Advanced Entrepreneurship for Triangle Air Snickers - Essay Example

Through this new product, Triangle solutions will be able to target a large number of customers because shoes are the basic need for anyone living in any part of the world. This means that no one will ignore the relevance attached to footwear in the daily routine life of human beings.

The Industry
One of the major aims of the Triangle casual shoe wear product is to be able to provide a better quality rang product to the triangle solutions customers. This means that the business will be able to meet the target of getting the product in different countries like Brazil, the United Kingdom, China, and France.  It is a well-known fact that the Chinese market is of the most reputable in the world especially due to its economic cost in the market.  France is also famous for its designer wear while brazil has a great market for snicker shoe products that include other forms of footwear. Other manufacturers produce a huge selection of fashion footwear for both men and women in the countries (Burton, Parker, & Lawley, 2012).  The product will mainly focus on the united states industry because it is the native home for the triangle solutions meaning that it will be easy to deal with the suppliers in the best way and also be able to get better quality and price.

Market Size
The relationship that the product will create with its competitors will be mostly focused on the price and market position. In some of the markets, competitors will be found to have reached what is commonly referred to as a modus vivendi, this means that in this situation there are generally understood rules on how competition with other products occurs.  Market size will also mean that the product will have to look at the value to which the product offers the consumers.  The less stable the market size, the greater the rate at which the price of the new product will be determined (Burton, Parker, & Lawley, 2012).

Team requirements
There will be several team requirements which will be of vital importance in introducing the new product in the market. First of all, we will need the skills of a Marketing Manager who will help in position the product in the market. There will also be a new designer to provide a unique aspect in the new footwear that will make customers prefer it over the other. The financial manager will also be important in determining prices. We shall also need distributors to distribute the product in different retail stores around the United States (Burton, Parker, & Lawley, 2012).

Scalability
Scalability is the ability for the product to experience constant growth in the market without having to change it or its qualities. With the current economic trends, there is a great threat for many businesses in the world, this makes people fear venturing into new businesses. But with the research on the footwear industry, the business is one of the constantly increasing business ventures in the world. This means that the business is bound to grow in the coming years. In addition, women are usually more curious about their clothing meaning that they are always into new trends in the markets including fashionability. Given that the product is new, triangle solutions footwear is bound to have grown more than other ordinary products in the footwear market (Burton, Parker, & Lawley, 2012).

Financials
There are two key influences in the financial growth of the new product. This is the cost of the business and the value to which the footwear will have on the consumers.  This means that when the competitive environment is not so stable, then the degree of pricing will be determined by the cost rather than value. In this sense, the prices for the product will be determined by other available products like Nike and Puma who have been in the industry for a long. The uniqueness of the product however will provide value to the customers making it more popular than the other (Burton, Parker, & Lawley, 2012).

Subsidiary company
The Shoe product will be known as the Triangle footwear, this will provide a missing link between the company and its customers given that the company specializes in domestic products and mostly female and male clothing. By being a subsidiary company, triangle footwear will be able to provide marketing and communication needs for triangle solutions at a satisfactory level (Burton, Parker, & Lawley, 2012). This is because the product has the ability to serve the emerging markets of fashionable footwear for both the young and old, which is part of the company’s major objectives.

The team that will be responsible for this will include, marketing managers, sales, financial managers, designers, and the company’s distributors. The approach that will be used will include the promotion of sporting events and advertising. This approach is best because it will give triangle solutions a chance to develop a close relationship with its clientele base and also be able to set the ground for the new product to the market.