Memo
To :
From :
Cc:
Date:
RE: Balenciaga footwear brand analysis project
Overall, this paper reviews publicly available information related to the Balenciaga footwear brand and the footwear fashion industry trends to point out the challenges affecting the brand and come up with recommendations to alienate these challenges and facilitate continued competitiveness of the brand. At the beginning of the paper, an analysis of the Balenciaga footwear brand’s performance in the United States market is done. Results indicate that the brand has, over the years, successfully grown its market share and revenue, especially in the luxury fashion items market. Overall, the Balenciaga footwear brand is classified as a luxury brand. Conventionally, luxury brands penetrate the market depending on their ability to transform the tastes and preferences, and trends into unique fashion products. Over the years, the Balenciaga footwear brand has been focal for designing unique and fashionable sneakers making the brand grow its revenue and market share in the developed economies. Despite the success, the analysis indicates that the Balenciaga footwear brand has, for a long time, been affected by the changes in the tastes and preferences of the youth, who are its major target market. To alienate this challenge and boost the brand’s competitiveness, this paper suggests that the Balenciaga footwear brand should evolve with the swiftly changing target market tastes and preferences through the design of products that align with the customer preferences. Through intensive research and dedication, the project has been complete and is ready for review.
I hope this project will help marketing students in the future easily get elaborate on the marketing of luxury brands and guide them on how to do a market analysis of any product successfully