Retail Business Strategy Essay Paper
Finish Line Shoes is a company that is one amongst many competitors among the shoe sale and athletic wear landscape. This vision statement will define and portray how Finish Line sees itself and how Finish Line desires customers and analysts to see them. What shall be defined in this vision statement includes what the business will look like over the next three to five years, the new and emergent strategies that will be employed and the products and services that Finish Line will use and offer to achieve and maintain success. While there is a lot of competition out there, and that competition is two-fold, Finish Line will reign supreme and stand out amongst the other shoe and athletic wear retailers.
One monumental and major part of Finish Line’s long-term strategy is that they will gravitate to the big names in sports so as to ensure that name recognition is there and that Finish Line stocks the shows that are in high-demand. This would currently include names like Tom Brady of the New England Patriots in the NFL, LeBron James of the Cleveland Cavaliers in the NBA and Kevin Durant of the Oklahoma City Thunder, also in the NBA. Even some former stars are still shining brightly with Michael Jordan and his eponymous shoes and other apparel being very in-demand and/or even collectible in nature. In addition, Finish Line is heavy on team names and logos as well as apparel brands that are coveted. The current product pictures on the main Finish Line website focuses on a combination of the three as the current products shown are the 2015 Super Bowl teams, LeBron’s latest shoe, North Face and Adidas. There is also a link that shows upcoming releases (Finish Line, 2015).
New & Emergent Strategies
As far as what Finish Line is starting to do or will be doing in the future, this would include identifying new stars that people are ready to glom onto. Indeed, some stars come of nowhere like Odell Beckham Jr. Of the New York Giants after Victor Cruz fell prey to a leg injury. However, Finish Line needs to be careful to not glom onto the wrong people as was proven by the most recent NBA draft. Andrew Wiggins is doing decent but not great, Jabari Parker is out for the year with a knee injury and Joel Embiid has yet to play a game for the 76 ers. However, stalwarts like Durant and LeBron are still around. However, even that is a crapshoot given that James just change teams and there is a high possibility that Durant will soon be doing the same. However, if timed correctly, this can cause a glut of profits for Finish Line given that people will want to buy the newest team jerseys and the shoes (and other products) that match. The main strategy will be to keep a pulse on the game as well as the crowd and make sure the products people want are there when they are wanted.
Products & Services Offered
There are a ton of existing and coming products that Finish Line can take advantage of or is already taking advantage of. Indeed, in a world where people can play as their favorite superstars in video games as well as wearing their colors and designs, Finish Line can turn into a service that is a true double-threat in that products that are in most demand are in the store but people can order more obscure and regional items online. For example, LeBron jerseys and gear are probably not all that popular in Miami right now given LeBron’s departure. However, there are certainly LeBron fans still there and they should not be abandoned. In short, Finish Line should be a servicer to all people and a smart blend of physical stores and online offerings as well as an adept use of social media will position Finish Line very well for years to come.
Finish Line. (2015, January 20). Everyday sport. It’s how we roll. Retrieved January 20, 2015, from http://www.finishline.com/
MSP. (2015, January 20). Vision Statements. Retrieved January 20, 2015, from http://mystrategicplan.com/resources/vision-statements/#Criteria
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