Marketing Strategy and Market Research Analysis
Shrutika Khatavkar
Brand Designer
Brand Strategist
Canva
Social Media
Marketing Strategy and Market Research Analysis for launching a sneaker reselling brand in India
While performing a role in a marketing agency startup in India, I was responsible for developing a marketing strategy plan for a sneaker resale brand that was in its early stages of business development. The brand was aiming to launch for the Genz TG, a demographic that is more focused on branded footwear, and wanted to resell it in India.
The brand's overarching objectives were as follows:
1. Competitive Edge: Positioning itself to compete effectively with existing sneaker reselling brands in the market.
2. Distinctive Appeal: Developing a unique selling proposition (USP) to garner greater attention and engagement compared to competitors.
3. Youth Engagement: Focusing on attracting the younger generation as their primary consumer base by aligning with their preferences and lifestyle.
4. Establishing Trust Factor: Building a trustworthy brand image in a short timeframe, emphasizing reliability and credibility in the eyes of consumers.
5. Quality Assurance: Ensuring the delivery of high-quality products to instill confidence in customers and differentiate the brand based on product excellence.
6. Introducing Dynamic communication: Establishing the Brand's communication language dynamically to get traction from youth.
Methodology used for Designing a Brand Strategy:
1. Comprehensive Market Research:
Conducted extensive research on established brands within the sneaker reselling market to identify key competitors with a strong consumer base. This analysis aimed to anticipate challenges and opportunities for the new brand upon launch.
2. In-depth analysis of Competitors' Marketing Strategies:
Delved into competitors' marketing strategies, particularly on social media platforms, to understand their content style and promotional tools. This examination provided insights into successful approaches and areas for differentiation.
3. Market Trend Assessment:
Examined current trends in the sneaker reselling industry, evaluating demand and supply dynamics. This critical analysis contributed to a nuanced understanding of the market landscape and informed strategic decisions.
4. Offerings Evaluation:
Scrutinized the product and service offerings of existing brands to gauge consumer responses. This study provided valuable insights into the preferences and expectations of the target audience, facilitating the development of a competitive and appealing product lineup.
5. SWOT Analysis:
Conducted a thorough SWOT analysis for the identified competitor brands. The insights derived from this analysis were leveraged to formulate a unique selling proposition (USP) for the client's brand, aiming to capitalize on strengths and address potential weaknesses in the market.
By following this methodical approach, the brand strategy was informed by a comprehensive understanding of the competitive landscape, market trends, consumer preferences, and a strategic analysis of the strengths, weaknesses, opportunities, and threats within the industry.