Strategic Management and Marketing Assignment

Added on - 21 Apr 2020

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Running Head: MARKETING1Strategic Management and Marketing:Adidas, New Zealand
MARKETING2Table of ContentsIntroduction......................................................................................................................................3Company Background.....................................................................................................................3Marketing Goals and Objectives.....................................................................................................4Sales Objectives...........................................................................................................................4Profit Objectives..........................................................................................................................4Pricing Objectives........................................................................................................................4Product Objectives.......................................................................................................................4Market Research..............................................................................................................................4Analysis of Target Market and Competitors...................................................................................5Target Market...............................................................................................................................5Demographic Characteristics...................................................................................................6Behavioral Characteristics........................................................................................................6Psychographic Characteristics..................................................................................................6Competitors’ Profile.....................................................................................................................67 Ps of Marketing.............................................................................................................................9Product.........................................................................................................................................9Price...........................................................................................................................................10Place...........................................................................................................................................10Promotion...................................................................................................................................10People.........................................................................................................................................11Processes....................................................................................................................................11Physical Evidence......................................................................................................................11Financial Information....................................................................................................................11Conclusion.....................................................................................................................................12References......................................................................................................................................14
MARKETING3IntroductionMarketing plan of an organization is one of the major documents, which includes all theprocesses and activities, which are needed to bring its products and services to the market.Primarily, it is used for promotion and advertising of the products to its potential customers. Thisreport includes the marketing plan for a well-established organization, i.e. Adidas, New Zealand.Adidas is the German multinational organization that offers a wide range of products to itscustomers. Under this marketing plan, there is discussion about the marketing goals andobjectives of Adidas. It includes the market research, target market and leading competitors ofthe organization. When an organization brings its new products to the market and people, then itneeds to conduct market research for analyzing needs of customers and current trends in themarket. Furthermore, the report uses 7 Ps tool of marketing that includes different marketingstrategies in context of Adidas. At the end, it includes the predictive levels of sales and profits,which the company wants to attain in New Zealand by implementing different marketingstrategies and tactics.Company BackgroundAdidas is a Multinational Corporation of Germany that is headquartered in Herzogenaurach,Bavaria. It was founded in the year 1949 by Adolf Dassler. The organization operates itsbusiness by offering a wide range of products, like; it manufactures and designs clothing, shoesand different accessories. Adidas is a well-established organization and it is named as the largestsportswear manufacturer in Europe. This is a holding firm of Adidas Group, which includesvarious firms, such as; TaylorMade-Adidas Golf Company, Reebok Sportswear Company etc.As of 2016, the total revenue of the company was €19.29 billion. Currently, the company isemploying over 53,731 employees in more than 160 countries and produces more than 660million products each year and produces the sales of € 14.5 billion. By looking at the figures, itcan be suggested that the company has complex structure, but it keeps the things very simple,fast and lean (Adidas Groups, 2017). It is the major reason that company is known as secondlargest sportswear manufacturer in the world. The company has expanded its business in variouscountries and now, it is planning to bring its operations to New Zealand.
MARKETING4Marketing Goals and ObjectivesIn the formulation of business plan, first step is to develop its objectives and goals for marketingprocess. Under this step, the company will decide that what it wants to attain by introducing itsbrand in New Zealand (Ait-Alla, et al, 2014). The marketing objectives of Adidas are divided infour criteria, which are stated below;Sales ObjectivesUnder this objective, the firm intends to significantly accelerate its sales and growth in earningstill 2020 as a major part of this marketing plan. Adidas is expecting the sales to increase at therate between 10% and 15% per year in the period of 2017 to 2020.Profit ObjectivesUnder this objective, the company is looking for to increase its profits and revenues to increasefrom 10 to 12% on average during the period of 2017 to 2020. It will target that net incomeshould grow approximately 20 to 22% in this duration (Alexander & Ella, 2013).Pricing ObjectivesThe company will set the prices with the objective of retaining the existing customers andcreating new customers. For existing products, it will use competitive prices and skimmingprices for the new lunched products. It will assist the organization in attaining pricing relatedobjective.Product ObjectivesBy offering innovative and new products in New Zealand, the company wants to make its uniquebrand image and to become one of the most talked sports brand in New Zealand. By theseproducts, the company aims to attract more and more customers and engage them to drive brandpreference in the country (Barney, 2014).Market ResearchMarket Research is the process that is conducted by an organization for collecting theinformation about market and market trends. It assists an organization in understanding the needsand preferences of customers in a particular country (Cody & Jackson, 2016). In this report,Adidas is expanding its business in New Zealand, so it needs to make research in New Zealandapparel and accessories industry. In this country, the clothing industry has performed very well
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