rapid development in technology in Adidas CompanyContents
TOC o “1-3” h z u Adidas Company PAGEREF _Toc378181912 h 1Introduction PAGEREF _Toc378181913 h 1
IntroductionThe rapid development in technology has made the world become so competitive that companies across the world are trying hard to get over one another by being distinctive in the respective field. Adidas is world renowned company for sports equipment, clothing as well as, other accessories. The Company was established in Germany in 1949, by Adolf Dassler. The name Adidas is known to be synonymous with the sporting industry. Today, the Adidas Company has become a global public company as well as, one of the largest sports brands around the world. The company mainly targets the youth, the consumers from upper middle class, the consumers who love sports as well as the consumers who are fashionable and stylish (Brassington, & Pettitt, 2003). In summary, the paper will give a report on Adidas’ marketing mix assessmentAdidas Company Marketing mixIt is evident that every organization across the world is looking at their marketing in relation to the marketing mix. Marketing mix is significant in assessing and balancing the elements of the mix that helps in meeting the needs of the customers. The four P’s include;ProductThe main aim of the company is to satisfy the needs or wants of the consumers. As a result, the company is developing a new innovative technology that will make them to continue competing with Nike and Puma. The company upholds its brand by upgrading as well as improving the products’ innovative features along with quality in order to satisfy its customers. The company has maintained a culture of providing products with high quality to their customers. Its product portfolio is enhanced through innovations where they provide a well known brand for sports apparels, accessories and equipments.PriceThe Company is able to penetrate the marketing because their products seem to be cheaper than their competitors such as Nile, Fila and many others. As a result, the Company is developing a market skimming strategy which will help them in pricing their products. This is significant because it will help the company to continue achieving their set goals and objectives. The company’s involvement in evaluation practices will help the company to ensure that their products will always stay competitive at the point of sale.PlaceThe Company distributes some of their products to the various sporting outlets such as the Royal Sporting House. The company future plans in regard to places where they will sell their products will include online purchasing through the internet. Conversely, the company is adopting a global plan that will help the company in promoting their products to the consumers. The company is also setting up an “integrated distribution roadmap” that will ensure that there is further growth as well as, to increase the brand presence in affluent cities.PromotionAdidas Company promotion objective is to become the number one sporting brand worldwide. The company’s’ promotion mix includes use of Internet, point of sale, advertising through mass media as well as the “impossible is Nothing” campaign. Today, the company sells products in almost all country across worldwide. The company has adopted different promotional tools that will help them in reducing the number of lost customers as well as, to increase sales. The Company is also setting up an incomparable portfolio of the promotion partnerships with the international recognized sports associations which include UEFA, FIFA, and NBA.Strengths of Adidas CompanyThe Adidas Company has innovative ways that involve the use of technologies to attract consumers. The strong and innovative marketing since years have enabled the company to create strong brand retention in the mind of the customers. For example, they are able to express a new variety of their products every time. The Company on the other hand, has developed a long heritage along with high brand value since 1924 that offers quality products as well as, attracting educated employees who are willing to communicate the message of their products. In addition, the company is also known to have bees sponsoring major sports events such as Olympics and major sportsmen. The other strength of Adidas Company is that it has a worldwide presence which is internationally recognized. All these strengths enable the Adidas Company to meet the needs of their customers and to differentiate the firm from the competitors such as Nike, Reebok, Bata, Liberty, Puma, Fila and many others (Smit, 2006).OpportunitiesHowever, Adidas Company has several opportunities that make it gain its competitive advantage; the firm has various technological advancements as well as emerging international markets that are related to serving the needs of customers in that, the firm satisfy the desire for their products along with experience across other countries. An emerging international market helps the firm in expanding while other countries experiencing economic recession (Riley, 2012). Technological advancement on the other hand allows the Adidas Company in increasing the quality as well as, decreasing the waiting time for their customers. However, the company on the other hand, has an opportunity of keeping up with its competitors; for instance, the company is able to generate about 60 new foot-friendly designs each year. The other opportunity is that the company can venture into making more and more stylish designs and cuts as well as brand building by setting up sports academies (Smit, 2006).Future Strategy plans for Adidas Company
The Adidas Company marketing strategies is to ensure that they are at the top sports brand across the world. The company has planned to do this by ensuring that all the athletes are faster, cooler and stronger. Its other strategy is to create new customer experiences by training as well as increasing the global footprint (Ziervogal, Müller & Suffenplan, 2008). The company’s’ future plans are to position the footwear range as the premium brand for people taking athletics. Adidas has also developed a mid sole energy capsules which is an innovative technology that will help in building the brand similar to what its competitors such as Nike and Reebok did in early 80s.The company on the other hand, will run promotions as well as, sampling for the boost range in countries such as Berlin, Boston and London marathons. Its other future strategies plans are to promote the range at Parkrun, a series of weekly running events across the world. The Adidas Company future strategies plan is to adopt skimming pricing strategy in contrast to its competitors and to identify places where they will continue selling their products such as online purchase, sporting outlets and Adidas outlet. The BCG matrix of the Adidas assumes that, the Company enjoys its market share by making high profits when they sell their new branded products, and so the company will continue to enjoy the scale of economies that gives them benefits to achieve their competitive advantage. The Adidas market is expanding because of high growth but not that the company is investing its additional investment resources into its product line.ConclusionThe Adidas Company has a very extensive marketing process, and the way they address their marketing mix process provides a good example of the way major corporations should develop a marketing mix for the better development of the organizations’ marketing strategy and tactics. The four P’s allows Adidas to have the ability of connecting to consumers surrounded by the targeted market. The ability of Adidas Company to create a successful marketing mix has enabled them to produce a good result and a high quality and branded products compared to those companies who choose wrong mix that has led them to fail in their marketing strategies hence resulting to the dissolve of the business. Generally, marketing of the product focuses on the 4p’s in the marketing mix. The marketers therefore, need to carefully analyze the demand of the customers within a specific market in order to find out the specific products that can respond to the market demand.
Marketing is a mutualism existing between the companies and customers. Marketing is an important process given that most people are able to acquire all that they may need or want by means of an exchange. For instance, the role of companies is to ensure that they supply the needs of the customers who tend to buy their products. The main aim of the marketing process is to create value for customers who in turn will give value for the company in the form of profit and equity. For instance, the Adidas Company has innovative ways that involve the use of technologies to attract consumers. For example, they are able to express a new variety of their products every time. The Company on the other hand, has developed a niche in the market that offers good products as well as, attracting educated employees who are willing to communicate the message of their products. All these strengths enable the Adidas to meet the needs of their customers given that it allows the company to differentiate itself from other competitors.
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