Marketing Strategy and SWOT Analysis of Crocs 

Crocs, founded in 2002, has emerged as a key player in marketing and selling Casual Lifestyle footwear and accessories for all in over 90 countries, having sold over 500 million footwear since its start. Croslit material, a proprietary and trademarked feature, is a groundbreaking technology that offers each pair of Crocs shoes soft, pleasant, lightweight, non-marking, and odour-resistant properties. This blog will provide an overview of Crocs marketing strategy,

The mission and vision statements of Crocs.

The vision statement of Crocs is: “Everyone Comfortable in their on shoes.”

Crocs Inc’s vision statement is its future strategy plan; it explains what and where Crocs Inc Company wishes to be in the future. Crocs Inc’s vision statement is a document that identifies Crocs Inc’s aims to ease strategic, managerial, and general decision-making processes.

Crocs Inc’s vision statement is succinct and to the point. This indicates that the corporation should have employed lengthy discourses and conversations to communicate its position to the public and essential stakeholders. The vision statement should be concise and thorough; it should explain the essence of the company and its future intentions to assist stakeholders in understanding its business philosophy and strategy.

The mission statement of Crocs is: “At Crocs, we take our fun as seriously as we take our collective mission to make the world’s most delightfully comfortable shoes.”

Crocs Inc’s mission statement is a public document that describes the company’s principles and strategic goals. Crocs Inc’s mission statement also highlights its purpose, emphasizing its services and goods. Furthermore, the mission statement specifies Crocs Inc’s operational goals, the firm’s methods to attain those goals, the target consumer groups, and the company’s location.

Crocs Inc’s mission statement focuses on addressing customer satisfaction concerns. Crocs Inc’s mission statement identifies its target client categories as well as their wants and desires. The mission statement describes how the company’s products and services help to increase customer satisfaction among its target consumers.

Crocs Inc’s mission statement is motivating in that it strives to inspire workers and the workforce to give their best performance toward Crocs Inc’s goal attainment. Crocs Inc’s mission statement is also inspiring in that it instils in employees the need for growth and advancement – not just for the firm but also for themselves.

Next up, we are going to discuss the positioning plan of Crocs.

Whether you love or despise them, Crocs has seen a comeback in recent years. The footwear firm has recently solidified its success with record revenues: influencers, Oscar attendees and others who care more about comfort than style wear Crocs. 

Crocs revealed in its Q2 2021 financial statement that the company had attained revenues of $640.8 million for the quarter, a 93.3% increase over the same period in 2020. As a result, Crocs has boosted its full-year projection, with sales likely to climb by 60% to 65% over 2020. 

So, what factors have contributed to Crocs’ recent success, and what can we learn from it?

Crocs is about utility rather than fashion. Croc’s current success originates from its choice to embrace its contentious character and instead focus on an existing passion for the brand rather than reworking its design to meet trends or attract a new audience.

At this time, it is clear that Crocs is a member of the Jester archetype.

What information do we have about the Jester?

Desire: to be wholly immersed in the present moment.

The goal is to have a good time while brightening the planet.

Play, tell jokes, and be humorous.

The archetype’s message levels are as follows:

Level One: apathy, dullness​

Level Two: life as a competition, joy​

Level Three: intellect utilized to deceive others, avoid danger, and find ways around obstacles, metamorphosis​

Level Four: living life in the present moment, one day at a time

The Jester persona might be an excellent brand identity:

• Whose assistance enables individuals to feel as if they belong;
•  Whose operation allows people to have a good time with average to low price manufactured and promoted by a company with a fun-loving;
• Separated Laid-back organizational culture.

Crocs SWOT Analysis

Strengths. 

Association with celebrities: The company has a significant social media presence, with over 5 million followers across digital platforms. 

Crocs, the 10th biggest non-athletic brand, focuses on a restricted number of product offerings, such as clogs and sandals as flips and slides in its product range, which assists the firm in catering to the demands of a narrow sector of customers.

Synergies and its value delivery channel assisted the firm in selling more than 55 million pairs in 2016 through wholesale, company-owned retail shops, and e-commerce platforms. It collaborates closely with logistics organizations to improve operational efficiency and optimize its distribution route.

Crocs footwear design: Crocs has many comfortable and waterproof items. 

Weaknesses. 

Firm-Owned Outlets: Although the firm in the footwear market works with both the franchisee and company-owned outlets, Crocs runs 556 company-owned shops, implying that the company has developed duplicate assets that may impair its profitability.

Product Myopia: Companies such as Nike, Adidas, and others provide a diverse choice of footwear, from casual wear to sporty to formal wear, yet Crocs’ presence in the only non-athletic area may impact its profitability in a competitive market.

Safety Concerns: The Crocs’ substance is non-biodegradable and dangerous since it slides on the surface and causes various health problems.

Opportunities. 

Diversification to other business segments: Because the firm operates in non-athletic business sectors, diversifying to different features and associated companies such as travel bags, purses, and so on would help boost its profitability.

Changing Lifestyle: The saturation of established nations and changing tastes and preferences have resulted in high demand for footwear in developing economies.

Market development: Because of the high level of competition in both developed and emerging countries, accessing new markets will be the only way to flourish in the future.

