Essay on New Shoes Annual Report Group Project

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Words: 1415
Pages: 6

Achieve - 1
Saraya Hyder
Adebola Aderinto
Arif Billah
New Shoes Annual Report Group Presentation
Achieve
Annual Report Content:
1-Mission Statement - Debbie
Achieve your dreams, Achieve your goals, Do it all with Achieve – A shoe made just for you!
To provide a comfortable and affordable shoe that any athlete can Achieve their highest potential.
2-Target audience -Debbie
The target audience for Achieve is an athletic person and anyone that is looking to exercise. The shoe is designed for consumers ages 15 and up. It is in the price range which the targeted audience will feel comfortable paying for yet still can all the benefits of a highly priced shoe.
The product is a performance shoe used to satisfy the need of an everyday athlete whether it is running, hiking or just for casual use, the Achieve shoe does it all.
3-Objectives & Goals - Arif
Objectives
The objective is emphasize the comfort and affordability of Achieve shoes, thus creating brand loyalty. It is to increase profits by 20% over five periods and increase market share of our home, domestic and international markets.
Goals
New Shoes Marketing Team has the following top-priority goals:

Identify current issues with the product and marketing techniques.

Find solutions to correct current issues.

Streamline operations and decision making to become proactive rather than reactive.

Decrease the cost of goods to increase profit. o Reduced cost of goods to $14.33 from the starting point of $30.75

Obtain feedback from customers on effective marketing methods to eliminate those that are not as effective.

Conduct research to weigh the opportunity costs of expanding into foreign markets as well as where we stand with competitors

Push towards selling a higher version of the original product. o Are one of 3 teams selling Version 5 of the shoe

Build brand loyalty by emphasizing comfort and affordability o Decreased the selling price of the product to make it more affordable for customers and to attract new customers. o Maintained a good customer service relationship by having an affordable product

Create and maintain customer relationships o Customer Satisfaction - 1

Increase market share in home, domestic, and international market

Achieve - 2





o Total Market Share – 17.41%
 Home – 20.69%
 Domestic – 14.32%
 Foreign – 19.77%
Decrease costs and increase sales o Increased our cumulative profit to $ 74,308,286
Expand successfully into home, domestic and international market o Decided to invest primarily in advertising followed by consumer promotions and then dealer promotions.
Beat out our competitors o Cumulative Profit – 1
 Customer Satisfaction - 1
 Profit this period – 2
 Unit Sales this period – 2
 $ Sales this period - 3

5-Marketing Mix (4Ps) -Debbie
Price: The price of the shoe was set to fit the target audience. The purpose of this was to create a high demand for the good because of the affordable price. It played a huge role in how we did in our sales and constantly tried to remain just below our competitors with our prices.
Place: The Achieve shoe occupies a unique place in the market. The brand name is also one that many consumers trust because it provides good value. Achieve 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: Through our promotions, we targeted both consumers and dealers. Therefore the simulation, Achieve equally promoted to both in every market and every month. Since the product is relatively new to the market, Achieve sought to reduce its reliance on the “middle man” and keeping costs to a minimum by going to the customer directly. This has been quite effective as profits have been on the increase.
Product: The product is created to satisfy the consumers’ needs. It does so by fulfilling three main aspects. First, it is affordable for the audience for which it is targeted. Second, it…