MARKETING MANAGEMENT - 2

STAGE - 3

Group – 6

Submitted to:
Dr. M.R. SURESH

Submitted by:

18019 - PRAMUKH MEDA

18020 - RAKSHITH V
18030 - VIPUL HALATHI
18047 - THEJAS URS
18049 - VIGNESH R
18050 - YASHANK UTTHAPPA
18054 - MEGHA

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Contents
Chapter -1..............................................................................................................................................3
Brain Storming:..................................................................................................................................3
Screening Ideas:.................................................................................................................................3
Full Screen.........................................................................................................................................4
Scoring...............................................................................................................................................5
Summary of PIC of the Single Shoe Multi Sport.................................................................................5
CHAPTER - 2...........................................................................................................................................7
End user experience..........................................................................................................................7
Design Chunks...................................................................................................................................7
Product Concept................................................................................................................................8
FTB Analysis.......................................................................................................................................8
House of Quality Chart......................................................................................................................9
Chapter – 3..........................................................................................................................................10
Questionnaire..................................................................................................................................10
Data Analysis and findings of the survey.........................................................................................11
Chapter - 4...........................................................................................................................................16
Formulation of product and brand strategy....................................................................................16
4 Ps of marketing.............................................................................................................................20
CHAPTER – 5........................................................................................................................................28
Learning from the case……………………………………………………………………………………………………..…………28

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Chapter -1
Brain Storming:
The agenda of the brainstorming session was to generate ideas from the team members about
the new product to be developed without criticizing any of their Ideas. The following were
the Ideas that were generated during the brainstorm session.
IDEA 1 : COLLAPSIBLE WATERBOTTLE
The focus of this product is on athletes and fitness enthusiasts. This product can also be used by
school going kids, daily commuters and by anyone who require a light weight and portable water
bottle.
IDEA 2 : SHELFPACK THE SMART CARRY ON SUITCASE
This is a suitcase that comes with built in shelves that can double as portable drawer unit. Where a
sportsman can put his different items like clothes, shoes, Medicines and other required accessories in
different integrated shelves in a same suitcase.

IDEA 3: SMART-BIT
This product is designed keeping in view with regards to athletes and fitness enthusiasts as it is
important for every individual or an athlete to stay fit in order to enjoy sports and sometimes many
individuals just hire gym instructors for maintaining a healthy body so as to be at top of their games.

IDEA 4: SINGLE SHOE MULTI SPORT

A sports shoe whose sole can be changed according to the sport would be a better option for
the economy class. The different soles will be available along with the shoe. The shoe comes
with a default running sole, whereas the cost of the additional sole varies with the type of
sole. Purchasing a sole would be considerably economical compared to the cost of purchasing
a pair of new shoes.
IDEA 5: MATTRESS IN TRAVEL BAG
Compact air mattress in travel bag. Good solution during the long trip, waiting in airport, etc. Just pull
a zipper and take of mattress from extra pocket. Use bag handle which is also a pump.
IDEA 6: ACTIVITY TRACKER
This is a gadget or application for observing and following wellness related measurements, for
example, distance jogged, calorie utilization as per the weight of the person and sometimes heartbeat,
quantity of water needed to be consumed by the person for the amount of workout done in a day and
sleep required.

Screening Ideas:
The agenda of the screening was to select top two ideas amongst the ideas generated. For
which, a voting was conducted to nominate the best ideas out of the lot, where the individual
cannot vote his/her own idea.
Later, out of the two Ideas that were selected which were COLLAPSIBLE WATERBOTTLE
and SINGLE SHOE MULTI SPORT.

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These two product ideas were later screened using the concept of Curve B which has a faster
killing rate. We also screened the Ideas based on the following questions that were developed
by the consensus of the group members in accordance with the company’s vision and
mission.
Does it fit with people's needs? Is there demand?
Does it really meet the goals set initially?
Does it meet the requirements in our problem statement/Point Of View?
Does it answer our “How Might We” questions in a satisfying way?
Is it different enough from what exists to add additional value?
Do we have access to the budget—enough to implement even partially?
Is the technology available?
Will we be able to roll it out with the available resources?
Can we get approval from decision makers?
So, after evaluating the selected top two ideas with all these questions, the group came to a
consensus that we would go away with the product idea on ‘SINGLE SHOE MULTI
SPORT’.
Full Screen
This was the process done to select the best Idea and eliminate the other Ideas. Here we
conducted a voting system to choose the best product to our company for developing the
product. Other Ideas are eliminated so that one can go with best Idea after this Screening
process.
Voting for best product idea was done. There are 7 members with 6 ideas.

Rule : Each member can agree upon 3 ideas of different product.

