Situation AnalysisJayne Andrews

Kate Austin Abby Crites

Darby Klos Sarah MeisterGrant Pieper

Table of ContentsOverview......................................................................... 1Industry Analysis .................................................... 2Consumer Analysis ............................................... 8 Company Analysis ................................................. 17Product Analysis .................................................. 23 Competitve Analysis Part 1 .......................... 30Competitve Analysis Part 2 ......................... 33Perceptual Map ..................................................... 34Previous Marketing Effort .......................... 36 Brand Equity & Positioning ......................... 42 SWOT.................................................................... 44 Conclusion ............................................................... 47Sources ...................................................................... 48

Our objective with this analysis is to provide context, reasoning and a thorough understanding for Allen Edmonds’ current positioning within the men’s dress shoe category of the U.S. footwear industry. This book is a summary of both primary and secondary research as well as data that can potentially influence the strategies and performance of Allen Edmonds in future advertising efforts.Some important highlights include:

For 93 years Allen Edmonds has been using the same 212 step handcrafting process for their shoes. The craftsmanship of their shoes is what allows them

to be just as durable as the day you bought them for years to come.

The U.S. footwear industry is an affluent industry projected to grow consistently over the next five years. The men’s dress shoe category is one of

the smallest categories within the industry’s landscape.

Allen Edmonds’ current target market differs greatly from their prospective target of millennial men. The brand must shift their focus in order to appeal

to this target while remaining true to their values and heritage.

There are a wealth of men’s dress shoe brands that all vary in price, quality, and style. In order to stand out amongst the competition, brands must show

consumers that there is value in more than just the shoe itself but in the quality of the shoes and what the company stands for.

To accomplish the objective of this analysis and ultimately influence further decisions, we have created a target profile, analyzed the brand’s essence and current positioning, and conducted a SWOT analysis.

Overview

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US Footwear IndustryAllen Edmonds shoe wear is a part of the men’s dress shoes category in the U.S. footwear industry. The U.S. footwear industry consists of about 100 manufacturers, 1,500 wholesalers and 30,000 retail outlets. With versatility in both style and cate-gory, the footwear industry has reached an ever-steady increase, projected to grow within the next five years.

Industry OutlookThe annual revenue of shoe retailers in the U.S. is close to $25 billion. The major shoe companies in the U.S., including Nike, Reebok, Brown Shoe and Timberland, are mainly owners of brand names that “source” their shoes from independent man-ufacturers. The retail segment includes owners of large chains, like Venator Group (Foot Locker) and thousands of small local retailers. The retail segment is highly concentrated, with the largest 50 chains holding about 80 percent of the market. Many of these shoe companies operate in both the wholesale and retail segments. Market forecasts show the long-term industry outlook and trends that shoe stores predict in the future. The following five-year forecast utilizes advanced econometric techniques that project both short-term and long-term market growth outlook.

Growing the U.S. Economy by Getting DressedIn 2012 every single man, woman and child in the United States purchased an average of 62 garments and seven pairs of shoes, spending more than $1,100 each. Overall, Americans purchased nearly 2.5 billion pairs of shoes. American families spent more than $350 billion at retail on new clothes and shoes in 2012.

In terms of the economic footprint, the U.S. apparel and footwear industry is larger in money and size than the U.S. video game industry, U.S. fast food industry, U.S. soft drink industry, U.S. alcoholic beverage industry and even U.S. auto industry.

Industry Analysis

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Buying Decisions In addition to the value of manufacturing, it is estimated that more than 70 percent of the retail value of most clothing and footwear comes from non-manufacturing activities that happen entirely inside the United States, like marketing, merchandising, design, brand enforcement, transportation and more.

On average 82 percent of millennials are willing to buy from a brand that is paired with a cause or gives back to the community. For example the shoe line Toms is a brand that has established the One for One foundation. They are committed to a cause that for every product purchased, Toms will help someone in need. The brand has given over 35 million pairs of shoes, something that is extremely appealing in the eyes of millennial consumers Allen Edmonds can foster and develop cause worthy actions by looking for ways to give back.

Industry ForecastAccording to a global information company, The NPD Group, the U.S. retail sales of fashion footwear, which includes all footwear except athletic footwear, generated revenue of $41.52 billion in 2014, a four percent increase over the flat growth experienced in 2012.The men’s shoe segment posted modest annual growth from 2009-14, with especially weak sales in 2013 and 2014. It is expected to rise at current prices through 2019, although growth will likely be modest and limited.

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According to a new market report published by Transparency Market Research “Footwear Market Global Industry Size, Market Share, Trends, Analysis and Forecast, 2012 - 2018,” the global footwear market was worth $185.2 billion in 2011 and is expected to reach $211.5 billion in 2018, growing at a compound annual growth rate of 1.9 percent from 2011 to 2018.

Competitive LandscapeThe U.S. footwear industry’s demand is largely driven by fashion and demographics. The profitability of individual companies depends on their ability to design and market attractive shoe models effectively. Large shoe companies have economies of scale in both distribution and marketing. Smaller companies however, can successfully compete in the marketplace through superior design and strategic marketing efforts. Examples:Dress shoe self-startup, Paul Evans, said they faced limited options in retail stores, so they decided to complement their custom suits with their very own footwear brand. “We know what young, successful, professional men want. We feel strongly that today’s man is much more fashion forward and excited about looking great then ever before.” It is important to understand what other indirect competitors of Allen Edmonds are doing within the industry, so the brand can compete with newer start-ups targeting millennials.

According to Mintel Men’s and Women’s US Footwear, “In reaching out to coveted 18 to 34-year-old consumers, footwear branding efforts include association with popular culture, as well as with themes of coolness, independence and self-expression.”4

InnovationThe shoe industry has creatively innovated its products in such a way that has allowed for customization capabilities. More competitive advancements and innovative technologies have improved market growth in both dollar amount and size. Customizing ‘your’ own shoe calls for new market growth in money and size. Online shoe store customization and shopping has generated easier access to find products, sizes and styles. A new trick of the trade that has drawn millennials to websites is online shoe customization. Millennials feel like it is a form of self-expression by allowing them to have a say in how their shoe is designed.

