Horseshoe Market free essay sample

Dragon has been on the winning streak since his shoes were arranged with two aluminum shoes on his front hoofs and two steel shoes in jack. Crediting success to the horses shoes raises many eyebrows in the horse world. Defining which shoes are best for any particular horse would be beneficial for both the market and consumers. The predicament in this market is the lack of scientific proof to which (aluminum or steel) has the upper hand in the horseshoe market. Problem The problem is that neither consumers nor merchants know whether the steel or aluminum horseshoe is best for any particular horse.Users base their decisions on many variables such as the horses gait, the track, hoof shape and the weather, but also their opinion. The situation that needs to be addressed here is the lack of scientific proof to which horseshoe is best for any certain horse. We will write a custom essay sample on Horseshoe Market or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Situational Analysis Strengths Horseshoes have been around for many centuries and are a must in the horse industry, especially the racing business. As long as horses are being raced and used for competitions, a type of horseshoe will be necessary to keep on the market.The strongest part of the shoes is the need for them in the horse industry worldwide. Weaknesses The horseshoe market is driven by opinions not facts. This is a weakness cause misunderstanding and confusion about which type of metal is best for a particular horse leads to incorrect information about the products on the market. Incorrect information can lead to poor decisions in the future of the horse industry. Opportunities The horse industry is far from coming to a close.Between racing, rodeo, shows, and pleasure riding, the industry is only growing and providing opportunities for the horseshoe market to grow and flourish. With the science and technology we have now days growing at the speed it is, the ability and opportunity will arise soon enough for new types and forms of reechoes. Threats Though science and technology could be seen as an opportunity to benefit the horseshoe market, it could also be considered a threat if not utilized. There is a chance that there is or will be the science out there to put horseshoes out of order.Alternatives Alternative One For some it would Seem like a silly solution for any marketing issue, but there is always the alternative to do nothing. Because there is almost an even split in the market between steel and aluminum, it has caused confusion and talk in the industry but yet no big problems have risen up. That being said it has en going on for so long and yet the market is quite balanced with no super power. Due to this alternative working in the past, it seems that letting it continue on this way could be a valuable alternative for the future. Alternative Two Getting a clear and educated understanding of which type of horseshoe is best for any given horse seems like a very possible solution alternative. This would give the entire market something easy to see and allow them to make wiser choices for their horses and businesses. This may sway the market to one side a lot more than the other but gives clarity to those within the industry. For this type of clarity, it would entail a lot of scientific research on the industries part.Alternative Three Though this idea is farfetched and optimistic, creating a completely new type of horseshoe is also an alternative for this market. With the science and technology growing the way that it is, this is where the opportunity would arise for the horseshoe market to expand. Coming up with something new and improved could possibly help the market as well. Proposed Solution After careful consideration, I would recommend alternative two. Because the racket is so balanced and doesnt seem to be suffering or in any danger, doing anything drastic like creating a new product appears to be irrational.