Marketing Strategy and Core Marketing Concept and Market Segmentation of Adidas Paper Example

Paper Type:  Essay
Pages:  7
Wordcount:  1797 Words
Date:  2022-11-20

Introduction

Adidas is the biggest sportswear producer in Europe also among the largest company in the entire world. Adidas Company has four brands that include Reebok, Rockport, Adidas, and Taylor. Adidas is cable of maintaining its brand essence by emphasizing its products values. The portfolio divisions are as follows:

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Performance of Adidas in a competitive sport, Reebok classic, and Reebok in casual games and active sports, Adidas fun, Adidas Original, Rockport in fashion Sports.

Core marketing concept of Adidas Needs

Adidas Company believes that most customers need choice. Hence, the team implemented a many brand plan which enables them to oncoming opportunities from many perspectives as a niche and mass players. Presence of unmet wants is a precondition to take sales processes in Adidas marketing plan. Marketing tends to satisfy the customers wants. Needs tend to be psychological and creates tension that is released by using products that are met by Adidas Company.

Wants

According to Adidas Company marketing and branding policy, the brands are capable of keeping a unique identity and focusing on its main competencies which simultaneously provide the group with a comprehensive product of spectrum. International marketing is important in the group at its quest to generate profits while survival lies in the created presence world global market. Wants in some way are the chances to satisfy a given need to a client to satisfy products of Adidas. Total consumer satisfaction wants lies on the availability of options that are better which Adidas Company have the quality to present before the consumers.

Demand

Adidas tends to influence the demand for its products by making them more affordable, attractive, and easy to access. Marketing management deals with a demand for timing and managing quantum. Demand is the need for a particular product that is supported by a willingness and the ability to buy the products. Its expression is based on time relation. Not all requirements are channeled through demands. The needs that are backed by a willingness and ability to purchase turn to demand.

Products

Products also are known as the bundle of satisfaction, psychological and physical. Products comprise of the core product, related product features, and associated product services. Adidas Company ought to consider benefits of services and products, instead of the actual product and this is carried out to satisfy the over the assessment of the product.

Utility, Cost, and, Satisfaction

The utility is the general products capacity to sustain wants and needs. Choosing a product is a guiding concept. Each product has a different percentage of utility; products may be rated from the highest need sustaining to the lowest need nurturing. Since it is a market-oriented company, Adidas keeps identifying the needs of its consumer to make sure the Company achieves the needs of the customers. It targets to go beyond customers' expectations. It is this kind of focus to the consumers; build up with marketing innovation and products that have played a significant role in the success of Adidas.

Exchange, Transaction, and, Transfer

Adidas marketing management tends to reach the preferred exchange of its consumers. The trademark Adidas needs the marketing emerges only at a point where individuals need to satisfy their wants employing good sports products to the sport's brand Adidas. Exchange is able to be done when using five situations are satisfied. There ought to be at least two parties; Every party have got something that has value to some other party; Capability of every party to communicate and deliver; Every party have the freedom to reject or accept the exchange; Every party believes it is worth to work with other parties.

Relationships and Network

Current's marketing practice of Adidas offers more significance to relationship building with the prospect players. Marketing practice of Adidas founded on relationship building can be considered as relationship marketing. Relationship marketing is the practice of building continuing cost-effective or substantial relations with first parties like purchasers, dealers, distributors, and, others to maintain their long- term inclination in business. Adidas attempts to establish long- term trusting and wi- win associations with valued clients, contractors, and, distributors. Relationship marketing requires trust, assurance, teamwork, and, the high magnitude of comprehension. A network is the outcome of relationship marketing where Adidas usually develop innovation for these clients and prosperous leader of the international market.

