StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Innovative Product in Extreme Footcare - Speech or Presentation Example

Cite this document
Summary
One shares the same conviction in your founding philosophy that “A great feeling body starts with comfortable and healthy feet” (Crispell 1). The need to…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.5% of users find it useful
Innovative Product in Extreme Footcare
Read Text Preview

Extract of sample "Innovative Product in Extreme Footcare"

The paper "Innovative Product in Extreme Footcare" is a brilliant example of a speech or presentation on marketing. I had been an avid admirer of the company you created, FootSmart, in your commitment and quest for comfort in shoes. One shares the same conviction in your founding philosophy that “A great feeling body starts with comfortable and healthy feet” [Cri11]. The need to discover an innovative product in Extreme Footcare came from a family member’s need for comfortable and personalized shoes as diabetes afflicted his lower limbs.

It is the same impetus that one’s pursuit initiated this proposal to offer the Extreme Footcare to your specialty store. I hereby proffer pertinent details of the proposed product for your perusal. Background and Purpose The new product, Extreme Footcare, has been innovatively designed to address the footwear needs of a special and distinct group of clients requiring intricate care in terms of shoes. Extreme Footcare represents custom-tailored shoes for those who are physically disabled (especially for diabetic patients, those who were recently amputated with one leg, and those under podiatric treatments) for all age ranges.

The objective of the company is to gain a steady but increasing percentage in the market share for specialty shoes, particularly for clients with foot problems. By distributing the product through your store, known as a pain relief shoe store, a wider range of clientele could avail of the product, as projected to be extremely beneficial to their podiatric needs. Proposed Plan One hereby proposed that an initial 1000 pairs of Extreme Footcare shoes in different styles and sized be distributed through FootSmart starting next month, November.

As a retail merchandiser known to market specialty shoes, a proposed space for Extreme Footcare would likewise contain brochures, additional promotional items, and point-of-sale advertisements, to enable enhance customer awareness and determine if other types of shoes needed to be customized for other requirements, aside from those that are on display. The selling point would be: “foot care for your special feet’s unique needs”. The price of the shoes would be slightly higher than conventional shoes due to the custom made provision and the materials to be used to cater to the needs of the patients.

One proposes that your store would mark-up as much as 15% – 20% of my price. Survey The market survey on the statistics facing the shoe industry reveals that “of the 1.97 billion pair of shoes and other footwear sold in the U.S. in 2003, $22.6 million in products were from specialty stores” [The11]. Following this trend, of the $9 billion shoes distributed by independent retailers in 2008, $103 comes from specialty shoes, making it a lucrative and potentially financially rewarding business.

As we both have acknowledged a valid and specific target market, it is one’s personal contention that the needs of the target market primarily determine the nature of the marketing mix components and strategies to be applied. As emphasized by McCarthy, “the problem, in brief, is to satisfy our target customers with the right product, available in the right place, promoted in the right way, and available at the right price” (McCarthy, 1975, 86). Budget With an initial budget of $500,000 to be utilized for the marketing mix elements, an initial volume of 10,000 pairs is projected to be sold in the first three months of operations.

The prices of the products depending on the materials, style, sizes and customer’s specifications need to be reviewed and adjusted in terms of competitors’ prices and response. A market share of 10% is initially targeted within the first year of operation. For your specialty store, of the 10,000 projected to be sold, 1000 pairs are proposed to be allocated to two of your stores, the FootSmart store in Memphis, and the Benchmark Store in Norcross. Assuming an average price of $100 per pair, an average mark up of $20 would give you $20,000 per month for 1000 pairs sold.

Authorization After reviewing the details of the product proposal, I am hereby respectfully seeking your authorization to approve the distribution of a batch of 1000 Extreme Footwear shoes each to two of your retail outlet: FootSmart in Memphis and Benchmark Store in Norcross to start marketing the product. I would be forwarding a sales contract that would forge our agreement, should the contents of this product proposal be amenable to you. I am hereby looking forward to hearing from you very soon.

