V. Environmental Forces
- Political /Legal
- The state requires that all businesses make known chemicals and substances that are used in the manufacture of products
The law demands that all the substances used in the manufacture of products be made known to the public. They should carry the necessary clear and reasonable warnings if they are harmful to consumers or expose them to any form of healthy risks (Pride and Ferrell 197). It must be shown to the public that these substances have passed the requirements of the set FDA standards and, therefore fit for human consumption.
The law dictates that, if any of the materials used in the production of shoe insert is harmful to women in any form, this should be made clear to them in order for them to make informed choices that will not case them any harm in regard to their health.
- Terms and Conditions
Shoe Insert for Working Women has a website whose material is copyrighted. The information, images and graphics therein are only and strictly for the purpose of personal consumption. A user shall not change, publish, copy, retransmit or use any information on the website for commercial gain unless permitted by the company under law. In addition, a user shall not, in whole or part exploit any content displayed on the website in any way as to earn personal gain. Any user that does to the contrary will be held responsible for his or her actions and will be sued under the state law. Moreover, parents and guardians will bear the responsibility of any underage user that is found guilty of any of the activities highlighted above.
- Economic
- Current state of a downward economy
- There is a huge decline in economic activity in the country which has lasted for some time. This is seen through a decrease in the purchasing power of the consumers, unemployment, a decline in industrial production and high inflation. All these factors lead to a decrease in the country’s Gross Domestic Product, which impacts negatively in the business environment of the country.
- However, the attractiveness of this industry can be attributed to the change in consumer patterns, especially women who get attracted to new fashion in the market.
- Implication of such an economy
- With such a situation, it implies that small and medium size businesses are likely to suffer the most compared to big and well established businesses. This is because they have not grown enough to go through such economic hardships. A lower purchasing power means that consumers will cut on the unnecessary expenditures and thus putting the shoe insert for working women business under threat.
- The barriers to entry in the shoe industry are considerably low. Since the barriers to entry are low, the threat of new entrants is high, which would have impact on profit.
- Social/Cultural
- The Norm
- Deviating from the norm is a very difficult thing for any person. Consumers are difficult when it comes to accepting a new product in the market and, therefore, need to be fully convinced of the use and advantage of using a product like the shoe insert and insoles. To achieve this, the shoe industry can opt to give incentives in order to make the product appealing to the customers.
- Social Influence
- In the promotion of a new product, this is a very important element. Women that have used the insole can be of great importance in convincing others to buy since they have experienced its effectiveness. This makes it essential to make sure that the company produces the best in order for customer experiences to attract more customers.
- Technological
- Internet
- With continued improvements in the world of technology, the use of internet doing business has significantly grown. Consumers can access products and shop online, and it is for this why that the shoe industry has offered for this option on its website.
- This saves the customer time given that one does not have to locate and go physically to where she can get the insole.
- Given the general ease of internet accessibility, this platform provides a channel through which potential customers from different part the world can access and order for the shoe inserts.
- Cost of Production
- Technological advancement calls for improved methods of production in all industries. The implication of this is that the cost of production will go up considering that investment has to be made in the purchase of machines.
- However, with increased investment in machines, then quality products are expected and this is the core objective of the business. To provide women with quality shoe inserts that will give them comfort and value for their money.
- International
- Increased competition
- The international market provides increased competition for our product. Companies in other countries may venture into the same business and reduce the market share in these countries (Utton 118). Therefore, it is important that we produce high quality insoles that will have no match in quality in order to consolidate the market share even in other countries.
VII. Marketing Mix
8. Warranty
- Our company guarantees the clients that all products sold are of the highest quality and are from any sort of damage at the time of purchase. For this reason, the company urges any customer that will find any product defective at the time of purchase to contact us for the issue to be corrected appropriately.
- However, to safeguard the interests and integrity of the company and to promote utmost good faith from our clients and ensure that they receive the best products, the company will not provide a warranty for products purchased from unauthorized dealers (Perreault, Joseph, and Jerome 66). This is to protect the company from suffering unfair losses while also encouraging the consumer to get our products from the correct places due to increasing counterfeits.
9. Packaging
The insole will be packaged in a small box
The box will weigh close to 200grams
Inside, it will have the insoles each wrapped in its own piece of plastic bag
It will also have a small piece of paper that educates the customer on how to use the insoles and the advantages of using them.
The outside part of the box will have
- A picture of the contents
- A picture of a smiling woman removing her shoes after using the insoles
- A list of the substances used to make the insole
- The contacts of the company for any queries concerning the product
- The retail price of the product.
Works Cited
Perreault, William, Joseph Cannon, and Jerome McCarthy. Basic Marketing. 19th ed. New York: McGraw-Hill Press, 2013. Print.
Pride, William, and Ferrell, O.C. Foundations of Marketing. New York: CengageBrain Inc., 2013. Print.
Utton, M A. International Competition Policy: Maintaining Open Markets in the Global Economy. Cheltenham: Edward Elgar Pub, 2006. Internet resource.