Ideas of different products Agreed

1. Single Shoe Multi Sport 6
2.Collapsible Waterbottle 4
3.Shelfpack the Smart carry on Suitcase 3
4.Smart -Bit 3
5.Acitivity Tracker 2
6.Mattress in Travel Bag 3
Total(7 members x 3 votes) 21

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Every member in the group agreed with the Idea of ‘Single shoe multi sport’ and also since it
is the highest voted product , we have taken it for further development with this product.

Scoring
After screening was done by voting for the best product, We have applied a scoring model
to decide upon the final idea which is to be converted into a product and considering its
technical and commercial aspects with respect to the company.
Single Shoe Multi Sport
Factor Score Weight Weighted Score
(1-5) 100%
Technical Accomplishments
Design superiority assurance 5 35% 1.75
Rate of technological change 4 20% 0.8
Research Skills Required 5 20% 1
Technical task difficulty 4 10% 0.4
Manufacturing requirements 4 15% 0.6
total 100% 4.55
Commercial Accomplishment
Benefits to users 5 30% 1.5
Promotion Requirements 4 12% 0.48
Probable market share 3 15% 0.45
Logistics 4 15% 0.6
Competition 4 10% 0.4
Profitability from product 4 18% 0.72
total 100% 4.15
Here after computing the Technical and Commercial Accomplishment with various aspects,
our product got good rating in both Technical and Commercial accomplishment which is
more than 4 out of 5 which is almost above 80 %. Though the Market Share is lesser because
it is new product from company, so it takes a little bit time and company should focus little
more on this.
This is good sign for company as the product got positive result and it can go further for
development.

Summary of PIC of the Single Shoe Multi Sport

Trend nowadays is being jack of all trades. So, most of the individuals plays a minimum of
more than two sports. Running and one sport at the least. And they either purchase different
kind of shoes for each sport or they tend to use the same shoe for all the sports they indulge
in. Usually a shoe differs from one another according to the sport mainly on the type of sole,
and sometimes on the ankle of the shoe.

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The company plans for ‘one shoe, multiple sport’ where the user will have an option to
change the sole of the shoe according to the sport.
Focus: The focus is to target the economy segment.
Market Dimension: The data shows that the market for sports shoes have been rising steadily.
People tend to buy different shoe for each sport as the sport requirements are different. But
the economy class does not like spending on more than a shoe as they consider it a luxury.
With the perceptual mapping analysis that was done, we found that the sport shoes available
are either low cost, low quality or high cost high quality. And no shoes were found in the
market that aimed at multipurpose sport shoe which had the option of changing soles
according the sport being played. Thus, the market seems to have a gap that could be
capitalized on to the company’s benefit.
So, a sports shoe whose sole can be changed according to the sport would be a better option
for the economy class. The different soles will be available along with the shoe. The shoe
comes with a default running sole, whereas the cost of the additional sole varies with the type
of sole. Purchasing a sole would be considerably economical compared to the cost of
purchasing a pair of new shoes.
Technology Dimension: The shoes will have two parts precisely. The body of the shoe and
the detachable sole. The shoe has a running sole by default. The sole detachment and
attachment are done by a simple innovative fasting that will endure all possible shocks during
a sport.
Goal/Objective:
To capitalize on the gap identified in the market and to increase the market share to in the
targeted segment. Eventually to be the market leader in this product category.
Guidelines:
The product would be aimed at the economy class. The cost of the shoes would be slightly
higher than the regular sports shoes for the economy segment, whereas the cost of the
different soles would depend on the type of sole which will positively be less than half the
cost of a new pair of shoes. The durability of the shoes would be a minimum of 3 years
considering the normal usage. The company would invest on different marketing campaigns
that would focus on ways to reach the wide range of consumers of the economy segment. The
existing distribution channels will be used for the movement of the products (Selective retail
stores, Malls, Online partners), addition to which an innovative van campaign will be
launched in the educational institutions and community societies in selected tier 2 cities. The
company will sponsor good amount of sports for the student community.

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CHAPTER - 2
End user experience
As the product cannot be physically produced in front of the customer, we showed the
respondents a computer-generated image.
After Interviewing and collecting data from the survey of 30 respondents, the observations
found were:
The multi-purpose shoe would be a good product to be introduced in the market.
The multi-purpose shoe can be purchased instead many speciality shoes for various sports.
Most respondents were willing to buy this new shoe if it was launched/available in the
market.
Some of the potential problems that were identified by the respondents were:
The detachable sole may fall off or break off due to continuous use.
The shoe may not be comfortable due to the detachable mechanism of the shoe.
Whether the shoe can be used or worn without attaching the sole.
The cushion experience may changes with lower part and without lower part.
It might come off during playing.
Soles may get loose after several replacement.
When we collected information, we came to know that they were expecting this product in
between Rs.2000 and Rs.3000.
The soul to be available in all the cities for replacement.

