Contents
Introduction 3
The Business Opportunity 3
Executive Summary 4
Industry and Market Analysis 4
Analysis of Competitors 4
Market Segmentation 4
Description of Business 5
Products 5
Services 5
Operational Plan 5
Human Resources Plan 6
Marketing Plan: 6
Financial Plan 6
Income Statement 7
Introduction
The online business which we are going to start is to provide the customized shoes which will be prepared according to the customer preferences. Some customers feel very difficulty in finding the shoe according to their preferences.
The name of the website is the “RUNNIES.COM”.
Initially we are targeting the people of Oxford. Oxford is the academic hub in United Kingdom. The first preference will be preparing shoes for the people having inappropriate sizes (either too small or too large). We are also focusing on the people with the standard sizes who want to design the shoe according to his/her own preferences and the person with the standard size will also be focused. We are also providing the after sales services. For instance, if a shoe is ripped or cracked within the certain time we offer a free repair.
The Business Opportunity
It is very hard for the new entrants to survive in the fashion industry unless they offer good quality products and up to dated to the trends in the market. There is no such competitor to runnies.com, who offers the customized shoes according to the customer preferences. Offering shoes to the people with inappropriate sizes also gives us the competitive edge over the peers.
Executive Summary
Runnies.com is the online business in Oxford which provides customized shoes according to the customer preferences. It ...
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Income Statement
Income statement of Shoe online retailing (Pounds)
Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec
Revenue from sales 1750 2100 3150 4025 6825 7700 10500 15750 18375 21000 24500 29750
Rev. from advertisements 100 100 100 100 100 100 100 100 200 200 200 200
Total revenue 1850 2200 3250 4125 6925 7800 10600 15850 18575 21200 24700 29950
Less expenses:
Salaries(montly) 0 400 400 500 600 700 700 800 800 1000 1000 1000
Utilities 100 100 100 100 250 250 250 250 300 350 500 700
Payments to Factory 1225 1470 2205 2817 4777.5 5390 7350 11025 12862 14700 17150 20965
advertising 100 100 100 100 200 200 200 200 250 250 300 300
Total expenses 1425 2070 2805 3517 5827.5 6540 8500 12275 14212 16300 18950 22965
Profit/loss(pounds) 425 130 445 608 1097.5 1260 2100 3575 4363 4900 5750 6985
I have divided this essay in three main parts. In the first part, I will give the description of the whole advertisement. The second part will be analyzing the ad and the third part will be the conclusion about how people got convinced by this ad to buy their soccer shoe. Nike Inc. is an American multinational corporation that is into designing, manufacturing, developing and marketing services worldwide. It also provide service in footwear, apparel, equipment, and accessories. It is one of the world's largest suppliers of athletic shoes and apparel. It is also a major manufacturer of sports equipment, which generated revenue in excess of US$24.1 billion in its fiscal year 2012.Nike employed more than 44,000 people worldwide as in 2012. The brand alone is valued at $10.7 billion. Hence, making it the most valuable brand in sports.
CIMA Mountaineering, Inc. is a company manufacturing in hiking and mountaineering boots for beginner to experience hikers. CIMA sales and profit had grown steadily within the last several years. However, CIMA growth is beginning to slow down as a result of foreign market and changing market. The company is under consideration of two marketing proposals, these two marketing proposals will discuss about marketing strategies for increasing sales and profits of the company. CIMA Mountaineering, Inc. has to decide whether they should enter the "weekend" segment of the hiking boot market or extend the existing lines of boots for mountaineers and hikers to achieve their objective.
The author targets a certain consumers, people who are “stressed and sore-footed.” By targeting consumers for the “MagnaSoles” shoe inserts, it creates a purpose for the product to be marketed. With the “stressed and sore-footed” people, the author adds that they are “clamoring,” shouting, yelling, and demanding, for the new shoe inserts, which creates the allusion that the product works and is worth the money.
Due to the good establishment of the business, it has huge market national. The company has therefore opened many retail shops and stores all over the country to ensure that their products are accessible to the customers. The entity provides a favorable environment, and many clients view the place as a fun shopping place to be. The retailer has targeted a big pool of customer because of the variety of products it sells. The stores products vary from kitchen goods, jewelry, and electronics clothes to hardware
Product: As an athletic shoes producer, they try to provide better quality and more comfortable shoes that fit to the sport player through research and development. By claiming their shoes meet the physics need of different sports, which help the sport player to maximize their ability by protecting them and reduce the sport harm.
While there are services similar to ours – such as try.com – when a customer shops online they are not choosing between services that allow them to try clothes on online. Our service is valued in the context of their total shopping experience, not as the end-all, or in other words the appeal of our product to them is not simply that they can try on clothes when shopping online, but that in trying on clothes when shopping online they can be more sure of as to whether or not the clothes will look or feel right, enhancing their total shopping experience. Therefore, in evaluating our impact on customers, our competitors will be viewed as other ecommerce websites (against us as the totality of TJX’s ecommerce and in particular how we enhance the value of
Although we have been expanding our facilities by building extra capacity, we have not been able to contribute shoes to the private-label and therefore, we have not employed a global strategy for that market. When we are able to sell shoes to the private-label footwear industry, we will also use a global strategy for that region as well.
