Marketing Mix Analysis and Strategies

This assignment requires an in-depth examination of the marketing mix (4Ps) and its application to various business scenarios. Students are also expected to analyze social marketing principles and their use in influencing behaviors for good. The assignment includes a review of existing literature on the topic, as well as case studies from companies such as Reebok, and provides insights into the employment of renewable energy in Jordan.

MARKETING STRATEGY

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
Marketing audit of sporting footwear and analysis of marketing strategy......................................1
PART 2 ...........................................................................................................................................6
Segmentation targeting and positioning (STP)................................................................................6
Segmentation....................................................................................................................................6
Targeting..........................................................................................................................................7
positioning .......................................................................................................................................8
SMART OBJECTIVES ..................................................................................................................8
RECOMMENDATIONS ...............................................................................................................8
CONCLUSION..............................................................................................................................10
REFERENCES .............................................................................................................................11

INTRODUCTION
Marketing strategies are used to increase sales of the company and achieve desired goals
and objectives set by it. It involves activities that could either be for long duration or may have
short time interval. Analysis is done to formulate and evaluate strategies in order to acquire
mission and hold competitive advantage at marketplace that would be contributing factor in
success and growth. Development process starts with scanning business environment that may
have several elements which have potential to impact business opportunities (Baker, 2014).
Reebok company has been chosen to analyse its marketing strategy and external and internal
environment that affects functioning of the firm. Pestle analysis will be conducted to study
organizational audit. In the analysis process, factors will be studied that have direct impact on the
growth of any organisation. Strengths and weak points will be discovered by applying SWOT
analysis. Marketing mix will be used that comprises promotional, pricing, place and product
details of the chosen venture. Sub Brand of sporting footwear will be chosen.
PART 1
Marketing audit of sporting footwear and analysis of marketing strategy
Marketing strategy for a company is a process that includes its goals and development
plan. A good marketing strategy incorporates marketing mix with the objective of increasing
profitability of the company and achieving sustainability in marketplace. Reebok is global
company that manufactures footwear, caps, wrist brands, sportswear etc. Products are available
all over the world. It offers quality product which has lead to its success and popularity across
the globe. Marketing audit for the company includes internal and external environments
(Solomon, 2014). For external audit PESTEL analysis can be conducted to identify various
factors that have either positive or negative impact on the organisation. These factors are
responsible in determining business dealings and accordingly strategies can be formulated. It is
also helpful in eliminating threats that have possibilities to affect marketing strategies of the
venture.
PESTEL Analysis of Reebok are as follows: Political factors: US government has introduced many changes in order to develop
enterprise in the country. It appreciates companies that has expanded their businesses
internationally. When a firm gets favourable condition for expanding business they
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introduce their products and services into market. Reebok launched its products in India
and China where the demand of the commodity has been raised over the last years. Every
country has their own rules and laws for the countries that wants to expand their venture
which helps in creating employment opportunities for many people. With tax collection,
revenue is generated for the associated country. Reebok expands its business by keeping
such factors into consideration (PESTEL Analysis of Reebok, 2016). Its focus is on
financial performance, innovation and productivity in apparel designs and acquiring
excellence in implementation of goods. Economic factors: Reebok has the largest sale of footwear worldwide. Company designs
products by targeting middle class people so that products are affordable for them as
well. Products are available for both men and women. Lifestyle of the people has got
attention and consequently apparels are designed so that customer needs can be fulfilled.
GDP growth rate of the Reebok was 7.3% in 2012-13 year which was increased by 6.8%
as compared to previous year. Inflation rates faced downfall by 6.8 % as a result of strong
policies. Social Factors: Reebok has designed various policies to encourage people who
participates in sports events (Fan, 2015). Youth of every country takes part in several
competitions for which they look for clothes which could provide comfort to them.
Reebok has collaborated with many sports organisations to promote their products. Technological factors: Website of its brand has been developed by Reebok where entire
range of products is available. It comes up with new and innovative products every time
to attract consumers. Online shopping facility has also been made available by it to
facilitate customers to buy at their own place reducing excursion of moving into stores. Environmental factors: Reebok has always tried to maintain standards so that
environmental impacts can be minimized. It always keeps checking it machineries and
equipments to ensure they do not have negative impact on environment. Company
follows rules and regulations of the associated country (Sari, 2017). Every year
innovations are brought up by the company to maintain consistency in the commodity.
Usage of the latest trends of the markets helps any organisation to be unique in its items
and also helps in gaining customer satisfaction.
