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E-foot Company is looking into establishing itself in the market through the selling of shoes via the net. To do this the company needs to evaluate on the best opportunities available in the market in order to ensure of customer satisfaction on the products been sold. The company will be looking forward to target the young men as their key target for the sale of the shoes. The company will give the young people the opportunity to be able to come up with their own design which they will place their order online for production.
The target customer is intended to respond very positively as they are the group that like fashion especially when they are having unique products. Prices of these products will be lowly priced in order to meet the young men's' capabilities of purchasing. Through them the company will be able to reach to the secondary market target which is their family members as well as the shoes for the pet. The company will have to enter into an agreement with Adidas which will initially be the producers and distributors of the shoes. The company expects to capitalize on the areas where the competitors have overlooked as well as employ new promotion strategies in reaching to its customers.
There have been great strides made by companies which have realized of the many opportunities available in marketing products online. This has been attributed to the current technological advancements and the improvement of the communication sector making the world become a global market. And since there are so many companies which are situated in particular places, it becomes impossible for the lovers of their products to get easy access to their products.
Fortunately, the internet has come and solved the problem by ensuring that\, one can place his/her order online and have the goods delivered at their door step without any hustles in order for the company to take advantage of the open opportunity. Another striking thing happening in the universe is the increased desire by people to have the latest designs of products and more so if the products are of their own kind.
The most hit group is the youth who are craving for uniqueness when it comes to their dressing codes. For that motivating reason, the E-company has purposed to get into the market and develop shoe brands which are mostly targeted to the young men who will be able to get the design of shoe from their own making. Hence the company has purposed to provide online designing and purchasing of shoes of the customer's choice.
The slogan of the company will be one that suggests to the customer the kind of uniqueness the company is bringing to the market. Hence, the slogan will be, "Design your own life". This will auger so well with the customers freedom of developing shoes of their own imagination and liking. The company logo will be as show in the appendix1 which will be revealing purposes of the e-foot company. The logo will have the color blue which means activity, being creativity and showing some kind of sports. The big letter E will let people be able to access our shoes through the internet. The lines drawn by the shoe means that, it's the design by the customer, while the black color will show the reliability of the shoe.
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E-foot is an upcoming company that wants to venture in the business of selling shoes through the internet. It's getting to an industry that's so much dominated by established companies which have well known brand names. To be able to overcome their comparative advantage, the company will be looking forward to establishing collaboration with the Adidas Company in order for it to use its name in the brands to be made.
It will as well participate in the collaboration through the development of designs which will be the duty of the customers to come up with their own design which the company will forward to the
The customers will get the opportunity to be able to come up with shoes types of their own types, size, and color and so on. This will be made possible through shoe-design software which will be available on the company's website to enable the customer come up with a shoe design of their own interest. To make the designing more interesting and productive, the designing will be conducted through games which the customers will enjoy as they carry on their own designing. This will be implemented to fulfill the company's' slogan which would say that, the customers have the overall control of having the kind of shoes they desire in their lives.
There will be thousands of shoe types from which the customers can choose from in order to personalize according to their own liking. The shoes will range from those having different kind of heels, toes, those that are flat as well as a rich variety of possible colors to match with. The customers will the opportunity to inscribe their own names if they so like on the shoe or have any other name of their choice.
There will also be some special categories type which will be going at a relatively higher price. This will be the hottest design categories which will have other added features. At the end of the day, a customer will design a shoe of their liking and then the modalities of payment online will be availed after which the order will be forwarded for production and then delivery.
The major setback in the taking off of the company's' activities is the fact that there are competitors in the industry who are so strong and have already established their brands in the market and as a result, have a prestigious name to the customers. It will be a huge challenge to be able to get in the market and imagine the company will pose any threat to the competitors.
Another setback for the company is the fact that the company would get challenges of finding the necessary capital outlay to put up a shoe producing company at the moment. This would mean that the company would be having additional operating costs as it would be trying to repay their funders for the capital. This would be in contrast with the developed companies who operate to make profits and not repay their loans.
