Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Customized Shoe Service
The project is represented by developing a customized shoe service for Adidas' customers. The idea is replicated after Nike's ID service. The success of Nike's customized shoe service determines Adidas product development researchers to develop such a project that their customers can enjoy. Basically, the service consists in personalizing customers' shoes with glow in the dark paint in a variety of prints.
The importance of the project relies on the service generating increased sales for Adidas. This is also intended to increase customer satisfaction. It is likely that most customers that will address customized shoes already are customers of Adidas. However, a certain number of new customers can be attracted. The customized shoes project is also intended to help Adidas differentiate itself from other spot shoes producers.
Involvement by Other Departments
The development of a customized shoe service is a complex project that requires the collaboration of several departments, like, the production, financial, marketing, sales, and product research and development departments. The financial department must establish whether the investment in developing the customized shoe line can provide satisfactory returns. In addition to this, the financial department must determine whether the company has the resources that are required by this investment.
The product research and development department develops the project. This department comes with the idea, but also with the scheduled plan necessary for reaching this objective. The production department must determine the necessary raw materials required for developing customized shoes, but also to plan the production process in order to satisfy demand for other products of Adidas.
The marketing department must develop market research studies in order to determine the demand for customized shoes, but also to develop a marketing strategy that refers to identifying the benefits of the product and communicating them to the targeted customer segments. The sales department must develop the sales strategy required in order to reach the established objectives regarding sales volume.
Estimated Project Duration
It is likely that the project duration is five months from the idea presentation of the product research and development department...
The complexity of the project and size of Adidas' business require this duration. The duration of the project must be adapted in accordance with different environmental factors that influence it.
Assumptions and Uncertainties
Based on Nike's success with the Id shoe service, Adidas can make the assumption that it can also benefit from the success of developing a customized shoe service. However, Adidas is not certain whether the market for such products can be increased in order to absorb its products. It is not likely that Nike customers will purchase Adidas products because of their loyalty towards the company.
Objective
The objectives of the project refer to cost, schedule, and performance. The cost of the project must not exceed the established investment with more than 10%. The investment in developing a customized shoe service must break even in the first year after the service is provided to customers.
The schedule of the project is the following: proposal from the product research and development department -- 2 weeks, presentation to top management -- 1 day, approval by top management -- 2 weeks, strategy development by the departments involved -- 1 week, production -- 2 months, promotional activities -- 1 month, introduction on the market.
The performance indicators that must be reached by the project are represented by: increasing the number of customers by 5%, increasing the sales volume by 5%, increasing customer satisfaction and loyalty.
Project Benefits for the Company
The project is developed in the attempt to follow the strategy developed by Adidas' competitor, Nike (Nike, 2013). Developing the customized shoes service is likely to determine several benefits for Adidas, like expanding the range of products, which means the company will satisfy an increased number of needs and preferences from customers, increasing customer satisfaction, which determines customer loyalty and helps improve the company's position on the market. In addition to this, the company's profits are likely to increase, but not by much.
This customized shoe service is addressed to younger customer segments, By increasing their satisfaction and loyalty, Adidas builds the solid customer base for the future, when these customers…
This is one of the reasons for which companies do not present their entire range of products in a TV commercial in the fast moving consumer goods industry. They prefer to only advertise the most important product of the range, or several products in different commercials. Therefore, by providing a customized shoe services that provides a large number of choices that must be made by customers, Adidas might not make the best decision regarding its business. Some of its customers might orient towards smaller brands that provide a smaller number of different shoes, which reduces the pressure associated top making a decision regarding the purchase in case. It is important that the company develops a thorough analysis on the implications and requirements, and consequences that developing a customized shoe service is likely to have on its business expansion strategy, and also on its profits.
Reference list:
1. Customize the latest from NikeiD (2013). Nike. Retrieved September 15, 2013 from http://www.nike.com/us/en_us/c/nikeid?sitesrc=id_redir.
Shoe Project -- Phase II Project/Service Description As noted in the first phase of this series of reports, the objective of the Adidas customized shoe project is to offer a solution that brings Adidas into the same realm as its competitors while at the same time exceeding the similar offerings that the competitors offer. The Nike ID offering is obviously not unlike that of the Adidas offering but the Adidas Corporation will
Adidas Business Plan The following pages present an in depth business plan on Adidas developing a customized footwear line. This is the updated version of the preliminary plan submitted previously. This project plan describes in detail the necessity of Adidas developing a customized shoe line in accordance with the strategy behind NikeID. The project objectives, scope and deliverables have been updated in order to satisfy the changing needs that Adidas must
STUARATA INC. DESCRIPTION The project proposed is one creating a start-up company to make the product available for installation at customer sites in ten months from the start date. The production operation is planned for being in place at the same time so that fifty units per week and one control station per week are produced. This project is a $12 million dollar project involving the design and development of autonomous
Marketing Research on Athletic Shoe- Industry The brand caters a promise of reliability, in effect that one stand behind their product. Branding is not an action we can realize overnight. A successful brand is built over time from the hundreds of little things we do right. . The brand is, at its core, an declaration of a standard performance. It guarantees that the product or service carrying that brand will live
Business Plan for a New Business Business Plan Business Name: "Foot Junkiez" Business Type: Sell customized footwear on eBay which people can put any name or image on them. Business description Financial Goals Nonfinancial goals Market strategies External environment analysis: PASTEL Political Economic Social Technological Environmental Legal Marketing Mix Product strategy Distribution Strategy Promotional Strategy. Pricing Strategy Competitive analysis Foot Junkiez is a customized online footwear store. The area urgently needs an upscale customized shoe shop because the current shops have insufficient selections. Currently, customers that need custom-made footwear must travel
For any strategic planning activity to be effective there must be the ability to quickly define process-level changes to increase competitive advantage. Mintzberg's critique of the strategic planning process is illustrated in the shortcomings of the Ashoff Matrix in this regard. Lack of strategic prioritization of projects within the context of the Ansoff Matrix - the Ansoff Matrix does not provide for strategic criteria to be applied to specific projects.