“Men’s fashion footwear styles have hit the

mainstream. They are not just for

fashion-forward shoppers anymore,” said

Marshal Cohen, chief industry analyst, The

NPD Group, Inc.

“This type of momentum means we will

continue to see new styles and colors for men

that are both versatile and trendy.”

Looking ForwardAllen Edmonds has built their brand around customization sizing and styling. They find themselves at a very advantageous stage within these industry trends. Allen Edmond’s innovative boots and styles pave an opportunistic way to target new markets. 5

Segmenting the MarketThe major product segments in the US industry are athletic shoes, women’s shoes and men’s shoes. Athletic shoes account for about 40 percent of the retail market, women’s shoes for 25 percent and men’s shoes for 15 percent.Among the fashion footwear categories tracked by The NPD Group, outdoor and casual experienced the largest dollar sales growth, at 10 percent, and seven percent, respectively.“It is not surprising to see casual continuing to outperform dress,” said Marshal Cohen, chief industry analyst, The NPD Group, Inc. “The evolution of style from business and dress attire to an ‘anything goes’ look with work attire including a mix of casual and dress, has paid off for the casual category.”

CategoryThere are various categories within the footwear industry that make up the market share within the shoe trade. These statistics were taken from February 2015 ana-lytics, representing men’s dress shoes as the lowest category in the market share to date.

Sneakers The New CrazeGrowth in men’s shoes has largely been influenced by designers’ experimentation in footwear categories other than their signature collections. With this case in point, Footwear News confirmed that sneakers are all the craze. The range of athletic and luxury brands have participated in creating their own takes on the shoe. According to FN, retailers said high-end sneakers have climbed their way to the number one category.6

Brand PartnershipsSneaker partnerships are popping up everywhere in the industry to link extravagant names with more conventional ones. Traditional luxury brands like Salvatore Fer-ragamo, Etro and Louis Vuitton have amped up their offering. More contemporary players have also collaborated on sneakers for spring ’15, including Tim Coppens and Common Projects collaboration, as well as a Barbour and Adidas partnership.

“In the past, we saw brands focusing on formal styles, whereas now we see a big increase in their offering of other categories,” said Stephanie Moor, the men’s buyer at Level Shoe District. “The explosion of the sneaker trend this season has brought huge opportunity in men’s, from luxury through to lifestyle brands.”

Where the Industry is HeadedMany dress shoe brands are looking to enter the casual market. The sneaker craze has been so explosive that even women’s designers have tapped into the market. For spring ’15, for example, Pedro Garcia introduced a small collection of men’s suede low tops, brogues and slip-ons. Additionally, up-and-coming women’s designer Karen Gallo introduced men’s sneakers, embodying a more lux take with embossed leathers in subtle paisley prints.

Industry MarketingWithin the past decade, mass communication marketing on all spectrums have driven consumers to department stores and most recently, their department store websites. The shoe industry has utilized email marketing techniques to redirect con-sumers to a brand’s website or store webpage. Email pitches and catalog marketing practices have become viral ways for brands to interact with its consumers on a global scale.

Online SpectrumLooking at the methods of purchase, website purchases, which represented 19 per-cent of fashion footwear sales in 2013, saw some of the highest growth for the year, increasing 16 percent over 2012. Also noteworthy is the fact that the average price of an online purchase of fashion footwear is higher than an in-store purchase. “Information via social and traditional media — like Instagram, style blogs or mag-azines — has greatly influenced the male shopper,” said Bruce Pask, men’s fashion director for Bergdorf Goodman, which remodeled its men’s store in New York last year.

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Get to Know Them

Current ConsumersThe majority of Allen Edmonds current consumers are conservative men between the ages of 35 and 54 that live in an urban or suburban area. Many work in legal, financial, accounting, or corporate sectors. They work full-time and typically have hiring/promoting responsibilities. These men see the shoes as an American tradition, and for many of them whose fathers and grandfathers also wore the Allen Edmonds brand, a family tradition.

Their current consumers are mostly men that belong to Generation X, with a small percentage of baby boomers (men older than 50.) Generation X and young baby boomers on average spend about $11,000 more yearly than millennials.

Target ConsumerWith the rising number of millennials in the workforce (people between the ages of 18 and 34 in the year 2015), Allen Edmonds would like to push sales into the next generation. It is estimated that half of the workforce this year will be millennials. With 75.5 million millennials (including males and females) in the United States, or 25 percent of the population, this group has a sum purchase power of $1.68 trillion.

Millennials are the most ethnically diverse generation in the United States. For-ty-two percent identify as another race/ethnicity than white.

In a survey, about 32 percent of men in the current target consumer age range (35-54) purchased at least one pair of dress shoes in the previous year. Yet about 46 percent of men in the millennial age range (18-34) have purchased at least one pair.

Our target consumer is a millennial male who has or is searching for a full-time job that requires them to wear dress shoes multiple days of the week. He has complet-ed some postsecondary education. He dresses to impress and is conscious about his professional appearance.

Consumer Analysis

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Target Demographics:The target consumer is males between the ages of 21 and 34. Because of the drastic differences between younger millennials from 18 to 24 and older millennials from 25 to 34, we suggest that Allen Edmonds include advertisements specifically to target consumers in each age group.

Younger millennials [18-24]• 15.6 million males• Live With Parents: 56 percent • Median Household Income: $31K• About 93 percent Never Been Married• About 50 percent Enrolled in School • About 8 percent have a Bachelor’s Degree Older millennials [25-34]• 20.6 million males• Live With Parents: 18 percent • Median Household Income: $51K • About 46 percent Married • About 11 percent Enrolled in School• About 29 percent have a Bachelor’s Degree; About 6 percent also have Master’s

Degree• 73 percent live in large or mid-sized cities *Sources: 2010 U.S. Census and Mintel 2014

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What drives the purchase?Current ConsumerThe current Allen Edmonds consumer believes that advertising is manipulative that causes people to buy things that they do not want to. They think that advertising should focus less on sex appeal and more on practicality.

