Introduction
The Collectible Air Jordan Shoe is a highly sought-after product among sneaker enthusiasts, with a unique design and history that sets it apart from other shoes. As the demand for these shoes grows, it has become increasingly important for small businesses to establish a strong internet marketing strategy to effectively market and sell them online. This plan outlines the core components of a small business internet marketing strategy for the Collectible Air Jordan Shoe to meet this demand.
This plan includes a business and revenue model, legal and ethical implications, web presence and supply chain, security and payment, online retail, content and social media, advertising and promotion, and social, mobile, and local e-commerce. The target customers for this product are primarily sneaker collectors and enthusiasts, ages 16-40, who value the rarity and uniqueness of the shoe. These tech-savvy customers often rely on online platforms for product research, purchase, and communication with other collectors.
The Collectible Air Jordan Shoe is a limited-edition shoe designed by Nike in collaboration with basketball legend Michael Jordan. The shoe has gained a cult following among sneaker enthusiasts due to its iconic design and historical significance. The strategy for generating revenue and conducting business through the marketing and sales of the Collectible Air Jordan Shoe will focus on a direct-to-consumer approach using the company’s website and social media platforms.
Legal and ethical considerations will be addressed, including compliance with trademark and copyright regulations and ensuring authenticity. A careful web presence and supply chain will provide a seamless user experience with security and payment protocols in place. Online retail strategies include comprehensive product details, user testimonials, and a streamlined purchasing process, with content marketing and social media strategies developed to engage customers and increase brand loyalty.
Business and Revenue Model
In developing a business and revenue model for marketing and selling the Collectible Air Jordan Shoe on the web, it is essential to have a clear value proposition. This shoe is a highly sought-after product with a niche target audience of sneaker enthusiasts and collectors. To differentiate the Collectible Air Jordan Shoe from other products, it is important to communicate what makes it more valuable to customers. This may include highlighting the limited-edition status, historical significance, and unique colorways of the shoe. By emphasizing these features, the business can appeal to the passion and dedication of the target audience and create a sense of exclusivity around the product.
Online retail sales are the most appropriate option when selecting a revenue model for the plan. This revenue model enables direct-to-consumer sales through the company’s website and social media platforms, providing greater control over the customer experience and the opportunity to build brand loyalty (Kim, 2020). In terms of market opportunity, the target audience for the Collectible Air Jordan Shoe may be smaller than other products.
Market Opportunity
Famous shoe companies like Nike, Adidas, and Reebok constantly compete for consumers’ dollars. Nonetheless, the high demand for the company’s limited-edition collectible Air Jordan sneakers gives it a leg up on the competition. Millions of sneakerheads and collectors are always looking for unreleased sneaker collections amongst the highlighted brands, and they could be the target market. Forecasts put the worldwide value of the footwear industry at $79 billion in 2019 (Hanaysha et al., 2021). In relation to capturing the attention of the target, we believe we can get the attention of at least 50,000 customers. The market strategy will focus on reaching the target audience through social media, influencer marketing, and other online channels.
Competitive Advantage
The company has a significant competitive advantage due to the uniqueness of its products compared to its competitors. Collectors and sneakerheads alike are eager to get their hands on limited edition Air Jordans because of the shoes’ high demand and low supply. With the capability of outsourcing the original versions of this shoes, the company is held with high regard by its customers hence it is a one-stop shop for many customers.
Organizational Development
The organization will reorganize itself to carry out activities that will aid it in achieving its long-term goals. These alterations will take place in the next months. The firm will concentrate on having a strong online presence, forging collaborations with well-known sneaker influencers, and extending the product range to improve sales and income. The executive team will comprise individuals with prior experience in digital marketing, e-commerce, and the shoe business. The team will consist of professionals skilled in customer service, product development, and supply chain management.
Legal and Ethical Implications
Several legal and ethical implications must be considered when marketing and selling the Collectible Air Jordan Shoe online. Regarding legal implications, the business must ensure that it complies with laws and regulations related to intellectual property rights, including trademark and copyright laws, to avoid infringing on others’ intellectual property (Nelson & Stout, 2022). In addition, the business needs to ensure that it has appropriate contractual agreements with suppliers and other partners to deliver the product as promised.
