Ch. 7 - Business Marketing

Chapter 7 of MKTG: Principles of Marketing focuses on Business Marketing. Business Marketing, also called industrial marketing, is the marketing of goods and services to individuals and organizations for purposes other than personal consumption.



While shopping at Footlocker, the Business-to-Business electronic commerce is the common method used. Footlocker uses the social media platform to promote new sneaker releases and major sports events. Footlocker has an Instagram, Facebook, and a Twitter page. They all include direct links to footlocker.com where customers can buy any of the products featured on their pages. Footlocker uses the internet to facilitate most of all its selling, promotion, and advertising. This helps to reach its target audience and even people who are not apart of their target audience. Lately, everyone has an account with at least one of the social media platforms I mentioned earlier and that puts Footlocker ahead of the game being that they post daily on each and every platform as opposed to other sneaker retailers.

Ch. 11- Developing and Managing Products

Chapter 11 of MKTG: Principles of Marketing focuses on Developing and Managing Products. Products that are sold in footlocker are modified all the time. New sneakers, styles, apparel, and accessories are always coming out. According to the product life cycle, I would say that Footlocker is still in its Growing Stage simply because there will always be sneakers coming out according to the season and the audience. New ideas for any items that Footlocker sells will always come into play.

As long as companies like Nike, Adidas, and Puma continue to release new styles and sneakers, Footlocker will continue to be in the Growing Stage of the product life cycle.

Ch. 8 - Segmenting and Targeting Markets

Chapter 8 of MKTG: Principles of Marketing focuses on Segmenting and Targeting Markets. I would say that Footlocker uses a Concentrated Targeting Strategy because although there are many brands of sneakers, accessories, and apparel sold in footlocker, Nike has the closest relationship with Footlocker. For advertising, Footlocker focuses a lot on promoting new styles and sneakers that are of the Nike brand.

Nike would be Footlocker's niche, this is the brand that is focused on the most. Footlockers appeals to young men and women, ages 12-20, who are preferably athletic. Footlocker doesn't advertise much, only when there is a major sports event coming up, and they always make sure to feature what sneakers are coming out on their instagram page.

Ch. 15- Marketing Communications

Chapter 15 of MKTG: Principles of Marketing focuses on Marketing Communications. Some ways that Footlocker promotes themselves are during peak seasons like when School is approaching or there is a major sports event like the Super Bowl or All Star Weekend, they have Sports stars advertise for them in commercials and such as described in an earlier post. One thing that sets Footlocker apart is their competitive advantage, one of which is that they have a Triplex store on 34th street, a very bust tourist shopping destination in NYC. The store includes Lady Footlocker, Kids Footlocker, and Footlocker, there are three different inventories in the store and you can get something for the family in the same store. the importance of the three different inventories is that something that you can't find in Footlocker for a woman or a child, there is Lady Footlocker and Kids Footlocker right there at your disposal. One store may also have other colors in a specific shoe or clothing also.

Footlocker's biggest competitor is sneaker store Finishline, which is right across the street from the triplex store in Macy's. They are located on various floors of Macy's but they only sell sneakers, while the Footlocker's Triplex Store sells apparel, socks, sneakers, and sneaker cleaners.

Ch. 10 - Product Concepts

Chapter 10 of MKTG: Principles of marketing focuses on Product Concepts.

All products in Footlocker would be considered consumer products because they are bought to satisfy an individual's personal want or need. I would also say that most of the products at Footlocker are shopping products, most people who shop at footlocker know what sneaker they want, they just need their size and sometimes they're trying to decide on a color. Foolocker sells many brands of sneakers, in a way sneakers are Footlocker's product item, the different brands are the product line, and all other items like T-Shirts, socks, shoe cleaners, and Sweatsuits are part of the product mix.

Ch. 17 - Personal Selling and Sales Management

Chapter 17 of MKTG: Principles of Marketing focuses on Personal Selling and Sales Management.

Foot locker, INC. has a program for Customers called the VIP Program. It's a program where if you sign up for it, you receive coupons, first looks on new releases, access to exclusive products online, a birthday discount, and everything for FREE. It benefits both the company and the customer, it is building revenue for the company because when a customer knows they are getting a deal constantly, they will keep buying and that means more money for the company. It benefits the customer because they can get money off of most products that other customers do not have the luxury of. Also, when you spend a certain amount of money, you get a coupon, this drives customers to buy more so they can save more.

Ch. 16 - Advertising, Public Relations and Sales Promotion

Chapter 16 of MKTG: Principles of Marketing focuses on Advertising, Public Relations, and Sales Promotion. Since Foot locker carries many brands that are in competition, they don't advertise as much as the individual brands they have, do. They've gotten together with Adidas and Nike to produce advertisements. Foot Locker, INC. has advertising campaigns when they feel it is necessary. For example, in August, when students are going back to school, is the perfect time for Foot locker to advertise to young people about their newest products.

When they do advertise, Foot locker pulls people in by including some of the most famous basketball players and creating a series of commercials that tie together to tell a story but to also showcase their products. In August 2014, Foot locker released videos for their Short Memory campaign, featuring basketball player James Harden. James Harden's whole outfit could be purchased at foot locker, from his Nike t-shirt to his Nike tech sweatpants, to his Huaraches sneakers. A little more than two weeks after its release, it had 7.7 million views and was the most watched campaign to that date.

Here's the ad:

If it is not viewable, here's the link: http://youtu.be/he2t3zNCEgk

Sources

http://www.visiblemeasures.com/2014/08/18/here-is-foot-lockers-strategy-for-branded-video-success/