Another weakness would be to come up with a marketing strategy that would be successful in reaching the targeted market. Again as our company is only an under amour, its focus would be narrower as there would be no benchmark to measure or put standards to be attained. There is also the challenge of adapting to the current technology which is costly to acquire and the newness of our brand name which would be E-foot.
Despite the above weakness that the company may be deemed to have, there are also some very promising strengths that the company has and intends to capitalize on them in order to be able to sail through the trying market. The company is focused on giving priority to the uniqueness it's bring to the industry where it will be giving the young men the opportunity to develop the own line of shoes brands. The company will aim at having strong brands which will make the company gain respect and recognition among customers. This will be enabled by the company collaborating with Adidas for manufacturing purposes.
The company will be able to enjoy the confidence that customers have on the shoes made by Adidas especially on durability. The company will also be looking forward to enjoy the large number of young people who previously had no company giving them the opportunity to develop their own design. The company will also be looking forward to see the employees working really hard in ensuring the fast growth of the company. The young men are known to have a dying longing for computer games. To be able to build on this aspect, the company will implement in its marketing strategies by having computer games which will promote the awareness of the company's unique products.
The company is looking forward into entering in an agreement with Adidas Company whose major role will be to produce the pending design orders. The choice of having Adidas as the collaborating company, is due to its ability to produce shoes with a higher level of comfortability which impresses our target market (appendix 2). Again Adidas will be looking forward into raising its sales in the coming years from the sales obtained in 2009 which were lower than those of its major competitors Nike(appendix 3).
The collaboration will help the company settle on the major challenge of finding the capital enough for production of shoes. This means that, the cost will be cut down as the company will only need to reach an agreement with Adidas on how to distribute the amounts received from the sales. Our company would be majoring on the online services only at the initial stages. Therefore the online advertising process would be the responsibility of the company.
This will involve coming up with new ways of reaching the target market through the use of the technologies they are mostly associated. To that extent our company will be able to reach the young men who are fond of the internet and the computer games. Through the uniqueness of our products, we expect the company to be able to establish itself with no time and consequently have a reputable name for it. So, the company will have to buy right to use the Adidas name in its products as it looks forward to becoming independent in the future. The adidas company will be doing all the production and transportation of the orders through its established ways of delivering to the customer.
The major competitors in this sector will be the Nike, Adidas and the Prey. There is a description of how their products are and how they carry out their dealings. Our company is looking forward on improving on every aspect that the competitors have left a loop. We believe our improvement on various aspects of the things covered by our competitors will help make us the customers' favorite as well as meet the unfulfilled customers' needs.
They are a company that has specialized in developing ladies shoes which come in different shapes, style, colors, material and so on.( appendix 4). Their major mode of promotion is having their products online from where the ladies can choose the kind of shoe they prefer from a long range of them. Their prices are also fixed and the customer is required to make a selection and payments online. The rest is carried out by company. They only sell ladies shoes and nothing more.
Nike has specialized in producing sports equipment, athletic shoes, apparels and accessories. Their slogan is, "just do it".( appendix 5). In their promotion strategies, they use the very renowned athletes who are used as brand ambassadors representing the different kind of shoes. Their major selling places is in their established multi-brand stores. The prices of their commodities takes the vertical integration. They have expanded their products to the different age groups.
They have majored in producing sport and related clothing which have a high technology and fashion. Their slogan says "nothing is impossible".( appendix 6). They target to increasing the number of customers as possible. They employ some more marketing segmentation in their strategies. They mostly sell from their flag shops and use the competitors price strategy in coming up with their prices.
