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Fall

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Marketing Feasibility Study

Crocs, Inc. in the Hashemite Kingdom of Jordan


A l e x a n d e r K a h l C h e l s e a H e j n e y R i v e r J a n g d a B i l l y J e s b e r g N i k k i V e l e z

Contents
Executive summary ................................................................................................................................... 3
General Information ................................................................................................................................. 4
History ....................................................................................................................................................... 4
Consumer Target Market and Potential ........................................................................................... 5
Industry and Competition ...................................................................................................................... 6
Retail Environment ......................................................................................................................... 6
Cultural and Social Analysis .................................................................................................................. 8
Profile of a Typical Person in Target .............................................................................................. 10
Company Summary ................................................................................................................................ 11
Technical Feasibility .............................................................................................................................. 12
Manufacturing Capability ............................................................................................................... 12
Channel Structure .............................................................................................................................. 13
Financial Feasibility ............................................................................................................................... 15
Country Economic Analysis ........................................................................................................... 15
Production Cost ................................................................................................................................... 16
Organizational Feasibility ................................................................................................................... 16
Jordans Political and Legal Feasibility ..................................................................................... 16
Company Organization .................................................................................................................... 17
SWOT ............................................................................................................................................................ 18
Conclusion .................................................................................................................................................. 18
Target Market ........................................................................................................................................... 20
Positioning Statement ........................................................................................................................... 20
Plan Objectives ......................................................................................................................................... 20
Marketing Mix Strategies ..................................................................................................................... 21
Product ................................................................................................................................................... 21
Distribution ........................................................................................................................................... 21
Marketing Communication ............................................................................................................ 22
Price ......................................................................................................................................................... 23
Revenue and Expenses ......................................................................................................................... 24
Evaluation Plan ........................................................................................................................................ 25
Works Cited ............................................................................................................................................... 27

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Executive summary
Team Ignite has developed a feasibility study to assess the marketability of Crocs
brand shoes in the Hashemite Kingdom of Jordan. Due to the unique style,
durability, versatility, and comfort of Crocs shoes, we believe that the Hashemite
Kingdom of Jordan is a suitable market for Crocs brand shoes. The target market for
the product includes young females between the ages of 15-29 and there is an
estimated 1 million people within this target market. More specifically those in our
target market are educated, progressive, bi-lingual speaking both Arabic and
English, and non-traditionally dressed Sunni Muslims. Despite their liberal-
mindedness, family and religious obligations are still important to our target.

Initially, Crocs will only introduce one style, the classic Beach clog in the first year.
The Beach will come in 11 colors, including black, white, pearl, khaki, navy, cotton
candy, mango, ruby, sea blue, fuchsia and gold. The introduction of Crocs will only
happen in the city of Amman. The malls in Amman will allow Crocs to create
awareness in the market before being introduced to smaller outlets in the city, and
the rest of the country within the next 5 years.

Crocs will be imported into Jordan through sub distributors operating out of
locations in the Middle East such Beirut, Lebanon. Extensive distribution will not be
necessary in the first year. The initial retailers in Amman will be Sports 4 Ever in the
City Mall, and Shoe Mart, Shoes and Bags and Shoe Avenue in the Mecca Mall.

We recommend a suggested retail price of $40.00 per shoe or 56.30 Jordanian Dinar
(JD). There are three main competitors in the shoe market in Jordan; Nike, who as
an average price of 63.34 JD, Adidas, who has an average price of 49.40 JD and
Reebok, who has an average price of 43.63 JD. We believe that setting a higher price
than our retailers average price will be beneficial to our sales, leading consumers to
believe that we offer a more exclusive and desirable product. With a selling price of
$21.00, we will retain a small profit after covering our expenses and production
costs. We estimate that we will have a net income of $249,000 and a profit margin of
23.71% in the first year.

10% of sales will be allocated to marketing incentives, focusing on online ads on
popular sites and public transportation busses and stations. With our ads
concentrating on colors such as black, cotton candy, fuchsia and gold that will
appeal to our female target market.

With this plan Crocs should be able to increase their market share in the Jordans
footwear market to 5% in the first year by selling 50,000 pairs of shoes and
substantially increasing awareness for the Crocs brand by 100% in the Hashemite
Kingdom of Jordan.


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Part 1
Feasibility Study: Market Analysis
General Information

The Hashemite Kingdom of Jordan is located in Southwest Asia in the heart of the
Middle East. Jordans land is believed to be one of the homes to mankinds earliest
inhabitants, dating back thousands of years. The Arab ethnicity makes up the
majority of the population and the Circassian and Armenian ethnicities each make
up about 1% (World Fact, 2011). The people of Jordan are predominately Sunni
Muslims, over 92% of the population; the remaining population is Christian. Jordan
has an area of 89,342 sq. kilometers, which is comparable to Indiana of the United
States (Hashemite, 2011). Jordan has borders with Syria to the north, Iraq to the
east, Saudi Arabia to the south, and Israel to the west.

The country of Jordan has two very diverse climates from the east to west. The
eastern side of the country is made up of two deserts, the Syrian Desert in the north
and the Ard As Sawwan Desert in the south. On the western side of the country is
the Great Rift Valley, which separates the West and East Banks. The Great Rift Valley
is made up of high mountains, the Jordan River, The Dead Sea and fertile lands
(Hashemite, 2011). The population of Jordan is 6,508,271 (World Fact, 2011). The
climate does play a role in where people live in this country. With the arid desert to
the east and the limited natural water resources, the more populated cities are
located in the western part of this country where more resources are available. The
urban population makes up most of the total population. The largest city in Jordan is
the capital, Amman, with over 1 million people living in this area (Hashemite, 2011).

History

With the fall of the Ottoman Empire in 1921, the Middle Easts country borders were
redrawn and The Hashemite Kingdom of Jordan was born. Jordan did not claim
complete independence as a country until 1946. In 1952 Jordan became a
Constitutional Hereditary Monarchy under King Abdullah II (World Fact, 2011).