Design Chunks
The shoes come in the standard white and black colour (Body of the shoe). The detachable
soles come in Green, red, white, blue and black colours.

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Product Concept
The product of our company can be classified as a consumer product. People can use our
product for all the sports. Customers can buy our all in one shoe to explore their interests in
various field of sports, comfortable shoes for different sport .Our company has come up with
new product (Changeover shoes) to include shoes to serve all kinds sports instead of
focusing on one particular sport ,this unique sneaker comes with variety of soles which can
be fitted perfectly for any kind of sport and enjoy a match.

FTB Analysis
Form
It is quite taxing for people to buy different types of sneakers just to enjoy that sport properly
so our company has come with new type of sneaker keeping with the principle ‘one shoe,
multiple sport’ where the sneaker comes with detachable sneakers to be fixed while playing
the particular sport.
Technology
This new product is designed keeping in mind with regard to sports enthusiasts freely who
can enjoy any particular sport fully, the shoes will have two parts precisely. The body of the
shoe and the detachable sole. The shoe has a running sole by default. The sole detachment
and attachment are done by a simple innovative fasting that will endure all possible shocks
during a sport.
Benefit
 This new pair of shoes can help customers to carry one shoe for all sport.
 This product also provides a great deal of customization to sports enthusiasts.

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House of Quality Chart

Based on the resultant HOQ for Single Shoe Multi Sport, it can be observed that aesthetics
characteristic of the seat design plays the highest importance in comparison to other
requirements. As for the technical design parameters of the Single shoe multi-sport that will
have influential effects in satisfying the requirements, they can be shortlisted as the Strength,
Easy to use and safety.

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Chapter – 3
Questionnaire
1) Which Category below includes your age?
Age Select the option
17 or younger
18 – 20
21 - 29
30 - 39
0740 - 49
50 - 59
60 and above

2) How frequently do you exercise/fitness?

Everyday Regularly (5 – 7 Frequently(2 - 4 Non regularly Rarely
days a week) days a week) (0 – 2 days a (Once a week or
week) once in 2
weeks)

3) How do you prefer buying shoes?

Online Offline Both

4) How many sports shoes do you own?

0 1 2 3 or more

5) How frequently do you purchase a sport shoe?

Twice a year Once in a year Once in two years Once in three
years/more

6) On what basis(factors) do you purchase sports shoes?

Colour
Design
Quality
Speciality(track, football, cricket)
Price
Brand
Other Factors –

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7) Do you prefer any Brand?
Nike Adidas Puma Reebok Any other

8) What is the preferred price range for purchasing sport shoes?

Less than 1000 1000 - 2000 2000 - 3000 3000 - 4000 Above 4000

9) How many sports/activities do you play?

0 1 2 3 More than 3

Data Analysis and findings of the survey

1) Which Category below includes your age and gender?

Age
60
40
- and
49 abo
ve
10 7%
30%
-
39
17
% 21
-
29
66
%
17 or younger 18 – 20 21 - 29 30 - 39
40 - 49 50 - 59 60 and above

66% belonged to the age group of 21-29.

17% belonged to the age group 30-39.
10% belonged to the age group 40-49.
7% belonged to the age group of 60 and above.

2) How frequently do you exercise/fitness?

17% of them exercise Every day.
16% of them exercise Regularly (5 – 7 days a week).
37% of them exercise Frequently(2 - 4 days a week).
17% of them exercise Non regularly(0 – 2 days a week).
13% of them exercise Rarely (Once a week or once in 2 weeks).

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 Frequency of exercise
Frequently;
37%

Non regularly;
Everyday; 17% Regularly ; 16% 17%
Rarely; 13%

Everyday Regularly Frequently Non regularly Rarely

3) How do you prefer buying shoes?

60% of them buy from online and offline.
20% of them only through online.
20% of them only through offline.

Mode of Buying

Online
20%

Both Offline
60% 20%

Online Offline Both

4) How many sports shoes do you own?

Number of shoes owned

3 or
mo
re
20 0 1
% 3% 27
%

2
50
%

0 1 2 3 or more

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3% of them own 0 shoes.
27% of them own 1 shoe.
50% of them own 2 shoes.
20% of them own 3 or more shoes.

5) How frequently do you purchase a sport shoe?

On
ce
in
thr
ee
Purchase
yea Frequency
Twi
rs/ ce a
mo yea
re r
17 17
% %
Onc
e in
a
yea
Onc r
e in 26
two %
yea
rs
40
Twice a year Once in a year % Once in two years Once in three years/more

17% of them buy Twice a year

26% of them buy Once in a year
40% of them buy Once in two years
17% of them buy Once in three years/more
6) On what basis(factors) do you purchase sports shoes?

Factors for purchase

90% Quality; 83%
80%
70%
60% Price; 53%
50%
Brand; 40%
40% Design; 33%
30% Speciality; 26%
Colour; 20%
20%
10%
0%
Quality Price Design Brand Colour Speciality

83% of the respondents purchased based on Quality.

