Retail Business Analysis
Payless Shoesource, Inc is one of the largest foot wear retailers in the United States. I got all my shoes, before I was fifteen and bought my own shoes, from Payless Shoesource, Inc. This is one reason I thought of Payless to do this retail business analysis on. Payless has a large selection of shoes including children, women, and men shoes at reasonable prices. Payless Shoesource has a definite generic, and segmentation marketing strategy and this paper will analyze these marketing strategies.
Segmentation Marketing Strategy
A market is customers who want or need a product and has the means to buy the product. Segments are customers who have the same wants, needs, and desire the same product. The three man segments of the population are demographic, psychographic, and geographic. Demographic segments can include age, sex, income, occupation, education, race and ethnic origin. On entering a Payless shoe store you fugitively take a step back from all the women shoes and accessories. The target demographic is definitely women. Most shoe retailers target this group because women according to a “Consumer Reports publication the average American woman owns 17 pairs of shoes and spends around $49 per pair” (Douglas, 2011). Women also typically buy shoe for their kids and spouse.
Another demographic segment Payless target is children this can be seen in the children theme shoes for instance Spiderman, and glitter shoes. They basically ignore the men segment in fact last time I went into the shop to buy shoes I walked right back out. There wasn’t much for men footwear and the whole front of the store is dedicated to women. As a male you just feel uncomfortable. To attract more male customer’s marketers should at least put male shoes without sparkles at the front of the store.
The last demographic segment is