Jordan has experienced many increases and decreases in their economy. There is a
strong western influence in Jordan, and joining the World Trade Organization
(WTO) was a big stepping stone for them in 2000. Along with joining the WTO,
Jordan and the United States formed a contract to allow free trade agreements,
opening up doors and creating opportunities for both countries. Jordan also signed
an association agreement with the European Union in 2001 to implement economic
reform. In 2011, the Finance Minister Mohammad Abu Hammour claims Jordans
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economy is projected to have a 5.0% increase from last year (Bloomberg, 2010).
Jordan has a population growth rate of 0.98%, rated 116 among other countries
(Hashemite, 2011). Population growth in the years to come is going to be important
for the Jordan economy to ensure a growing consumer market.

Consumer Target Market and Potential



Jordan has a population of nearly 6.5 million people with the following age
structures:

0-14 years, 35.6% (male 1,174,409/female 1,108,685)
15- 64 years 59.6% (male 1,940,378/female 1,880,747)
65 years and over 4.7% (male 148,916/female 153,950)

The Jordan population is predominately young, as the median age for a male is 21.6
years and the median age for a female is 22.1 years. Additionally, more than half of
Jordans population is below the age of 30. 42.2% are 14 years or younger and
approximately 31.4% fall between 15-29 years of age (UNESCO Institute of
Statistics, 2007.)

Over 1 million people live in Jordans capital, Amman. The urban population makes
up for 78% of the total population of Jordan, with a rate of urbanization of 3.1%
annual rate of change (2005-2010 est.). Subsequently, about 20% of Jordanians
make up for those living in rural areas (Culture Grams, 2011).

Regarding religion, the population is primary composed of Sunni Muslims.
Specifically, 92% of Jordan is Sunni Muslim, 6% Christian (majority Greek Orthodox)
and 2% other (several small Shia Muslim and Druze populations) (World Factbook,
2001 est.).

In Jordan education is free for both primary and secondary school and is required
through the age of 15. An importance on education and higher learning is strongly
reflected in Jordans current and expected attendance rates for school. A recent
study indicates that between 2008 and 2013, the number of Ministry of Education
students is expected to increase by 124,634 (World Bank, 2009).

Additionally, it was reported that between 1997-1998, Jordanian women accounted
for 66.6% of community college students and 44.7% of the university population.
Presently, these figures remain representative of the current female enrollment into
higher education, as females enrollment rates are still higher than the enrollment
rates for males.
Derived from the accumulated statistics above, the target market for Crocs
International in Jordan is educated woman between the ages of 15-29. Of an
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approximate 6,407,085 people in Jordan, 31.4% are between the ages of 15-29. As
there is 1.04 male/female ratio (World Factbook, 2010) it can be estimated that
there are roughly about 1 million in our target market, with a market penetration of
about 55.65% based on those women who are likely to pursue education past the
age of 15. Market penetration was calculated through averaging the two
percentages based on higher education enrollment percentages in the past: 66.6%,
women accounted for in community colleges and 44.7% women enrolled at
university (66.6+44.7/2= 55.65%) Therefore, 55.65% of our 1 million projected
target market size justifies the absolute number in our target to be around 556,500.

Industry and Competition



The footwear industry in Jordan is much like that in the US and other first-world
countries. The competition is very high and most of the large footwear brands such
as Adidas, Reebok, and Nike have a presence in the country. However, as in any
industry, there is always room for more competition, especially from a creative and
cutting edge company that brings innovation to the footwear market, as Crocs has
done. The retail sector in the Middle East has been booming and will continue to
grow, and is estimated to reach $682 billion by 2013 (Saudi Gazette 2011). As
Jordan becomes more modernized every day, American brands continue to see
success with the population, especially with the middle and upper classes. Because
of Crocs unique brand image, combined with the success they have had in the US
and other markets, there is sure to be a demand in Jordan. Crocs has a huge variety
of unique products that could be offered in the country, targeting educated women
ages 15-29.

The Crocs brand has seen success since entering other Middle Eastern markets over
the past few years, including the U.A.E, Bahrain, Kuwait, Lebanon and Qatar.
Revenues from Crocs Asian segment, which includes the Middle East, constituted
36.1% of total revenues for the year ending December 31st, 2010 (Nasdaq).

Retail Environment

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The largest distribution channels for


footwear in Jordan are malls,
especially in the larger cities like
Amman. Amman has many malls
where shoes are sold at retailers like
Shoe Mart, Max, Zara and Aldo.
There are many large retail groups
that currently do business Jordan,
most of which sell private label

brands. The private label brands would compete directly with the Crocs brand,
whether Crocs are sold in footwear stores or in official Crocs stores. The three major
retail groups doing business in Jordan are Landmark Group, Inditex and Aldo Group.

Landmark Group was founded in 1973 in Bahrain and has grown to be one of the
largest retail groups in the Middle East. They now operate over 1000 outlets in 15
countries, including 11 stores in Jordan. In terms of footwear, Landmark operates
five different stores in Jordan that sell shoes. These five are Max, Shoe Mart, Splash,
Babyshop and Lifestyle. Shoe Mart, Splash, Babyshop and Lifestyle are all part of
Centrepoint, an all in one shopping destination located in malls that sells clothing
and shoes to all demographics.

According to Matthew Simon, manager of Landmark Jordan PSC Limited, the
company has plans to expand in Jordan in the future, especially with the Shoe Mart
brand, which only has one location in Jordan currently. Shoe Mart is the largest
footwear and accessories retail chain in the Middle East, and offers a range of
affordable, world-class brands for men, women and children (Landmark Group).
Top brands such as Sketchers, Adidas, Reebok, Clarks, Nike, Converse and
Timberland can be found at the Shoe Mart in Amman.

Max is Landmarks value fashion retailer, operating 114 stores in the Middle East
with two locations in Amman. Max offers fashion and footwear at value pricing with
a target market of middle class Jordanians. Unlike Shoe Mart, however, Max sells
only private label products made specifically for the Max brand. This makes Max a
direct competitor to the Crocs footwear brand in Jordan.

