Product Objectives
- To have our first store within 3 months, and branches within 8 months
- To develop a full brand identity within 2 months
- To register 75% sales within the first 3 months of operation
Our Product
Flip-flops are open-toed footwear that are worn casually at the beach. Some people also wear flip-flops during leisure walk to keep their bodies fit. Regions that experience extreme heat conditions face high demand for flip-flops given that the shoes do not enclose heat and are comfortable to wear especially under hot sunny condition and in sandy coastal regions. The product is worn easily because it does not have laces, buckles, or socks. Additionally, the product makes consumers feel relaxed since they are less strenuous compared with high-heeled shoes. Bearing in mind that the UAE is an Islam religion, flip-flops are highly demanded because of the ease of wearing.
Currently the footwear industry in UAE is in the maturity stage where there are many competitors. The market as well is dominated by larger players. Chitale and Gupta (2011) agree that maturity stage occurs when distribution has attained the peak level and when the percentage of population that will buy the product has been reached. The direct competitors of flip-flops are sporty water shoes, Havaianas, and Crocs. Indirectly, flip-flops compete with closed-flat shoes and open-toed closed shoes, which are light, cheap and come in variety of colour, shape, and size.
Core, actual and augmented product
The core of the product is providing casual and comfortable footwear to diverse customers. The major feature of flip-flops is the ease of wearing because it does not require laces, buckles, or socks. Besides, the footwear is comfortable to wear under environmental conditions in the UAE. The product is designed to have different colours, slip-on design, 3.75 oz weight, rubber thong, cushioned insole, and brand signature on the thong. Additionally, it will be produced in variety of sizes.
Packaging Design(2014) asserts that the design of packaging should allure, persuade, inform, wrap, and offer protection to the product. A good design should be attractive as well as offer an emotional appeal. Ultimately, the customer should be able to make informed decision based on the packaging. In the case of our product, each pair of flip-flop that is sold to individual customer will be wrapped in a company-branded bag that carries essential information about the product. However, in a situation where a customer has purchased large quantities, packaging will be done using carton boxes for protection and for ease of transportation.
The product will be branded flopas to rhyme with the general name flip-flops. Hestad (2013) outlined some of the features of a good brand as innovative, beautiful, helping in understanding of a product, honest, and durable. Flopas seek to fulfil these qualities. Besides meeting the qualities of a good brand, flopas will work faster particularly in online search engine. To support the product, an assistant will be available both online and in various stores. Additionally a customer will be allowed to return the product if it does not fit or is faulty. Repair services will be availed to customers who frequent the store.
Aware of the fact that several similar products are available in the market, it is imperative to begin with flip-flops of distinctive colours and designs. Prices will be reduced below the market price to help capture customer’s attention. Initially, a single store will be established to sell ready-made products. However, new stores will be opened across UAE to handle customised flip-flops. In the future, product mix will be developed by taking part in brand extension for the same target market where new designs will be introduced.
References
Chitale, A., $ Gupta, R. (2011).Product Policy and Brand Management. New Delhi: PHI Learning Private Limited.
Hestad, M. (2013).Branding and Product Design: An Integrated Perspective.Surrey: Gower Publishing.
Packaging Design.(2014). Web.