Free Sample: Marketing Synopsis paper example for writing essay

Marketing Synopsis - Essay Example

This case presented a perfect scenario which describes how human needs, wants and some basic problems lead to innovation. The basic problem of smelly and sweaty feet, led Mario Emeriti Applegate used his pocketknife to cut holes in the soles of his sneakers, thereby creating the first pair of shoes that breathe. It took him many years to develop and patent a breathable membrane for shoes that would allow feet to breathe while remaining watertight. Initially none of the existing manufacturers showed interest in his product. He thus decided to embark on his own.

After the Initial success of the casual shoes, GOES expanded its market towards the apparel and the sports shoe market as well, thereby demonstrating the power of Innovation. Since then, GOOSE had carved out a niche for itself through distinctive innovation. It has been adopting strategies to ensure that it could successfully renew its technology, products and process, and maintain long term competitiveness. Key Issues and Fact Finding: * According to us, first issue was, Polecat had no prior knowledge in the field of engineering and shoe industry. The research process was exhaustive.

After insulting various publications and encyclopedias he recognizes that a watertight breathing membrane worn by NASA astronauts can act as a prototype for his shoes. * After patenting the new technology, second issue was that none of any shoe leading companies in Italy showed interests in his product. This led him to manufacture the shoes all by himself. * Third Issue was that after diversifying Its product portfolio and expanding Internationally, GOOSE could not enter sports shoe market as it had intense competition and it required a very different technology.

Polecat felt that every sector requires a different mind-set, but in response to nonuser requests, Golf Shoe range was launched in 2009. * The last and the major key Issue was that shoe market was highly competitive and to maintain Its position, only innovation could not help. The shoes must be stylish and trendy enough to match the style offered by others. Thus GOOSE had to constantly work on product differentiation while maintaining its quality and costs. Key Learning: * The very first thing this case teaches us is that “Necessity is the mother of invention”.

We must be constantly aware of our surroundings. One should have zeal and enough confidence on oneself to convert the opportunity in potential offering. Polecat realized the necessity of the shoes that breathes and created a new market altogether. * Take small steps and have full faith in your potential. Polecat initially 1 OFF small. This gave him an opportunity to test the response of the customers in limited period of time. After getting satisfactory response, he then switched over to men and women wear and expanded the market gradually. * “Think big”.

Initially he started locally and then expanded its target market by entering in apparels and sport shoes. The company then, internationally diversified its product portfolio. Polecat realized his true potential and knew to what extent he could go. Questions: IQ . What do creativity and innovation Signify and entail? What are the key types of innovation? Q. Analyses Goose’s innovative strategy in detail. What are features of this strategy that have made Goose shoes a success? What factors, other than product innovation, does Goose owe its competitive advantage to?

Q. 3. Assess the market environment of the industries Goose operate in. Who are Goose’s key competitors? What Strategies and options are available to Goose for sustaining its position in these industries? ANSI : Creativity: The process of generating ideas and new ways of doing things is called as creativity. This term is more frequently used in arts. It more refers to the thought process. Innovation: The process of generating ideas and filtering them checking the feasibility of the idea and implementing the idea to create value is called innovation.

In simple terms it is the process of creating value by generating new ideas or changing existing ideas. Creativity is a part of innovation. Types of Innovation: Product Innovation: It involves the process of creating new products or altering existing product with new technology in order to create value to the customer. Process Innovation: It involves the key changes in the way of doing business. Impact of process innovation would be big. It should be communicated with the end user effectively.

Service Innovation: Creating new service applications which enables the customer much convenience. NAS:2 Innovation strategy for GOOSE: A good idea, constant collaboration with universities in order to see if idea is feasible and improve it and a patent to protect the innovation. Success Factors: * Company invested heavily in R&D. In 2008 GOOSE spent IIS$ 20. Million on R&D expenses. * GOOSE emphasized on the value of the patents. It made development of “Breathing Technology’ its mission and held over 50 patents in this field.

These 50 include Rubber soles patent, Leather soles patent, Apparel patent, patents related to processes, equipment and machinery and material. These patents helped in gaining competitive edge. Factors that Gave Competitive advantage: They positioned themselves as one of a kind catering to the entire family. Product categories were based on the target customer Target customer: Male, Female, Pricing: Medium to medium-high price range of market Product Categories: Classic products which were elegant and traditional.