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Strategic Marketing

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Report on Strategic Marketing

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Introduction

Strategic marketing refers to the method by which an organisation appropriately distinguish themselves from their competitors. It is based on its strength of both type current and potential which help company in providing better products and services as compare to its competitors (Cadogan, 2012). This assignment is based on Adidas, which is founded in July 1924 by Adolf Dassler. It is a multinational organisation whose headquarter is in Herzogenaurach, Germany which design and manufacture cloth, accessories and shoes related to sports. Respective company going to launchakanksha.kumari new variety of shoes in American marketplace. Topics explained in this report are marketing mix, CBBE model and integrated communication mix and its method. Along-with this it explain measures which respective company can take to be successful.

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Adaptation and standardisation of marketing mix

Marketing mix refers to the method of keeping the right products and services or combination of both at a right place, at right time and at right price which help a company in attracting their target audiences (Wardrop and Robertson, 2015). Effective marketing mix plays an essential role in succession of a business unit because by it they can develop their strength and avoid weaknesses and so on. Marketing mix represent by 4 P's ( product, price, place and promotion) which is for marketing and 7 P's (product, price, place, promotion, people, process and physical environment) which is for service marketing.

Adidas which is a sportswear company planning to launch new product in American market. The new shoes variety which is launch by respective company is made up of waste materials like plastics bottles and straws. These running shoes are ultra comfortable, light weight, stylish and friendly for environment. Adidas plan to launch these shoes in American market because Americans are more attracted towards new technology and unique products. For market evaluation respective company use 7 P's of marketing mix which is explain below:-

Product- The respective company sells huge range of sportswear like clothing, accessories and shoes. Now they are introducing new shoes which is made up of waste plastics material which have several features like-

  • It is ultra comfortable and light weighted running shoes .
  • It is stylish and come in two colours: white with pale, purplish and light blue and navy or light blue.
  • It has knit upper facility which help in flow of air and keep feet form get overheating.

Price- Adidas is a one of the reputed sportswear brand which serve their products worldwide (Aghazadeh, 2014). They offer their products range at pricing rate that based on product quality. According to new launch running shoes which is made of waste plastics are available at $200 per pair in American marketplace.

Place- Adidas serves their products and services in worldwide market on different prices rate. For launching new variety of shoes that is made of plastics waste, the respective company basically target on American marketplace. Reason behind launching new product in respective country is that, audiences of this country are more attracted to new innovation and technology and they more likely to buy products which has unique feature.

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Promotion- For launching new range of shoes respective company use various attractive promotional platform such as social media, print media, Tv advertising and so on. Social media channel include various channel such as Instagram, Facebook, You Tube, Twitter and many more and by it they can easily reach and attract more customers.

People- For respective product Adidas hire employees and then provide training to them so that they do their task in effective and appropriate manner. They hire staff which are hard-working, knowledgable, experienced etc. which help them in achieving their goal in effective manner.

Process- The respective company user waste plastics materials for manufacturing process which reduces cost of production. Adidas design process plan which is easy to execute and reduce cost of production.

Physical evidence- The physical evidence which is design by Adidas for respective running shoes attract customers and encourage them to buy product. For this they design ambience and interiors related to the products.

CBBE Model

Customer based brand equity model is also know as Keller's brand equity model and it help business unit in creating brand stake by understanding customers and applying strategies respectively (Mahajan and Kashmiri, 2015). If there is effective connection and communication among customers and company it will result in positive and appropriate brand equity and provide wide advantage to the company. In CBBE model there are four steps which is represent in pyramid with four fundamental questions which customers will ask related to the brand. Explanation of CBBE mode in respect to Adidas is given below:-

Step 1- Brand Identity- Who are you?

Adidas is a multinational corporation which offer their products and services in worldwide market. They provide variety of sports footwear, sports accessories, personal care products and clothing. The products provided by respective company are of high quality. A company can improve their brand equity by improving their advertising and mode of communication with customers.

Step 2- Brand Meaning- What are you?

This step include two elements that are performance and imagery of a company. The performance of Adidas is consider as effective and best. They provide good quality sports products which is reliable, sustainable and durable (Gordon and French, 2012). For effective imagery respective company associate with successful and popular sportsmen and take part in sports events like world cup.

Step 3- Brand Response- What do I think or feel, about you?

Respective step also include two factors that is judgement and feeling. Judgement of customers in respect to Adidas is they provide high quality products in affordable price. Sports wear and shoes of respective company are of best quality and durable. Associated feeling with Adidas is that it provide excitement, fun and self respect.

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Step 4- Brand Resonance- How much of a connection would I like to have with you?

It refer to the resonance of Adidas with their customers. For which respective company provide facility of online chat through which customers and athletes can contact to company and share their feeling, problems and issues related to the products.