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Our company has realized of the different needs by the buyers and that's why it has embarked on segmenting the market. This is to mean that we have analyzed the broad segments available in the market and have chosen to adapt a curtain segment more closely. This way our company will be able to market more efficiently by targeting its products and communication towards only one consumer who in our company will be the young men. The company will be able to market more effectively through the fine-tuning of the products needed by the young men. The company will be able to carry out market research and analysis since it will focus only on the young men. This way, the company may know when to regulate prices. Also the company is assured of facing fewer competitors who would be dealing in the same young men's shoes.
Our company will focus on meeting the needs of the young men who we can say that, their needs have not been addressed appropriately in the industry. Our major aim in narrowing down to the young men is to be able to meet their need and provide special solutions to them. This of course will be met when the company embarks on giving them that freedom to make shoe designs of their own liking. This group will prove to be very beneficial since they are the group who are very dynamic and would be very much pleased if they can be able given the opportunity to explore their styles of shoes by employing their own designs.
This group happens to form the majority of the population and with the current trends of fashion and design, the company would have capitalized on the fact that, they would come for the shoes which will be very unique. Again, these groups of customers happens to be the majority who are using the internet in large scale. This would translate to having a huge number of them being reached by the promotional news. It would also make marketing strategies easier as the relevant web domains would for obvious reason be the social website the youth like visiting. Through successful meeting the needs of the young men, the company would now be able to reach the secondary market target which is their families.
The company is targeting that through the young men satisfaction on the products available for them, it would be able to the secondary market targets who are the family members. The company is having plans that after having its name acquire a respectable name due to the unique products ,it would also gain the market of selling baby shoes. Most parents want their little ones to appear very beautiful and attractive. This would mean that, they would be very much willing to buy for their young ones shoes which are unique and fitting to the description of the parents.
The company would later take a step further in producing sport shoes for the young. Their types should follow the history of the company of developing unique products. The company would also be able to come up with a special brand of shoes which would be meant for the lovers only. Of course every young person will find themselves in some love relationship and so this would be another promising opportunity to let the lovers design their own style of shows. The lovers would get the opportunity to have their names put on the shoes of their choice. This area shouldn't take long before implementation after the first goal is realized. Our company would be meeting the needs of our customers at their point of need and satiety. After the success of the above projects, the next big catch would be the whole family where they would be able to come up with a family design that would identify the uniquely.
Our products will be solely as described by the customer. A customer would develop a design and that would make the product the company produces. The company expects to have the customer satisfied especially after having what the heart always longed for. The company will adapt a system of pricing its shoes depending on the materials chosen as well as the decorations involved. But one thing the company will be careful to handle is the prices of the shoes.
The strategy in place is of ensuring that, our shoes are low to middle priced. This way, the company would be sure not to chase away customers who will be new to the business. The prices are meant to meet the young men pocket levels by having the prices at affordable levels. This would mean that, the price would change with the level of need which is to be accomplished. The company would be selling its shoes online as well as at the Adidas flag shops.
The major promotion strategy for the company's shoes would be via the internet. The company will adapt the domain names of the young peoples favorite social cites and place a link or advertisement there which would lead to the company's website. A unique formula that will be used to promote the companies shoes is by having the young men entertain themselves with games that would be requiring them to develop their own design of shoes for them to use in the game.(appendix 7).
This will be very influential bearing in mind that, young men are every second boiling with new ideas. Another motivating factor of using the online promotions is the fact that, a huge group of the targeted young men will be reached. This method of advertising to the young people will provide a better way of knowing how many people have been reached by the message. The company will be able to to get the impression of the number of youths who have been reached and how many were able to visit the business web site from the various ads. The company will also benefit from the rising levels of shopping online recorded in 2009(appendix 8).
This way the company will be able to know of the number of conversion rates the company is getting from the placed ads. Since our company is still young, this kind os advertising will be relatively cheap for us. The company will also have the opportunity to sell its shoes throughout the globe as internet usage spans the whole universe. At the flagshops, the company will come up with coupons which will be used to give to customer who would take them to their family members and friends. This way the company would have reached its target markets by employing these promotion strategies.