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Who Are Your Major Competitors Marketing Essay

Paper Type: Free Essay Subject: Marketing
Wordcount: 3380 words Published: 1st Jan 2015

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CROCS has many strengths. This pair of shoes was waterproof and the rubber kept you from slipping. Not only are they cheap, but also they are good for your feet. There are many kinds of different shoes for men, women and children. Each of the employees in their field is doing well, they help each other, co-ordination, mutual encouragement to each other, they follow the company’s goal, thus establishing a strong shoes Kingdom.CROCS also do well in ethics and social responsibilities. CROCS are spending more money on research and development.

The weaknesses also exist. The stock price has an uncertain factor. It is different every day. In spite of their IPO (Initial Public Offering – when the public can first buy shares of a company), some people still don’t want to invest it, which blocks its development.

Driven by increased demand and improvements in the global economy, the production will increase a lot. In 2010, it continued to engage in efforts to consolidate its global warehouse and distribution facilities to maintain a lean cost structure. For 2011, on its ongoing basis, it look to enhance its distribution and logistics network so as to further streamline our supply chain, increase its speed to market and lower costs, which will reduce raw materials as much as possible and to maximize profits.

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CROCS have some competitors: TBL, NKE, DECK and so on. All of these competitors have strong abilities. For example, in NKE’ 2010 annual report, great spirits of innovation and inspiration have been showed. What’s more, NKE got a great development during the year: NKE delivered record profitability. NKE not only pay attention to the quality, but also attach importance to comfort and appearance. Wearing NKE always makes people feel comfortable and sporting.

CROCS do three things to counter the competition. First, CROCS for CROCSliee proprietary material cost of $ 5,200,000 based on the acquisition of control of Canadian companies and patent production, the formation of others can not be imitated and competitive advantage. Second, It has an unusual feeling of comfort. Third, By a large number of stars, celebrities spread the right strategy. CROCS do not blindly indulge in a professional, feature on, while the use of comfort, unique fashion element towards closer. Small and refined, in order to form small but unique core values, have a unique market competitiveness can only solution on the market.

CROCS also do well in ethics and social responsibilities. Since 2007, more than 2.5 million pairs of shoes were distributed to those in need in impoverished areas, as well as those affected by natural disasters in more than 40 countries. Most recently, we donated more than 80,000 pairs of shoes to one of Haiti’s largest medical providers, an organization dedicated to providing healthcare following the country’s devastating earthquake.

To improve itself, CROCS could enhance its distribution and logistics network so as to further streamline our supply chain, increase its speed to market and lower costs. It could stable its stock price, which will increase the investment by public.

CROCS focuses on shoes so much that I don’t think it will enter other areas now.

The competitions are very heavy. The top three companies that are CROCS’s competitors are TBL, NKE and Deck. All of these competitors have strong abilities. Because of the uncertain price of stocks, CROCS can’t get much investment from public.

CROCS promotes various types of online promotion, exchanges and cooperation between industries. It will improve the company itself and the market. And for keeping up with the pace of fashion and improve the function of protecting foot, CROCS are spending more money on research and development. The people in CROCS are all doing well in their field. They help each other, follow the company’s goal so that they will establish a strong shoes Kingdom.

Since the extremely comfortable shoes that seem to have grown fanous at mall kiosks, the attractively challenged. However, over the last few years, CROCS started popping up all over the place. The company continued expansion in the company as they started offering a wider range of styles and products.

CROCS is a famous shoe company. It is based on good faith and based on cooperation. It is also committed to social welfare services. CROCS Company also promotes various types of online promotion, exchanges and cooperation between industries.

I want to work for this company. Because CROCS is a famous and good company. The shoes they made are all very good. Besides the perfect products, the company itself is also very good. CROCS has it own perfect system. I think I can have a good development in this company.

CROCS is not a wise investment. Although this company’s products are all good. However, the stock of this company is not steady.