Another huge retail group in Jordan is Inditex, founded in 1975 in Spain. Indexite
operates over 5000 stores in 77 countries and 13 stores in Jordan specifically. These
stores include Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara
Home, and Uterque. All of Inditexs stores sell private label brands, and every store
except Oysho and Zara Home sell shoes of their own that cater to our target market,
making them direct competitors. The Aldo group operates three Aldo outlets in
Jordan. Aldo is another private label brand that is popular in Jordan, selling a wide
variety of styles of womens shoes.

According to Matthew Simon, other than these private label brands, other major
retail competition in the footwear market comes from unorganized retail, and
smaller retailers that may be independently owned. In terms of brand competition,
Crocs would be competing with most of the same brands they compete with in the
rest of the world. According to Nasdaq, competitors include Nike, Kenneth Cole, K-
Swiss, Sketchers, Steve Madden and others. Other worldwide brands, such as
Adidas, have a large presence in country already. Adidas has nine official Adidas
shops in Amman alone. These brands and thousands more are already offered in
Jordan, making the shoe market very competitive.

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For Crocs, the best distribution channels as far as selling in retail outlets would be
the various clothing and footwear stores in the malls of Amman and Aqaba,
including City Mall, Mecca Mall, Abdoun Mall, Amman Mall, Plaza Mall, and the
Aqaba City Centre in Aqaba. Footwear retailers in these malls that dont sell private
label brands would be ideal for Crocs, including Shoe Mart, Sports 4ever and Shoe
Avenue. Official Crocs retail stores and outlet stores should also see success just like
Adidas, in these malls and new ones as they are built in the future.

Cultural and Social Analysis



Founded on top of the original holy land, Jordan is a country rich in both tradition
and religion. Over 92% of the country is Sunni Muslim, although the country is open
to religious freedom. There are occasions of hostility towards members of less
common religions such as Christianity and other religions. Christianity studies are
offered in most schools, but are not required. Jordan has the lowest percentage of
people regularly attending religious services for an Arab country. This could be due
to many reasons such as; a strong western influence, or the number of people that
live outside of urban cities and have little access to worship institutions.

Arabic is the official language of Jordan and the most widely spoken, but English is
very popular. English is taught in most schools, elementary through middle school.
English is seen as the language of business and education. When in a business
situation English is spoken but sometimes Arabic is as well. It is acceptable to make
small talk in either language as long as religion and politics are not in the
conversation.

The citizens of Jordan have grown accustom to a high standard of living. They view
expensive items as a sign of status. The strong western influence, especially in the
capital city of Amman makes people strive for more luxuries. Jordan is considered to
be the richest of all the Arab countries that do not deal heavily in oil.

In Jordan lunch is the most important meal, as it is the time that most of the family
can be together. A short prayer is said before every meal and it is custom to serve
the guests first. Everybody eats from a common platter, with his or her right hand. It
is an accepted custom to leave a small amount of food on your plate, to show you are
full.

The national dish of Jordan is mansaf, which is large tray of rice covered stewed
lamb served with jameed, a yogurt sauce. Another popular Jordanian dish is
Hummus, which is mostly eaten with falafels. The most popular forms of protein are
lamb and chicken as they are the most accessible. Pork and alcohol are banned in
the Muslim religion. Jordanian citizens are also very fond of locally grown
vegetables, which can be anything from tomatoes to eggplants.
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Most of the traditional Muslim holidays are celebrated in Jordan such as Ramadan,
Eid al-Adha, and Mawlid al-Nebi. Jordan also celebrates some of its own national
holidays like Arab Revolt and Army Day, King Hussein's Accession to the Throne and
King Hussein's Birthday. Jordan has made a strong effort to enrich its own culture
and promote people to become active in their own countries history.

Education is a top priority in Jordan. All children attend elementary education,
making the illiteracy rate of 6.9% the lowest of all Arab countries. Jordan has raised
its secondary education rate to 97%, which is extremely high for an Arab country.
Jordan also has a program of secondary education where students can continue with
more of a traditional education or they can go to vocational school for two years to
be skilled in a more specific trade. Jordan also has 10 public universities and 16
private universities. 76.3% of females who enroll in upper secondary education
graduate (UNESCO institute for Statistics).

Jordanians love sports and art. Football (soccer) is by far their favorite sport. They
have their own league similar to Americas MLS or Englands Premier league, which
sees growth every year as teams continue to improve. Jordan is also starting to get
some national attention. In 2004 they reached a ranking of 37th in the FIFA world
rankings. Basketball is gaining attention and more money is being invested in it. Art
and music in Jordan are other examples of how well the country is thriving. King
Abdullah II ordered government workers to have Fridays and Saturdays off so they
can dedicate more time to art and cultural festivals. While traditional art and music
are still quite popular, folk art is the growing trend with Jordans youth. Everything
from death metal to electronic trance music is popular with todays youth. A
possible successful marketing strategy for the youth of Jordan could involve an
alternative form of music.

Family life in Jordan is very important, but it is also very different from America. For
instance men completely control the family. They have all the say and can tell their
wives to do anything they choose. Men are also allowed to take on multiple wives,
but it is not completely socially accepted. Also divorces are starting to become more
common, but men almost always get custody of the children, so many women are
reluctant to file for one. Women in Jordan are fighting for more rights. They obtain
jobs and hold higher positions in the community. Women can be judged for breaking
the norm and not wearing traditional dress, but its less common these days. The
men still want to control the women and are fighting their rebellion, but losing.

Age and gender play a very strong role in the social life of Jordan. As people get
older they become much more respected and get to have more of say in how things
are done, especially within ones own family. Also the segregation of men and
women is starting to diminish, but there are many Jordanians who believe men to be
superior to women. Up until the late 1980s children were supposed to listen to
their parents until they were married. Many children were being forced into
arranged marriages that they didnt necessarily want. Recently this is beginning to
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change as more kids are going out on their town for college or to start their own
careers. Less and less arranged marriages are happening every year.