On the other hand, most Generation Xers do not lead a green lifestyle. However, they would buy socially responsible products if they were less expensive. They prefer items that are locally sourced in order to support the local economy.

Target ConsumerMillennials believe that their purchases define them and reflect upon their self-image. They want to associate themselves with brands that align with their values and attitudes. Brands represent a lifestyle choice and give the consumer an identity. They are loyal to brands and want a relationship with the brands that they choose.

One of the most influential attributes that millennials seek in the brands that they support is whether the brand is socially conscious. They prefer convenient ways to contribute to society, and 4 out of 10 millennials are willing to pay more for products and brands that are environmentally friendly.

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What does the consumer think?Current ConsumerThe current consumers are less optimistic about the future because of economic downturn, outsourcing and globalization. Thirteen percent of Generation X men reported losing their job in 2010, so the best marketing that resonates with them are brands that focus on their value for the money. Eighty-four percent of Generation X want to reduce their spending on products they do not need.

Target ConsumerAlthough millennials are insecure about the present, they are optimistic for the future. They envision limitless possibilities in life. Nearly 80 percent of millennials include recreational time on their list of important life goals. They treat their assets (time, money, network, etc.) with equal value.

Millennials believe that it is important to contribute to society and make a difference. They prefer to support causes that help people and issues, compared to causes that are for institutions or organizations.

This age group is easily influenced by the decisions and behaviors of their peers. They have a low trust in society, and tend to believe people they know over advertisements. They use social media as a tool to find out about brands and companies from their friend network.

Due to the availability of personal technological devices, they expect customization in every aspect of their lives. They are content creators and users. They want to be the first to try a new technology, and millennial men are 2.5 times more likely to be early adopters than women the same age are.

As for style, millennial men want to be unique, and believe that style is a main factor in making good impressions. Eighty-one percent are willing to pay more for quality products. Millennial men are spending more money on casual clothing than other generations, and own many pairs of sneakers. They tend to think that Allen Edmonds’ dress shoes are for older men.

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Who Are They?Current ConsumerThe current consumers prioritize a balance with work and family life. Thirty-five percent of Generation X men work in professional, management, or related job.

Target ConsumerMillennials as a generation are more accepting of differences. More than any other generation, they support gay marriages, marijuana legalization and interracial marriage. They are independent considering their religious and political views. About half of millennials consider themselves politically neutral and nearly a third are religiously unaffiliated.

They seek out adventure and try to strive for a healthy, balanced lifestyle. They want to differentiate themselves and they see the benefits of education, even if it comes with a price. Almost one-third of them have a postsecondary degree, which is the highest percentage of any generation yet.

Two out of three millennial men hope to start their own business some day. They are a generation of self-starters.

Their LifestyleCurrent ConsumerAbout seven out of ten of Allen Edmonds’ current consumers are married. Nearly two-thirds of them own houses, with the majority having mortgages. Generation X has the largest average household size among other generations, and 73 percent of them want their families to know that they are a top priority of their career.

Target ConsumerMany millennials are in a “transition” life phase and delaying any huge commitments. They are focusing on personal achievements before marrying and starting a family. Nearly two-thirds of them rent instead of buying a house. The average age that men are now marrying is 29.

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Seventy-three percent of millennials live in large to mid-sized cities where there are many opportunities. Forty percent of the ones that do not live in an urban area say that they would like to move there. Millennials want to live close to shops, restaurants and businesses. A decreasing number of them are purchasing cars. Many that do not live in urban settings are choosing suburbs with urban characteristics, such as being simultaneously pedestrian and transit-friendly, environmentally conscious and having mixed housing types (single-family, townhomes and apartments) and public parks for community gathering.

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Type of Media They ConsumeCurrent ConsumersFor the current consumers, more than three-fourths of them use the internet to compare prices. The spend less time reading print newspapers now that there are online versions. Generation X leads over other generations on the average amount of time spent watching traditional television, online video and video-on-demand.They are curious about new forms of social media, and nearly two-thirds use Facebook to reconnect with old friends. Ninety-five percent have mobile phones, and 60 percent of that group have smartphones. Sixty-eight percent of Generation X make purchases online.

Target ConsumersMost millennials have multiple ways to access the internet. Seventy percent of the men engage in social networking. They usually find out information first from social media. They tend to trust information they learn about a company through social media rather than other traditional media outlets.

Millennial men are heavy radio listeners and show a greater interest in personalized audio services than millennial women. They also spend more time watching videos on the internet than women.

Thirty-five percent of men that own a smartphone between the ages of 18 and 24 watch video on it daily, while 44 percent of men between the ages of 24 and 34 do.

They also want convenient ways to shop, and would rather do it online than in a store. Forty percent of men ages 18-34 would ideally buy everything online.

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Attitudes, Motivation and Inhibitors

Millennials like to be in control and do not want to be treated as a consumer. They want to be active in the marketing process and are best reached through participatory or two-way marketing.

They seek out brands that speak their values (happiness, passion, diversity, sharing, discovery). The goal is to combine their wants, values and needs in the campaign mes-sage. Humor and portraying an average guy in an extreme situation appeal to them.

They don’t like being marketed to, and they ignore brands that pretend to know the millennial. Many believe that mass media kills trends. They seek out information through new media. They would rather hear about a product through word-of-mouth than through traditional advertising.

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Mission Statement“At Allen Edmonds, we are committed to quality, service and integrity. These three words make up our motto and provide the roadmap to guide all of our decisions. As manufacturers of premium men’s footwear, accessories and cedar products, our number one priority is to deliver exceptional value to our customers every day. After all, we know our customers are the reason we exist.”

VisionAllen Edmonds’ style is about more than just fashion and materials. It is about conveying a classic look while retaining versatility and durability.

Promise to CustomersYou will be in good company with leaders all over the world who wear Allen Edmonds shoes during the most important moments of their esteemed careers. If you wear their shoes, you can be confident that you stand out in a good way and carry with you a reputation for having great taste in footwear and quality products.

