Contemporary Issues in Marketing: An Analysis of Adidas Footwear Marketing Mix
Verified
Added on 2023/06/18
|8
|2400
|268
AI Summary
This report analyzes the marketing mix of Adidas footwear, covering the 4Ps of marketing and their application to the product. It also provides an explanation of marketing and marketing mix, and discusses the importance of marketing in enhancing profits and building brand image.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Contemporary Issues in Marketing
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Table of Contents Introduction......................................................................................................................................3 An explanation of marketing...........................................................................................................3 An explanation of marketing mix....................................................................................................3 A brief theoretical explanation of 4Ps marketing mix.....................................................................4 Introduction of product/service........................................................................................................5 Application of 4Ps marketing mix to the selected product/service..................................................5 Conclusion......................................................................................................................................7 REFERENCES................................................................................................................................8
Introduction Identifying and making the arrangements of the elements is known as marketing mix. As marketing mix is the most important principle of marketing. As marketing mix is a type of tool that helps the organisation in selling of their products and services to target their customers. Marketing in now a days is very important because this helps in selling their products and services to the customers and enhancing their base and profits as well (Eneberg, 2021). There are various importance of marketing such as it helps in enhancing their profits and revenue and building brand image and attracting customers towards the brand etc. the organisation taken in this current report is Adidas. As it is one of the multinational corporation which was founded in the year 1924 by Adolf Dassler. Company is dealing in variety of products such as footwear, sportswear, apparel etc. they are effectively doing their marketing in the organisation. This report covers discussion about a marketing mix of a particular product which is being offered by Adidas. An explanation of marketing Marketing is the action of business organisation which helps in promoting of the products and services to the customers. As this can be done through various marketing platform like digital marketing, advertising, personal selling, public relation and word of mouth etc. marketing can be the activity which is a set of institutions that is the process of creating, communicating, exchanging and delivering of the offering or a products that is being selling by the organisation. This involves clients, customers, society etc. this helps the organisation in achieving their aims and objectives in most effective manner (Evans, and French, 2021). Now a days it is becoming a key aspects of the business. Marketing helps the business in raising the brand awareness and generating traffic. As this helps in generating leads and increasing the sales of the organisation. And building trust in the brand of the organisation. There are various marketing strategies that helps the organisation in enhancing their customer base and promoting their products and services. An explanation of marketing mix Marketing mix is refers to the set of marketing which helps the organisation in selling their products and service to customers. Organisation is technically using various marketing tools in order to sell and promote their brand products and services. Managers of the organisation
make effective marketing plan which helps them in targeting their customers and achieving their aims and objectives. As identification and arranging of the elements of marketing mix helps the business in making their profits and revenues. Also by using marketing mix business can develop their strength and weakness, they could become more competitive in the market and improve their profit collaboration in various department. Marketing mix consist of Four elements which are price, products, promotion and place. Marketing mix helps the organisation in developing their brand image and identifying their targets products and services (Gbadamosi, 2021). The components of marketing mix have undergone various arrangement in response related with new technologies an there can be alteration in marketing best practice. A brief theoretical explanation of 4Ps marketing mix Marketing mix consist of four elements which are called as 4Ps. These are price, products, place and promotion. Price is concerned with purchase of the product. Price is depending on the value of products which customers should be able to give in return for that products. It can be changeable according to the marketing strategy. A lower price can attract customers towards products and services. While higher price request to customer quest action. Further, in this price can be more than cost of production so that organisation could make profit and revenue. Then next is product which company is offering to the customers in order to enhance them and increase their satisfaction. It is the product of service which is being sold. It should unique and creative so that customer could more attracts towards the products an services. There can be various challenges which could be faced by manger sin order to make a products and service so that it could be more enhanced by customers. If company is making quality of products and services then they could able to attract more customers. Promotion is the next element of 4ps (Hamidi, and Worthington, 2021). As it involves advertising, public relations and sales promotion and direct marketing. TV commercials and internet advertisements can be regarded as the most important fro the organisation in order to enhance their products and services. Promotion of the organisation can be done through digital marketing, advertising on taxi cabs. Promotion is encompassing what is being communicated and who is being communicating to, how it can be reached to the customers and how this promotion happens.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