53% of the respondents purchased based on Price.
33% of the respondents purchased based on Design.
40% of the respondents purchased based on Brand.
20% of the respondents purchased based on Colour.
26% of the respondents purchased based on Speciality.

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7) Do you prefer any Brand?

Brand Prefernces
Oth
er
Bra
Ree nds
bok 10%
17% Nik
e
40%

Pu
ma Adi
20% das
13%

Nike Adidas Puma Reebok Other Brands

40% of them purchased Nike

13% of them purchased Adidas
20% of them purchased Puma
17% of them purchased Reebok
10% of them purchased other brands

8) What is the preferred price range for purchasing sport shoes?

bet
Percentage
Less wee
Abotha n
ve n 100
400100 0-
bet 0 0 200
wee 10%3% 0
n 27%
300
0-
400
0
20%
bet
wee
n
200
0-
Less than 1000 between 1000 - 2000
300 between 2000 - 3000
between 3000 - 4000 0
Above 4000
40
%

3% paid Less than 1000

27% paid between 1000 - 2000
40% paid between 2000 - 3000
20% paid between 3000 - 4000
10% paid Above 4000

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9) How many sports/activities do you play?

Number of Sports/Activities

3 or 0
more 10%
23%

1
27%

2
40%

0 1 2 3 or more

10% played 0 sports.

27% played 1 sport.
40% played 2 sports.
23% played more than 3 sports.

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Chapter - 4
Formulation of product and brand strategy
“FootSole” being solely a footwear brand, because of a lot of competition in the market by both local
and international players, has seen a plateau in its sales figures and the enthusiasm in the
organisation is observed to be hitting the rock bottom each day. As the company has always
witnessed the growth of the brand through innovation, FootSole feels that this would be the right
time to surprise the market with its innovative products and increase its sales thus concentrating on
growth of the brand overall.

“FootSole” has been competing in the market through product proliferation, value, design,
innovation service provided though innovation has always played the major role in many aspects. In
FootSole we believe that the top management has the capability to commit to supporting the
innovations in all possible ways and also has the capability to set product strategy in aiming at the
growing trend in the market or to leapfrog and come out with a new product with new technology
that would initiate its own trend. The management is very supportive in any kinds of innovation that
serves a purpose and has a business value. It is also capable of communicating the set strategy to all
its stakeholders effectively and to mobilise them to an extent that it would bring them success.

BACKGROUND:

The strong technological culture, clear sense of the customer through the combination of market
research and intuition, ability to translate product concepts to attractive saleable products are all the
strengths of the organisation that has always helped in launches.

The company is trying to identify a fast-growing need and adapt the company’s products to that
need. Indians are becoming health conscious, and this is evident in the number of gymnasiums and
sports centres that have mushroomed in the last one decade. The media is partly responsible for
spreading the fever of health consciousness, and it has benefitted the Indian society.

One sector that has benefitted the most from the growing health consciousness of Indians is the
sports shoe industry. One cannot take part in sports related activities without proper footwear and
this has pulled up the revenue of sports shoe companies greatly.

The sportswear industry in India is valued at between Rs 3,500 crores and Rs 5,000 crores. And the
unchallenged market leader in sports shoes is Reebok. In fact, Reebok holds a 46% market share in
India and India is the only country in which Reebok’s brand value has surpassed that of both Nike
and Adidas. In fact, Nike has a mere 11% market share.

The top four sporting brands in India are Reebok, Adidas, Nike, and Puma. There are other brands
that manufacture sports shoes such as Bata, Liberty, Woodland, Fila, and Lotto, but their brand value
is not as strong as the four leading brands mentioned earlier.

India’s footwear segment in general caters to men, women and kids, and men’s footwear comprises
55% of the entire industry, followed by women’s footwear at 30% and kids’ footwear at 15%.

Studies have shown that there is not much brand dilution in the sports shoe industry but there is
brand confusion among consumers. The average consumer, who is not extremely knowledgeable

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about shoe technology, finds it difficult to distinguish between shoes produced by Nike, Adidas and
Reebok.

In fact, Puma is the only brand that has managed to carve out a space for itself as a fashion brand
too. In fact, the design of Puma shoes is slightly different from the rest – Puma shoes are sleek.

In India, people do not just wear sports shoes while taking part in sporting activities; they wear them
with casual attire too, which is why Reebok has managed to garner a huge market share. Reebok
shoes are designed in such a way that they can be worn with casual attire too – the designs and
colors are not as flashy as other brands.

Another reason why Reebok has made its way into so many Indian households is because Reebok
shoes are relatively more affordable than the other reputed brands. Indians, especially those in the
middle class, are conscious about the price.