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 Legal factors: To carry out business operations and activities various legal considerations
are taken into account. Reebok pays taxes and labour wages according to the county's
provisions. Policies are followed by the venture in order to make sure safe supply of their
products.
SWOT Analysis will be performed to identify internal environment factors that might affect
marketing strategy of the Reebok.
Table 1: SWOT Analysis of Reebok
Strengths
 Reebok have abilities to predict market
potential and accordingly products are
launched by it.
 Diversification into competitors
market.
 Use of the latest technology helps
organization to make attractive
products (Bull and et.al., 2016).
 It has good decision making
capabilities.
 Products have potential to acquire
attention. Reebok has strong financial position.
Weaknesses
 Reebok has strong position in footwear
market but does not have into apparel
business.
 It always tries to enter into different
sectors which becomes unmanageable
several times.
 Putting up operations of the firm
oversea introduces risks factors.
 Several other brands could be potential
competitors if they offer similar
product at lower prices.
Opportunities
 Footwear and sportswear has big
market and the demand is increasing
continuously.
 Oversea production will be helpful for
the venture in cutting labour costs.
 Fashion and trends are not known but
its prediction could help in making
profits.
Threats
 Trends in the footwear and sportswear
market cannot be predicted.
 Uniqueness in the product is necessary
demand (SWOT Analysis (Reebok
International LTD), 2017).
 Strong competitors have come up with
trendy and fashionable products.
 Customer preference and advancement
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 Adoption of new technology and
introduction of innovation would be
beneficial to increase market share
(Jaber and et.al., 2015).
of technology is also major threat.
Marketing Strategy of Reebok
Reebok has achieved success because it has able to understand expected customers.
Marketing strategy of the company can be summarized as: Product: Fashion and trends keeps on changing in the marketplace. High quality fabric
and adoption of the latest technology has provided comfort to the customers. ReeTrain
footwear collection is used in trainings of strength. Design pattern of shoes makes
muscles to work harder to gain much strength. It is available in three categories: Easy
Tone which is used for casual wearing, TrainTone which is utilized in gyms for exercises,
RunTone that is used for stretching and JumpTone is utilized for making strong leg
muscles. ReeZig are designed for running purpose (Kotler and et.al., 2015). They are
attractive which are capable to gain customer's attention and they are deigned in such a
way that reduces chances of tearing shoes. It has been majorly used by professionals.
Preference is given to such shoes because it helps in minimizing stain on the body parts
and that too almost 20%. These have been proven one of the best products by Reebok in
the context of providing comfort. ReeGym should are designed for workouts intention.
Reetone footwear are manufactured for the people which are unable to workout regularly
that helps in muscles to contract and release. In this type of shoes, moving air technology
has been introduced. Place: Reebok has successfully established brand across the world. It offers exclusive
products and has several outlets and stores. Locations for setting up new franchise is
chosen in such a way that can attract maximum customers. In India, Reebok has more
than a thousand stores in more than three hundred cities and its biggest showroom of is in
Hyderabad. For selling products, online strategies has also been utilized. They have
collaborated with other online selling products websites as well to enhance sell of their
apparels.
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 Price: Reebok has implemented common pricing policy in order to capture entire market
(Hanssens and et.al., 2014). Initially lower prices were set with the products that are
newly introduced and later on with the increase in product demand, pricing of the
products are changed. Reebok has adopted skimming policy under which superior goods
have higher costs. Company has achieved customer loyalty which is the main reason
behind higher prices. With the time, discounts and vouchers are provided to the
customers for the same product.
Destroyer Pricing policy was introduced by Reebok in the year 2006 to deal with
the flourishing popularity of other brands such as Puma and Nike. According to the stated policy,
prices were dropped down to a very low level which made it difficult for the other brands to
match up with the pricing issues. With this technique, it was able to capture large market.
 Promotion: To attract customers towards the brand Reebok has adopted various
promotional strategies with the time. Celebrities have been appointed for promoting
products and IPL teams have been also sponsored by it (Bhasin, 2016). It also organizes
sales and discounts for clearance.
Various connecting mediums were used by Reebok such as social media,
magazines, newspapers, television, etc. Run-Easy Movement was organized by the firm in which
number of customers participated and distribution of Reebok shoes was carried out.
Evaluation of organisation's USP over other brands
Reebok is one of the largest and biggest brand that sells footwear and apparel across the
globe. With the enhancement in technology, it incorporates innovations in its products with the
aim of acquiring customer attention. High quality fabric provides comfort to the customers.
