Question

You are responsible for developing a promotional strategy for a new business that is a combination shoe store and bar. You need to develop the idea for this business that includes decided what types of shoes you will sell, the them for the business, etc. Specifically, you are to answer the questions below. 1. detailed description of the target market 2. Name of the business and rationale behind the name 3. Describe in detail the business 4. Develop the promotional strategy - what is the central message of the promotional plan, identify three promotional tools you will use to reach your target market and explain why you have chosen those tools, explain how you will integrate all the promotional tools so as to deliver one consistent message.

Answer 1

The shoe store and bar hybrid, 'Sole Spirits', targets young adults interested in fashion and socializing. The promotional strategy includes online advertising, influencer partnerships, and event sponsorships, all with the central message of 'Step into Style and Sip in Socializing.'

Step-by-step explanation:

Business Name and Rationale:

The business name for the shoe store and bar can be 'Sole Spirits.' The rationale behind this name is that it combines the idea of shoes ('sole') with the fun and social element of a bar ('spirits'). This name reflects the unique concept of the business and captures the attention of potential customers.

Detailed Description of Target Market:

The target market for 'Sole Spirits' would be young adults aged 21-35 who are interested in fashion, socializing, and unique experiences. This demographic includes individuals who are fashion-conscious and enjoy exploring new trends. They are also likely to seek out social environments where they can connect with others.

Description of the Business:

'Sole Spirits' is a shoe store and bar hybrid that offers a wide range of trendy footwear for men and women. The store section showcases the latest shoe designs from established brands, as well as emerging designers. Customers can shop for shoes and then enjoy the bar area, which offers a relaxed and trendy ambiance with a selection of craft beers, cocktails, and light bites.

Promotional Strategy:

The central message of the promotional plan for 'Sole Spirits' would be to 'Step into Style and Sip in Socializing.' This translates the unique concept of combining shoe shopping with bar experience. To reach the target market, three promotional tools would be used:

1. Online advertising: Utilizing social media platforms and fashion websites to create engaging content showcasing the latest shoe trends and the vibrant bar atmosphere.
2. Influencer partnerships: Collaborating with fashion influencers and local bloggers to feature 'Sole Spirits' in their content and hosting events at the bar section.
3. Event sponsorships: Partnering with local fashion events or charity galas where 'Sole Spirits' can sponsor the footwear for models and offer exclusive discounts to attendees.

All these promotional tools will be integrated by consistently using the central message of 'Step into Style and Sip in Socializing.' This message will resonate with the target market by highlighting the unique experience that 'Sole Spirits' offers, combining fashion, socializing, and trendy footwear.

Answer 2

1. A niche market will be targeted. This market will purchase shoes with high quality raw material and the finished goods are also luxurious. Price will be high for the shoes which will be affordable for the niche class of market.

2. The brand name will be Luxo Shoes. This name will be self explanatory about its luxurious shoes. Also a tag line can be added to increase the clarity for eg. Fit for a Prince/Princess.

3. The business will be selling high quality and beautiful shoes that will be able to attract all the shoes lovers and will be targeted to the niche class.

4. Promotional Tools

Advertising.

Advertisement with a well known actor will enable the fans of the actor to purchase shoes.

Sales Promotions

Adding a 20% opening discount will gain those who like to buy products when they are on discounts.

Publicity

Targeted publicity to reach the niche class by adding pamphlets in newspapers and distributing in rich locality.

Step-by-step explanation:

1. A niche market will be targeted. This market will purchase shoes with high quality raw material and the finished goods are also luxurious. Price will be high for the shoes which will be affordable for the niche class of market.

2. The brand name will be Luxo Shoes. This name will be self explanatory about its luxurious shoes. Also a tag line can be added to increase the clarity for eg. Fit for a Prince/Princess.

3. The business will be selling high quality and beautiful shoes that will be able to attract all the shoes lovers and will be targeted to the niche class.

4. Promotional Tools

Advertising.

Advertisement with a well known actor will enable the fans of the actor to purchase shoes.

Sales Promotions

Adding a 20% opening discount will gain those who like to buy products when they are on discounts.

Publicity

Targeted publicity to reach the niche class by adding pamphlets in newspapers and distributing in rich locality.