Online Custom «Marketing Mix: Adidas» Essay Sample
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The marketing mix is considered to be a business tool that is used in marketing to determine a product or brand’s offering. The term is often synonymous with the four Ps: product, price, promotion, and place (Kotler & Keller, 2006). The marketing mix is used to describe different choices of organizations which should be made during the whole process of bringing a product to market. The marketing mix includes the parameters that may be controlled by a marketing manager, as well as subjected to internal and external marketing environment constraints. Its main goal is to generate a positive response from the target market.
In order to achieve its goals, a company should have a strategy that mixes the correct marketing elements. Target market is a key factor that must be taken into account while creating a mix. It is vital to the company to understand the customer’s needs and only then create marketing strategies that will satisfy the demand (Kotler & Keller, 2006).
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Adidas is the second largest company in the sportswear industry that is headquartered in Germany. The company is engaged with the sport industry offering a widespread selection of sport equipments. It also produces such products as clothes, watches, bags, shirts, sunglasses, deodorants, perfumes, lotions aftershaves, and shower gels. The company uses innovations in technology to improve the product quality. Many sporting events and celebrities are sponsored by the company. Adidas has its market extensive increase in the USA, Asia, Europe, with approximately 150 continents.
The aim of the company is to improve their quality, feel, look and representation of their product to surpass the expectations of its consumers and provide them with the highest quality and value. It also aims at helping athletes achieve the highest performance in various fields. In order to increase its profitability, Adidas invests in the sport market and produces almost all kinds of products for athletes, swimming, boxing, body building, football, golf etc. The company does its best to give the customers confidence and comfort and ensure that they are wearing a reliable product of the highest quality. The main marketing strategy of Adidas is represented in the company’s motto ‘Adidas is all’. In 2013, the company introduced a new global strategy of the brand. In addition, it has developed midsole energy capsules, which are considered to be an innovative technology of cushioning.
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The company seeks to become a leader in the sporting goods industry. In order to meet this goal, the company applies different strategies, which help to fuel business development in the emerging markets. Adidas also aims at facilitating its growth in the sphere of market share in the countries which have been already penetrated. Believing that consumers require choice, Adidas has applied a multi-brand strategy. The strategy allows the company to capitalize on opportunities. It helps the brand to keep its unique identity on the core competencies, provide the group with a broad product spectrum. Due to the fact that the survival of Adidas depends on their presence on the world market, international marketing is of crucial importance. The company is following a strategic business plan “Route 2015”, which leads to the incorporation of all sales channels, brands, and group functions globally.
The investments of the group mainly focus on the markets with high-potential. Hence, the company is investing in the best medium markets. The priority is placed on the emerging markets including Russia and China. However, the focus is placed on such factors as economic, technological and fiscal developments, the business environment and legal requirements (Vlasich, 2012).
The controllable marketing variables, which influence the most important decision within the company, are often summarized to the marketing mix. The Adidas Marketing Mix has been tailored in the following way:
The Adidas group maintains the culture of providing only high quality products and aims at providing the best value to the customers and satisfying their needs. The company is known for upholding its brand through constantly improving and upgrading the innovative product features and catering for different wants of consumers. The company’s product portfolio is continuously enhanced through innovations and creations throughout a variety of the company’s categories. This strategy is pursued with the aim to cater to the different wants and needs of consumers worldwide. Nowadays, Adidas has established itself as a strong and well-known brand for sports apparels, accessories, and equipment. The diverse brand portfolio includes Adidas, Reebok, Rockport, CCMHockey, and TaylorMade Adidas Golf, which represents outdoor and casual footwear, accessories, golf equipment, footwear, hockey equipment and others.
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Adidas is known to be a shopping product. It causes the fact that the company uses adapted pricing strategies which mostly depend on the market they are operating in. One of the most implemented tactics is to use market skimming and penetrate markets with lower prices. As the company recognizes the intense competition in the global market, it is involved in the regular price evaluation to ensure that its products remain competitive in the industry.
The company has already adopted a global plan to distribute its products to the various sporting outlets including World of Sports, Royal Sporting House, Sportslink and others. An emphasis is put on controlled space including Joint ventures with retail partners, Shop-in-Shop, Own-retail business, e-commerce, co-branded stores with sports organizations, mono-branded franchise stores and other brands. It helps the company to provide a high level of brand control. Moreover, Adidas has set up an integrated distribution roadmap which ensures further brand growth and increase in affluent cities.
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It is evident that product promotion plays a very important part in the marketing strategy of a product. Product promotion increases the customer’s interest and also creates a value and trust towards it. It also gives the relevance and importance of the products. Adidas sells its products in almost every country of the world. In order to increase sales and to reduce the number of lost customers, the company uses different promotional. An unparalleled portfolio of promotion partnerships has been set up with such international recognized sports associations as FIFA, UEFA, NBA, NHL and NFL (Vlasich, 2012). The company tries to promote itself in a variety of ways including commercials, product placement, apps for Smartphones, ads, sponsorships for athletes and sport events. In order to become the number one sporting brand in the world, the group promotes its products through the use of the Internet, ‘Impossible is Nothing’ campaign and point of sale.
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Thus, the Adidas group has used the theoretical systems to create its brand building programs. The company has launched a sub brand of the equipment product line for the elite sportsmen. It continues to constantly improve sales and the brand image. The marketing mix of plays a vital role in sale increase and making of a brand name in the market. It is crucial for the company marketing to sell a correct price at a right place and with appropriate promotion. Adidas uses the marketing mix tool to enhance the image and to compete in the market.