Product line development: Extending its product range will provide new prospects while also allowing it to differentiate itself from the competition.

Backward integration: By integrating its value chain through backward integration, the firm can secure its intellectual rights and combine its R&D.

Threats. 

Although Crocs is a global brand, it faces severe competition from counterfeit products and stylish items from other companies such as Wolverine World Wide, Sketchers USA, Nike Inc., Reebok, Lotto, and Adidas.

Short Lifecycle: Continuously changing lifestyles and fashion, resulting in a short life cycle of footwear designs, is a big challenge to the business.

Supplier Dominance: Because a large portion of the firm’s production comes from outsources, suppliers and value-chain organizations have greater negotiating leverage over the company.

Government Regulations: Import limitations, foreign investment policies of the government, taxes& tariffs play a significant part in the company’s performance and impact the company’s operation and business in the long term.

The segment that Crocs has chosen to target.

It’s no wonder that Crocs have earned global fame and reputation, with more than 100 million pairs sold each year and sales growing yearly. Crocs are incredibly functional, comfy, adaptable, and reasonably priced. Besides its usability, Crocs are far more eco-friendly than many other shoemakers and are aware of the environmental effect of their products.

Most notably, they recycle scrap materials from the production process; they switched to a new bio-based substance that substantially decreases their product’s carbon footprint; and they seek to utilize little packing during shipping and sustainable packaging alternatives. 

The primary and secondary raw materials utilized throughout the product lifecycle include ethylene-vinyl acetate, leathers, colour dyes, rubber, metal rivets, mesh, adhesives, aluminium, steel, petroleum, coal, and oil. Crocs use fewer raw materials than other shoe companies. Most materials are naturally produced and regularly recycled throughout the product life cycle.

Are these raw resources harmful to the environment? What initiatives can Crocs take to improve their environmental sustainability? The solution is more complex than you would expect. 

The company manufactures Crocs using injection moulding, necessitating particular machinery and moulds for various designs and sizes. Injection moulding is a manufacturing method best suited for high-volume production and is commonly used to produce goods out of thermoplastics, such as EVA. The mould, often constructed of aluminium or steel, must first be created for injection moulding.

Before being processed into alumina, they extract aluminium from the Earth’s crust as a mineral called bauxite. Smelting alumina into aluminium metal requires a large amount of power. They manufacture steel from iron ore collected from the Earth’s crust (underground). Water is generally a cooling agent since proper cooling is crucial for this industrial process. There needs to be evidence that they are implementing water-saving strategies. Leather, colour dyes, rubber, metal rivets, mesh, and adhesives are other components used in production. 

Waste management is the final stage of a product’s life cycle. Crocs, Inc. and Soles4Souls have collaborated to develop a program in which you may recycle your Crocs shoes for a “second life.” You may also donate them if you choose.

They are in high demand, and you are also helping to collect revenue for worthy causes. You may take your old shoes to a drop-off station near you to decrease greenhouse gas emissions from vehicle transportation. You can send them if you have more than five pairs to contribute. 

It rapidly becomes apparent that Crocs has chosen Nesters as their target market.

Values and lifestyle

Nesters place a high value on spending time with their families. They intend to satisfy and relieve their family with every action they take and objective they achieve.

This industry enjoys establishing family traditions. Simple get-togethers on weekends, where they may eat and talk, are among them. As a result, they experience a sense of belonging.

Nesters like cooking for their loved ones. As a result, the kitchen is usually a favourite room in the house.

 Nesters are often dedicated. They enjoy following traditions and values. That is true for friendships and relationships as well as religion.

Nesters expect their neighbours to be honourable and honest, and they hold people in high respect.

This sector likes to go with the flow regarding life and to make decisions.

Nesters value comfort more than fashion, which also extends to their taste.

Nesters love making plans. They frequently follow a routine. They usually work in a field that they are comfortable with. Financial rewards outweigh stability.

Nesters want a spouse who shares their beliefs because family is important. They should get along with the family of their prospective partner.

As a result, they employ “tried but proven” technologies. That is preferable to testing and discovering that it was ineffective.

Shopping strategy:

Nesters generally shop at low-cost local businesses. They look for deals and discounts as aggressively as they can. They dress accordingly, putting comfort before the trend.

Nesters prefer to spend their time effectively. As a result, they take special care to plan ahead of time for their shopping outings.

They will ride bicycles to the store if it is closed. Cars exhaust in this section.

Nesters like to bring their families with them when they go shopping. For example, long journeys to the grocery store are tedious when done alone.

Nester likes to shop at low-cost grocery stores since they allow him to buy more for less.

Nesters should be more interested in new trends. They continue to dress in the way that makes them feel the most at ease. They also prefer to purchase locally produced goods.

Other noteworthy details:

At home with your beloved family is the most appropriate place to be.

Home repair tasks and gardening are both in need of attention.

Now and again, the average TV watcher will watch a movie with a large family.

Typical bicycle riders are on their way to meet with friends in the neighbourhood.

Read regional issues-focused publications.

That concludes the blog concentrating on Crocs’ many marketing features. We discussed its goal, vision, archetype, SWOT analysis, and target market. Please visit our main website for more posts like this, where we routinely update our feed with something fresh.