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Transcript of FootFeel
-After careful consideration, Soul Team believes the best area to survey potential customers would be Arizona State University, on Tempe campus. Soul Team believes open-minded individuals, such as college students would be the best psycho graphic for a survey market. A demonstration sight for the FootFeel product will be set-up at the campus, with Soul Team also running a survey to record student feedback.
Soul Team’s efforts paid off as they were able to survey 100 college students of various ethnic and cultural backgrounds. Soul Team has organized the data to present the results of the survey to FootFeel.
After presenting the survey data results, FootFeel informs Soul Team that the company has a projected manufacturer suggest retail price (MSRP) of $12 per canister. FootFeel wants Soul Team to do a second follow-up survey with people who showed interest in the shoes. Soul Team will use Facebook to contact the respondents and offer them a second canister of FootFeel spray on shoes for their participation in the follow-up survey. The goal of the second survey is to measure consumer feelings and reactions about the shoe after a month of use as well as the MSRP of $12.
Based upon the results from the second survey, Soul Team does not believe there is a large mass market for the shoes. The data suggest that people do not like the ratio of application repition and short durability of the FootFeel shoe to the retail price. However, there is a clear correlation that many user enjoy the shoes for periodic usage such as hiking or yoga. In these cases, the shoes may last longer because of less frequent usage, and therefore may justify the $12 price. Soul Team advises FootFeel, from a marketing standpoint, that the best course of action is to target the niche market of recreational users. Soul Team recommends advertising efforts to focus on this consumer behavioral segmentation based upon the 80 / 20 Principle which indicates that 20% of all customers generate 80% of the demand.
Four college business students have recently been selected to intern for a company called FootFeel. The purpose of their internships is to collect market data on a revolutionary new “spray-on” shoe manufactured by FootFeel. The break-through technology involves a simple process to a new pair of shoes. A canister of compressed FootFeel chemical sprays onto individual’s feet and turns into a custom, form fitting elastic rubber substance as it dries. The chemical is safe and biodegradable. The cannister is recyclable and contains enough chemical for two pairs of shoes. The shoes have a predicted durability / duration lifetime of about one week. FootFeel has tasked the college interns with gauging consumer interest in this product and potential retail price point. FootFeel has assigned the moniker Soul Team to the intern group.
-The survey will be administered on iPad tablets, through Facebook, at the demo sight. The survey and product page can be “liked” and shared with individual’s network of friends on Facebook. Data collection is saved on the Facebook survey page. Soul Team and FootFeel will have access to the results. The incentive of taking and responding to the survey is a free pair of can-based FootFeel shoes to show-off.