Marketing Strategy Of Converse – Converse Marketing Strategy: It is Converse can be described as an American Shoe firm that was established in 1908. It manufactures Lifestyle label clothing, footwear as well as skate shoes. Since 2003, it’s been an affiliate that is part of Nike.
When the company was first established in the early years, it produced shoes for the general public. Later, after the war, the company began making shoes for the military. The brand’s distinguishing factor is the variety of distinctive attributes like the star-shaped emblem, the smooth rounded toe, and the All-Star’s rubber strip and wrap-around toe.
In 2003 Nike made a payment of $309million to purchase Converse. In the year 2010 Nike launched Converse on the market.
Did You Know About Converse?
Company : Converse
CEO: G. Scott Uzzell | Davide Grasso
Founder: Marquis Mills Converse
Year founded: February 1908
Headquarters: Boston, Massachusetts, U.S.
Annual Revenue: US$ 1.91 billion
Products & Services: Converse is an American shoe company that designs, distributes, and licenses sneakers, skating shoes, lifestyle brand footwear, apparel, and accessories.
Competitors: Vans | Fila | The Athletic | Allen Edmonds | Timberland.
Converse Fun Fact: They have so many colors to choose from, you’re bound to find one that you like from the classic all-blacks to more flashy colors. Converse also offers more personalized options on-line, like customizing your own pair with your choice of colors, and even adding some text on your shoes!
Marketing Strategy of Converse – Segmentation, Targeting, Positioning
The converse is the first shoe brand to boast that they invented the concept of self-expression. their footwear brand Chucks has this distinction on the market. According to the demographic division the age range is divided into three groups which are younger than 13 thirteen, 13-19 age group 20-35, and above 35.
The income is also divided into people with no earnings (students) and those who are middle or upper class. In the context of psychographic Segmentation, Converse is geared towards the aspirers, the materialistic, acquisitive, and those who are image-conscious.
Converse has also looked at users’ courses activities and is focusing on the behavior segments, such as fashion-conscious and outdoor sports fans and so on.
About the above segments about the segments above Chuck’s label has been utilized to focus on the two groups of age between 13-19 years old as well as the entry-level professionals aged between 20 and 35.
Chucks are made to appeal to male and female customers and come in a variety of styles for both. They also offer a non-sex collection to their customers. Chuck Chuck products are targeted at the middle and upper-income levels.
When it comes to marketing the products the primary focus is on younger people and those who belong to the “reformer”, “aspirer” and “explorer” based lifestyle.
The brand is advertised as a brand used by dreamers, artists as well as rockers, rebels, and even the originals. This is an iconic brand that is proud of its individuality. The brand tells its customers to be unique you should consider conversing.
It was previously marketed as a brand of athletic footwear however now it is being marketed as a “retro-modern subculture” and is an iconic shoe for young people. Its superior quality, well-chosen price ranges, and image have earned it an excellent position in the consumer’s mind.
The Chucks are promoted as a brand that is stylish and easy to understand. Converse has filed a lawsuit under the “Cultural Symbol Approach” to make Chucks more appealing to consumers and was named for the famous Basketball athlete Chuck H. Taylor.
Converse Mission Statement
Our mission. The converse is empowering today’s daring spirit of youth by celebrating freedom of expression through individuals and their movement
Converse Vision Statement
” Not Found “
“Let’s converse in colors. Art is never limited in the canvas.”
Marketing Strategy of Converse – BCG Matrix
Converse was acquired from Nike in 2013 for $305 million and Converse has grown by nearly 10 times since. According to Nike, the purchase of Converse was a fantastic decision that has helped Nike maintain its position as the market-leading brand in sportswear, and Converse is now poised for greater success.
Converse’s $2 billion in sales may seem small compared with Nike’s $32.4 billion, however, Converge represents Nike’s fastest-growing market and, with an 18 percent growth in sales YoY, Converse has helped Nike in its long-term plan.
Converge has proven to be one of the top investment opportunities for Nike and, as such, in the BCG matrix Converge is included in the category of “star.
Marketing Strategy of Converse – Distribution Strategy
Converse has many exclusive stores in major cities. It also sells its products via numerous channels. It utilizes the multi-channel method to make its products accessible to consumers. The United States itself has more than 75 retail stores across the United States.
It has employed the direct-to-consumer strategy in both the national well as international markets and is accessible in retail stores, factory outlets, stores with multi-brands, and on websites.
