Founded in 2002, Crocs has emerged as a prominent player marketing & distributing Casual Lifestyle foot wears and accessories for all in more than 90 countries and had sold more than 500 million footwears since its inception.
All Crocs shoes featured with innovative Croslit material, a proprietary and patented feature, revolutionary technology that gives each pair of shoes the soft, comfortable, lightweight, non-marking and odor-resistant qualities.
Table of Contents
Segmentation, targeting, positioning in the Marketing strategy of Crocs –
Crocs use psychographic and demographic segmentation strategies with variables such as age, gender, location, marital status and income groups so as in order to serve the changing needs of the consumers in a better way.
Targeting strategy is used by the companies to understand that whether to have same products for all consumers or different products for different customer groups. Crocs use differentiated targeting strategy to target customers who look for casual styled footwear, those who look for mix and personal look styles.
Curious about Crocs’s recent market performance?
Record Financial Growth: In 2022, Crocs achieved record annual revenues of $3.6 billion, marking a significant increase of 54% compared to 2021. This substantial growth underscores the brand’s successful marketing strategies and its ability to resonate with consumers globally. (Source: Crocs 2022 Annual Report)
Innovative Collaborations Drive Sales: Crocs’s innovative collaborations with popular brands and celebrities, such as Post Malone and Justin Bieber, have played a pivotal role in boosting brand visibility and driving sales. Limited-edition releases have consistently sold out within hours, demonstrating the effectiveness of leveraging influencer partnerships in modern marketing. (Source: Business Insider, 2022)
Positioning helps in understanding where the brand stands in the mind of the consumer. Crocs use value based positioning strategy to position itself as a brand offering comfortable and styled casual footwear products which suit customer’s personality.
Marketing mix – Here is the Marketing mix of Crocs.
Mission- “Not Available”
Vision- “Everyone Comfortable In Their Own Shoes”
Tagline-“Come as you are”
Competitive advantage in the Marketing strategy of Crocs –
Focussed Product Range: Crocs have limited number of product offerings such as clogs, sandals like flips & slides in its product portfolio which is helping the company to be focussed. It is one of the 10th largest non-athletic brands globally.
Strong & integrated supply chain: It has sold more than 55+ million pairs last year through its wholesale, 500+ company owned retail outlets and e-commerce websites. It closely works with its logistics networks for operational efficiency and optimising its distribution channel.
Association with celebrities: The Company have a strong presence in the social networking sites with more than 5 million followers and the brand has been associated with celebrities such as Drew Barrymore, John Cena, Yoona Lim and Henry Lau in the recent times.
BCG Matrix in the Marketing strategy of Crocs –
It operates in three business segments based on geographic nature of the operations i.e. America, Asia-Pacific and Europe. It’s American and Asia Pacific business is Stars in the BCG matrix contributing 45% and 38% of the total revenue of the company in the year 2016 while its Europe operations are Question mark in the BCG matrix as it only contributed 17 %.
Distribution strategy in the Marketing strategy of Crocs –
Crocs distribute its footwear in three major regions Europe, America and Asia-pacific through distribution channels such as retail outlets, Company owned outlets, E-commerce sites, and wholesalers. As of December 2016, it has 556 company owned retail stores globally.
It enhances its supply chain by integrating its distribution and logistics network
Brand equity in the Marketing strategy of Crocs –
Crocs is known for its iconic clog-style shoe that accounts for more than 45% of its footwear sales. Crocs are sold in more than 90 countries and it does business in more than 30 languages.
Competitive analysis in the Marketing strategy of Crocs –
The global footwear market is highly competitive. The company compete with global players in the industry like Nike Inc., Reebok, Adidas, Sketchers USA, Wolverine World Wide, Inc., and Steve Madden, Ltd etc.
The companies compete in the industry based on the factors such as Product design, quality, pricing, customer service, brand awareness, marketing & distribution.
Crocs faces competition from the local national and international players who have similar offerings and designs of footwear.
Market analysis in the Marketing strategy of Crocs –
Due to the presence of counterfeit products & high bargaining power of customers, it is very difficult for these players to sustain in the market.
Due to the presence of counterfeit products & high bargaining power of customers it is very difficult for these players to sustain in the market. The industry is growing due to changing lifestyle, the growth of the developing nations, the economics of the population & their migration from Rural to urban areas but at the same time demand supply mismatch & idle inventory is resulting in shrinking margins of the players in the industry.
Customer analysis in the Marketing strategy of Crocs –
Crocs customers consist of upper & middle-class social groups. To be successful across consumer segments, Crocs uses the strategy of mass production or mass marketing. It provides the consumer with a product for all season that is comfortable, colourful, and innovative styles.
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