"shoes for moos". Anti Essays. 19 Dec. 2015
Shoes For Moos - part#1 - YouTube
Jim Wells, the creator of Shoes for Moos, a specially designed type of footwear for cows to aid the cure of foot and hoof infections. With little capital and experience in the industry, Jim must decide whether to proceed and invest in this new venture. He must analyze the competitors; determine his selling price, and potential target market. With all of these factors established, Wells must decide how to promote his new product and choose a strategic distribution plan.
Shoes For Moos Free Essays - Paper Camp
Jim Wells’ product Shoes for Moos provides support during the healing stage of an infected cow’s foot also acting as a deterrent from initial infection; a feature unique among the competition. Jim has little knowledge of the cattle industry regarding bovine footwear, but he does have the appropriate resources to ensure his product is attractive and of value to consumers. With the help of Murrel Bauman, a local veterinarian, and Kaufman footwear, they were able to create a high quality and durable shoe ideal for cow’s hooves. The rubber exterior helps...
After conducting an in-depth situational analysis and finding the target market and its size along with alternatives to pricing, product, channel, and promotion of Shoes for MOOs, Mr. Wells needs to find the best channel to market his product. With having such a low budget of $25,000 and being a start-up company, Mr. Wells needs to be very efficient with his money and his time since he is currently running another business. An additional challenge is the pairing of promotions that are best for each channel.Some of the factors that have a large effect on the decision are the two competitors in the current market, how distribution and promotion will be taken care of, and finally what the pricing strategy will be effective based on the previous factors. One competitor is a cheap, fairly ineffective, shoe priced at 21.80 available through direct mail catalogs; also there is a strictly clinical use $400 hydrotherapy shoe. The first distribution option is direct mail, which has a positive of establishing one on one customer relationships, gives Jim full control, and is fairly cheap ($2.67 per shoe for all materials and postage). For this option, promotion would likely be mainly based on trade shows and magazine ads. The other distribution channel is direct sales to dealers in the Area, which are approximately 500. With this strategy, Shoes for MOOs would gain wide exposure quickly, but with dealers requiring a 40% margin on sales it would drastically raise the price, which Jim though would have to be between $40 and $80.