The corporation should invest more money in research and innovation since this is what has helped them to make a product that rivals their competitors. At the same time, it is imperative for them to improve their machinery for cheap labor costs which will help the company increase its production allowing it to meet the demand in the market. By improving production leading to lower costs of making shoes, apparel, and equipment, Nike will achieve higher demand assuming a quality product is maintained in that process. They will stand a better chance of competing in the industry (Hill, 2009). The organization is already in a better position for meeting the demand, customer taste, and needs. The company should improve quality by focusing on developing lightweight products that are more durable compared to those offered by the competitors. Also, Nike can keep up their success by continuing to reinvent and improve their items and continue to meet the current demand by using new technology. It can also use the Internet to communicate with consumers (Hill, 2009). By developing new technology, Nike will allow the customers to suggest and design their shoes online. To achieve this goal, it is fundamental to enhance areas such as their website to make it more user-friendly. Finally, the company should pay attention to small startup organizations that enter the
In reviewing the case of New Balance Athletic Shoe, Inc. it is clear that there are a few major problems that the company is facing. First of all, New Balance falls behind its other major competitors, Nike, Adidas and Reebok, in the area of marketing. Unlike its competitors, New Balance does not undertake celebrity endorsements. This puts them at a disadvantage when it comes to brand building. This also causes the company to lose out somewhat on gaining awareness on a global scale as it lacks endorsements in major sporting events. Most global brand names generate strong brand recognition through celebrity endorsements in sporting events that would give them the needed momentum to carry their brand name further into the global market.
She has the right idea with the custom made shoes. The serious joggers would love this because they know what benefit they get from a shoe fitting perfectly. The small investment she has initially will be no problem once the word gets out that she has this special service or product off...
The Shoe Industry consists of a multitude of footwear categories, varying in utility, style and occasion. When overseeing the market for the shoe industry, we must look at the influence of all shoe trades universally to comprehensively understand how the disparities in sales relate to the needs of specific regions. The global retail market within the shoe industry currently represents $185 billion, driven primarily by Asian and Latin American economies and is expected to reach $211.5 billion by 2018. The growth rate globally was 6% between 2004 and 2008, contrasting to the 2% compound annual growth from 2008 to 2012. The United States holds over 24% of the overall industry size it projected over $48 billion in annual revenue in 2012. Domestically, the growth rate has been flat at 0.3%. On a unit volume basis, global footwear consumption for 2012 is approximately 11,421.3 million (in pairs), where the United States makes up roughly 2,741.1 million (in pairs). By 2018 the U.S. Census Bureau has forecasted a steady decline within demand domestically of 3% and an increase of 1% globally.
“Our main mission is to consistently deliver trend right designs to our customers. To further build our business, we will leverage our tremendous brand equity, dominant position in fashion-forward footwear, and industry-leading design team and will work to ensure that Steven Madden, Ltd. emerges as a global lifestyle branded company.”
Nike is the number one innovator in the world in athletic footwear, apparel, equipment, and accessories. This worldwide company operates in an extremely different organizational structure than other companies, such as Reebok and Adidas. Nike operates tremendous marketing strategies and develops inventive designs to inspire athletes around the world. This company is one of the largest suppliers in the world in athletic footwear and apparel, main producer of sports equipment, and making Nike the most valuable brand among sports companies. The task for Nike is to join diversity and inclusion to encourage ideas and innovation. Around the world, this company is a popular brand.
In the case of Nike footwear they have segmented into the following groups: Running shoes, Soccer, Basketball, Football, Hockey, Golf, Tennis, Skateboarding, men’s training and women’s training. Nike footwear has a lot of target markets but their main target market is athletes and fitness professionals. The second target market are people who train, work out and play sports as hobbies or who are semi-professional. Nike also targets the fashionable people. Nike footwear is has further segmented their market according to the people that endorse the products. For example: Jordan, Kobe, Lebron and Durant to name a few. The footwear segment has also been segmented on the bases of brands like Jordan and Converse. (Nike website). According to Svezia Nike will continue to use “premium channels of distribution to family and value channels, it will continue to segment and take market share wherever it presents itself.” (Canadian
Charles & Keith, a well-recognized women’s footwear brand was established in 1996 in Singapore Amara shopping centre by the two young brothers, Charles Wong and Keith Wong. The company began its foreign market venture in 2000. To date, Charles and Keith has a presence in more than 20 major cities around the world. The brand are well-known internationally today with the vision “to be the most admired fashion-forward company” and the mission “to offer high quality products and services, with a commitment to perfection” in mind all the time (Charles & Keith, 2013).