In terms of ethical implications, the business needs to consider the age restrictions of customers when selling the product, as well as environmental sustainability concerns related to the production and transportation of the shoes. Regarding governance implications, the company must comply with regulations set forth by agencies such as the Federal Trade Commission (FTC) to protect customers and ensure that the product is safe for use (Ritz et al., 2019). Finally, the business must take appropriate measures to protect customer privacy and ensure compliance with the Electronic Communications Privacy Act of 1986. It includes transaction and data security, as well as protecting customer privacy.
The business could explore options such as using sustainable materials to produce the shoes to go above and beyond what is legally required to affect positive social or environmental change. Additionally, it should focus on implementing a carbon offset program to mitigate the environmental impact of transportation and partnering with organizations that promote social equity to ensure access to markets for underserved communities. Additionally, the business could consider donating a portion of profits to social or environmental causes that align with its values.
Web Presence and Supply Chain
To establish a strong web presence, the company will design and develop a professional-looking e-commerce website that showcases the Collectible Air Jordan Shoe and provides customers with an easy and secure way to purchase the product. The website will include features such as thoroughly described product characteristics, user reviews, and easy checkout mechanisms, with security and payment protocols in place to protect the business and customers (Ritz et al., 2019). In addition to the website, the company will establish a social media presence on platforms like Instagram and Twitter to interact with customers and develop brand loyalty.
The firm can potentially attract clients worldwide if it develops an e-commerce platform that is basic and simple to use. The newly renovated website will, very soon, offer the whole product catalog with the most current payment choices and pricing. Using social media networks –Facebook, Instagram, and Twitter – our goal is to increase awareness of the items and bring in new clients. Email marketing efforts will help inform customers of new deals and discounts, bringing the benefit of potential new customers.
SWOT Analysis
Strengths
- Outstanding originality as well as high-quality.
- Trust in a workforce that is skilled and experienced, as well as awareness of the brand.
- Unrivaled partnerships with wholesalers and retail establishments.
Weaknesses
- Limitations placed on the manufacturing capacity come at a high cost to produce.
- The market does not have strong recognition for the brand.
- Budget decreases in advertising and marketing.
Opportunities
- The demand for products that are better for the environment and more sustainable is growing.
- The number of people purchasing online increases every year.
- Unexplored territories and markets are now being accessed.
- Participation in promotional endeavors along with influential online figures and bloggers.
Threats
- In the market, there is competition between well-known brand names
- Depressions and other forms of economic downturns
- Adjusting Oneself to Changing Fashions and Preferences.
Since the company needs to rely on other vendors for essential supplies and components, it depends on them.
The goal of building and managing the e-commerce platform in-house is to maintain complete editorial and operational control. Using external services for the catalog, shopping cart, and payment processing, it is possible to provide a streamlined experience for our customers. It is vital to build a mobile app so shoppers may use their phones as checkout terminals in addition to the website (Mkansi, 2022). This adds value to the company as they get to monitor their clients remotely and ease communication between themselves and their customers directly, especially for easy transaction facilitation.
Regarding the value chain, the company will store the raw materials required to manufacture the shoes from trusted suppliers. Distribution will be managed through in-house logistics and third-party shipping providers, focusing on efficient and cost-effective delivery. The company aims to use a domain name that is simple, memorable, and reflective of the product and brand. After searching on GoDaddy, it was found that the domain name “collectibleairjordanshoe.com” is available and recommended.
Security and Payment
In designing the security and payment protocols for the Collectible Air Jordan Shoe online business, the primary consideration will be protecting the company and its customers from cybercriminal activity. The business will be vulnerable to external threats such as phishing, malware attacks, and denial of service attacks.
Regarding the payment system, the company will consider whether to build an in-house e-commerce solution or outsource to an existing online payment system (Cohen & Lee, 2019). The cost of an in-house payment system will be evaluated, including the required hardware, software, and merchant banking relationships. Alternatively, the business will consider outsourcing to an existing e-commerce solution that will provide the needed functionality at an affordable cost. Considering social equity issues, the business will accept multiple forms of payment to ensure equal access for all consumers, including cashless payments and other digital payments.