HeritageElbert W. Allen launched Allen Edmonds in 1922 in Belgium, Wisconsin. Allen and his future partner Bill “Pops” Edmonds knew they needed to stay close to their roots and knew the Midwest was the place to do that. Allen Edmonds also gained much of its following by providing the Army and Navy with shoes during WWII. Allen Edmonds’ buyers are loyal and this stems from fathers introducing their sons to the brand. With their headquarters in Port Washington, Wisconsin, they remain true to their heritage and values.

CraftsmanshipAllen Edmonds uses a traditional 212-step process that has been the basis for hand-crafting since 1922. They only use the finest leathers that breathe, repel moisture, hold their shape and age gracefully. In the final stages of manufacturing the polishing tech-nique used highlights the natural appearance of leather while protecting it from the elements. Before the shoe even leaves the factory, it has to go through an inspection to receive the Allen Edmonds insignia stamped into the heel of the insole to ensure you are getting the best shoe.

Company Analysis

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StyleAllen Edmonds believe that if you are going to make something a part of your ward-robe, it should be of the highest quality, like the other products to which they have given the Allen Edmonds seal of approval. Whether it is the made in USA leather goods, or the featured ties, cufflinks and eyewear their merchandise not only captures the Allen Edmonds personality but also their dedication to fine craftsmanship. And, because your look should be well maintained and handsome, they also feature shoe care and cedar products constructed specifically to keep your wardrobe looking its best for years to come.

Core ValuesAllen Edmonds strives for hard work, honesty, humility and trust to be the corner-stone of their company. They credit their strong values and work ethics as the rea-sons their footwear is consistently chosen by corporate, political, entertainment and community leaders.

Logo and Slogan

Key Facts• The shoes are still made in America 93 years later.• They are one of roughly six American shoe companies, along with E. Vogel,

Oliver Moore Bootmakers, Alden, Rancourt & Company and Esquivel that still make men’s dress shoes domestically.

• The Goodyear Welt (a strong leather strip stitched around the shoe) is used to make the shoes allows for them to be sewn together rather than glued.

• Customers can go online and customize of pair of Allen Edmonds to buy.• They offer sizes 6-19 and AAA to EEE and allow customers to buy a pair of with

two different sizes.18

Company Highs and LowsAfter being founded in 1922, Allen Edmonds started strong but then like many others had a tough time selling their shoes during the Great Depression. As other shoe companies went out of business, the strong management team kept Allen Edmonds on track by staying true to the company’s core values and superior craftsmanship. It was a rough few decades, but the 1950s saw a turnaround and the company grew as more professional jobs were added throughout the country, which meant more men needed dress shoes for their jobs. Allen Edmonds shoes were clearly the standard for the young executive in those days. The company’s revenue began to slip and dropped to $72 million in 2009 from a previous $94 million in 2007. The company then topped revenue with $100 million for the first time in 2011 and then $120 million in 2012. In 2013 the owner of Allen Edmonds sold the shoemaker for $200 million to an affiliate of Brentwood Associates. The company has thrived since and is still known today as one of the greatest American shoe companies that never wavers from the quality or style that has kept them in business for almost a century.

EmployeesAllen Edmonds pays their workers well, which puts them at a competitive disadvantage in the marketplace. Wages, benefits, government regulations, emissions permits, taxes and health care costs are all significant costs that could be drastically reduced by locating production overseas in a developing country. However, they take pride in supporting their employees, some of who have been there for 30 or more years and some that are third generation employees for Allen Edmonds. They prove their support to employees through their craftsmen profiles online where they showcase the stories of their employees.

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LocationsAllen Edmonds has 45 store locations in the U.S. but have a large presence amongst 463 retail stores (which can be found in multiple countries around the world on con-tinents such as Europe and Asia) and 10 outlet stores throughout the country as well. You can find them in Columbia Missouri at Bingham’s Clothing. They also have a large e-commerce business at AllenEdmonds.com and a large catalog push.

Markers represent one or multiple Allen Edmonds stores in that area.

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Product StandardsFit: Allen Edmonds wants to ensure that you have the right shoes for your personal needs and sizing. With more and more customers preferring the convenience of online shopping, they have developed easy to use tools to help ensure that customers take accurate measurements and get the proper fit. To get a truly professional fitting, they recommend visiting an Allen Edmonds master-fitter at any one of their retail stores. However, if an Allen Edmonds store is not located near you, they provide a Shoe Fit Guide online designed to help ensure your Allen Edmonds shoes are the best possible fit. Comfort: In addition to fit, Allen Edmonds shoes are comfortable. Superior leathers allow for the use of thinner leather, which is more flexible, breaks in faster and has better breathability. The cork footbeds form to the contours of customer’s unique foot shape in a way that other shoemaker’s cheap soles cannot match. Durability: With proper care, Allen Edmonds shoes can last for decades so customers can stop buying throwaway shoes every year. Their recrafting service also allows customers to re-craft their shoes to ensure they last a lifetime. Service: Allen Edmonds strives for a commitment to their customers. This begins before the shoes are even made with the forethought they put into creating designs that will stand the test of time and their tireless efforts to use only first-class materials in their products. This dedication to excellence carries over to their stores, where the majority of the master-fitters have over a decade of experience, making them experts when it comes to helping customers find that pair of Allen Edmonds that will feel like they were tailored especially for their feet.

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Social Media Presence

51k likes12.9k followers7.9k followers1.9k followers764 followers

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Allen Edmonds has been producing the finest dress and casual shoes since 1922. Most of these shoes are made in the United States at their Wisconsin factory, but all shoes go through the 212-steps of handcrafting. Allen Edmonds uses superior leath-ers that make their products the most flexible and breathable. The unmatched com-fort of their shoes is attributed to their wide range of over 100 sizes and their use of Goodyear welting. Allen Edmonds produces a majority of their shoes in the United States at their Port Washington, Wisconsin factory, but they do have their “AE by Allen Edmonds” sub-brand that they produce at a factory in the Dominican Republic.

