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Vans Analysis

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Submitted By 12643890
Words 437
Pages 2
Vans
Flow:
1. Background information 2. Client analysis (SWOT analysis) 3. Comparison with its competitors (Perceptual map)+ suggestions 4. Customer analysis (Market segmentation)+ suggestions

Background information: (30s) • An American brand since 1966 • Apparel industry • Starting to sell classic skateboarding shoes when the huge skateboarding era (1970s) hit the States • It is considered as the largest extreme sports clothing company in the world

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Vans SWOT analysis

Strength • A well-known brand with strong reputation (Vans has been in business for over 40 years) • Not too expensive for the consumer, great product pricing comparing with other brands • High product quality / High perceived value (cushioning, durability, reinforcement for skateboarding) • Strong distribution chain (Online shopping, About 76 places for selling included official stores and authorized dealers) • Customer satisfaction • Good return policy
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Weaknesses

• Depends strongly on its footwear

• Depends on mostly skateboarding style of clothing (Shoes, clothes, socks)

• A Lack of innovation, hasn't been able to penetrate emerging markets compared to competitors (New balance, Nike) (Most shoes are still classic style)

Opportunities • To create awareness of different sports in emerging markets and become a first mover in exclusive sports shoes brand made professionally (Skateboarding) • Sponsorship on sports events, teams etc (Geoff Rowley) • Sponsorship for Vans Warped Tour (a music and extreme sports festival) • Growing Fan base and fast pace acquisition of new fans (Extreme sports trend) • Increase in demand due to the rise of extreme sports in Asia in these years help promote the brand

Threats • Duplicate and fake product replicas. • Keen competition from other brands in the same segment (DC and element) • Fluctuation in currencies and exchange rates

Vans perceptual map
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Customer analysis (Correct target customers) • Demographic segmentation Age: Children, teenagers and youngsters Income: Low • Psychographic segmentation Outgoing Active Fashionable Old school, vintage style

After SWOT analysis (Suggestions) 1. Transform weaknesses into strength • Turn the brand into more diversified development apart from skateboarding • Spend more on R&D 2. Match strengths with opportunities • Put more focus on the Asian market with vans’s popularity(e.g. hold Vans Warped Tour in Asia) (PR event) 3. Transform threats into opportunities • Target to new product markets (e.g. other kinds of sports)

Product positioning:
Possible new positioning can be “Fashion-leisure” and “performance-technology” • “Fashion-leisure”: Deck shoes (Different from skateboarding shoes), Back to the past • “Performance-technology”: New skateboarding shoes with innovative technology to stand out from others
Interactive marketing: sharing advertisements, print ads on FB, official websites

Target consumers:
New target cluster of consumers who are 30-40 years old (They may prefer fashion-leisure design with old school and vintage and mature style) (Sales promotion)

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