SECTION 1

CROCS OVERVIEW

Ginny

Class 101

002

In the beautiful autumn of 2002, a pair of special shoes was born. This pair of shoes was waterproof and the rubber kept you from slipping. The company who products the shoes called Crocs. The founder of the company is called George B. Boedecker Jr., a master of free enterprise. He started out working for Dominos, where he owned and operated a whopping 100 franchises throughout North America. In 2002, he left the original company and started the Crocs Company. Soon, Crocs became very popular. Whichever you reason for wearing croc shoes remember that not only are they cheap but good for your feet. In 2003, crocs has set off a wave of popularity swept the world, people around the world into love, into the fashion and fun multi crocs shoes. And then in 2006, George B. Boedecker Jr. left the company.

However, during the time that he was with Crocs, it experienced substantial growth. This growth started when Boedecker took the first 200 pairs of Croc shoes to a boat show in Ft. Lauderdale, and within hours, sold every pair of them. After Boedecker left the company, Crocs started the business on sandals and golf shoes after acquiring Ocean Minded and Bite Footwear in 2007.

(Web: The history of Crocs company: http://www.crocshoesnews.com/the-history-of-croc-shoes/ April 11, 2011)

To December 31, 2010, Crocs company’s 164 retail kiosks in shopping malls and high foot traffic. It is a total of 138 retail stores and 76 outlet stores and 46 online stores. Crocs Company by the Americas, Europe and Asia. Its predecessor was the Western brands, in January 2005 changed its name to Crocs.

The company was founded in 1999; it is in Niwot, headquartered in Colorado, US.

(Web: The introduction of Crocs company: http://finance.yahoo.com/q/pr?s=crox April 23, 2011)

There are two key officers in the Crocs Company now. The CEO of the company now is John McCarvel. He came to the company in 2010. During this time, Mr. McCarvel was instrumental in building the company’s basic infrastructure, global wholesale and direct to consumer channels, as well as lunching Asian business operations. He was also being the Asia president of Crocs from October 2005 to September 2006. In short, he was a very important role in the company, and he made a significant contribution to the company.

The other person is the Executive Vice President, Chief Legal and Administrative Officer. His name is Dan Hart. He joined the company in 2010. He has being responsible for the legal affairs and human resource departments since then. He has a lot of working experience, the company gradually toward globalization,

(Web: Management teams http://company.crocs.com/our-company/management-team/ April 15, 2011)

Crocs Company can go are not easy today. Their task is designed to facilitate a sustainable way of life, while leading the footwear trend. Today, there are marine elements into which the brand- Quality, Authenticity, Responsibility and Community – resonate.

(Web: The Mission Statement of Crocs company: http://company.crocs.com/brands/ocean-minded/ April 19, 2011)

Crocs is based on good faith and based on cooperation. They give each person’s employment opportunities are equal, regardless of race, gender. Each employee is given the treatment and life quality assurance. Quality standards while providing the market with excellent products and excellent personality to create a company.

(Web: The Vision Statement of Crocs: http://company.crocs.com/careers/overview/ April 19, 2011)

Crocs Company is also committed to social welfare services. In the March 29, 2011, Crocs Company announced that it has to send the grave to the children and other organizations, donations to the tsunami and earthquake affected areas. Crocs retail sales to consumers and companies will crocs.com online. These revenues will benefit the Japanese Red Cross.

Crocs Company also promotes various types of online promotion, exchanges and cooperation between industries. It can promote the company itself and the market. Crocs in the future will be more successful.

(Web: The recent status of Crocs company: http://company.crocs.com/news/news-releases April 20, 2011)

SECTION2

Management Summary

Lily

Class101 003

Revenues increased $143.9 million, or 22.3%, during the year ended December 31, 2010 compared to the same period in 2009, due to a 15.8% increase in unit sales and a 6.6% increase in average selling price per pair of shoes, as shown in the table below, both of which were driven by increased demand and improvements in the global economy. During the year ended December 31, 2009, we sold $58.3 million in end of life and impaired products as we disposed of excess and impaired inventory as previously mentioned. The following table sets forth revenue by channel and by region as well as other revenue information for the years ended December 31, 2010 and 2009. And from the above data, we can see Crocs completed its target well in 2011. In its congratulations, we want to see its wider prospects.

(Did your company meet previous goals?)