They are accessible through courses retailers like Amazon or Flipkart. Converse plans to launch more stores across the major cities of India. In the USA they are widely accessible at Walmart retail stores as well as Payless stores.
Marketing Strategy of Converse – Brand equity
Converse has brought back the vintage vibes from the eighties. This makes it more appealing to the younger crowd as well. This brand method has contributed to Converse to increase their shares of the market. The products of the company are identified with the star, and the brand’s logo is incorporated into the majority of their merchandise.
The shoes are also famous for their lining of the canvas. They are famous for their sneakers called Chucks that are reasonably priced and have a wide range of designs and patterns. The company’s position has allowed for an opening to a variety of future possibilities and current trends for Converse.
Converse’s worldwide revenue in 2018, was 1.89 billion dollars. In the rankings titled “Top 100 Brands for Millennials”, Converse ranks in the 84th spot. Converse is a well-known brand and a popular choice for millennials looking to show their individuality.
Marketing Strategy of Converse – Competitive Advantage
Name of the brand:
The shoe company was founded in 1908. In 1908, the All-Star shoe was the main product that the business produced. The distinctive image of the stars was popular with consumers all over the world.
Converse was also well-known due to its canvas-based shoes. Since the start of this brand, Converse has inspired people to create their shoes and attain the highest degree of self-satisfaction as well as comfort. Chuck Taylor, the Chuck Taylor shoe that was invented in 1932, dominated the industry of footwear.
The converse is now an iconic brand that can be worn at any time and anywhere, and has gone beyond the realm of sports into more stylish shoes that can match any outfit.
Converse has developed an intergenerational advertising strategy each generation has owned one or two Converse shoes at some time or another in their lives. The converse is aware that older generations have an emotional bond with the brand, so Converse employs storytelling techniques in their marketing campaigns. they may not be targeted exclusively to older generations but are designed to appeal to the general public.
Famous endorsements :
To appeal to the younger generations the company makes use of celebrities and influencers to engage with younger generations. The younger generations are made to be aware of Converse via their parents. Converse keeps the brand’s name in the minds of prominent personalities who have an impactful brand.
Celebrities interact with this audience segment by partnering with the brand and promoting the product on their profiles on social media or even appearing in the ads. In the past, Converse has collaborated with famous people such as Pete Davidson, Maisie Williams as well as Winnie Harlow, to name a few.
The company’s strategy of focusing on their brand and not competitors have worked to the advantage that of their brand.
Marketing Strategy of Converse – Competitive Analysis
The primary competition for Converse brands as Reebok, Nike, Reebok, Bata, New Balance, Woodland, Asics, Fila as well as Puma, and many more. New Balance has a high-end product that is more expensive in comparison to Nike, Reebok, or Adidas. Under Armour has a great brand value because of its outstanding results within its performance in the US market.
ASICS is a Japanese brand that offers the highest quality and a variety of athletic shoes. Companies such as Fila, Sketchers, Walmart as well as Ralph Lauren were sued because they were accused of replicating Converse’s trademark product that is the Chuck Taylor sneakers.
Converse’s primary competitor, which is capturing its market share, is Vans since they offer similar products to Converse and offer a greater diversity in their designs than Converse which is the main benefit that Vans can offer over Converse. Because of their designs, they offer excellent padding and cushioning that provides more durability, comfort, and a richer, more comfortable feeling.
Marketing Strategy of Converse – Customer Analysis
Converse seeks customers who are rebellious and daring. They believe that these customers will be extremely significant to their business. People who purchase converse are of all ages from the old to the younger generation, and everyone buys Converse due to the long-standing legacy of the brand and the values it represents.
The converse is an integral part of the past and will continue to be an integral part of the future, too. The people who purchase Converse tend to be impulsive with a great sense of style and opt for comfort. They are people who wish to take part in a shift and are awed by individuality and independence.
Marketing Strategy of Converse – Promotional Strategy
The converse is a label of Converse is based on numerous celebrities’ endorsements as well as marketing campaigns. Chuck’s shoe line has been promoted by numerous celebrities in the fields of sports, music, and entertainment. Converse has also established an image in hip indie/alternative youth music.
It employs the idea of storytelling to promote its marketing strategies. These stories are frequently shared by celebrities via their social media pages such as Instagram, Facebook, Twitter, and Instagram. It is the same across several popular social networks.
The brand also has a connection with music and promotes itself by identifying with the fads of iconic rock groups like Pink Floyd and so on. The brand has also launched a global connectivity campaign to highlight the history and legacy that the company has.