The last element of marketing mix is place as this is the physical location in which customers can reach and buy their products and services. This involves distribution centres, inventory decisions, warehousing and transports and franchises. Introduction of product/service The organisation which is taken in this report is Adidas. Adidas is one of the biggest brand which is having the headquarter in Germany. Company is a creating variety of designs and manufacturing shoes, clothes and other accessories (Hassan, and Soliman, Jenkins, 2021). It is consideredasthelargestsportswearmanufacturerinEurope.Companyisthebiggest manufacturer of shoes. As this products is largely produced in all over the world. Adidas is manufacturing the shoes which is very unique and they are making creativity in their designs so that they they could attract more customers. There products are of high quality and that is why its prices is moderate high as compared top other brands. It is having biggest competitors like Reebok and Nike etc. Adidas is currently selling various running shoes that includes energy boost and spring blade trainers. Its products are being selling through both online and offline sources. Adidas excited a sneakier which is made of ocean plastics. This shoe is called as Adidas future cart bio fabric. Company is creating a high range of products and their shoes are of high quality in order to provide customers variety of products and services. Adidas is promoting this products through digital marketing channels and making adverting so that more people could get enhanced by the products and service they re purchasing and also at the time of occasions, company is providing providing proper discounts to the customers (Wu, and Farkas, 2021). This helps them in enhancing their customer base and making more profits and revenues. Application of 4Ps marketing mix to the selected product/service Adidas is the biggest brand of the sportswear as this is dealing in various products and services. Company is doing marketing mix in order to target their customers according to their products and services (Kurttila, 2021). The selectedproducts of Adidas is footwear. The marketing mix of the Adidas footwear is discussed below: Product: The product which company is focusing on Adidas footwear. As this is mainly used a sports wear shoes. They are mainly offering sports shoes to the customers. They are heavily spending money on research and development department so that they could bring new innovations and know customers preferences. Adidas shoes is also having partnered and
collaboration with the celebrities and by this they have launched variety of sports wear shoes and attracting more customers. It is mainly focusing on their designs and innovations and using updated and latest technologies in order to manufacture their products that is shoes. They re providing variety of shoes and footwear to the customers. They are also focusing on providing quality of footwear to the customers so that they could attract more customers. Company is making those footwear which are futuristic and which can satisfy customer needs and demands as well. Price: The company is known for their quality of products they are providing to customers. This is the second element of marketing mix. Adidas is focusing on providing stylish footwear to the upper and middle class people (Liu, and Hei, 2021). Company is having the prices which can compete with their competitors and other brands as well. They are using competitive and skimming pricing strategy. For the launching of Adidas footwear, company is using competitive pricing strategy by keeping in mind the competitors in the market. They are having various competitors such as Reebok, puma and Nike etc. if company is launching any new footwear design and making use of technological advances then they make use of Skimming pricing strategy. As its footwear prices are more higher as compared to other brands because it is providing high quality of products to customers. Place: Place is the another element which being used in marketing mix. As this is the most important element which consist of place in which customer could easily reach to the brand products. Company is using both online and offline channels in order to sell their footwear. For using the offline channel through Adidas outlets and multi brands outlets fro distributing their footwear in most effective manner. Company is using various outlets and partnering with other multi brands in various other cities to reach their mass audience. By doing online channels they are using online websites like Myntra.com and flipcart.com, etc. company is using these channels in order to sell their footwear and sportswear which helps them in development of their brand image (Ma, Hoppe, and de Bruijne, 2021). Promotion: this is the last element of marketing mix. As promotions of Adidas footwear can be done through various methods. As company is doing both online and offline promotions in order to enhance their customer base and develop their brand image. Company is doing promotion through the tag line called “Go for the kill” as this means nothing can stop you from achieving their goals and objectives. Some of the online and offline channels which company is
using for promoting their footwear is Online channels and offline channels. Online promotion can be done through various digital marketing channels that is Facebook, You- tube and Instagram etc. then another offline channels can be used such as televisions, events sponsorships, and direct marketing in order to reach to their customers as well (Munten, Vanhamme, and Swaen, 2021). So this helps them in reaching to their targeted customers and attracting them towards the brand. Conclusion From the above it can be concluded that marketing mix a important tool of marketing as it helps in setting the targeting customers. Marketing mix consist of four Ps which are price, product, place and promotion. As marketing mix of Adidas shoes is discussed above. It is very popular in all over the world. This helps the organisation in enhancing their customers and increasing this profits as well. As marketing mix helps the organisation in targeting their customers and attracting them towards the brand. Company shoes are most popular and this brings more attraction towards the brand. The managers of organisation should have to focus on developing new strategies in market in order to enhance customers as well.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
REFERENCES Books and Journals Eneberg,C.,2021.Börjangott,alltinggott?:Enkvalitativstudieomskolassistenters erfarenheter av sin socialisationsprocess. Evans, W.D. and French, J., 2021. Demand Creation for COVID-19 Vaccination: Overcoming Vaccine Hesitancy through Social Marketing.Vaccines,9(4), p.319. Gbadamosi, A., 2021. Marketing to Children in Africa: Ethics, Business, and Public Policy. In21st Academy of African Business and Development Conference(p. 172). Hamidi, M.L. and Worthington, A.C., 2021. Islamic banking sustainability: theory and evidence usinganovelquadruplebottomlineframework.InternationalJournalofBank Marketing. Hassan, N.H.B. and Soliman, H., Destinations Branding: Exploration of the Potential Aspects of ‘Dark Tourism’in Egypt. Jenkins, M.E.F., 2021.Brand Equity and Consumer Willingness to Pay Higher Prices for Angus Beef in Fast-Food Restaurants(Doctoral dissertation, Grand Canyon University). Kurttila, S., 2021. Process development in a social enterprise: case study: Egg Production Uganda Ltd. Liu, Y. and Hei, Y., 2021. Exploring Generation Z Consumers' Attitudes towards Sustainable Fashion and Marketing Activities regarding Sustainable Fashion. Ma, W., de Jong, M., Hoppe, T. and de Bruijne, M., 2021. From city promotion via city marketing to city branding: Examining urban strategies in 23 Chinese cities.Cities,116, p.103269. Munten, P., Vanhamme, J. and Swaen, V., 2021. Reducing obsolescence practices from a product-oriented PSS perspective: A research agenda.Recherche et Applications en Marketing (English Edition), p.2051570720980004. Wu, A. and Farkas, R., FROM ATTITUDE TO BEHAVIOUR.