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runners world: CASE STUDY
Sue Koenig established Runner World in 1987 at age of 24. The Shop was an immediate success due to certain reasons that are still part of her present strategy. One of the most important factors that contributed to her success was herself: a nationally acknowledged runner. This helped her attract customers as people find it easier to trust someone who was well aware of the needs of runners.
Secondly, when she started her business the fitness craze has just hit the country and people were ready to buy shoes specifically design for running. Thirdly, she had super quality Nike shoes that boosted her profits and added to the number of her regular buyers. However, soon her profits stabilized and her shop has entered the maturity stage of its life cycle.
However, the market in which operated is at a different stage. It is expanding rapidly and is in its growth stage. Runner World now faces new and fierce competition from all around her - especially from departmental and retail stores such as Foot Locker and Wal-Mart that offer a large variety of shoes.
Trends in fitness and sport world have changed drastically. Many people have given up serious running and are into more milder and flexible sports. In her desperate need to expand,...
This did give a sudden boon but soon her sales leveled without any further increase.
In order to survive in the extremely competitive environment, and to prolong the maturity stage of her shop, she needs to take some dire steps She needs to re evaluate her marketing mix.
Place: Though, it is not really clear whether she had one or more stores. But in any case, she should stick to the number of present shops she has even if its only one compared to large number of stores of departmental chains such as Wal-Mart. This is important because it would not confuse her regular customers and future ones as everyone exactly know where the shop is presently located for past 12 years. This will also help to keep her product exclusive, an advantage over the low cost retail shops and departmental stores. Thirdly, she would be able to personally deal with customers, giving her another edge over her competitors. Lastly, as her profits which though present stable, can decline, she can not afford any more financial burden of opening up new shops, employing and training new people and advertising the new locations
Promotion:
Sue's success to date was largely dependent on…
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