Products are available at every range considering middle and high class people. Its main
objective is to target customer that have lower income (Peña and et.al., 2015). Various
Bollywood celebrities and cricket player have been endorsed in promotional strategies to convey
their agenda behind commodity. It has successfully established its franchises across the world
providing quality products. It also sponsors cricket teams, basketball, football and may more
sports. Advertisements helped it to get popularity.
Performance of the company has been improved with the passage of each year.
Successful increase in the sales has been recorded. Various promotional strategies has
contributed in company's growth and popularity in the world. In India, its revenue generated was
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Rs. 333 crore in the year 2015. With every year, revenue of the company has increased. In the
year 2014, revenue of the organisation was 1578 euros which got increased to 1751 euros by the
end of 2015.
Promotional techniques have benefited company. Company has always considered
factors for satisfying customers. By adopting new technologies, it has brought innovations in the
existing products and also introduced new items in the market which has always customer's
attention (Akong'o, 2010). They design apparels by keeping all the people into consideration so
that everybody can afford it.
PART 2
Segmentation targeting and positioning (STP)
It is important that target consumer should be identified for Men's Running shoes
products that are offered by Reebok. It will direct all the efforts of marketing division of the firm
towards achieving goals of the firm (Blery, Katselim and Tsara, 2010). Promotional campaigns
and marketing strategies can be formed accordingly for making the target consumer aware about
the Running products that are offered by the organization. Segmentation, targeting and
positioning strategy that could be used by the enterprise is as mentioned :-
Segmentation
Segmentation of target consumers can be done by Reebok for organizing and arranging
the entire market into sub groups so that target audience could be identified and attracted. It will
support for directing all the marketing efforts of the firm for attracting potential consumers of the
business (Cătoiu, Vrânceanu and Filip, 2010). It will help for gaining long term success and
competitive advantage for the business. Segmentation is basically procedure adopted for
identifying the potential consumers for selling Sub brand products- Reebok shoes for the firm.
Meaningful groups of buyers are identified and action plans are formed for attracting potential
consumer base for selling the products and services of the organization. Major benefits for the
segmentation comprises making effective utilization of resources and gaining focus for targeting
potential buyers. It also supports for creating value for the target market area and it will help for
targeting the potential consumers of the business.
Demographic segmentation :- In this category Reebok can target its potential consumers by
doing segmentation on the grounds of Age, income, education, marital status, social status,
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occupation, gender. Current objective for the company is to create awareness for its Men's
running shoe product and for this organization has option for targeting young boys in the age
group of 15-30. gender based segmentation can also be done as the products are specifically
designed for men. This segmentation criteria will help for making marketing strategies for this
group of consumers (Daymon and Holloway, 2010).
Psycho graphic segmentation :- In this category segmentation can be done on the basis of some
specific criteria and it comprise of Hobbies, lifestyle, brand preferences and service preferences
shown by buyers (Eliaz and Spiegler, 2011). This segmentation criteria will support for
delivering the Men's running shoe product of the Reebok as per the needs and requirement
shown by buyers.
Behavioural :- In this buying behaviour of the consumers will be identified and on the basis of
that marketing strategies will be determined and it will help for identifying the buyers on the
basis of their purchase history and their impulsiveness (Mooij, 2013). Reebok company can
make use of this segmentation criteria for making their marketing plan so that target consumers
can be made aware about the Running shoe products that are offered by the firm.
All the segmentation criteria mentioned above will be useful for the firm in targetting the
potential buyers for the business. Reebok can target its potential buyers and young Boys in the
age group of 15-30 can be targetted. In addition to this Sports persons can also be targetted for
selling the Men shoes products for the company.
Targeting
It is the identifying and determining the selected market area so that targetted consumers
can be made aware about the Running shoe products that are sold by the Reebok company.
Action plans and strategies are formed for making the buyers aware about the features and
attributes of the shoe products that are being offered by the firm (Peattie and Peattie, 2009).
There are three different methods that could be used by marketing division of Reebok for
targetting their consumers and it will help for accomplishing the marketing objectives of the
venture in successful and effective manner.
Three major marketing strategies that could be used by the firm includes Differentiated,
Niche and Undifferentiated marketing strategy. In the undifferentiated marketing strategy focus
is given on capturing the entire market and advertisements and promotional campaigns are
performed for attracting target segments (Rosenbloom, 2012). On the other hand Reebok has
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option for adopting more specialized and more focussed approach for making the consumers
aware about the quality and innovative features of the running shoe products. Different tools of
marketing such as Print media, Electronic media and Social media can be used for targetting the
buyers. It will enhance reach of the firm and all the marketing objectives of the firm can also be
accomplished successfully in this manner.
