Applied Business Projects (Business Planning,Consumers in the 21st Century,Leadership and Operation Strategy)

Abstract

EcoStride Creations is targeting the growing demand for environmentally and socially responsible athletic footwear in the United Kingdom, especially among the health-conscious members of Generation Z. The influential factors include the growing sustainability trends, technological advancements, and changing consumer demands for comfort and customization in the footwear industry. Focusing on footwear that meets customers' comfort, quality, and environment-friendly manufacturing needs, EcoStride Creations aims to make a significant impact in this market. The pricing strategy will be strategically determined by considering value-based pricing, which considers production costs, market demand, and competitor analysis. This approach seeks to achieve profitability while also maintaining competitiveness. EcoStride anticipates steady growth in sales, highlighting its market relevance and expected consumer acceptance, with revenue streams from footwear sales and new designs. The business anticipates steady sales growth from this new approach, supported by an initial investment of $242,000 allocated toward start-up expenses and assets. For the first three years, annual sales are expected to be $450,000, $600,000, and $700,000, respectively, with footwear sales accounting for the majority of income. The business already exhibits a robust financial standing in its balance sheet and cash flow projections, bolstering its sustainability. With a comprehensive business plan based on market analysis, prudent financial management, and customer-focused strategies, EcoStride Creations is a promising start-up in the UK's sustainable athletic footwear market.