Jordan is considered a high context culture because the traditions and culture of a
society can have a huge impact on how business is conducted. Business practices in
Jordan are relatively laid back. Meetings can often start late or not happen at all and
no one is concerned. But as a visitor to the country you must be at all meetings on
time, it is only acceptable for the counterpart to be late or not show up. Offense must
not be taken if a meeting does not happen or is interrupted. It is common practice
to shake someones hand when you are introduced, although be aware that some
women will still not shake hands with men. Public displays of affections are not very
welcome in Jordan and people should probably refrain if they can. Men and women
are even still sometime separated for meals. Also it is common practice in Jordan to
smoke argeeleh (hookah) prior and post meals. When eating try not to touch
anything with your left hand as that is still considered being dirty and unclean. It is
not disrespectful to leave food on ones plate, so feel free to pass on anything that
does not look appetizing. Also be aware many Jordanians do not drink alcohol, so do
not expect any when going to a meal. Business dress can be casual, but it is still best
for both men and women to dress modestly. Men should dress in full suits and ties
in more traditional colors. Women should dress in conservative dresses or suits as
well.

Profile of a Typical Person in Target



Crocs target consumer profile, Amira, is
described with the following psychological
and social attributes:


Amira
22 year old Jordanian Arabian female

with no children
Sunni Muslim
Dressing primarily in western attire
Lives in the capital city of Amman
Speaks both Arabic and English

fluently
Recipient of higher education at

University level
Enjoys watching movies with friends

in leisure time
Greatest values in life include her

religion, family and education


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Part 2
Feasibility Study:
Technical, Financial, & Organizational Analysis
Company Summary

Crocs shoes are those ugly pieces of fashion that people cannot get enough of. They
create a love hate relationship with consumers. If the market can overcome the ugly
factor they will soon come to love the lightweight comfort that is unique to Crocs.
Crocs uses the ugly factor to their advantage in their advertising such as the Crocs
Make Me Angry commercial. The ugly factor has gathered the attention from
celebrities, thus making them cool and fashion ugly.

The Crocs brand was founded off the idea of lightweight breathable shoes that are
worn on sailboats and for other outdoor activities. Originally the idea came from a
sailing shoe made out of a reactive resin that is lighter than rubber, forms to the
foot, and absorbs little odor, manufactured by Foam Creations through Western
Brands. The three founders of Crocs, George B. Boedecker Jr., Lyndon V. Hanson III,
and Scott Seamans were young entrepreneurs in Boulder Colorado. Once they knew
the Foam Creations process worked, they trademarked the process and material,
naming it Croslite, and Crocs where born. Seamans tweaked the design of the shoe
while Boedecker took over as chief executive officer and lined up some small
investors to start up the company. Hanson set up most of the operation and oversaw
the day-to-day operation of the company. They settled on Crocs for the name as an
abbreviation of crocodile. The attributes of a crocodile fit the attributes of the
product: comfortable both on land and water, durable, and long lasting.

The Crocs original clog model, The Beach made its debut in November 2002 at the
Ft. Lauderdale International Boat Show. The company came to the event with 1,000
pairs and sold out. In March of 2003 at the Shoe Market of the Americas, the clogs
made their first debut at a shoe convention. They were surprisingly well accepted by
the retailers and the brand grew rapidly with many new partnerships.

The shoes intended market was the active community, the ones who are interested
in outdoor sports. But soon after the release to the public market the consumers
defined new markets. Research in early sales showed consumers using Crocs for
occupational purposes, specifically jobs that require people to be on their feet all
day such as restaurant workers and hospital employees. They became popular
because of their comfort, price, and ease of cleaning. The baby boomer generation,
with swollen feet and fallen arches, liked the way Crocs felt on hardwood floors.
Middle school trendsetters liked the bright colors. Children liked the tradable back
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straps.

During their first full year on the market, 76,000 pairs of Crocs were sold,
generating $1.2 million in sales. Just one year later, Western Brands sold 649,000
pairs, resulting in revenues of $12.3 million. In 2006, Crocs became a publicly traded
company with a share price of $13 to $15 with 9.9 million shares to be sold. Soon
after the stock was placed on the NASDAQ, the share price quickly increased by over
50%. With the companys rapid growth they were able to open in new markets in
other countries and release new products. The company now maintains
manufacturing facilities in Canada, Italy, Mexico, and China. In addition to the United
States, Crocs are sold in more than 40 countries. Their products are available
through many distribution channels like traditional footwear retailers, sporting
goods and outdoor retailers, department stores, uniform suppliers, specialty food
retailers, gift shops, health and beauty stores, and catalogs. The company also sells
the shoes on its web site and in kiosks located in places with heavy foot traffic.

Technical Feasibility
Manufacturing Capability

There are two options when deciding where to manufacture Crocs for Jordan:

1.
Use a manufacturing plant in Jordan and manufacture in the country
2.
Use existing manufactures in Canada, Italy, Mexico or China

1.
To manufacture Crocs in Jordan, there are many expenses to think about. The
first cost is acquiring a building to manufacture the shoes, probably in Amman.
Average industrial buildings in Amman costs $68-$368 per square meter (Jordan
Investment Board). A modest building that includes factory floor space, offices, and
storage space would be around 1000 square meters and would cost anywhere from
$68,000 to $368,000 just for the building.

Other costs would include manufacturing equipment, utilities, labor and training
costs. All of these expenses combined would be immense compared to using the
factories already established in China. With a target market size of 556,500, and an
estimated adoption rate of 10%, our potential market is only around 50,000. With
this market, the factory costs would be hard to justify. Even if the factory were
producing enough shoes for Jordan and neighboring Arab countries, it would still
not be enough to get a return on the investment. Crocs would be losing money until
the brand became popular enough to sell as many shoes as would be necessary to
break even.

2.
The other option would be to use the same factories in China or Italy that are
being used to create most of the Crocs for the world currently. A new factory would
not have to be built to handle the Jordan market; output would simply just be
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increased at the current factories. This would save money because a huge new
investment would not have to be made, and assuming the current factories can
handle the small increase in production, there would be no new fixed costs. The only
costs associated with manufacturing the Crocs for Jordan would be the variable
costs that go into making the shoes and shipping.