Shoes:Allen Edmonds has three different categories of men’s shoes:Dress ShoesCasual ShoesComfort and OrthoticsThe average price of all Allen Edmonds shoes - $300There are eight different types of shoes.

Product Analysis

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Loafers/Slip-ons: The loafer is a moccasin inspired shoe that is most recognizable by its slip on styling.

• Premium grain calfskin with leather liner

• Hand sewn construction• Recraftable• Made in the USA

$195

$185Driving Shoes: Similar construction and comfort to a moccasin, driving shoes have rubber soles and serve as good everyday shoes.

• An AE by Allen Edmonds shoe• Lined premium leather upper• Hand sewn construction• Made in the Dominican Republic

Penny Loafers: This shoe has a strap with a split design. This opening in the strap was soon used as a way to add a decorative touch to the usually simple loafer and small objects, such as pennies, were often placed there.

• Lined premium calfskin leather or suede leather upper and single oak leather sole

• Hand sewn construction• Recraftable• Made in the USA

$275

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$195

$185

$275

Oxford/Lace-ups: The oxford is the most basic and timeless of the dress shoes and it is characterized by its “lace-up” ability.

• Lined premium calfskin leather upper and single oak leather sole

• Goodyear welted construction• Recraftable • Made in the USA

$385

$150Boat Shoes: Due to their unique design and construc-tion they are not just great for boat decks but the perfect footwear for summer months.

• An AE by Allen Edmonds shoe• Lined premium calfskin leather upper• Hand sewn construction• Made in the Dominican Republic

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Golf Shoes: In collaboration with professional golfer Jack Nicklaus, Allen Edmonds carries a line of spiked and spike less soled shoes.

• Lined premium calfskin leather upper• Tap Waterloc® golf sole with removable

golf spikes• Goodyear welted construction• Recraftable• Made in the USA

$295

Wingtips: This toe style has a winged cap that peaks in the middle of the toe and this is the most popular of the “toe styles.”

• Lined premium calfskin leather upper and single oak leather sole

• Goodyear welted construction• Recraftable• Made in the USA

$385

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$295

$385

Boots: Built like your standard Oxford, the dress boot is generally the same shape with a longer shaft.

• Lined premium calfskin leather upper and butyl leather sole

• Goodyear welted construction• Recraftable• Made in the USA

$385

Allen Edmonds guarantees that customer’s shoes will last for decades through their re-crafting services. Instead of purchasing a new pair of $300 shoes after a couple years of wear and tear, customers can choose a re-crafting package. There is a va-riety of packages that range from replacing the heels to completely remaking the shoe.

Recrafting:Heels package - $50• Remove worn heels• Replace heels with new leather heel bases

and Allen Edmonds rubber top lifts• Trim Heels• Ink and burnish the edges

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Refinishing package - $50 • Remove built up layers of wax, polish

and dye• Restore original color• Apply protective finish Wax and polish to

a high shine

Standard package - $125• Replace Soles• Replace Welting• Replace Cork layer under insoles• Replace Laces• Replace Heels• Refinish the Uppers

Prestige package - $150 • Replace Soles• Replace Welting• Replace Cork layer under insoles• Replace Laces• Replace Heels• Refinish the Uppers• Hand-Polish Leather• Premium Care Product• Aromatic Cedar Shoe Trees• Protective Shoe Bag

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Clothing and accessories make up a small percentage of Allen Edmonds sales. They believe that great products are not the result of good design. This is why they use the finest materials to make their clothing and accessory lines, just as they do with their shoes. Their clothing line, introduced in 2013, is consisted of sports coats, vests, shirts, sweaters, jeans, pants, outerwear, socks, ties and bow ties. A majority of these products are made from 100 percent wool, cotton, cash-mere, or silk. Allen Edmonds carries a wide variety of accessories: belts, personal accessories, bags, outdoor accessories and home accessories. Their belts and bags are made from a variation of premium leathers. Some personal accessories such as cufflinks are made from silver as well as manufactured in the United States. Outdoor accessories such as hats, gloves and scarves are made from wool and are known for their warmth and durability.

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Clothing and Accessories

OverviewThe U.S. footwear industry is very large and extremely diverse. Even breaking the industry down to primarily men’s dress shoes, leaves consumers with hundreds of brands to choose from. Men’s dress shoe brands also vary in price, style and quality. Brand personality and heritage also seem to largely affect the industry, which creates even more diversity. Although Allen Edmonds competes for market share with the entire men’s shoe industry, we have narrowly defined its place as a men’s dress shoe brand. Dress shoes offer many benefits other than their appearance or style to the men who wear them. They are a sign of wealth, success and values. The brands chosen by Allen Edmonds current target are often chosen because of their heritage and the quality of the product. The shoes give men the status they have dreamed of or worked tirelessly to obtain.

Evaluating CompetitionBecause men’s dress shoe brands are so dynamic and diverse, no two brands or products are exactly alike. In order to analyze Allen Edmonds’ competitors, we took into account certain attributes of the brand and found the other brands that compete with that attribute. The attributes that we considered when determining competitors are the following:

Heritage, Shoe Care Service, Crafting Process, Price and Quality

Competitve Analysis Part 1

Allen Edmonds focuses largely on the tradition and heritage involved with being an American made brand with strong roots and values that they have stayed true to since 1922. The brand that competes directly with pride in their heritage and being American made is Rancourt & Co. They also have a similar handcrafting process to Allen Edmonds and highlight their employees who make the shoes. Another similarity to Allen Edmonds is their shoe care services that allow customers to refurbish or resole their shoes. Their dress shoes are priced very similarly to Allen Edmonds and have similar classic style. However, Rancourt & Co. has a much smaller retail presence and has a more local focus. They were founded in Lewistown, Maine and remain there. They also offer women’s shoes and while they sell men’s dress shoes, they seem to focus on their penny loafers, boat shoes and slippers.

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Alden is another company that focuses on its heritage and has stayed true to being an American made brand. They also have continued to handcraft their shoes since 1884. Their shoes are slightly more expensive than Allen Edmonds’ shoes but they do offer a shoe care kit and a restoration service. They have a similar focus on tradition and class but have a smaller presence in retail stores. They are a much smaller company in general and have a much smaller product offering.