(http://www.google.com/finance?fstype=ii&q=NASDAQ:CROX

http://finance.yahoo.com/q/sec?s=crox) 28-03-11

Crocs also do well in ethics and social responsibilities. Their rules applied to their employees, including principal executive officer, principal financial officer, and controller. As a global leader in casual footwear, Crocs, Inc. looks out not only for the comfort of our fans, but also for the health and wellbeing of communities in need. Giving back is a strong part of Crocs’ culture, and the Crocs Care program provides a platform for Crocs employees to support organizations that benefit local and global communities alike.

Since 2007, more than 2.5 million pairs of shoes were distributed to those in need in impoverished areas, as well as those affected by natural disasters in more than 40 countries. Most recently, we donated more than 80,000 pairs of shoes to one of Haiti’s largest medical providers, an organization dedicated to providing healthcare following the country’s devastating earthquake.

Crocs have been fighting in the back of mankind, the human sacrifice of the first front.

(Policies on ethics and social responsibilities)

(http://company.crocs.com/our-company/crocs-cares) 08-04-11

For Crocs, it is basically done well in its annual expectation every year. In 2010, it continued to engage in efforts to consolidate its global warehouse and distribution facilities to maintain a lean cost structure For 2011, on its ongoing basis, it look to enhance its distribution and logistics network so as to further streamline our supply chain, increase its speed to market and lower costs. In general, each company’s largest target is to reduce raw materials as much as possible and to maximize profits. Crocs are certainly no exception.

(Discuss the company’s major plans, goals and strategies & Goals in business)

(http://www.faqs.org/sec-filings/110225/Crocs-Inc_10-K/) 20-04-11

In Crocs, its structure consists of chairman, acting chairman, CEO and director, Chief Marketing Officer, EVP and Chief Legal and Administrative Officer, Senior Creative Director, Marketing Manager, Director of Marketing, Director of Finance, Global Director Of marketing, Vice President of Marketing, Information Technology Director, Director of Global Supply Chain Development, Vice President of Marketing and so on.

Each of them in their field is doing well, they help each other, co-ordination, mutual encouragement to each other, they follow the company’s goal, thus establishing a strong shoes Kingdom.

(Describe how your company is structured)

(http://www.hoovers.com/company/Crocs_Inc/ryssxsi-1-1njdap.html) 18-04-11

SECTION3

Product and Marketing Analysis

Potato

Class 101

004

Then let us talk about crocs product marketing analyzes.

Crocs products mainly are shoes, which is used to be one of the most important conditions of light industry. Footwear industry covers a lot of materials and products from different types of men’s, women’s and children’s footwear. It includes produce, design, sell and so on. So, though light industry often less important then heavy industry, it is closer to our life.

(Company’s main industry, http://ec.europa.eu/enterprise/sectors/footwear/index_en.htm

http://company.crocs.com/our-company/about-crocs/ 28-03-11)

In the current, crocs products follow its mission statement: offering lightweight, comfortable, seasonal, soft, non-marking and odor-resistant shoes. Development is surely. Crocs want to produce fashionable, comfortable, environmental shoes which have great qualities. For crocs shoes’ comfort and several lifestyles, crocs are popular around men, women and children. For men and children, crocs have great designers to design shoes suitable for them, like Cheng kue. Crocs are also suitable for women for its fashion and comfort. Surely, children won’t be forgotten. Jibbitz makes children’s crocs colorful and personalize. I love crocs’ fashion and comfort.

(Company’s products in the current and in the future; major target market, http://company.crocs.com/crocs/inside-crocs-mens-footwear-design-with-cheng-kue/

http://company.crocs.com/news-releases/crocs-inc-reports-2010-second-quarter-financial-results/

http://company.crocs.com/brands/you-by-crocs/

http://company.crocs.com/brands/jibbitz/ 28-03-11)

Sometimes, competitors can prompt companies’ sense of competition. Crocs have some competitors: TBL, NKE, DECK and so on. All of these competitors have strong abilities. For example, in NKE’ 2010 annual report, great spirits of innovation and inspiration have been showed. What’s more, NKE got a great development during the year: NKE delivered record profitability. NKE not only pay attention to the quality, but also attach importance to comfort and appearance. Wearing NKE always makes people feel comfortable and sporting. These companies are all great; company should try its best to get developments.

