INTERCHANGEABLE HEELS

Group 2
Nishchal Aurora-D007
Tanisha Garg-D020
Rushikumar Maheshwari-D038
Champakesh Gopal-D022
Naman Jain-D028
Shikha Sharma-D058
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Introduction- Opportunity in footwear industry

India annually produces 2.1 billion pairs of footwears

90% of these products sold in India

The women segment in particular is growing at a much faster CAGR of 20%

NPD group’s survey suggest that sales of high heels have dropped by 12% in 2017

Price increases, lack of variety is not the issue; but preference towards comfort over high heels

An opportunity is observed if comfort and high heels both are catered

Women footwear
industry Major companies:
opportunities: Bata
• No brand loyalty Veekesy rubber
• High profit industries
margins Metro Shoes
• Value for money Liberty
Relaxo
Paragon
Khadim
Adidas
Nike
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Market Research
Expenditure on footwear yearly

Preferred Heels Willingness to pay for the product

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PRODUCT DESCRIPTION
“Souled” are the products we have put forth and designed a marketing plan.

Need for the product: Opportunity is hatched:

▸ Heels have been a problem area for
women
▸ Heels tend to break off, cause a lot of
foot pain
▸ Once a heel breaks, the shoe often
needs to be discarded, requiring
replacement
▸ Based on primary research, a typical
woman purchases 4-10 pairs of shoes,
spending on average ₹3000-5000 per
year
▸ Middle to upper income segments are
the primary purchasers
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PRODUCT CONCEPT

Comfort
Consumers don’t by product ideas,
they buy product concept

Appealing Hassle
/Trendy free

Value
Proposition

One shoe
Economic many
heels
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SWOT
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Values and objectives

Mission
To be a one stop solution for all women’s footwear needs
Vision
To be India’s largest footwear corporation fulfilling the footwear needs of women by cumulating innovation with
the latest trends
Market Objectives

 To sell more than 8,00,000 heels in next five years

 Future presence in top 20 cities of India with instance marketing in next 5 years
 Reduction in distribution cost
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Segmentation
Geographic

 ‘Souled’ will start with 6 Tier 1 cities

 The total target population is 1.5 million people

Demographics
 Females – Age – 16-50 yr
 Income Group Targeted among these cities is having monthly income more than 20,000 INR (Middle- 3.5%,
Upper Middle- 1%, High- 0.5%)
Pyschography
 Consumers that are looking for value for money
 Fashion Oriented , extroverts, stylish
Behaviour factors
 Affordable comfortable footwears
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Target markets

 Students
College students (undergrad and post grad)
 Young professionals
This segment consists of consumers who have a dynamic and busy lifestyle
 Working women
Women who balance work and their households
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Positioning

Positioned itself to be one stop shop for all heels-related needs

Fill a gap in the market by addressing the need of saving money to buy different heels for different
occasions
Souled provides a single quality, comfortable, convenient and affordable solution to all fashion savvy
women
Tagline - “Different heels for different feels”
It has the following position strategies:
▸ By Use and Application
▹ Single shoe with multiple heels for different occasions
▸ By Product Attributes and Benefits
▹ Premium brand with high quality products
▹ High Value for money
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Critical issues

Counterfeiting
In India, Counterfeiting is the biggest challenge as unorganized players tend to imitate everything from brand
logos, names and styles due to which there is an adverse impact on sales and brand equity
Low participation in sports
A large amount of Indian population which includes people living in rural areas and belonging to lower middle
class category do not engage in buying heels
Lack of Product knowledge
People lack the knowledge about the working and usability of the product. They may also have a safety concern
since it is an interchangeable heels
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Product Pricing

Product
Since this is a unique product in the market which is trying to fill in a gap, based on the research, it will fit in the consumer’s budget as
well as offer them an opportunity to save cost over the competitor’s products wherein they have to buy multiple heels.
The product has attributes like light weight, durable, excellent support, multi choice heels, comfort, convenience

Pricing
Penetration Pricing
 We will attempt to gain market share by attracting customers simply through the use of marginally lower costing products than
our well-known competitors initially.
Razor blade pricing

 Later on, we plan to keep the prices of our initial product low and at a base price and the corresponding interchangeable heels at a
higher price.
 Selling the product initially even at lower margins will help to increase the overall demand in the future, for the heels which will
be sold for a premium.
 Since the heels would only be compatible with our products, we have assured demand for the heels
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DISTRIBUTION CHANNELS
We are implementing a multi-channel distribution strategy to enter into the market

Zero level Two Level FEATURES:

Channel Channel
COMPANY
▸ Initially we plan to venture into
markets in Delhi and Mumbai
▸ We shall associate with Myntra and
ONLINE OFFLINE utilize its status as a leading online
fashion retailer
▸ We have chosen three
LOCAL establishments which are frequented
MYNTRA DISTRIBUTORS
WEBSITE
by a large number of our target
market and hence would extend our
product outreach
One level
Channel
SHOPPERSTOP LIFESTYLE CENTRAL
▸ 6 Distributors, 3 Retailers
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TIMELINE

Stage 1 Stage 2 Stage 3 Stage 4 Stage 5

(Sept-Nov) (Nov- (April-May) (June-sept) (Sept-
march) Auto)
Advocacy

Consideration Retention •Blogs,

Newsletter,
•Social Media, •Promotions, Social
Blogs, Emails, Loyalty Network
Online Ads Purchase Programs, •In apps
•Use Social Referrals personalized
Awareness •Souled will notifications
media •User featured
influencers to connect to articles on and referral
•Content influence fashion major website options and
advertising on enthusiasts footwear incentives on
Blogs, Quora, retailers referrals( a
Pinterest, •Give product new connect
Buzzfeed the look link to the
•Advertisement to buy the millennials)
on catalogues heels online
at various on “E -
Point of Sales commerce”
application
Eg: Myntra &
Jabong
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GO TO MARKETING STRATEGIES
#Feel the Heels
• Setup a stall with different heels and shoes in malls
and shopping complexes #Go Digital
• People will make different designs by different
combinations of heels and shoes
• They will post their pic with the heels on the social Collaboration with
media youtubers- short films
• Person with maximum likes and shares will get gifts comprising of themes
and discount coupons • Fashion
• Trends
Offline • Women
Online
• Celebrity influencers – Disha • Social media- Digital ad
Patani and Alia Bhatt campaigns ( Eg: Can you see
• Radio – “Wear a new heel it, yes I can)
everyday” • Google ads- relatable search
• Partnership with shopping queries
complexes such as shopper • Brand integration- Other
stop and lifestyle fashion appliances
• Banners, posters, newspaper
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Economic case

Online Offline

Company
Myntra Distributor Retailer
website

1600- 1100- 1500-

Cost 800-2000 Cost
3200 2300 3200
2000- 2000- 1700- 2000-
Sale Price Sale Price
4000 4000 2900 4000
1200-
Profit 400-800 Profit 600 500-800
2000
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THANKS!
Any questions?