Given such market conditions, Reebok has an advantage over other brands because it has a wide
price range for shoes, from Rs 1,200 to Rs 7,000. This way, consumers have more options while
choosing Reebok shoes as opposed to Nike, Puma or Adidas shoes, whose prices start at a much
higher level.

The sports shoe industry in India is going to grow, given people’s awareness and how conscious they
are about their health. One of the selling propositions of sports shoe brands in most parts of the
world is the technology behind the shoe.

At present, the average Indian consumer is not as aware of these technologies as he should be,
which is why brands such as Nike, which develops shoes with unique technologies, are not very
popular in India. However, this will soon change with greater publicity and awareness.

Brand players

Some of the top players in the global footwear market are Nike, Adidas, Puma, Fila and Reebok
among others. At present, among the top players in the global footwear market, Nike is the leading
footwear company followed by Adidas. Nike and Adidas have the greatest number of retail outlets,
strong distribution channel, and large customer base globally. In the economy segment, the major
players we identified are

Nike: Nike, originally known as Blue Ribbon Sports (BRS) founded in 11964. Inspiring the world's
athletes, Nike delivers innovative sports products, experiences, and services. Nike is a Top Sports
international brand which deals in the all kind of sports accessories specially Shoes and Apparels. It is
an American multinational Fortune 500 company based at Portland, Oregon. It is one of the top
sports business brands and the biggest sports equipment Brand with a turnover of around $27
billion. They have Multiple kinds of Design, color, and sizes and hence choose the right model
according to your preference within budget. For a casual look, they have canvas shoes which are
teamed up with a shirt and blue denim for perfect look and feel. Nike offers shoes in various
categories like running, golf, snowboarding, skateboarding, basketball, soccer, tennis, football etc.

Adidas: Adidas is popular for its unique designs and quality in sports clothing, accessories and shoe
range. They offer comfortable sneakers and sports shoes for men and women, ideal for running,
trekking, adventure and outdoor activities. This German multinational company was founded by

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Dassler brothers – Adi and Rudolph. It is the second largest sportswear company in the world with
the annual turnover of around $23 billion.

Fila: The Italian sports brand Fila which was bought by a South Korean businessman in 2007 making
it one of the largest sportswear company in South Korea. It provides the wide range of Top-Quality
sportswear and accessories which are mostly available at online stores across the Globe.

Puma: Puma is a globally famous Shoes and apparel brand which was launched in 2005 and sells its
merchandise through online stores as well as retail outlets in India. It is among the top five sports
shoe and apparel Brand. Puma shoes are comfortable, durable and pair them with Puma polo t-
shirts and blue jeans to get the cool and smart look. Puma's running shoes are most popular and are
high on style and functionality. Their bestselling sports shoes are evoPower football shoes and
evoSpeed cricket shoes.

Reebok: Established in 1895 in England, Reebok is one of the major admired brands in the sporting
world and contemporary history. Since 2005 it is the part of even superior product Adidas. As per
the most recent Sales data, it is ranked 4th in the list. This brand unites several options: provides
strength and grip, which is essential for taking a weight, offers more liberty to get around and even
run a short distance and gives you a fashionable look. It gives a flexible, breathable, and soft, pretty
much like sock wearing skill. There’s enough strength for a deep workout, which is pretty great.
Reebok offers shoes in the following categories: Men’s, Girls, Women’s, Sports, Boys’ and Classics.

Quechaue: Quechua is a mountain sports brand founded in 1997 in Domancy, France, dealing with
hiking, trail running, adventure racing, climbing and mountaineering apparel and equipment and is
sold in every store of Decathlon Group and sportswear shops. It employs 150 people. The name
comes from the Quechua language, an indigenous language of South America and also denominates
an indigenous people.

Nivea: Nivia Sports is an Indian sports equipment manufacturer based in Jalandhar, Punjab, India,
under the banner of FreeWill Sports Pvt Ltd. The firm makes athletic equipment such as footwear,
apparel, and accessories for football, cricket, hockey, badminton, basketball, and tennis. It has
partnered with many national sports events in India.

Lancer: Lancer footwear is a renowned footwear manufacturing company that offers diverse
portfolio of products, which adds comfort to people's lives. Footwear design, quality and customer
service are the key pillars of success which keeps inspiring Lancer Footwear to provide exceptional
products with unbeatable value for money. Through innovation and early adaption of latest
manufacturing technologies for footwear manufacturing, Lancer has always been instrumental in
coming up with diverse range of products which are well accepted with our diverse customer base
spread across India and world.

Sparx: Delhi-based Sparx, one of the leading footwear brands in the country, has been ranked 3rd
‘Most Trusted Footwear Brand’ in India in The Brand Trust Report – 2016. Sparx – a smart
sportswear brand – has also been ranked 222 in the overall Most Trusted Brands list, which
encompasses all retail categories and lists around 20,000 brands. Known for its active sporty design,
affordable pricing and a wide variety for fashion-conscious customers, Sparx works on two principles
– quality and hygiene.Its products include shoes, sandals and fabricated slippers, all available in a
range of colours and designs.