To further ensure the security of customer data, the Collectible Air Jordan Shoe online business will use SSL encryption for all data transmitted over the internet. This will help protect customer information such as credit card numbers, passwords, and other sensitive data. The SSL encryption will be integrated with the payment gateway to ensure secure and reliable payment processing.
The payment gateway will also be carefully selected based on its security features, ease of use, and cost. The gateway will be integrated with the e-commerce platform for seamless payment processing. This will include options for one-click payments and saved payment methods to make the checkout process as fast and easy as possible.
Online Retail
Porter’s Five Forces analysis for the Collectible Air Jordan Shoe business model highlights several key factors that will impact its success in the market. The threat of new entrants is low due to the product’s unique nature, which requires Nike and Michael Jordan licensing. The bargaining power of buyers is moderate, as customers are highly interested in the product but have limited bargaining power due to the rarity of the shoes and the lack of substitutes (Ritz et al., 2019).
The bargaining power of suppliers is high, as the limited-edition nature of the product requires a close relationship with the supplier, and any disruptions in the supply chain could affect availability. The threat of substitutes is low, as the Collectible Air Jordan Shoe has a unique design and historical significance, making it difficult for other products to compete. The competitive rivalry is moderate, as other limited-edition shoe products are on the market.
The Collectible Air Jordan Shoe has several competitive advantages that will further enhance its success in the market. These include its unique design and historical significance, limited edition nature, and strong brand reputation. The company’s web presence will also be a competitive advantage, with detailed product descriptions, customer reviews, and easy checkout processes (Vasić et al., 2019).
The company’s focus on authenticity and legal compliance will also increase customer trust and loyalty. Based on its business model, product, and customer, a virtual merchant type best fits the Collectible Air Jordan Shoe. The virtual merchant model will allow easy scalability and flexibility regarding web presence and supply chain management. For service delivery, the company must carefully manage the supply chain to ensure the timely and secure delivery of the product to customers.
Content and Social Media
The Collectible Air Jordan Shoe, an internet marketing plan, will focus on content and social media strategies to engage effectively with the target audience. The online audience for this product will primarily consist of sneaker enthusiasts, collectors, and fans of Michael Jordan. To leverage the growth of online entertainment, gaming, and music, the brand can collaborate with popular influencers in these areas to showcase the shoes and reach a wider audience.
In terms of media channels, digital and social media platforms will be the best fit to reach the target customers. Instagram and TikTok are popular platforms among the sneaker community and can be leveraged to showcase the unique design and history of the shoes. Twitter can be used to engage with fans and respond to any inquiries. Vertical market portals, such as sneaker forums and blogs, can also be utilized to engage with the audience and build brand loyalty (Ansari et al., 2019). SEO optimization will be used to increase the visibility of the brand and product in online searches. To further engage with the target audience, the brand can leverage the power of user-generated content (UGC).
The brand can create visually appealing and informative product descriptions in content marketing, showcasing the shoes’ unique features and history. Additionally, the brand can create blog posts and articles that delve into the cultural significance of Air Jordan shoes, the design process, the history of Michael Jordan, and his impact on basketball and fashion. Overall, the Collectible Air Jordan Shoe brand can effectively engage with the target audience and build brand awareness and loyalty online by utilizing the appropriate digital and social media platforms and developing compelling content and social media strategies.
Advertising and Promotion
The company will aim to increase brand visibility, attract new customers, and build brand loyalty. The objectives for the website will be to attract visitors, engage them with high-quality content, and ultimately drive click-throughs and conversions. The key performance indicators (KPIs) for online advertising and promotion will include impressions, click-through rate, page views, unique visitors, and conversion rate (Hanaysha et al., 2021). These metrics will help the company measure the effectiveness of its advertising efforts and make adjustments as needed.
The company will focus on differentiation, relevance, and perceived value to effectively position the brand and product. By emphasizing the unique features and benefits of the Collectible Air Jordan Shoe, the company can differentiate itself from competitors and build brand loyalty. To ensure consistent messaging and user experience among online channels, the company will integrate marketing communications using a unified branding approach, including consistent visual design and messaging. Additionally, the company will use CRM tools to manage customer relationships, including personalized communications and follow-up emails to build customer trust and loyalty.