Channel Structure

There are three options when deciding how to distribute and sell Crocs in Jordan:

1.
Import semi knockdown (SKD) or complete knockdown (CKD) kits from
China or Italy and finish the assembly of Crocs in Jordan
2.
Use entrepreneurs to buy Crocs on their own in the grey market and bring
into the country and sell however they please
3.
Use sub distributors from nearby countries to import Crocs and sell in third
party shoe and apparel stores

1.
One option in terms of distributing Crocs in Jordan would be to import a semi
knockdown kit or a complete knockdown kit and have the products final assembly
done in the country. An SKD or CKD is basically just a kit containing all the different
pieces of a product. The pieces would probably be manufactured in China, packaged
into a kit and then imported into Jordan. The advantage of SKD and CKD is that
Crocs avoids some of the steep import duties and fees that would be placed on each
shoe if they were imported into the country fully assembled. A duty of around $3.00
is tagged onto each Croc that is imported into Jordan; so avoiding this saves a lot of
money (David Chapman, International Sales Manager, Crocs ME).

Even though money is saved on import duties, there would be much more expenses
devoted to overhead and labor for the kits to be assembled into final products.
Labor costs are much higher in Jordan than they are in China, and although the
manufacturing has already been done, the cost of simply assembling the shoes in
Jordan by hiring Jordanians would outweigh the savings incurred by avoiding a
majority the import duties.

2.
Another option would be to utilize a private business or entrepreneurial
individual who would buy Crocs in bulk and then sell them in Jordan. Basically,
Crocs would sell a large inventory of shoes to a private entity not associated with
the company and have them sell the shoes in the country however they like. This is
called the grey market. These shoes could be sold in small mom and pop shops,
street vendors, or footwear and apparel chains in the malls of Amman. This channel
is appealing because Crocs does not invest any money at all in the venture. We do
not have to actually worry about selling the shoes to the consumer. On the other
hand, though, all control of the product and brand image is lost. Crocs has a unique
brand image and position in the eyes of consumers around the world, and by selling
to an individual or company that has no affiliation and complete control of the
product might not be ideal for Crocs.
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3.
The third option is to use sub distributors who are credible and reliable to
import products into the country and sell at third party stores such as Shoe Mart
and Sports 4 Ever in Amman malls. Sub distributors would be based out of
neighboring countries such as Israel, Lebanon, Syria or Saudi Arabia. By using sub
distributors, Crocs can be assured that the shoes will be sold in stores that are
trustworthy and uphold the brand image that Crocs has developed because Crocs
will have agreements with them. This also eliminates overhead and labor costs
because the products will still be manufactured in China. The only disadvantage is
that in order for these sub distributors to import the shoes into Jordan and get them
into stores, Crocs will have to sell them at a discount with a very small profit margin.
The goal with this distribution strategy would be to slowly make the Crocs brand
popular in Jordan without losing control of the products, eventually creating enough
demand to open official Crocs stores in the future.

There are also three different options when considering where to sell Crocs in
Jordan:

1.
Official Crocs stores owned by Crocs
2.
Official Crocs franchise stores owned by franchisees
3.
Shoe and apparel stores that sell many brands in large malls

1.
First, Crocs could be sold through official Crocs stores. Currently, there are no
official Crocs stores in Jordan, so these would have to either be built from the
ground up, or remodeled from existing retail space. The stores would then have to
be staffed, stocked and marketed to be successful. The costs associated with official
Crocs stores would be significant.

2.
Alternatively, Crocs could franchise stores to individual entrepreneurs in
Jordan, and they would be responsible for opening them. Crocs would license the
brand along with official marketing materials, products, etc. to the franchisee. This
option would allow Crocs to have official brand outlets without any fixed or variable
costs. Currently, there is not enough demand in Jordan to make it financially feasible
for a franchise to be profitable, but it could be a possibility in the future after the
brand has grown in the country.

3.
The third strategy would be to sell Crocs in retail outlets not officially
associated with the brand. These include footwear and retail outlets like Sports 4
Ever and Shoe Mart. These outlets are similar to stores in the US like Footlocker and
Sports Authority that sell many different footwear brands. Contract agreements
would have to be made with these outlets in order for them to sell Crocs. These
retail outlets are located in retail malls in Amman, specified in Part 1. Using third
party retailers would eliminate many of the costs associated with opening official
Crocs outlets, and could be a very attractive temporary strategy until it makes sense
to open official outlets.
14 | P a g e

Financial Feasibility

Country Economic Analysis



Jordan is a small country, but growing in its economic size. It is slowly moving
towards a more western economy, with large opportunities for new companies to
open up in the market. It is considered to be an emerging knowledge economy. In
2010, its GDP was $34.5 billion, putting it right in the middle of most countries at
103 out of 227. The GDP per capita is only $5,400, but considered an upper middle-
income country by the World Bank (Central Intelligence Agency, 2011).

Jordan has a very diverse economy. From the large western style city of Amman to
the farmers living in rural areas of the country, there is quite a difference. As the
rate of urbanization continues to improve, the economy will continue to shift and
the per capita GDP will continue to rise. Right now 14.2% of the country is below the
poverty line and the official unemployment rate is 12.5%, although the unofficial
rate is around 30%. The rate has gone down 3.39% in the last year (Central
Intelligence Agency, 2011).

Jordans currency is the Jordanian Dinar (JD). It was introduced in 1949 as a
replacement for the Palestinian Pound. When it was first introduced it only had the
denominations written in Arabic, but in 1992 they started putting English
denominations on bills. The exchange rate has stayed at a consistent .7105 to the US
Dollar (Central Intelligence Agency, 2011).

Jordan has many Free trade Agreements including agreements with the United
States, Canada, Singapore, Malaysia, the European Union, Tunisia, Algeria, Libya,
Turkey and Syria. They are also continuing to open up to more agreements. Jordan
is a member of the Greater Arab Free Trade Agreement, the Euro-Mediterranean
Free Trade Agreement, the Agadir Agreement, and does lots of work with the WTO
and EU (Central Intelligence Agency, 2011).

Jordan imported $15.26 million worth of goods in 2010. This is up from $14.24
million in 2009 (FITA, 2011). Most of Jordans imports come from Saudi Arabia
(19.8%), after that is China (10.8%), Germany (6.1%), US (5.6%), Egypt (4.5%), and
South Korea (4.2%). The reason that Saudi Arabia is the largest import partner is
because of their need for crude oil. Other high import items are machinery,
transport equipment, iron and cereals. Imports are suspect to a tariff of up to 30%,
although most consumer goods are less than 20% (Central Intelligence Agency,
OTEXA, 2011).