Should you have further queries on the product proposal, I could be reached in any of the following numbers: or through my email address.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Innovative Product in Extreme Footcare Speech or Presentation, n.d.)
Innovative Product in Extreme Footcare Speech or Presentation. https://studentshare.org/marketing/1757498-letter-proposal-of-business-product
(Innovative Product in Extreme Footcare Speech or Presentation)
Innovative Product in Extreme Footcare Speech or Presentation. https://studentshare.org/marketing/1757498-letter-proposal-of-business-product.
“Innovative Product in Extreme Footcare Speech or Presentation”. https://studentshare.org/marketing/1757498-letter-proposal-of-business-product.
  • Cited: 0 times

CHECK THESE SAMPLES OF Innovative Product in Extreme Footcare

Revolutionary Footwear Product

REVOLUTIONARY FOOTWEAR product REVOLUTIONARY FOOTWEAR product (Your name) (Your institution) (Your (Your course) (Year) Introduction Innovation is the backbone of the footwear market and as such modern designs that are made using the highest levels of creativity have the potential of taking the footwear products to a whole new level therefore giving footwear customers an experience that is second to none.... hellip; This is the main motivation behind the creation of a new revolutionary footwear product and this report is aimed at presenting the idea behind the new footwear product....
8 Pages (2000 words) Assignment

Innovation and Change

In the end, the smaller organizations end up out of the market owing to failed innovative strategies.... Name: University Course: Instructor: Date: Innovation and Change Innovation has suddenly become a common preoccupation for all organizations in the present competitive global environment....
3 Pages (750 words) Essay

Six Sigma and innovation: can they coexist at the same manufacturer

These programs should complement each other for the efficient functioning of an organization.... However, many people do believe that the Six Sigma program and innovation are situated at… This is because of the belief that Six Sigma drives the organization in one direction while innovation drives it in the opposite direction....
5 Pages (1250 words) Essay

The Innovative Entrepreneur

This aspect might Innovations by the Entrepreneurs al Affiliation: Innovations by the Entrepreneurs During product development one common innovation is disruptive innovation.... I admired the product because it changed how people listen and buy music (Kahney, 2011).... This was innovative because it was able to create a product that fits human health through reducing the level of calories.... Starbuck recent market development strategy of “Skinny Lattes” and low fat/calorie syrup was innovative....
1 Pages (250 words) Coursework

Innovative Idea for a New Product, namely the Round Umbrellas

nbsp; For this reason, I chose to come up with a new product on umbrellas that are consumer friendly both in price and in its use.... Some innovative people came up with storm proof umbrellas and others windproof umbrellas.... The reporter states that the majority of people for many years have been using the round umbrellas all over the world....
6 Pages (1500 words) Essay

Extreme sports

It is not only irresponsible and absurd for organizers and sponsors to invite individuals to participate in extreme activities without incorporating the interest of the participants in terms of health and safety.... Hatfield (2011) explains that the innate characteristics in some individuals dictate that they have to be turned on by such extreme activities since they have a lot of… Amazingly, when these individuals conquer in one of the extreme activities, they develop the desire to even conquer more extreme ones beyond the ones already conquered....
2 Pages (500 words) Essay

Business Model: Ecopreneurship

The paper “Business Model: Ecopreneurship” will look at a person or entity which provides environmentally friendly services, goods, and technology such as recycling, green construction, or organic food.... The term ecopreneur became quite popular in recent times.... hellip; The author of the essay explains that an ecopreneur is a business person or entity concerned about the whole humanity and the world we live in, and whose primary motive is not only to make profits but to serve the humanity and to ensure that the world's resources are available for the new generations....
7 Pages (1750 words) Assignment

Innovative Products: LGs Flexible Display and Vivitouch

… The first product that will be analyzed is the projected of LG's flexible display.... In seeking to categorize this recent innovation, it can be understood not as an entirely new-to-the-world product but rather a development and addition to existing product lines that LG has experience in producing (Schreier et al.... The ultimate challenge towards bringing this product to the market and allowing it to be represented in existing and future technology is of course bringing down the cost of production....
2 Pages (500 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us