Positioning
It is the third and final stage of the STP process and in this unique image of the product is
created in mind of buyers. Positioning is about giving focus on how buyers view the products
and what is perception of consumers towards the service and quality of shoe products that are
being offered by the Reebok company. Various positioning methods that could be used by
company includes service differentiation, product differentiation, channel differentiation, image
differentiation and people differentiation (Menzel and Shrestha, 2012). The most advantageous
method for the company is to make use of product differentiation in which focus is given on
adding new attributes and features in the existing commodity and it will help for making more
improvements in quality of Men's running shoes that are offered by the entity.
SMART OBJECTIVES
SMART objectives prepared for the company supports for giving directions towards
reaching to the goals and objectives. It is critical that proper research should be conducted so that
smart objectives should be framed that are suitable, achievable and feasible. SMART objectives
for the Reebok are as mentioned.
SPECIFIC To develop market growth in UK market by enhancing sales and
consumer awareness.
MEASURABLE Achieving sales worth 6 Million GBP in the target market area.
ATTAINABLE To increase the market share for Men's running shoes by 5 %
RELIABLE To open 30 new stores of the company and designing aggressive
advertising and promotional campaigns for increasing sales.
TIME BOUND To make enhancement in existing market share by 5% In coming 6
months.
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RECOMMENDATIONS
Marketing strategies that could be used by the company for the chosen brand of Men's
running shoe product can be made on the basis of marketing mix elements and it is as mentioned.
Marketing mix for Men's running shoe products
Product :- Marketing schemes will be formed for Men's Running shoes products.
Price :- Price of Running shoes will be kept lower and it will help for attracting more number of
consumers for selling the products of the firm.
Place :- Stores and outlets of Reebok will be opened in areas in which it become easier for the
buyers to avail products of the firm.
Promotions :- Use of internet based technology such as Online selling websites and social
networking sites will be taken for making buyers aware about the features of the running shoe
products.
Marketing strategies that could be used by marketing division of Reebok is as mentioned :-
1- Cost leadership strategy :- In this strategy price of the shoe products will be kept lower and
it will help for attracting more number of buyers for selling the Running shoe products of the
firm. Lower price can be charged for the goods and through this sales can be enhanced and
existing financial revenues and profitability earned by the company can also be improved. This
strategy will provide a platform for becoming leader in market in terms of cost and being lowest
cost producers in category of shoe products (Kubacki and et.al., 2015).
2- Focus strategy – In this strategy Reebok will target specific market area and through this
target segment of buyers will be identified and it will support for reaching to the selected and
targetted consumers of the company. Needs and preferences of the buyers can be identified and
on the basis of that marketing strategies could be developed and focus could be given for
meeting the requirement of clients (Lee and Kotler, 2011). Organization can give focus on
adopting this strategy so that target consumers can be identified and action plan could be formed
for meeting their requirements and needs.
3- Differentiation strategy :- Reebok company can adopt and implement differentiation strategy
and in this emphasis can be given on adding extra features and attributes in the products that are
being offered by the firm. Research and development department of the company can take
initiatives for adding unique features in the existing footwear products that are being offered by
the entity (Blery, Katseli and Tsara, 2010). High quality running footwear can be designed and
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sold to consumers and it will help for developing the products in effective way for meeting the
needs and requirement of buyers. It is required that there should be proper research so that exact
requirement and needs of the consumers could be identified and on the basis of that attributes
and features in the shoe products that are being offered by the firm. New product development
process should be performed in planned manner so that adequate amount of data and information
should be made available and on the basis of that marketing plan and strategy could be
developed.
CONCLUSION
From the report it can be concluded that marketing strategy plays an important role in the
sell and purchase of the products. From the PESTEL analysis it can be concluded that Reebok
has potential to grow with every year. It has always tried to incorporate new technologies so that
innovative apparels can be made available to the customers. Place and promotional strategies
plays significant role in acquiring consumers. Efficient and influencing plans tends to gain
attention even in the competitive market. From the SWOT analysis, it was found that company
has several advantages of strong financial stability and goodwill in the market but on the other
hand there are weak points and threats such abilities to adopt new technology and product
offering at lower prices by other competitors. SMART objectives can be prepared to direct work
in order to achieve goals and missions of the company. Strategies should be applied by
segmenting and positioning customers so that objectives can be easily met.
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