Jordan exported $7.02 million in 2010, which is also up from 2009s amount of
$6.37 million. Its best partner for exporting is the US (15.6%), followed by Iraq
(15.4%), India (13.2%), Saudi Arabia (10.6%), UAE (4.3%), and Syria (4%).

15 | P a g e

Production Cost

With an estimated target market size of 556,500, and a market adoption rate of
10%, production for Crocs in Jordan would be approximately 50,000 units. With the
cost of producing Crocs now at $10 per shoe, the initial production cost would be
$500,000 just to make the new shoes (Crocs Inc., 2011). All items entering Jordan
are suspect to up to a 30% import tariff and a 16% value added tax. With Crocs most
likely having a 15% tariff that puts the production cost up to $655,000. Distribution
costs are approximately $41,000 to ship 13 40 steel containers containing 50,000
pairs of shoes from the Port of Shanghai, China to the Port of Beirut, Lebanon
(Maersk Line, 2011). This puts the total production costs at $696,000. Crocs could
easily increase their production in China without having to raise capital through
equity or debt offerings because sub distributors would quickly buy inventory. An
increase of production would also likely bring the production cost per item down
(Austrade, 2011).

Facilitation payments, grease payments and bribes are not allowed and are
considered illegal in Jordan. Doing so is not considered good business practice in
Jordan. Jordan businesses put a high value on traditions and continue those
practices when conduction international business (Thomson Reuters Foundation,
2011).

Organizational Feasibility

Jordans Political and Legal Feasibility


Jordan is considered a constitutional monarchy. Their Legislative power is vested in


a bicameral National Assembly. Their National Assembly is made up of a 55 member
Senate (House of Notables) and a 120 member House of Representatives (House of
Deputies). Executive power is vested in their king, Abdullah II, and his council
members.

Jordan, a founding member of the League of Arab States, also participates in the
Council of Arab Economic Unity, the Arab Monetary Fund, and is a member of the
Organization of the Islamic Conference (OIC). Whats more, since 1995 Jordan has
been an official member of the UN and since 2000 they have been a part of the
World Trade Organization (WTO). One year after joining the WTO, Jordan entered
the U.S.-Jordan Free Trade Agreement. Jordans agreement with the US encouraged
further economic reform (Jordan Investment Board).

Jordan has close relations with both the US and the UK, as they have been a major
non-NATO (North Atlantic Treaty Organization) ally of the US since 1996 (Jordan
Investment Board). However, relations were damaged during the first Gulf War but
since have been restored. Jordan is very much known as a mediator, a country with
16 | P a g e

a reputation for usually following a non-confrontational foreign policy, which has


resulted in good relations with their neighbors.

As a member of the WTO, Jordan thereby follows the laws consistent with that
agreement regarding Trade-Related Aspects of Intellectual Property Rights (TRIPS).
The agreement protects trade secrets, plant varieties and semi-conductor chip
designs in Jordan. Registration of patients, trademarks and copyrights is required.
As part of Jordans Ministry of Industry and Trade, copyrights must be registered at
the National Library and patents require registration with the Register of Patents
and Trademarks (Jordan Investment Board).

According to the Jordan Investment Board website, Jordan has signed the Patent
Cooperation Treaty and the protocol relating to the Madrid Agreement concerning
the registration of marks, but ratification was still pending in early 2005. Jordan has
also acceded to the World Intellectual Property Organization (WIPO) treaties on
copyrights (WCT) and performances and phonograms (WPPT).

The below table shows Jordans currently instated Intellectual Property laws.

Table 1 ( Jordan Investment Board )
IP laws in Jordan
Patent Law No. 32 of 1999 and its amendments.

The Law of Unfair Competition and Trade Secrets No. 15


of 2000

Trademarks law No. 33 of 1952 and its amendments.

The Geographical Indications Law No. 8 of 2000.

The Protection of layout designs of Integrated Circuits No.


10 of 2000

Copyright Law No 22 of 1992 and its Amendments

The Industrial Designs and Models Law No. 14 of 2000

The Protection of New varieties of Plants Law No. 24 of


2000

Goods Marks Law No. 19 of 1953

Trade Names Law No. 22 of 2003

Company Organization

After talking to David Chapman, International Sales Manager for Crocs Middle East
(based in Dubai, UAE) he was able to give great insight on the feasibility of Crocs
entry into Jordan. In terms of overall feasibility, Mr. Chapman said, due to the
dynamics of that (footwear) market, Jordan has been, and continues to be, a very
difficult market from a brand perspective. The main reason appears to be the
prohibitive import duties, starting at around USD $3.00 per shoe, plus a whole raft
of other additional direct and indirect taxes that result in very high retail prices.
Based on the number of enquiries he receives about Jordan, however, Mr. Chapman
said there is evidence of a growing demand for Crocs.

Based on Chapmans experience and recommendations and our research, a business
structure using sub distributors is the most feasible action to take for Crocs to have
17 | P a g e

a successful entry into Jordan. As it is extremely costly for Crocs to invest their own
money and resources into opening up new stores, the more economically cautious
and practical option is to rely on third party sub distributors to import into the
country. The sub distributors get special pricing to allow them to make a small
margin on the shoes while investing in Crocs sales in Jordan. Using sub distributors
from neighboring countries, Crocs will be saving on initial startup, overhead and
labor costs. These middlemen will do all of the dirty work of importing while
making a small profit. Even though that doesnt allow Crocs to make a huge profit in
the Jordan market, the point would be to increase awareness, popularity, and
market share. Eventually, this will lead to Crocs opening franchise outlets in Amman
and increasing business activity in Jordan from there.