Not many men’s dress shoe companies handcraft their shoes like Allen Edmonds does but there are a few. One company that still handcrafts their shoes is Johnston & Murphy. However, they do this process in Italy. They have a much larger product offering than Allen Edmonds. They sell men’s and women’s shoes, apparel and accessories. Their dress shoes are priced a little lower than Allen Edmonds, but are also lower quality. They do offer a re-crafting process and also have shoe care products. They seem to be focused more on keeping up on trends versus heritage and tradition.

Cole Haan is another company that handcrafts their shoes, however they do this in many different locations internationally. They have a larger product offering than Allen Edmonds as well. They sell men’s and women’s shoes, bags and accessories. They have stores internationally and a strong retail presence. Cole Haan’s men’s dress shoes are cheaper price and quality compared to Allen Edmonds. They aim to position themselves as a brand that mixes tradition with modernity, unlike Allen Edmonds that focuses solely on tradition.

J. Crew recently released a new product line of professional wear called J. Crew Ludlow. It includes men’s suits, shoes and accessories. The shoes are handcrafted in Italy and sold in J. Crew stores internationally. Style wise they are very modern, appealing to younger men, but also have a classic feel. Their dress shoes are priced similarly to Allen Edmonds but they do not offer any shoe care services. J. Crew also has a large amount of loyal customers, especially with younger men, which Allen Edmonds is hoping to target.

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LUDLOW

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When it comes to millennials and the shoe industry, Allen Edmonds indirectly competes with more than just dress shoe brands. Most millennials wear more athletic or casual shoes on a daily basis and have focused their spending on these types of shoes. There has been a recent increase in the price of athletic and casual shoes. Allen Edmonds being a higher price and higher quality shoe and wanting to target millennial men will indirectly compete with these brands selling higher priced casual and athletic shoes.

Evaluating CompetitionWhen it comes to targeting millennials for Allen Edmonds shoes, we took into account what shoe brands millennials are spending their money on. Sixty three percent of men aged 18 to 34 have made a purchase on athletic shoes in the last 12 months while 62 percent bought casual shoes and only 46 percent bought dress shoes. So in evaluating Allen Edmonds’ competition we considered brands that are selling dress shoes to millennials but also brands that are capturing a majority of millennial men spending.

Millennial Dress Shoe BrandsJack Erwin and Paul Evans are extremely new and modern companies. They are slightly cheaper than Allen Edmonds and seem to target a younger market. They have a much smaller product offering. Jack Erwin is a style-forward, web-based shoe brand that is easily accessible for all, thanks to their greatly appreciated free shipping and free returns policy. Jack Erwin’s dress shoes on average are $200 and the company takes pride in its ap-proach to provide customers with dress shoes that are not very expensive. Their shoes are made of nice leathers but they do not offer shoe care services or focus too much on quality. Paul Evans shoes were made in Italy, but designed in New York that have recently made headlines in fashion forward publications like Esquire magazine and Fash-ion Hotbox. Their dress shoes are on average about $375. They focus on the quali-ty of the shoes but do not offer re-crafting services.

Competitive Analysis Part 2

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Competitive Analysis Part 2 Millennial Athletic and Casual Shoe Brands

Nike, Adidas and Timberland are leading the pack in bringing in the most revenue and attention from millennial men. Nike and Adidas are winning millennial’s loyalty and attention by constantly introducing new styles and colors of athletic shoes. They also have strong relationships with some of millennial men’s favorite athletes and celebrities, which seem to justify the increase in price for these types of shoes. Something all three brands are doing to capture millennial’s money is portraying the lifestyle that the shoes embody rather than just the functional features.

Perceptual MapY-axis: QualityThe y-axis demonstrates the quality of shoe that each competitor produces. When comparing brands based on quality, we considered: materials used, production process, and shoe care services or products. The placement along this axis shows which brand’s positioning focuses more on quality compared to other benefits. Brands that stress the attribute of quality are placed at the highest point of this axis. X-axis: PriceThe x-axis displays how much brands focus on the price of their products while targeting consumers. When comparing prices of Allen Edmonds to competitors, we focused on the average price of their men’s dress shoes. The brands with higher priced shoes are placed to the right while brands with lower priced shoes are placed to the left.

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Allen Edmonds is located between the price and quality axis, with a slight preference to quality. They are located in this quadrant since the brand focuses primarily on the quality of their shoes. They are also placed pretty highly when it comes to price because while they are not the most expensive brand, they are more expensive than most. Having this perceptual map for Allen Edmonds is a great way to help consumers visualize that the price of the shoes are worth the quality.

2015 Marketing Strategy

Previous Marketing Effort

“It all starts with great looking product and great photography. As a domestic manufacturer, our advantage is that we can continually tweak products until

we are sure they’re ready for the market. We partner with three different photographers, each specializing in specific environments to ensure our products always look great. We create almost all of our content in-house which gives us strong control of our brand messaging. Then we measure

everything so we can optimize content over time for continual improvement.”

-Colin Hall, VP of Marketing

HistoryWhen Allen Edmonds was

established in 1922 under the name Osteo-Path-Ik, the promotions

focused on the flexibility of the shoes. During the Great Depression in

the ‘30s, the company thrived and expanded due to mobile display cars.

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Allen Edmonds gained national recognition for its contracts with the government During World War II. Many Army and Naval men that wore the shoes became customers after the war, increasing sales immensely. For years the company relied solely on word-of-mouth promotion through customers and testimonies from the shoe clerks. In the 1980’s President John J. Stollenwerk began to market to a more concentrated niche, earning the company’s reputation for high-end dress shoes and upscale retail stores. He also expanded distribution internationally, which sparked peoples’ interest in European countries. Allen Edmonds earned its spot as “An American Original” when President Reagan began a trend of wearing the Park Avenue shoe on Inauguration Day in 1981, followed by Presidents H. W. Bush, Clinton, and G. W. Bush. The year 2000 marked the beginning of online marketing as Allen Edmonds.

