Marketing Concept for the Mismatched’s Socks Placement in the Swiss Market
Life is too short for matching socks – embrace the beauty of asymmetry! And remember, it is not just about wearing socks; it's about wearing values. Embark on a sock revolution with an innovative startup. Discover how style and sustainability merge to create standout products in the Swiss market.
Jenny Odermatt & Carole Tobler, 2023
Bachelor Thesis, Mismatched
Betreuende Dozierende: Ganesh Nathan
Keywords: mismatched socks, sustainable fashion, swiss market, marketing concept
The startup aims to establish a presence in the Swiss market. Creating a marketing strategy is critical to the success of any business as it helps to identify and target the right audience, communicate the value of the product or service, and differentiate from competitors. To facilitate this endeavor, gaining a deeper understanding of the needs of potential customers and understanding the competitive environment in the Swiss sock market are necessary. Therefore, this thesis aims to answer the main research question “Where and how can Mismatched’s socks be placed in the Swiss market?”.
For this purpose, marketing strategies were elaborated in the study, taking into account different target groups. By employing qualitative research methods and conducting a comprehensive analysis of B2C surveys, focus group interview, B2B interviews, mystery shopping, and tourism shop information gathering, valuable insights have been gathered to guide Mismatched's market placement. In developing a thoroughly elaborated marketing concept, the STP model (Segmenting, Targeting and Positioning), the Ansoff matrix model and the 7 P's of the (Green) Marketing Mix were used.
The B2C survey identified distinct market segments: self-expressive individuals, occasion-based shoppers, and gift shoppers. Sustainability, quality, and fair trade justified premium pricing, enabling the startup to position itself as a premium brand. The focus group interview revealed that, while emotional attachment to mismatched socks was limited, emphasizing individuality could help establish a connection with target customers. Collaboration opportunities with sports clubs, especially the hockey club and tourism shops were explored. Marketing strategies were developed centered on sustainability, unique designs, and effective promotions. The emphasis on eco-friendly materials and manufacturing methods aligns with consumer preferences. The results highlight the potential for the startup to differentiate itself in the Swiss market and establish a positive brand reputation. In conclusion, this thesis lays the groundwork for a successful market entry and establishes the potential for the startup to differentiate itself and thrive in the Swiss sock market.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: