Ryka Athletic Shoes for Women

Demand is one of the most important economic characteristics of the athletic footwear industry. In 1987 the footwear industry grew at about a 20% rate showing great demand. By 1993 the annual growth rate of the athletic footwear industry had decreased to 4%, indicating saturation and a mature market (Gottfried, Hoffman, Porciello, 1994, 501).

Several segments of the industry, shaped by technological innovation, image and fashion appeal continue to expand and thus represent additional key economic characteristics of the athletic footwear industry (Gottfried, Hoffman, Porciello, 1994, 501). The popularity of various footwear-related activities such as basketball, tennis, running, aerobics, crosstraining, and walking support the idea of footwear specialization. Therefor being able to advertise as the company that specializes in certain subcategories of athletic footwear must be considered another key economic characteristic of the athletic footwear industry (Gottfried, Hoffman, Poricello, 1994, 501).

For example, Reebok pioneered the aerobic segment of the athletic shoe industry. Because this subcategory is made up primarily of women, Ryka which specializes in athletic shoes designed for women, was able to split off a section of the athletic shoe market as its own (Gottfried, Hoffman, Porciello, 1994, 501). Using the same marketing rationale, Ryka also has captured a certain segment of the walkin

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ically to certain subcategory users. Still, Ryka and its founders initially found it difficult to find investors. With the exposure that Ryka shoes received from the Oprah! talk show late in 1990, distribution was no longer a problem (Gottfried, Hoffman, Porciello, 1994, 499). Promotion and distribution became a matter of choosing which products to promote through national shoe chains (Gottfried, Hoffman, Porciello, 1994, 507508). Success of Ryka/Financial Situation Using a marketing strategy of shoes designed, engineered, and manufactured by women for women Ryka has done moderately well. From a relative standing start in 1987, Ryka was selling $12.1 million worth of shoes by 1992. Compared to Nike's $3.4 billion this is not much of a turnover (Gottfried, Hoffman, Porciello, 1994, 508). Consider however that the athletic footwear industry is highly competitive and most companies are well-financed before they begin shipping. Ryka had a well defined marketing concept and literally had to fight to acquire sufficient capital before receiving nationwide exposure on the Oprah! show (Gottfried, Hoffman, Porciello, 1994, 499). Specializing in women's athletic shoes has become a matter of following exercise trends closely and a
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Approximate Word count = 1415
Approximate Pages = 6 (250 words per page)

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