Venture concept 2

1. Opportunity

Kids feet grow very fast, and constantly are in need of new shoes to accommodate. This causes families to spend more than necessary on footwear, and is also wasteful when throwing out the previous pair of shoes. The customer demographic is families with young children and this need exists all over the world (kids with feet are all over the world).

1. Innovation

My idea that solves this issue is adjustable shoes. The way this works is that it will have a pin/button on the side of the shoe that locks in place to the desired size. It can be moved forward or backward. (see below)

The shoes will be made will a breathable athletic material, with excess at the “joint of the shoe”. This allows for the size change and when fully extended there will be no excess. In the soul/foot of the shoe there will be a mechanism that allows for the shoe to slide. The back of the shoe is wider to allow room for the adjuster to slide between. In order to fully accomidate the unmet need, the adjustable shoes will have two traits (selling points).

1.They will be relatively cheap

2.They are durable (last a long time)

The revenue drivers are the sales of each type of shoe. Different colors being (black, white, blue, and pink).

1. Venture concept

-people would buy this product because it would save money in the long run

-the shoes will look fashionable

-last a long time

-it is more practical than competitors

-there’s color options for everyone

-they will be comfortable

-(pretty much everything you could want in a shoe)

Competitors:

The products that rival my concept are any other shoe brand. The downside of their shoes are that they won’t have the added benefit of adjusting to growing feet. Meaning they won’t last as long. While there are many other factors that will contribute to the success or failure of this product, it will be defined by the function it offers. The shoe will be sold in retail stores and online. I will devote resources into concepts and design of the shoe by hiring creative engineers that ensure the shoe is top quality. I plan to eventually sell the rights of the shoe to a larger company and make cash money.

Feed back: what I took from the feedback is to make sure that the shoe is durable, otherwise it wouldn't provide the service it suggests. I made sure to include that as well as some other small details. Other than that I did not change much from the first assignment. People seemed to like the idea, and it seems to be clear enough as to what it is/does.