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Vector X : Vector X entered India in the year 1999 with a nationwide presence through

a strong dealer network, they are into various sports categories but with regard to the

athletic footwear they manufacture athletic footwear for different kind of sports with a

price range of Rs 820 to Rs 2000.

Focus: The focus is to target the economy segment.

Market Dimension: The data shows that the market for sports shoes have been rising steadily.
People tend to buy different shoe for each sport as the sport requirements are different. But the
economy class does not like spending on more than a shoe as they consider it a luxury.

With the perceptual mapping analysis that was done, we found that the sport shoes available are
either low cost, low quality or high cost high quality.

And no shoes were found in the market that aimed at multipurpose sport shoe which had the option
of changing soles according to the sport being played. Thus, the market seems to have an
opportunity that could be capitalized on to the company’s benefit.

So, a sports shoe whose sole can be changed according to the sport would be a better option for the
economy class. The different soles will be available along with the shoe. The shoe comes with a
default running sole, whereas the cost of the additional sole varies with the type of sole. Purchasing
a sole would be considerably economical compared to the cost of purchasing a pair of new shoes.

Technology Dimension:

The shoes will have two parts precisely. The body of the shoe and the detachable sole. The shoe has
a running sole by default. The sole detachment and attachment are done by a simple innovative
fastening that will endure all possible shocks during a sport.

Goal/Objective:

To capitalize on the gap identified in the market and to increase the market share to in the targeted
segment. Eventually to be the market leader in this product category.

Guidelines:

The product would be aimed at the economy class. The cost of the shoes would be slightly higher
than the regular sports shoes for the economy segment, whereas the cost of the different soles
would depend on the type of sole which will positively be less than half the cost of a new pair of
shoes. The durability of the shoes would be a minimum of 3 years considering the normal usage. The
company would invest on different marketing campaigns that would focus on ways to reach the
wide range of consumers of the economy segment. The existing distribution channels will be used
for the movement of the products (Selective retail stores, Malls, Online partners), addition to which
an innovative van campaign will be launched in the educational institutions and community societies

19 | P a g e
in selected tier 2 cities. The company will sponsor good amount of sports for the student
community.

4 Ps of marketing
Product
Our company plans for ‘one shoe, multiple sport’ where the user will have an option to
change the sole of the shoe according to the sport. As per market research reports it is seen
that the demand for the shoes is growing at a rapid place, our product can be viewed as a
multipurpose sport shoe where in the users can use the same shoes for different sports.
Place
The product will be sold through outlets and major retail stores, the retail stores selected are
strategically located and can be easily accessible by the people around the city. These
retailers can also include firms like Big Bazaar, exclusive sports equipment outlets like
Decathlon and also small conventional retail outlets that sell sports equipment.
Promotion
The company would invest on different marketing campaigns that would focus on ways to
reach the wide range of consumers of the economy segment. The existing distribution
channels will be used for the movement of the products (Selective retail stores, Malls, Online
partners), addition to which an innovative van campaign will be launched in the educational
institutions and community societies in selected tier 2 cities. The company will sponsor good
amount of sports for the student community.
Price
Since our product is new in the market , the company has decided to adopt a value based
pricing strategy, in this strategy company consider the customer perception about the value
of its products this value is used to determine the maximum price a consumer is willing to
pay for the product.

Prerequisites of brand:

•Distinctive name/symbol (from consumer's perspective): Our company name is Foot

Sole. The logo represents walking legs. Our Name and logo are unique in the industry and
this

will help the customer differentiate us from other brands.

•Strong associations: Brand associations are a set of remembered qualities that help
communicate information to the customer. These qualities should differentiate one brand

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from the competition, and therefore provide a reason to buy that brand over the other.
Through this brand we would like to build a strong association with people by providing the
best quality multipurpose shoes offered at minimum price.

•Consistency in change: Brand consistency is the pattern of expression that affects what
people think about your company. The more consistent our messaging, the more consistent
our branding — whether via words, design, offerings or perspective. Our brand should build
awareness and develop trust and loyalty with customers. While designing this brand, we have
kept in mind to design the product in such a way that it can easily be adapted to market
changes in future.

•Customer commitment: We would like to earn customer commitment through their

satisfaction with the performance of our product and service. Commitment is broken into
three different types: affective, continuance, and normative. Each style creates a unique
relationship with a customer and encourages them to stay with the brand for very different
reasons.

