Why Goldstar Shoes?
Why Goldstar Shoes?
Noor always had a clear vision of doing something on his own. He started and ended
business relating tender of trees and transportation at his younger days. Established a
business to make metal strings for which he imported Mica. Even more, he tried his
hand on little business but nothing wonder happened until he manufactured the first
pair of slippers called Hattichaap chappal in Hetauda along with his partners.
factory at Shankha Park was first established by the founders of Hathichap Chappal.
The idea was to mass produce cheap but good-quality shoes that everyone could
afford. After all, Nepal has always been a price-conscious market.The late Noor
Pratap JB Rana, was a visionary, and he choose equipment and technology that
delivered quality that would be hard to replicate by competitors. The technology made
it possible to produce quality products at low prices. Today, Goldstar has set a
benchmark in the footwear industry that other brands strive to meet.
GoldStar has been a leading brand in Nepal for a decade which gave them an
advantage over their competitors. It is kind of robust brand made with authentic
materials and modern technology. Goldstar never had to advertise its product because
of its durability.
Goldstar achieved its major success. As cliche as it may sound but Goldstar made
shoes “for the Nepali People” as the price of the shoes was affordable to a large
number of Nepali people. Furthermore, footwear was made so light weighted and
comfortable which provided a brand value to the company. It offers a wide range of
products to each and every age group. Either you are on trekking, jogging or
somewhere else. Feel and walk with ease.
Some of the major attractions & reasons to keep an eye in this footwear are its:
Quality
Durability
Affordability
Raw materials:
Leather
Textile (cotton ,polyester, wool, nylon)
Synthetics
Rubber
Foam
SWOT Analysis
The following SWOT analysis captures the key strengths and weaknesses within the
company, and describes the opportunities and threats facing Passion Soles.
Strength:-
The opportunity of Goldstar shoes is Goldstar is to produce not only shoes but other
athletic product also like trousers jacket t-shirt, jersey and shocks which help to know
about brand although Goldstar which is known by shoes only they have opportunity to
renowned their brand through these product to continue this marketing manager
should maintain quality on theseproduct also which they maintain in shoes.
Weakness:-
The weakness of gold star is due to expansion of Chinese market in Nepal when
Chinese market enters in Nepal they give product at less price which today Nepal
market needs so marketing manager should do to overcome this threat is to marketing
product in better way compared what Chinese company as well they should capable to
known their brand to other people also which help them to sustain their product in
marketTherefore a marketing manager should create a different options, allows
consumers to getinvolved and choose a product over brands may not have the variety
the consumer seeks.
Consumer behaviour:-
Consumers' buying behavior is divergent and situational. For durable products, such
behavior got different dimensions again. To make the study simple and informative,
color television is used to represent the consumer durable markets. Television, as a
product, is getting the status of essential commodity all over the world. The potential
of TV market is indeed quite enormous. The Nepalese consumers were indifferent in
choosing the brand since a lot of close substitutes were available in the market.
However, they have changed ever since the Nepal liberalized its economy. Choosing
the right brand of television is difficult enough when there were half a dozen brands
and all of these claimed to give excellent picture quality. Marketing managers are
interested not only in the product but also the behavior of the consumers because it
gives them the right orientations for product development and positioning. The level
of consumer's satisfaction provides the scope for repeated purchases and brand loyalty
that lead to optimum profitability. This research finds that consumers' perception on
buying color television is mostly affected by the factors, such as, structural add-ons,
words of mouth, technical features, durability, ground reality etc.
How important a role has the marketing strategy played on creating a new
brand value?
As unbelievable as this may sound, the company’s marketing department was formed
less than a year ago. And for the first time in our company’s history,they are coming
up with a television commercial. Goldstar’s marketing game has always been based
on word of mouth referrals. But despite its popularity, the product wasn’t easily
available for consumers. Such a situation results in a loss of potential customers, as it
is natural for them to choose other brands when ours is not available. Instead of
simply focusing on sales volume, the marketing department will now work towards
creating a stronger brand image in the market.first started with the outlets of
Bhatbhateni Superstore, adopting the store-within-a-store model.Applied the same
concept in all the branches of Gorkha Department, a superstore that’s as popular as
Bhatbhateni in east Nepal.first retail store recently opened in Civil Mall, and franchise
store opened in Jamal, and planning to open at least 40 Goldstar franchise showrooms
across the country.
Conclusions:-
Goldstar did not achieve success overnight. It had to persevere much in the market to
gain its brand value. Its all about the story of continuous struggle, not giving up and
rising from countries biggest civil war. GoldStar as a Nepali Shoes Company appears
to be more popular among people across the country. Even more, GoldStar is now
sold in all over Nepal & India. Interestingly, it is gaining popularity in western
countries too.
The sole reason for the success of the Goldstar shoes is its completeness. People from
different places, seasons, economic classes, age, and gender can be able to consume
the products. In a developing country like Nepal, Goldstar has won the hearts of the
general public as people don’t have to think twice about purchasing the shoes in terms
of its quality as well as price. At last but not least GoldStar shoes history can be a
great lessons & inspirations for startup and businesses.