To advertise and promote the Collectible Air Jordan Shoe online, the company will utilize a variety of tactics, including search engine optimization (SEO), social media advertising, influencer marketing, email marketing, and content marketing. The SEO strategy will involve optimizing the website for relevant keywords, ensuring the site is easily navigable and user-friendly, and regularly publishing high-quality content targeting the company’s audience. The goal is to improve the website’s ranking in search engine results pages, thus driving more organic traffic. Social media advertising will target the company’s audience on platforms like Facebook, Instagram, and Twitter. The company will use a variety of ad formats, including sponsored posts, carousel ads, and video ads.
Social, Mobile, and Local E-Commerce
The intersection of social media, mobile technology, and local commerce presents a unique opportunity for businesses to engage with customers in new and innovative ways. For the Collectible Air Jordan Shoe internet marketing plan, leveraging all three platforms with an integrated strategy will be essential. Social media platforms such as Facebook, Instagram, and Twitter will be used to promote and sell the shoes through targeted social media campaigns and influencer marketing (Wang et al., 2019). These platforms will also engage with customers and build brand loyalty through content marketing strategies that showcase the shoes and their unique designs.
Mobile technology will be integrated with marketing and promotional activities by developing a mobile app that offers exclusive deals and early access to limited edition releases. The app will also provide a streamlined mobile checkout process to improve the user experience and encourage mobile sales. Online ads will be placed on various platforms, including streaming video ads, paid search results, messaging ads, and banner ads. These ads will be targeted to reach the company’s target audience and increase brand visibility.
The online user experience will be smartphone-centric, with a mobile-responsive website and app optimized for mobile devices. This will ensure customers can easily browse, purchase, and receive their shoes using smartphones. The plan will explore partnerships and collaborations with other retailers and businesses in the area to leverage local customers and businesses. Local promotions and events will also increase brand awareness and drive sales among local customers. Overall, an integrated social, mobile, and local e-commerce strategy will be crucial for the success of the Collectible Air Jordan Shoe internet marketing plan, as it will allow the business to reach customers through multiple channels.
References
Ansari, S., Ansari, G., Ghori, M. U., & Kazi, A. G. (2019). Impact of brand awareness and social media content marketing on consumer purchase decision. Journal of Public Value and Administrative Insight, 2(2), 5-10. Web.
Cohen, M. A., & Lee, H. L. (2020). Designing the right global supply chain network. Manufacturing & Service Operations Management, 22(1), 15-24. Web.
Hanaysha, J. R., Al Shaikh, M. E., & Alzoubi, H. M. (2021). Importance of marketing mix elements in determining consumer purchase decision in the retail market. International Journal of Service Science, Management, Engineering, and Technology (IJSSMET), 12(6), 56-72. Web.
Kim, M. (2020). How Phil Knight made Nike a leader in the sport industry: Examining the success factors. Sport in Society, 23(9), 1512-1523. Web.
Mkansi, M. (2022). E-business adoption costs and strategies for retail micro businesses. Electronic Commerce Research, 22(4), 1153-1193. Web.
Nelson, J. S., & Stout, L. A. (2022). Business Ethics: What Everyone Needs to Know. Oxford University Press.
Ritz, W., Wolf, M., & McQuitty, S. (2019). Digital marketing adoption and success for small businesses: The application of the do-it-yourself and technology acceptance models. Jthenal of Research in Interactive Marketing, 13(2), 179-203. Web.
Vasić, N., Kilibarda, M., & Kaurin, T. (2019). The influence of online shopping determinants on customer satisfaction in the Serbian market. Journal of theoretical and applied electronic commerce research, 14(2), 70-89. Web.
Wang, Y., Chowdhury Ahmed, S., Deng, S., & Wang, H. (2019). Success of social media marketing efforts in retaining sustainable online consumers: An empirical analysis on the online fashion retail market. Sustainability, 11(13), 3596. Web.