Function of the brand for a customer:

a) Mechanical essence of the brand

 Identification (making sense of the offer): Choose a colour palette. Use colour
psychology to pick a shade that matches our identity. The shoes come in the standard
white and black colour (Body of the shoe). The detachable soles come in Green, red,
white, blue and black colours.
 Practicality (savings in time and energy): As our company is first in the market with
this shoe. The company is going to establish the brand Foot sole as the number one
player in the market so that customers can easily recognise and purchase the shoe.
b) Risk reduction for customers
 Guarantee (same quality everywhere): We will make sure the products are all same
quality everywhere, in all our outlets.
 Characterisation (self-image of customer): This product is for the customer who
wants to live a healthy life style by playing various sports of their passion.
 Optimisation: We will achieve this objective by providing the best product in this
category.

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 c) Psychological aspects
 Continuity (satisfaction brought about by usage over time): We will make sure
customers are satisfied by the product quality and service we will be providing.
 Hedonistic (psychological satisfaction from logo): Our logo is designed in such a
way that leaves the customers in an energized state to purchase our product.
 Ethics: We will be adhering to all the ethics related to marketing, product quality
and service.

Principles of Brand creation:

Define the brand's identity

a) Why does this brand need to exist? What would the consumers be missing if the brand
did not exist?
This brand needs to exist to meet the demands of the economy segment. Customers
would miss the brand since no other brand is providing shoes with multi sole,
especially for such a least cost of good quality.
b) Standpoint: From where does the brand relate to customers?
A sports shoe whose sole can be changed according to the sport for the economy
class.
c) Vision: What vision the brand managers have concerning the product category?
Foot Sole vision serves as a guideline for each aspect of our business,
ensuring a profitable and successful future. Our goal is to position Foot Sole as the
gold standard of sports, fitness, training, education, entertainment and lifestyle
products, services and facilities.
d) Values: What are the brand's core values?
Brand’s core values are to benefit the economy segment.
e) Mission: What changes does the brand want to bring in people's life?
Foot sole is a organization that aims to promote a lifelong enjoyment of sports, while
emphasizing a positive consumer experience and instilling the core values of
discipline, teamwork, safety, respect and integrity.
f) Territory: Where is the brand legitimate in achieving this mission, in what product
categories?

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 We as a company are planning to establish our brand identity initially in two cities
( Mysore and Bangalore) in the state of Karnataka and later expand our brand to other
parts of the country.

g) What acts best convey the brand's mission and values?

Our product offers a great deal of customization where in sports enthusiasts can really
enjoy playing all the sports.
h) Brand's style and language: What elements of style and language are typical of the
brand?
i) Brand's imaginary client: Not the target buyer but the reflected buyer.

Brand Identity Prism:

Brand Identity was mentioned for the first time in Europe by Kapferer in1986. It is the
outward expression of the brand including its name, trademark, communications and visual
appearance. The brand’s identity is its fundamental means of consumer recognition and
symbolizes the brand’s differentiation from competitors. Brand Identity Prism enables brand
managers to assess the strengths and weaknesses of their brand using the six aspects of this
prism. • It also helps to find the ways of creating the brand loyalty and financial value.

a) Physique is the set of the brand’s physical features, which are evoked in people’s
minds when the brand name is mentioned. Kapferer states that this aspect must be
considered the basis of the brand.
b) Personality is the brand’s character. This can be realized by using a specific style of
writing, using specific design features or using specific colour schemes. Also a person
can be used to vitalize a brand.
c) Culture is the system of values and basic principles on which a brand has to base its
behaviour (products and communication).
d) Reflection (of the consumer) makes reference to the stereotypical user of the brand
and is the source for identification.
e) Self-image is kind of a mirror the target group holds up to itself.

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Multipurpose Shoes Brand Identity Prism:

a) Physique: “Just do it, logo symbol”

b) Personality: Sportive spirit, athlete, lifestyle
c) Culture: American, Indian, sports and fitness, hard-hitting, teamwork.
d) Self-image: “I am an athlete”,” I’m brand conscious”,” I’m cool”. Confident and
considering oneself as a tough athlete.
e) Reflection: Full of energy, being hungry and competitive, youthful, brand conscious,
tough competitor and determined.
f) Relationship: Comfort, provocation. “I will protect my home court”.
“Yesterday you said tomorrow”, “run the day, don’t let it run you”.

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Strategic Brand Management Process:

Identifying and Developing Brand Plans

Step 1

Designing and Implementing Brand Marketing Programs

Step 2

Measuring and Interpreting Brand Performance

Step 3

Growing and Sustaining Brand Equity

Step 4

Brand building is a very tough job and hence it requires a solid plan in advance. This is where
Strategic brand management steps in. The role of strategic brand management is to take the
brand equity of the company to new heights through sequential steps which add value to the
brand and ultimately position the brand strongly in the mind of the customers.

a) Identifying and establishing brand positioning : Brand Positioning is defined as the

act of designing the company's offer and image so that it occupies a distinct and
valued place in the target consumer's mind.
Key Concepts:
 Points of difference: convinces consumers about the advantages and differences
over the competitors
 Mental Map: visual depiction of the various associations linked to the brand in the
minds of the consumers
 Core Brand Associations: subset of associations i.e. both benefits and attributes
which best characterize the brand.
 Brand Mantra: that is the brand essence, or the core brand promise also known as
the Brand DNA.