Events Allen Edmonds introduced the Honors Collection, its new line of golf shoes, by providing every participant of the 2010 PGA Championship with its Player’s Shoe.

PartnershipsIn 2005 Allen Edmonds partnered with Soles4Souls®, which gives shoes to people in need. Allen Edmonds offers a discount to anyone who brings in a pair of shoes to donate, and has sent over 70,000 shoes since.

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To celebrate the 90th anniversary, Allen Edmonds held a men’s shoe design competition with the students of Parsons The New School for Design. This event helps market the shoes to a younger consumer.

Product PlacementAllen Edmonds has provided shoes for many iconic American movies, most recently for “The Butler,” “Saving Mr. Banks,” “Mary Poppins,” “American Hustle,” “White House Down,” “Django Unchained,” “Argo,” and “Titanic.” The company also promotes shoes through a few USA Network TV series: “White Collar,” “Suits,” and “Burn Notice.”

Celebrity EndorsementsBen Crenshaw and Jack Nicklaus, two highly respected American golfers, have helped Allen Edmonds promote its golf shoes line that was introduced in 2011.For The Lonely Island’s 2013 album, they wore Allen Edmonds shoes for their art-work photo shoot.NBA player Blake Griffin agreed to wear Allen Edmonds shoes to red carpet events during the All-star break in 2013.

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Product FeaturesBesides the fact that every president since Ronald Reagan has owned Allen Ed-monds, some celebrities that have been cited wearing them, including LeBron James, Leonardo DiCaprio, Kendrick Lamar, Shaun White, Larry King, Vince Vaughn, and Darren Criss. Even Stephen Harper, Prime Minister of Canada, and János Áder, President of Hungary, favor Allen Edmonds. The brand is often featured in GQ, Men’s Journal, Esquire, and MR Magazine.

Brand ExperienceAllen Edmonds’ marketing efforts tell a story about the products. Through an inte-gration of retail stores, product lines, and online mediums, the company communi-cates a message of values and history.

Retail stores are being transformed to incorporate premium materials such as wood and leather to represent the quality and attention of the handcrafting process while maintaining a traditional appearance.

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Timeline of CatalogsCatalogs: Allen Edmonds relies heavily on their seasonal catalogs to market their shoes and featured styles. Their catalogs have changed tremendously over the course of half a century. Due to new technological advancements and modern day marketing practices the brand has changed the look and feel of its catalogs dramatically.

Digital Marketing EffortsAllen Edmonds utilizes innovative digital technology to show how to care for the quality of their products as a handcrafted quality driven brand. The use of YouTube has become a popular way Allen Edmonds can interact with their consumers. Their YouTube channel features videos on their handcrafting process, their overall brand essence and how-to videos. From casual shoes to patent leather and suede, users can find step-by-step ways to preserve their shoes from how-to tidbits. Their digital superiority gives them an edge towards millennials online attraction.

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Breakdown of Previous CampaignsIn 2012, Allen Edmonds paired with digital agency, BlueHornet to develop a two-week campaign plan optimized to drive Incremental revenue through Increased engagement. They wanted to push their annual Allen Edmonds Rediscover sale through email marketing techniques. Their mission was to drive more sales than ever by maintaining interest and engagement throughout the entire sale. The results were astounding, reducing opt-out spikes with a 196 percent increase in revenue from the previous year’s efforts. By framing out a plan based on subscribers’ past engagement data, and by testing and optimizing the web to reflect learnings from current engagement data during the campaign, BlueHornet fostered success for Allen Edmonds. “Since transitioning to BlueHornet, email has become one of the biggest revenue generators for Allen Edmonds,” said Director of Marketing Luke Gibson.

Marketing AnalysisAllen Edmonds relies heavily on their product placement in magazines, catalogs and popular media sites and the overall brand experience from customer service, to retail spaces, to company communication. You can find celebrities and influential male figures wearing a pair of Allen Edmonds. The company’s use of digital technology has enabled them to reach a greater audience, with opportunities to reach millennials. The company sends out catalogs seasonally to reach loyal subscribers and potential customers.

Sales and Company PromotionsAround Columbus Day for the past five years Allen Edmonds has had the Rediscover America Sales Event to celebrate its traditional American values and bring attention to the company’s efforts to manufacture at home.

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Positioning StatementTo aspiring businessmen who want to convey success and confidence, Allen Edmonds is the men’s dress shoe that provides a sophisticated appearance that will last you a lifetime while remaining true to the

company’s American origin and values.

RationaleAllen Edmonds became a new kind of Shoe Company when they opened their doors in 1922. The use of Goodyear welting allowed for shoes to be nail-less and shank less. Which in turn, made the shoes more comfortable and an instant success. The handcrafting and attention to detail that Allen Edmonds offers is what has set them a part from other brands and is why multiple presidents of the U.S. are among those who wear the brand. In addition to the handcrafted quality, Allen Edmonds offers a wide range of styles and sizes. So whether you are a size six or sixteen, there is a shoe for you.

Competitor PositioningAllen Edmonds isn’t the lowest priced brand, but their quality compared to competitors will ensure a longer life for your shoe.

Companies considered to be Allen Edmonds direct competitors were evaluated on their heritage, shoe care service, crafting process, price and quality. Allen Edmonds displays these attributes by continuing to produce their products in the United States, offering Recrafting, their 212 step handcrafting process, and falling in a favorable position on the perceptual map.

Rancourt & Co. has lower priced products that have been evaluated as equal quality as Allen Edmonds, but they fall short with their retail presence. So while they technically fall in a better position on the perceptual map, Allen Edmonds has the potential to be the category leader due to their strong retail presence.

Brand Equity & Positioning

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Personality & Brand EssenceThe Allen Edmonds brand has established itself on American heritage and quality. They are a trustworthy brand built on the loyalty of their customers. It is a brand that is handed down from generation to generation. Customers have faith in the brand because of the quality they ensure with their 212 step handcrafting process. Allen Edmonds is known for their service, work ethic and Midwestern values. They not only treat their customers well, they treat their employees well.Allen Edmonds has branded themselves to continually show just that.