SWOT

Strengths
Weaknesses

Patented CrosLite Technology

No manufacturing facilities in

Low cost manufacturing facility in


Middle East
China

Under developed distribution

Strong alliances with popular


chain in Middle East
retailers worldwide

Small target market

Competitive prices

Low estimated product adoption

Extensive customer base


rate

Strong brand reputation


High quality products and



services

Development innovation

Opportunities
Threats

Changes in technology

Life style changes

Change in market growth

Demographic changes

Growing economy

High import duties taxes and fees

New product opportunities


in Jordan

Online market growth

Rise and fall of foreign exchange

Rising per capita GDP in Jordan

Competitors products

Growing demand for western

Low per capita GDP in Jordan


style and products in Jordan

Conclusion

The popularity of Crocs in the Asian region, which includes the Middle East, has
grown substantially in the last year. There was a 40.6% increase in revenue streams,
which is about $111.2 million from September 2010 to 2011 (Crocs Inc., 2011). The
18 | P a g e

Jordan market will offer many opportunities for Crocs because of the Jordanians
strong western influence in clothing and culture. The Crocs brand has a strong
reputation that has potential to grow due to the quality products and new
innovations in style and performance in the shoe industry. The Crocs shoe is also
very unique in look and design, which allows consumers to recognize the brand very
easily.

There are some weaknesses in the Jordan economy that will prove to be difficult
when entering this product into their market. Jordanians have very extensive
monetary regulations on the imports in their country that include high taxes, import
duties, and fees. Also another obstacle will be pricing the product at an affordable
price for both the company and the consumer. With the regulations and the low per
capita income, setting a price will be crucial.

However, despite the potential threats and weaknesses that Crocs will have entering
into the Jordanian market, we recommend that Crocs enter the market. The rapid
growth in the Middle East region and the strong brand recognition that Crocs has
already established in surrounding countries, combined with the amount of
inquiries we receive about Jordan specifically, we believe the potential revenues for
Crocs will prove substantial. It is feasible for Crocs to enter into the market and
begin to retain market share. The goal for now is to enter the market and become
sustainable, and then move towards becoming profitable.





19 | P a g e

Part 3
Marketing Plan
Target Market
Our target market, consisting of educated Jordanian women between the ages of 15-29,
has a projected size of 556,500. Those in our target market are more than just
educated, they are progressive, bi-lingual speaking (Arabic and English) and non-
traditionally dressed Sunni Muslims, breaking through their countrys more widely
accepted traditional mold. Despite their liberal-mindedness, family and religious
obligations are still very much important to our target.

Positioning Statement
As Jordans demand for western style increases, entering into the country we will
market Crocs as an affordable, yet high quality, fashion-forward and brand-smart shoe.

Plan Objectives
Based on the current market potential and the research we have done, the following are
three objectives we have for Crocs entering into Jordan in the first year:

Objective 1:
To increase Crocs market share to 5% of Jordans total footwear market in the first
year.

Objective 2:
To sell 50,000 pairs of Crocs shoes within the first year.

Objective 3:
To substantially increase awareness for the Crocs brand by 100%.

20 | P a g e

Marketing Mix Strategies


Product


About Crocs, Inc.
A world leader in innovative casual
footwear for men, women and children,
Crocs, Inc. (NASDAQ: CROX), offers
several distinct shoe collections with
more than 120 styles to suit every
lifestyle. As lighthearted as they are
lightweight, Crocs footwear provides
profound comfort and support for any
occasion and every season. All Crocs
branded shoes feature Croslite
material, a proprietary, revolutionary
technology that produces soft, non-
marking, and odor-resistant shoes that
conform to your feet.

Crocs products are sold in 129
countries. Every day, millions of Crocs
shoe lovers around the world enjoy the
exceptional form, function, versatility and feel-good qualities of these shoes while at
work, school and play.

Crocs competitive advantage comes from the patented Croslite material, which
allows the company to make a lightweight, but durable shoe that is non-marking,
odor resistant and stylish. Crocs clogs are wildly popular around the world, worn by
American celebrities, kids, moms, outdoor enthusiasts and professionals. While
Crocs has successfully brought the benefits of their shoes to 129 countries, Jordan
has been left out. By bringing Crocs to Jordan, Jordanians will finally be able to see
what they have been missing out on.

The products do not have to be specifically adapted to the Jordanian market,
because the same shoes continue to be popular worldwide, and there is nothing
significantly unique to Jordan to warrant a new style specially for the country. In
terms of branding, labeling and packaging, everything is already in place because of
Crocs current operation in U.A.E. and other parts of the Middle East.

Distribution


Crocs will only introduce one style, the classic Beach clog in the first year. The
Beach will come in 11 colors, including black, white, pearl, khaki, navy, cotton candy,
21 | P a g e

mango, ruby, sea blue, fuchsia and gold. After the first year, depending on the
success of the initial launch style, more womens shoes and styles will be added to
the market. In the next five years, we foresee adding mens and childrens shoes, as
well as the CrocsRX line. The CrocsRX line was created with the relief of foot
patients in mind. These shoes are targeted towards diabetic patients and medical
professions, but have also gained in popularity with professionals that are on their
feet all day long.

Crocs are manufactured in Shandong, China
and then transported in containers by truck to
the Port of Shanghai. From Shanghai the shoes
are put on Maersk Line shipping barges and
shipped by sea to the Port of Beirut in Lebanon.
They will be shipped FOB destination, so the
sub distributor will purchase the shipment and
take liability for the products as soon as they
come off the ship.

Crocs will be imported into Jordan through the
sub distributors operating out of locations in
the Middle East such Beirut, Lebanon.
Extensive distribution will not be necessary in the first year. Partnerships with
prominent retailers in Amman malls will allow Crocs to create awareness in the
market before being introduced to many smaller outlets across Amman, and then
the rest of the country in the next five years. The initial retailers in Amman will be
Sports 4 Ever in the City Mall, and Shoe Mart, Shoes and Bags and Shoe Avenue in
the Mecca Mall (the Mecca Mall is very large and has many footwear outlets).

Marketing Communication

The Middle East is currently undergoing a change in attitude toward digital
marketing. With an increased acceptance toward web communications and
commerce, one form of marketing communication that we plan to use for Crocs is
marketing online through banner ads on several popular websites that our target
frequents.

