Shark tank debate - It\'s an assignment PDF

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Team: Tu Nguyen, Mina, Mustafa, Hiba Esigo 1) Product Description: Our item gives numerous things to the regular lady. At the point when your feet get drained, you will have the capacity to make yourself agreeable by transforming the heel into a level shoe. Or, on the other hand in the event that you need to go out moving, you can without much of a stretch change your shoe into a heel. Our item gives solace and security in the most helpful way that is available. This across the board shoe will be spot on your feet and will give comfort wherever you go. No longer will you need to hold up under the agony of wearing a heel throughout the day. This will be a timesaving gadget for ladies with occupied calendars that need those additional couple of minutes for the duration of the day. Most ladies need to wear heels at work or for uncommon events, however can't discover polish and solace. With this shoe, you'll get the style and additionally comfort level you seek. With the brisk press of a disguised catch on the shoe, it actuates the heel to the fitting level. This shoe can change to various stature levels and is made for easygoing business clothing of for the night out, without the bother of changing to another match. It gives full curve support and much adaptability. This adaptable item is intended for all climate assurance, made for those unusual conditions and minutes. Our planners have attempted to guarantee that the heel will be agreeable, yet popular. 2) How does it wok 3) We've ALL been there: either stuck at the end of the day with an impending commute and nothing but pain in your poor, worn-heels-all-day feet OR, ready to go for drinks after work with nothing but your boring, casual flats for company. Sure, we could take two pairs of shoes to work every day but really, who has time for lugging extra weight on the train twice a day? The way it works: • Pull the trigger backwards till the shoe is open • Close the trigger and fit in your favorite heel • Once the heel is in place add weight on it by standing and you will fix it While I don't like to swap heels for flats in public (pavement + bare feet + onlookers = ew), I was hoping this handy switcheroo system could be a more ladylike option should push coming to shove. And with a series of weddings coming up this summer, this could finally prevent me from having to bring an emergency pair of flats when the dance floor gets the best of me My Mimes—the Downtown style—arrived as flats, along with separate mini boxes and handy pouches for the stiletto and midi heels. one pair of shoes, with one pair of flat heels and one pair of heels. So, fortunately, the shoes come with some instructions—you'll only need to look at them once, but intuition alone may not be enough to set you off on your shoe adventure quickly. The functionality centres around a small lever in the flexible sole of the shoe (it's a patented invention called the Flexheel insole). Lift this latch to release the heel, slip the interchangeable appendage on, close and then step into the heel with your body weight, thus securing the swap. come with five different interchangeable heel options. There are high and medium stiletto heels, high and medium block heels, and a flat heel, too. according to a video from Tech Insider UK, the different heels fit easily into a handbag, making them ideal for carting along on a

commute, to a wedding, or pretty much anywhere else. Plus, they easily click in and out, meaning you’ll be back on that dance floor in no time.Target market and finacials Our product will be made from a composure of Recycled R.G. cloth and added with the rubber component for heel. The approximate price for the product and miscellaneous cost would be $40 and we propose to sale the product for a net price of $100. This will reap us a profit of 60% on cost. We will go for the online channel to promote our product in the first phase. The test period for the first phase would be 6months. Our target market for the item is women who occupy the professional space and young adults who take an interest in fashion, but more importantly who occupy the social scene; that comprises going to clubs and attending social gatherings/functions 4) Competition This product is a flexible kind of shoes for dynamic people. Our target customer should be younger people such as students or young office employees. Thus, we aim to approach a middle class in the society. The price of our products can be reasonable for people who do not want to cost a lot of money on clothes. The price range for this shoes is around 200$ depending on the color and styles. Our competitor can be Guess, Kenneth Cole, Steve Madden and Zara. There are some common brands for adolescences who require the flexible products with a reasonable price. They have a biggest advantage which is being familiar with the customers for a long time. These brands also have a diversity of products. However, our product has some outstanding features in comparison to other brands. Its versatility is a big difference of our products. The adjustable shoes can give the customer more choice with the same price as others. Our customer can change the kind of heels quickly. It makes the customers to be more active. In addition, by using adjustable shoes, the customers can save their money by just only buying a new heel when the heel is broken. Initially, our brand is new, so we have to trigger a lot of promotions in order to make our brand become popular. The customer can have a discount for spending more than 150$ at our store. We also run a program to change the heels for our customer for free during the first 6 months. These promotions can help us to attract a lot of customers. Question: Question 1: Who are your five competitors? Why?

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Kenneth Cole JBU Guess David Tate Callaway

Question 2 Who is your target market?

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Our target market for the item is women who occupy the professional space and young adults who take an interest in fashion, but more importantly who occupy the social scene; that comprises going to clubs and attending social gatherings/functions.

Question 3: How are you going competitively price your product?

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This product is a flexible kind of shoes for dynamic people. Our target customer should be younger people such as students or young office employees. Thus, we aim to approach a middle class in the society. The price of our products can be reasonable for people who do not want to cost a lot of money on clothes.

Question 4: How is your product significantly different with anyone exist?

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The heel part of this shoes can be changed. It brings more choice to our customers. They can change their shoes styles quickly without paying any addition cost. Moreover, due to the flexible heel part, the customer can save money by paying for a new heel part if it is old or damaged.

Question 5 : Why people need this? what problem does this solve?

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High heels have been an essential item in women’s wardrobes for centuries. Women use high heels for different purposes such as getting style, to get confidence, and sometimes for the uniform of their job. While wearing high heels has two cost for women, first cost is financial and the second one is disadvantages and dangers of wearing them to the body. Heels are the main reason of the ankle and back pain in majority of women across the world, but women still wear the heels without any restrain to abandon them. Adjustable shoes from flats to heels would help women to fit everyday occasion. They can easily clip on and off the shoes in the required situation. For every woman who needs high heels to go to work with heels, changes can easily be applied to their flat shoes to heels as soon as she gets to the office, and later changes to have a pair of flat shoes to go back home. All they need is to have their extra heels in their handbags and adjust them easily when they need them.

Question 6: What is the name?

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Esigo

Question 7 How are you going to make money?

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Our product will be made from a composure of Recycled R.G. cloth and added with the rubber component for heel. The approximate price for the product would be $10 and we propose to sale the product for a net price of $40. This will reap us a profit of 75% on cost. We will go for the online channel to promote our product in the first phase. The test period for the first phase would be 6 months.

Question 8 : List 10 objections that consumer may have your products?

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The consumers can be skeptical about the durability of our products. The consumers may be confused about our new brand. The consumers realize that changing the heel part is not convenient In market there is lots of different style and design for shoes so consumers are looking first for design than other thing Consumers are worried about the quality of the clip which may easy to break down Consumers still concern about our guarantee services. Consumers may worry about the appearances of our shoes....