(Major competitors, http://invest.nike.com/phoenix.zhtml?c=100529&p=irol-reportsannual 28-03-11)

Crocs take actions to counter the competition. Trust, teamwork and fun are the base of crocs. Crocs have a good commend of organizing. Crocs give fair chances to every worker. Crocs pay attention to environmental production, comfort, and fashion, simple and create. What’s more, to be more competed, crocs improve their internal control system and leading ability. For example, they have established high standards for partner performance and set clean expectations.

(Actions that the company do to counter the competition, http://company.crocs.com/brands/crocs/

http://company.crocs.com/careers/retail/ 28-03-11)

To keep up with the pace of fashion and improve the function of protecting foot, crocs are spending more money on research and development. All of the expense is $1.8 million, $534000, and $80000 for the years ended 2006, 2005 and 2004. Mainly are selling, general and administrative.

(Company’s investment in research and development, http://www.wikinvest.com/stock/Crocs_(CROX)/Research_Development 28-03-11)

Marketing and promotions are also important. Crocs are delivering some advertising. Moreover, people who in charge will put crocs’ information and promotions. What’s more, online communications will be access to everyone. So crocs advertise online and on TV. In order to increase the selling, crocs may at a discount during quite a while. Moreover, crocs promote their spirits through helping people in areas that are faced with difficulties.

(Marketing and promotions, http://company.crocs.com/news-releases/crocs-inc-appoints-new-chief-marketing-officer/

http://company.crocs.com/brands/ocean-minded/

http://company.crocs.com/our-company/crocs-cares/ 28-03-11)

SECTION4

Financial Information Performance and Analysis

Catherine

Class 101

006

(Now let me show you the 3 latest most recent annual income statements and balance sheets of crocs. In 2008, the net revenue is 721.59. In 2009, there is a decline. The revenue is 645.77. However, in 2010, the sales have increased a lot. It rose to 789.7.The gross income increased from 228.37 in 2008 to 405.00 in 2010.

Income statement (http://www.dailyfinance.com/financials/crocs-inc/crox/nas/income-statement) April4th

About crocs, there are a lot of statistics. Wholesale sales increased 27% to $97.7 million; Retail sales increased 36% to $59.6 million; Internet sales increased 44% to $21.9 million; Americas increased 36% to $94.1 million; Asia increased 24% to $62.4 million; Europe increased 37% to $22.7 million.

Gross profit for the fourth quarter of 2010 increased 43% to $86.3 million, or 48.2% as a percentage of sales, from $60.3 million, or 44.3% of sales in same period last year. Selling, General, & Administrative expenses (including foreign exchange, restructuring, impairment, and charitable contributions) increased 9% to $80.9.

Financialresults (http://www.marketwatch.com/story/crocs-inc-reports-2010-fourth-quarter-and-full-year-financial-results-2011-02-24) April 5th

As far as I’m concerned, the crocs company will earn more and more profit in the long run. Because it has so many branches throughout the world, it can appeal many people. With the increasing sales above, it has a promising future.

Its promising future (I was stating my own opinion) April 6th

As to what happened to the stock prices and why, it is the most popular question. The stock price has an uncertain factor. It is different every day. According to the graph above, we can see that the waves are severe. However, the whole trend is increasing.

Market watches (http://marketwatch.com/investing/stock/crox/charts) April 10th

Peter Lynch said something like this: Crocs – you know the attractively challenged, yet extremely comfortable shoes that seem to have grown famous at mall kiosks. Well, over the last few years I have watched them start popping up all over the place. I saw continued expansion in the company as they started offering a wider range of styles and products. But yet, it never crossed my mind that I should look into investing in these guys. Well, since their IPO (Initial Public Offering – when the public can first buy shares of a company) their shares have gone up 6x what they started at.

We can see clearly that Peter speak highly of crocs, but he has also confirmed his idea that he won’t invest the crocs.

Advisor’s comments (http://christianpf.com/would-peter-lynch-invest-in-crocs/) April 11th

 

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