 2008.
Key Issue
The key issue for Mercury at present is to preserve its current market share as it builds for the future through by creating a niche that attracts “tweens” and teens as loyal customers.
Reason Why Key Issue Is Key
Mercury does not present a threat to Nike and Adidas since it only comprises 9 percent of the global market. thus, it will not be watched by bigger competitors so it is free to chart its own course. However, it has not yet achieved a double-digit share of the global market among adults. The shift should focus on the “tween” market – those who have parents buy shoes for them now, and who later will buy their own. This market segment when taken cared of can be a solid base of customers in the long-term.
Available Alternatives
1. Continue with current marketing efforts to adult markets and maintain current market share, however, due to recession, marketing tactics should be made. Preserving current market share also will preserve the upward trend in total sales.
2. Focus solely on adult markets so as to strengthen the campaign.
3. Maintain adult focus, but add specific marketing efforts to the tween markets in all locations.
4. Do nothing different, but continue with the present course.
Recommendation and Conclusion
The third alternative is the choice which is continuing current adult focus but also increasing attention to “tween “and teen markets. This is supported by a large study indicating that outside of school hours, each week “people between the ages of 13 and 24 spend 16.7 hours online … 13.6 hours watching television, 12.0 hours listening to the radio, 7.7 hours talking on the phone, and 6.0 hours reading books and magazines” (Kruger, 2005. p. 28). These figures indicate that specifically marketing to younger market segments will require an increased online presence. As stated, those over the age of 13 currently spend more time online than they do watch television (Kruger, 2005). In addition, an entertaining website with a blog on tweens footwear that tweens pass among themselves and forward to their friends will serve the promotional needs of the company quite well.
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