Integrated Communication Mix and method

Integrated marketing communication is refers to the method which ensure that all type of communication and messages are linked or connected together carefully (McLean, 20122). It is refers to the combination of promotional tools so they work together in a effective manner. The IMC is beneficial for Adidas in following manner:-

  • Increase brand awareness- By doing effective IMC respective company can enhance brand awareness and loyalty of customers their company. By using this Adidas con covey same message to large potential end users which attract and encourage them for buy the products.
  • Customers Satisfaction- When Adidas effectively doing IMC they will connect with customers by using promotional channels like social media. Through which customers feel connected towards the company and feel satisfy with their services.

Their are various marketing communication methods which help company in reaching their potential target customers. Some major of them which is use by Adidas are given below:-

Advertising- It refers to the method of communication marketing which is in paid form of representing ideas, products or services (Katsikea and Kehagias, 2015). It is most effective ways which help respective organisation in reaching huge audiences in short time period. Their are several advertising mode which Adidas can use such as newspaper, television, radio and so on.

Sales promotion- It refers to the method which is done through by providing discount coupons, loyalty club, membership coupons, attractive packages, specially designed deals, incentives and so on. Adidas can use this method because through this they able to attract more more customers through which they enhance their profit.

Digital marketing- By using digital marketing method a company can connect or communicate to their end user in effective and appropriate manner. Their are various tools which respective company can use such as marketing thorough email, text messages, catalogues, brochures, promotional letters and many more. By this they able to reach customers directly.

Measurement of success

Their are various ways through which a company can evaluate and measure its success and then make plans and strategies accordingly. Example of measurement tools of success are sales target, market shares, profitability, returns on investment and so on. By measuring success of an organisation, their management can make plans and strategies which help them in improving the future (Theodosiou, 2016). Some major tools use by Adidas for measuring their success are given below:-

Market share- It refers to the percentage or ration of an industry or total market share which is attained by an organisation over a particular period of time. The market share of a company is calculate by taking overall sales of a company within a time period and divide it with total sale of particular industry in same period of time. By evaluating the market share of the company Adidas can calculate and identify its percentage of success in the respective industry.

Profitability- It refers to the capabilities of a company to generate or gain profit from conducting its operations and functions. It another word it represent the ability of a firm to utilize resources in effective manner so that they can generate profit out of it. Respective company can calculate its profitability by evaluating two key aspects that are revenues and expenses.

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Recommendation

It can be recommended to Adidas that if they do above mention method and strategies in effective manner they can achieve goal and objective in effective manner and able to earn more profit. Respective company can use social media for their advertising camping because by it they can reach or cover more audiences and customers. Through it they can communicate with their end users in effective manner and their customers can also share their problems and issues through social media channel.

Conclusion

From the above discussed point it can be conclude that when a company wants to introduce new products in a any market they have to do market evaluation and analysis. Through which they can make or design plans and strategies accordingly which help help them in attaining target in effective manner. By conducting marketing mix a company can evaluate their strength and weakness in effective manner. When a company want to identify their brand equity in the marketplace they can conduct CBBE method. A company do IMC method by which they communicate message to large audiences and there are various tools which are to measure success rate of a company.

References

  • Wilson, R.M. and Gilligan, C., 2012.Strategic marketing management. Routledge.
  • Proctor, T., 2014.Strategic marketing: an introduction. Routledge.
  • West, D.C., Ford, J. and Ibrahim, E., 2015.Strategic marketing: creating competitive advantage. Oxford University Press, USA.
  • Sargeant, A. and MACQUILLIN, I., 2016. Marketing for nonprofit organisations. InThe Marketing Book(pp. 555-576). Routledge.
  • Shank, M.D. and Lyberger, M.R., 2014.Sports marketing: A strategic perspective. Routledge.
  • Foxall, G., 2014.Strategic Marketing Management (RLE Marketing). Routledge.
  • Quinton, S. and Fennemore, P., 2013. Missing a strategic marketing trick? The use of online social networks by UK charities.International Journal of Nonprofit and Voluntary Sector Marketing.18(1). pp.36-51.
  • Malshe, A., 2013. Strategic sales organizations: transformation challenges and facilitators within the sales–marketing interface. InStrategic Sales and Strategic Marketing(pp. 89-108). Routledge.
  • Vellas, F., 2016.The international marketing of travel and tourism: A strategic approach. Macmillan International Higher Education.
  • Theodosiou, M., Kehagias, J. and Katsikea, E., 2012. Strategic orientations, marketing capabilities and firm performance: An empirical investigation in the context of frontline managers in service organizations.Industrial Marketing Management.41(7). pp.1058-1070.
  • McLean, F., 2012.Marketing the museum. Routledge.
  • French, J. and Gordon, R., 2015.Strategic social marketing. Sage.
  • Kashmiri, S. and Mahajan, V., 2014. Beating the recession blues: Exploring the link between family ownership, strategic marketing behavior and firm performance during recessions.International Journal of Research in Marketing.31(1). pp.78-93.
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