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ACHIEVE. By: Saraya Hyder Adebola Aderinto Joseph Ahn Arif Billah Esesuwa Iruobe. Our Mission:. To provide a comfortable and affordable shoe that any athlete can Achieve their highest potential. . Target Audience:. Anyone that is looking to exercise Ages 15 and up
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ACHIEVE By: SarayaHyder AdebolaAderinto Joseph Ahn ArifBillah EsesuwaIruobe
Our Mission: To provide a comfortable and affordable shoe that any athlete can Achieve their highest potential.
Target Audience: • Anyone that is looking to exercise • Ages 15 and up • Comfortable price range for a high quality shoe
Objective: • Emphasize the comfort and affordability of Achieve shoes, thus creating brand loyalty. • Increase profits • Increase market share of our home, domestic and international markets.
Goals: • Identify current issues with the product and marketing techniques. • Find solutions to correct current issues. • Be proactive rather than reactive. • Obtain feedback from customers on effective marketing methods • Conduct research to help Achieve succeed
Goals: • Push towards selling a higher version of the original product. • Finished as one of 3 teams selling Version 5 of the shoe • Build brand loyalty by emphasizing comfort and affordability • Decreased the selling price of the product to make it more affordable for customers and to attract new customers. • Create and maintain customer relationships • Finished with the best Customer Satisfaction
Goals: • Increase market share in home, domestic, and international market • Total Market Share – 17.41% • Home – 20.69% • Domestic – 14.32% • Foreign – 19.77% • Decrease costs and increase sales • Increased our cumulative profit to $ 74,308,286 Highest • Expand successfully into home, domestic and international market • Decided to invest primarily in advertising followed by consumer promotions and then dealer promotions.
Goals: • Beat out our competitors • Cumulative Profit – 1 • Customer Satisfaction - 1 • Profit this period – 2 • Unit Sales this period – 2 • $ Sales this period - 3
Price • Set to fit the target audience • Affordable price = Higher Demand • Constantly tried to remain just below our competitors with our prices.
Place • The brand name is also one that many consumers trust because it provides good value. • Succeeded in all three markets • By using promotion and price, we were able to establish a place in all the markets as well as a place in where we stood with our competitors.
Promotion • Targeted both consumers and dealers • Equally promoted to both in every market and every month. • Quite effective as profits have been on the increase and cost declining.
Product • Created to satisfy the consumers’ needs • Affordable for the target audience • Offers good value for its quality and price • Able to serve several purposes • Greatly invested in product development every decision. • Major goal: develop one of the best products but to sale it at one of the cheaper prices.
Main objective = high demand for the product build a customer base • Achieve this by lowering the price of the product at about period 6 • Overall objective was to come out on top and exceed the performance of other competitors. • Beginning periods our performance was mediocre • Sales and growth began to pick up, putting the company at the #1 position for overall profits • The home market’s decisions were a prototype of what to do for the subsequent markets.
Average price – based off of the few times we invested in Market Research as well as how the market was growing or declining. • Average $ spent on Sales Promotions –started them off at $1,000,000 and accordingly lowered them when the market declined. • Average $ spent on advertising – We started them off at $2,000,000 and accordingly lowered them as well. • Average sales team size – Depending how strong the market was, we had sales team from 7-10 people.
Over time, we were also able to make decisions to lower costs after establishing a customer base in all markets. • For example, at period 6, we began to reduce our expenditures on product development. • Also began to lower costs in the home market by lowering advertising, consumer and dealer promotions which led to lowering in the other markets.
Did not place great emphasis • In the beginning periods, we only purchased research for the price of the product. • When entering the foreign market we purchased research for every aspect of the market. • New to the market, so it seemed to be a good idea to see where everyone else stood. • Went with how we felt Achieve would best succeed with little influence from our competitors except on pricing • How our competitors made decisions did not impact us
Projections • Continue to advance our version of Achieve • Continue the trend to lower cost of goods as sales increase. We would like to lower the cost of goods from $14.33 to $13 or less. • Find equilibrium between our expenses and revenue where we don’t have to change our decisions in a steady market but only in a changing one. • To remain on top of our competitors and continue to grow.