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Running head: MARKETING ANALYSIS: PRODUCT
1
Marketing Analysis: Product
Stephanie Ferguson
Capella University
October 30, 2022
MARKETING ANALYSIS: PRODUCT
2
Introduction
The foundation for any product oriented corporation begins with the product/s itself. The
product that will be analyzed in this paper is Crocs. Since their inception in 2001 where they sold
200 pairs at a boat show, the company has now sold over 720,000,000 pairs in over 90 countries. Crocs are a foam clog produced by Crocs Inc, and are an example of corporate branding where the product and the company share the same name(de Chernatony, 2001). With the vast number of competing corporations and products to be successful it has become necessary to focus brand attributes to attract the specific consumers that make up the target market(Xie & Boggs, 2006).
Target Market
When Crocs were first designed and released they were targeted towards a very specific niche market, namely boaters due to their waterproof composition. However in the proceeding years the target market has expanded. In today’s market Crocs are intended to appeal to a wide rage of people from all walks of life and all ages. You can expect to see Crocs on anyone from a busy mom to a college student to a kid on the playground. Anyone looking for reasonably priced casual footwear might consider Crocs. (Nichols, 2014)
MARKETING ANALYSIS: PRODUCT
3
Crocs as a brand has broadened it’s appeal by offering a wide variety of colors and styles as well as branching out into different avenues of customization in the form of bright charms in all shapes and sizes known by the brand name Jibbitz. What was once merely clogs is now a full line of styles with sandals, boots, flip flops, and even platforms. There is a line of crocs for work as well as one that is fleece lined for colder weather. Crocs have branched out to design one of their patented Croslite shoes for every occasion, inducing designer crocs through a partnership with Balenciaga sold for over five hundred dollars at stores like Saks Fifth Avenue and Nordstrom.
Celebrity endorsements have also contributed to increasing the appeal of Crocs to a wider
target market than ever before. Musician Questlove wore golden Crocs to the Oscars. Justin Bieber, Post Malone and Bad Bunny have all collaborated with Crocs to great success. The Justin Bieber customizable crocs sold out almost immediately, and there have also been several profitable partnerships with Disney, such as the Lightening McQueen crocs and currently Mickey and Minnie Halloween crocs(Roberts, 2021).
Influence and Competition.
The influence of Crocs on the market is best illustrated by the necessity of Crocs to file complaints with the United States International Trade Commission (ITC) and the United States district court against more than 10 companies that Crocs Inc. believed to be guilty of patent infringement(Crocs Inc, 2006). Croc inspired or “knock-offs” can be found in discount stores, superstores, department stores, and almost anywhere shoes are sold. There is often a marked difference in quality versus the original which is why these “croc-offs” tend to have a lower price
point as their main draw.
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