I. Executive Summary
A.Although competition has been particularly ﬁerce the past few years, Timberland boots has been able to maintain market share and remain a power player in the industry. In order to continue our success, we must continue to provide consumers with the quality of product they have come to expect from our brand, while continuing to innovate new products to fulﬁll their needs. In the next year, we plan to focus on a younger target market, offer more styles, and incorporate more environmentally responsible materials into our products. These recommendations are based on Timberland’s current popularity and market share, with a focus on long-term growth of the brand. II.Mission Statement A.Our mission is to create a quality product for our consumer to allow them to continue to do what they love--enjoy the outdoors. We strive to enhance our products through continued innovation and research, and positively impact communities we serve through a series of outreach programs that focus on preserving the great outdoors and positive self-development.
III.Environmental Analysis1 A.Competitive: National competition in the shoe industry is very ﬁerce. Timberland has consistently been a strong player, with key competitors being L.L. Bean, Columbia, and Wolverine Worldwide. As the competition grows stronger, Timberland continues to be on top by innovating and providing top-quality products at a fair price. B.Economic: The current economic climate has taken a toll on every aspect of business. Although shoes are a pretty basic need, many consumers have strayed from higher-priced brands simply for the fact that they have less money to spend. C.Political: There are currently no political factors inﬂuencing our business environment. D.Legal/Regulatory: There are currently no legal/regulatory inﬂuences in our business environment. E.Technological: The constant evolution of technology allows us to continuously improve our products and our communication with consumers. Online sales currently account for a signiﬁcant portion of our business, whether it be through our own website or online retailers such as Amazon or Zappos 2. Technological advances in materials used to produce Timberland boots have also contibuted to
Timberland Co. (2010). Form 10-K for the ﬁscal year ended December 31, 2010. Retrieved from
"Blond Boots Have More Fun." Retail Info Systems News. Web. 4 Oct. 2011.
our success--better technologies in stability, shock absorption, waterprooﬁng, and even recycling have allowed us to improve our products to better serve the customer. F.Socio-Cultural: Timberland boots have not only been made famous because of their quality, but also because of social trends3. Timberlands have become a pop culture icon of sorts--the brand has been mentioned in rap lyrics and made popular by celebrities. Also, a growing concern about health in society has created a push for more people to get outside and exercise--any many people have found a new hobby in hiking and other outdoor activities. IV.Market Assessment and Analysis A.SWOT Analysis 1.Strengths of our brand include technology, durability, quality, brand name recognition, customization options, and price. a)Technology: Timberland has a team dedicated to developing new footwear technologies. Over the years, this team has developed technology that is used throughout the brand4, including the Smart Comfort system (which allows the footwear to adjust to the size and shape of the foot while walking), and the Green Rubber compound, which contains recycled rubber. These technologies are part of what makes our brand unique and provides our customers with the quality they have come to expect. 3 4
“Retail Info Systems News” Timberland Co., Form 10-K
b)Durability and quality: Timberland boots are made to last--we
thoroughly test each product to ensure that our consumer...