Communication StrategyOnline Allen Edmonds has covered the basics of promoting their products in the social media world. Their Facebook, Twitter and Instagram accounts post similar content at similar times throughout the day. These posts include information on current promotions they are running, new products and chances to win free products. Posts across these social media platforms are regular but interactions with consumers are more prevalent in the Twitter world. Allen Edmonds also has a YouTube channel where they post informational videos on how to care for shoes, how to style products and the handcrafting process. However, their voice on YouTube has been non-existent over the last four months. Their Pinterest account is currently reaching less than 2 percent of their Facebook audience.

Coupons Allen Edmonds has a strong presence in the online coupon world. They offer coupons on top coupon websites such as Retail Me Not, Groupon, Coupon Chief and Coupons.com. Coupons range from free shipping to 50 percent off a purchase. These websites are also used to promote Allen Edmonds’ every day promotion of free shipping.

In-StoresAllen Edmonds prides themselves on their excellent service. Most of their master-fitters have over a decade of experience in helping customers find the perfect size and style of shoes. These experienced associates help set Allen Edmonds apart and promote their brand’s mission.

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Print Allen Edmonds has run a handful of print ads featuring their shoes. However, their biggest presence in print is product placement in magazines. These often include fashion features or celebrity profiles. Allen Edmonds also publishes their catalog seasonally.

Causes and Partnerships Allen has partnered with Soles4Souls, which is an organization that donates new or gently worn shoes. While being partnered with Soles4Souls, Allen Edmonds has donated over 70,000 shoes. When donating a pair of Allen Edmonds, customers can use a coupon code to get $35 off their next purchase of regular priced shoes.

SWOT

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StrengthsMade in America• Allen Edmonds holds their reputation among consumers as the ‘American

Original’ for the fact that they have been handcrafting their shoes in the U.S. for 93 years.

Commitment to quality• Allen Edmonds prides themselves on using the finest materials for their shoes,

clothes and accessories. They also handcraft a majority of their shoes, guaranteeing they go through 212 steps to make most comfortable and durable shoe.

Ensuring the perfect fit• Allen Edmonds offers over 100 sizes and employ master-fitters that are

professionals in finding customers their desired style and correct size.Consistent customer service• Allen Edmonds customer service goes beyond the skilled master-fitters that help

customers in stores. The service continues when customers send their shoes in to be re-crafted, where they can feel confident that their shoes will be fixed properly and returned as quickly as possible.

WeaknessesLow advertising effort• Allen Edmonds has a low advertising presence in the traditional medias, as well as

social medias.Price point• Allen Edmonds is on the more expensive half of their competition and is more ex-

pensive than all of the competition they face for millennial’s money.

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OpportunitiesSocial Media Engagement• Allen Edmonds covers all the basics of social media including Facebook, Twitter,

Instagram, YouTube and Pinterest, but do not utilize them to their full potential. Millennials are heavy social media consumers and respond positively to brands that have a predominant and entertaining social media presence.

Partnerships with national philanthropic causes• Millennials are more willing to spend their money on brands that benefit a

philanthropic cause. With Allen Edmonds’ American focus, they could easily partner with causes that have an American focus and loyalty.

Omnichannel marketing to bring together mobile/online use and in store purchases• Millennials expect brands to use omnichannel marketing. This could potentially

solve the disconnect between their encouragement of coming in-store while still selling their shoes online. With using omnichannel marketing, their physical stores and their online presence could seamlessly work together.

ThreatsGrowth of e-commerce • A key element of Allen Edmonds’ brand is going in to a store and getting properly

fitted by a master-fitter. Millennials are shopping online more than they are in-store, so there is a chance that they would not experience the brand as Allen Edmonds intends them to.

Millennials perception of “tradition”• Allen Edmonds has lived on their American traditions for the past 93 years. The

values of the millennial generation are much different from the generation that built Allen Edmonds; this could give millennials the idea that Allen Edmonds is for older generations.

Growing trend of casual attire• Millennials are spending their money on casual and athletic clothing and dress

codes in the workplace have also started becoming more casual. This could make it much harder for Allen Edmonds to win over their desired aspiring businessmen.

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This Situational Analysis tells the Allen Edmonds story up to where they currently stand as a men’s dress shoe company. After analyzing past and current Allen Edmonds strategies and consumer targeting, we have come up with key takeaways we feel will benefit the future research, ideas and strategies of team 2 and team 3 for Allen Edmonds. 1. Omnichannel Marketing There is no longer a strong distinction between shopping in-store and shopping online. Consumers are beginning to expect the two to be integrated. Whether this be through iPads being available for shoppers in stores or using technology online to allow consumers to visualize themselves in products, omnichannel marketing is becoming more prevalent everywhere. Omnichannel marketing could be helpful for the brand because millennials tend to make more online purchases but Allen Edmonds still encourages customers to come into the physical stores. Seamlessly integrating online and in store shopping will bring the brand and the consumer together.

2. Social Media Engagement Because Allen Edmonds’ previous target was older, conservative men, social media engagement was not crucial for their success. However, millennials want to build a relationship with the brands they choose. Social media engagement is the obvious solution for Allen Edmonds to be able to connect with millennial men. When it comes to posting on social media, brands can no longer rely only on having accounts and posting sporadically. They need to be active and engage their consumers on a personal level, consistently. Allen Edmonds needs to take advantage of the growth of social media engagement to help aspiring businessmen feel like they are a part of their brand. 3. Sponsorships/Partnerships with Social Causes Because Allen Edmonds is a company that focuses on its heritage, story, and values, collaborating with a social cause would only enhance their brand essence. However, it is important that if they do partner or sponsor with a social cause, it is one that aligns with the brand and their values. This is especially effective when it comes to targeting millennials. Most millennials believe that it is important to contribute to society and prefer to support causes that help people and issues. With their focus on American loyalty and support, we believe that Allen Edmonds could easily sponsor or partner with other companies with a similar focus.

Conclusion

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