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b) Planning and Implementation of Brand Marketing Programs:
Key Concepts:
 Choosing Brand Elements: Different brand elements here are logos, images,
packaging, symbols, slogans, etc. Since different elements have different advantages,
marketers prefer to use different subsets and combinations of these elements.
 Integrating the Brand into Marketing Activities and the Support Marketing
Program: Marketing programs and activities make the biggest contributions and can
create strong, favourable, and unique brand associations in a variety of ways.
 Leveraging Secondary Associations: Brands may be linked to certain source factors
such as countries, characters, sporting or cultural events, etc. In essence, the marketer
is borrowing or leveraging some other associations for the brand to create some
associations of the brand's own and them to improve its brand equity.

c) Measuring and Interpreting Brand Performance:

Key Concepts:
 Brand Audit: Is assessment of the source of equity of the brand and to suggest ways
to improve and leverage it.
 Brand Value chain: Helps to better understand the financial impacts of the brand
marketing investments and expenditures.
 Brand Equity Measurement System: Is a set of tools and procedures using which
marketers can take tactical decision in the short and long run.

d) Growing and Sustaining Brand Equity:

Key Concepts:
 Defining the brand strategy: Captures the branding relationship between the
various products /services offered by the firm using the tools of brand-product
matrix, brand hierarchy and brand portfolio
 Managing Brand Equity over time: Requires taking a long -term view as well as a
short-term view of marketing decisions as they will affect the success of future
marketing programs.
 Managing Brand Equity over Geographic boundaries, Market segments and
Cultures: Marketers need to consider international factors, different types of
consumers and the specific knowledge about the experience and behaviours of the

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 new geographies or market segments when expanding the brand overseas or into new
market segments.

Brand Resonance Pyramid:

Brand salience:

‘One Shoe Multiple sport’

Brand performance:

 Style and design: Our company’s new product comes with the latest and fashionable
design.
 Service effectiveness: Our company believes in an exchange policy which allows our
customers to get back full refund in case of any damaged shoes.

Brand judgement:

 Known for delivering cost efficient shoes.

 Well known in economy segment.

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Brand feelings:

 Fashionable
 Easy to change
 Value for money

Brand resonance:

 Behavioral loyalty
 Attitudinal attachment
 Sense of community
 Active engagement

CHAPTER – 5
Learnings from the case

Specific learning from project

* We gained conceptual knowledge and also gained insights into formulation of product
strategy and brand management to developing new product.
* We understood the structure of process of market opportunity identification, new product
development, product launch and post launch management of products so that we created
value for the enterprise.
* We understood the shoreless of product strategy and brand management to create value for
the company
* We also learnt to Develop a product strategy and brand management plan as it created
values for consumer and its fitment in the firm’s overall strategy in the backdrop of public
policy and social dimensions

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Business leadership

Enterprises can gain leadership by launching successful products , As this project of

developing new product helps us to understand the opportunity identification for new
products, filtering them ,avoiding drop errors and go errors in choosing potential ideas for
further development.. This ensured that products launched are in tune with overall business
goals. Product strategy and brand management get strongly linked at the launch stage.
Therefore we understood that firms, while developing products ought to factor brand
management dimensions. We also learnt in this course like frameworks and approaches that
enables a future manager to do so. we understand that in some situations concepts of product
strategy and brand identity have challenged decision makers to either enter or exit a business.

Value creation: We learnt the competition which arise while launching of successful new
products, maintain health of existing products and dropping products from its portfolio as per
the changing needs of the business environment. This implied for us to provide value to
customer. Two aspects govern the same - value creation and value capture from customer
perspective. We learnt how the concepts generated are converted into products and (the
value) are appropriately delivered to customers and value facets are also communicated to the
customer
In the context of value creation it is more than just product features. Brand management
involved understanding functions of brand in the context of value creation which we
understood by this course.

Generation of (product) ideas and defining the same

Used logics, frameworks and research/external information while generating Ideas.

Shortlisting of ideas
We Completely used the frameworks and made clear demonstration in linking the same to
value creation.

Data collection
We Used secondary data, primary data from different segments and collected information
from experts and market sources. And also our primary interviews and demonstrate
approaches indicated.

Analysis
Here we used relevant frameworks, integrated multiple frameworks, linked the analysis to
business leadership, value creation and also incorporated dimensions of social responsibility
issues in product strategy and brand management .

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