Another way in which we plan to advertise Crocs will be through bus and
transportation print displays. Public transportation is used by about 30% of the
population; therefore, advertising in public transportation vehicles should prove
effective in reaching a great number of our target market. Also, advertisements at
bus stops and on bus benches in Amman will not only be seen by those using the
busses, but also those walking by.

22 | P a g e

The message that will be


portrayed in both our online
and print advertisements is
that Crocs is a fun,
dependable, alternative shoe
brand-- this message is vastly
adapted from Crocs brand
message in the United States.
For our progressive and
forward-thinking target
market, a shoe that is unique
in style and different from the
traditional shoe will be
appealing and catch their
interest. We will further appeal to Jordanians in our target by showing in our
advertisements products in colors that are viewed as more attractive to women;
colors like black, cotton candy, fuchsia and gold. We will dedicate 10% of our sales
revenue to marketing efforts, approximately $105,000.

Price

The price of Crocs in the Jordanian market will be based on our cost to produce each
pair with an added 50% markup per pair. We have a production cost of $10 per pair
of shoes, with a $3.10 import tax, and shipping costs of .82 cents per pair. This
determines a sale price to distributors of $21.00 per pair of shoes. We recommend a
suggested retail price of $40.00 per shoe or 56.30 Jordanian Dinar (JD).

There are three main competitors in the shoe market in Jordan; Nike, who as an
average price of 63.34 JD, Adidas, who has an average price of 49.40 JD and Reebok,
who has an average price of 43.63 JD. We believe that setting a higher price than our
retailers average price will be beneficial to our sales, leading consumers to believe
that we offer a more exclusive and desirable product. With a selling price of $21.00,
we will retain a small profit after covering our expenses and production costs. We
estimate that we will have a net income of $249,000 and a profit margin of 23.71%
in the first year.

Beginning in October of 1995, the Jordanian Dinar was officially pegged to the
International Monetary Funds Special Drawing Rights. Since then, the Jordanian
Dinar has not fluctuated very much, only moving up and down a few cents
periodically. The Jordanian Dinar equals .7105 US dollars. This will benefit Crocs
tremendously by not having to worry a great deal about the inflation or deflation of
the Jordanian Dinar (What is the Jordanian Dinar, 2011).



23 | P a g e



PRODUCTION COSTS


Cost

Per Unit
$10.00

Freight Costs
Value Added Tax
(16%)
Import Tariff (15%)


Total Cost


COMPETITOR
PRICING
Competitor
Nike
Adidas
Reebok

Per Unit ($)


$45.00
$35.00
$31.00

$0.82


PROFIT MARGIN
Per
Shipment
Total Revenue
$500,000.00 Cost of Goods Sold
Advertising
$41,000.00 Expense

$1.60
$1.50


$13.92

$80,000.00
$75,000.00


$696,000.00


$249,000.00

23.71%


Per Unit
(JD)
63.34 ..
49.40 ..
43.63 ..


Net Income

Profit Margin

$1,050,000.00
$696,000.00
$105,000.00

Revenue and Expenses


The revenue for Crocs in the Hashemite Kingdom of Jordan Market is an estimated
$1,050,000. This figure is based on 50,000 Crocs being produced with approximate
costs of $500,000 ($10 per unit) additional cost such as shipping and freight at
($0.819 per unit), VAT (16%) and import tariffs (15%) bring the total cost per shoe
up to $13.92. With a 44% markup on cost we will sell the crocs to distributors at $21
per pair of shoes. There will be a suggested retail price of $40 or 56.30 JD. The net
income is based on sales revenue minus cost of goods sold, taxes and marketing
expenses.

We predict a 10% market adoption rate with a market size of 556,500, which
equates to 50,000 units. We show 10% and 15% market adoption rates for
comparison purposes.





24 | P a g e

Crocs Projected Sales in Jordan


Year 1 Forecast

Year 2011


Market Share

15%

10%

5%

Amount Sold

150,000

100,000

50,000

Revenue

$3,150,000

$2,100,000

$1,050,000

Cost Per Unit

$13.92

$13.92

$13.92

Cost of Goods Sold

$2,088,000

$1,392,000

$696,000

Gross Profit

$1,062,000

$708,000

$354,000

$315,000

$210,000

$105,000

Marketing Expense (10%)


Net Income

$747,000

498,000

$249,000

Profit Margin

27%

24%

24%

Evaluation Plan
Evaluating the progress of Crocs in Jordan will be a very important aspect after
implementing this product into their market. There will be many different ways to
evaluate the progress of Crocs in Jordan. One of the main focuses we will have is the
relationship we build with our sub distributors. Our sub distributors are going to be
our front line for sales and the relationship that consumers develop with our
product depends on how well they perform. We will gather valuable information
from our sub distributors regarding our product on a weekly basis. Demand of our
product, the consumer adoption rate, and also how our inventory levels are holding
up in their warehouses will be important information to gather to determine
whether or not we are meeting our projections. We are striving to satisfy all
involved parties, from the sub distributors to the consumers.

Another option in evaluating our performance will be analyzing the numbers that
we receive on how our product is performing in the Jordanian market. We will be
monitoring the adoption rate of our product and the total sales for specific periods
of time, quarterly being the most important. Evaluating the adoption rate will be
important in determining if we chose the right target market for the product. If we
25 | P a g e

realize the target market needs to be changed or slightly shifted we can make
arrangements for that to happen.

Overall, we will have a strong focus in all of these different aspects in evaluating the
performance of Crocs in Jordan. After the first year we will be able to determine
whether or not we have reached our goals by looking if we captured 5% of the total
market share and if we sold the projected 50,000 pairs of Crocs shoes. If we obtain
the goals that were set at the beginning of the year, then we can determine that we
were successful. If we do not meet our projections, changes can be made and new
strategies can be drawn up.

26 | P a g e

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Pictures:
http://www.yousaytoo.com/the-most-beautiful-of-arabic-woman/337838
http://marketplayground.com/2010/12/26/crocs-nasdaqcrox-cfo-resigns-stock-
gets-hammered/
Video:
http://www.youtube.com/user/QueenRania?blend=10&ob=5#p/u/29/_dDNf4Qyb
qo

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