Marketing case study

Marketing mix

Marketing mix is a set of decisions needed to be considered before introducing a product into a particular market. In determining these decisions, there are a number of variables that need to be considered when introducing a new product into a market or re-introducing an old product into a specific market. These variables include the product itself, the anticipated product price, the promotion the product would receive and finally, place of distribution of the product. However the successful launch of the product depends on the competitive analysis of the product.

Product: market and competitor analysis

Market and consumer analysis involves assessing the strengths and weaknesses of a products competitor in a given market. The main aim of this analysis is to provide the products producer with insight so that they can equip themselves with strategies to identify both opportunities and threats that may be presented by their competitors. Other than that this analysis helps develop insights on all aspects of the business such as the competitors of the product.

Segmentation

Demographics

As was the case with the hunter boots, it was recognized that the shoes not only had to be sold to an older customers. By observing the market, it was noted that marketing the Wellington boot to a younger customer base (both male and female) would be more profitable to the company. Prior to this discovery, the Wellington boot was only bought for practical reason such war boots and later transferred to uses by farmers and horse stall mucking, and not as a trendy fashion statement.

By observing the market and analyzing the competitors Mullen was also able to come up with a special price for the re-branded fashionable boots. Prior to this change, the boot was being sold at a very high price. However, the price of the boot went lower once the company was moved to china from Scotland. This meant that more people would be able to afford the boot.

Psychographics

Psychographics involve the use of psychological, sociological, and anthropological factors to determine and attract potential consumers. Once Mullen had modernized the Wellington boot and set its price 20% lower than the original price, he went a set further by introducing versatility of the boot by introducing it in more color ranges as well as intruding the boot in new liners and textures versions. This appealed to the younger trend-setter demographic of consumers. He also decided to bank on the boots history with royalty to target the young social-climber demography that liked to emulate royalty. This gave the product an added advantage in the market by ensuring that the boots even though they were sold at a higher price appealed to that specific demography. This was unique given the fact that the boot had once been commissioned for the British royalty and a few of the royal family members had been spotted out in the public with the boot.

In his research, Mullen noted that the production of boots was a bit on the expensive end when done in Scotland, therefore, the company shifted its production to china which ended up saving a lot of the company’s production costs. This enabled the company to be able to lower the price of the boot without having to incur losses.

In keeping up with the boot manufacturing environment, the wellington boot was introduced into the market in 25 new colors and would be found in either long or shorts sizes. This not only helped the product keep up with other designer boots that had been dominating the boot industry, but they were able to appeal to that specific demography who no longer needed boots for practical purposes but also for a fashion sense. The company played on the curiosity of the people with regards to royal trends to forge ahead over their competitors.

Positioning

Finally, through the analysis of the products market and competitors, Mullen started targeting the marketing of the newly branded boot. Not only did the company introduce the new boot to store chains all over Britain and America, but he continued marketing his brand through events. Finally the company through its other connections was able to land mentions in world famous fashion magazines which went a long way in advertising the new refurbished Wellington boot. The company received major boosting from famous trendsetters who wore the boot is a very unique way. Due to the popularity of the trend setters, people who looked up to them fashion wise purchased the boot so that they can keep up with their trend setters. This also went a long way in establishing the position of the boot in the market.

Re - brands for new product  

Rebranding is a marketing strategy that usually involves a new aspect to an already established brand with the intention of creating a new image that is totally different in the minds of a specific potential market. Rebranding may take different approaches depending on what the products owner aims to achieve as the end result.

In the case of the Wellington boot, it was noted that the boot would appeal to a younger, trendier demography. So the company decided to pick the shoe that was once used for going into war and by British royalty and made it available to the younger public. This was achieved by producing the boot in 25 other colors as compared to the previous black and brown only. The shoe was also modified so that customers could purchase it in either the customary long boot or a shorter version. Finally, the company made the shoe more comfortable by introducing new boot liners and textures for the boot. By the end of the rebranding of the Wellington boot, not only the boot undergone a total transformation and would be readily available to target consumers at affordable prices but had retained the old Wellington boot feeling but its demand went up in the market.

Rebranding worked as an advantage to Mullen whose first venture into modernizing the Wellington boot had failed due to the bankruptcy. It therefore gave the company a new lease which is generally what rebranding does to companies.

Innovation in Marketing  

Innovation in marketing involves the creativity in marketing of a product. This may involve the introduction of a specific older product into the market but as a new product or bringing in a totally new product. Whichever way chosen, the bottom line is that the product needs creative ways in which it may be launched into the consumer market.

New product development

New product development is the process that involves introducing a totally new product into a market. The process involves coming up with the product design then performing a marketing research the analysis. When Mullen was presented with the idea of developing the Wellington boot so that it could be used by a younger trendier demography he went for it despite that fact that for years the boot had been used for other non-trendy functions such as firming. This meant that the company had to totally change the image of the boot to less functional, trendier footwear. This process is known as idea generation. After an idea is generated, it is screened. The screening of the idea involves looking at the target market and the market in which the product will be launched in. in this case the boot was targeted towards the young trendy generation and the boot would be launched into the already booming fashionable boot manufacturing industry. The company even considered the feasible technicality of manufacturing in Scotland and moved this to china.

The company then has to conduct a business analysis, concept development and finally the marketing testing of their idea. When the new wellington boots had been manufactured, Mullen carried out a test run by placing the boots in a retail chain during a period when he was sure a lot of people would see them. This worked as a charm and soon people were buying them. Test runs are good because they test the consumers’ gravitation toward the developed product and the amount the consumers would be willing to part with for the product.

Once the products pilot testing is done and has managed to be successful, the company has to then develop the technical implementation. This would involve ways in which the product would be distributed for sale. Mullen collaborated with different store owners in both Britain and America that ensured that the sale of the new boots would be ensured.

Finally, for any product to successfully sell it needs to have sufficient commercialization. This comes in the form of advertisements and other events that would make the product known to the public. Mullen not only ensured the appearance of the wellington boots in international fashion magazines but also used the boot to sponsor events. The company also went a step higher and used the boots royal history as a way to attract customers to the boot.

This showed the commitment of Mullen to raising a brand that was once known as a functional ‘dirt’ boot into a fashion icon that has brought the company a lot of pre tax profit in the first three years since the conception of the new trendier wellington boots.