A market, Marketing, Marketer, and, Prospect of Adidas

Marketing is a social and managerial activity by which persons and parties access what they need and desire through developing and substituting items and value with others. A view is something to which the supplier identifies as possibly willing and able to participate in the exchange. Generally, purchasers of Adidas who purchase from a firm to realizing his longing and need can be considered as a prospect

Market segmentation of Adidas

Adidas Company uses various styles and plans to target youths, adults also children that have an interest in sports and fitness. However, it targets customers from 13 years to 40 years, the majority falling between the ages of 15 to 30 years of age. They majorly come from the middle class and the luxurious classes. A successful organization has proper marketing plans, which are segmented strategically. The market is very important to the company. Adidas Company sells to athletes worldwide, the company markets to both amateur and professional athletes. The segments are very important in the marketing plan. Every market is unique in a way so the organization should be wise enough in choosing the best one. The role of marketing segmentation is to allow the sellers to expand into marketing changes to achieve the wants of other segments. Generally, markers apply marketing segmentation to divide bigger markets to small sections depending on the individual characteristics, groups, and locality. Adidas Company is the largest producer of sportswear in Europe and the second largest in the entire globe carries out marketing considering buying attitude and practices of various individuals. The sellers formulate different program every buyer. Adidas majorly concentrates on psychographic and demographic segmentation. Therefore, Adidas developed its brands in three different segmentations.

Demographic Segmentation

Demographic segmentation represents grouping the market into categories centered on demographic variables such as gender and sex. This technique has long been utilized in the clothing industry (Alipour & Sabzikaran, 2018). Adidas Brands products into a series of male, kids, and, female, as per age and life sequence segmentation and gender segmentation. Adidas has a trademarked collection of female and male clothing, shoes or body- care and eyewear. The three brands of Adidas are originals, performance, and, styles.

Psychographic Segmentation

Psychographic segmentation is the segment that used to divide the market into categories founded on lifestyle, social class, or, personality traits. Adidas concentrates on social class since individuals within a given social class incline to have related buying nature. Besides, organizations utilize income, family and, ethnic life cycle segmentation has to differentiate their market, but Adidas keeps it a little less complicated and more widely extended, so the brand is marketing to many various individuals all over the world.

Marketing Mix

For most firms the marketing function is essential for survival. The Chartered Institute of Marketing defines marketing as a management process accountable for defining, predicting, and fulfilling the needs of customers. This definition highlights the primary purpose of marketing functions. Which are to compete in a competitive marketplace, to define and foresee customer needs and then realize these needs, and, to reinforce profit. As a market-oriented company, Adidas continuously determines and appraises consumers' wants to ensure its products realize these needs. It targets to outdo consumer anticipations by adopting its product portfolio to attain the adjusting needs of customers. It is focused on its consumers, teamed with products and marketing innovations, which serves a key role in Adidas's success. As one of the most important footwear and sports producer, Adidas have witnessed a good portion of difficulties. The Company began in 1936 and posed to be the oldest in the globe. In 80s, Adidas faced challenges from Nike Company but later overcame the challenges by targeting youths and sports fanatics.

Products in the marketing mix of Adidas

Adidas is recognized for its outstanding products more so for the sports-oriented persons. Adidas Company has up to four brands. One is its name, Adidas; this is currently present in footwear and clothing across the world. Reebok is the second in a chain. It has overtaken Adidas brand, and it is the leading in Adidas Company. Thirdly, Rockport, which categorically dwells with outdoor footwears, apparels also accessories. Finally, Taylor made that is concentrating on golfing equipment and clothes.

Overall, Reebok is the leading followed by the Adidas brand. Adidas has different products. The footwear forms its main product, which is in different designs and style mainly athletic. Other products are apparels and accessories. The target of Adidas is to provide its customers with the best footwear that has both design and technology. The products are not grounded on need, and buyers want to satisfy their desires.

Pricing in the marketing mix of Adidas

Of its style, scheme, and, campaigns practices skimming prices as well as reasonable pricing makes its brand unique. For the run of the mill products, Adidas utilizes competitive pricing keeping in mind competitors like Puma, Reebok, and, Nike. But for items that are newly introduced in the market and are exclusively designed, Adidas utilizes skimming price. Apparel's of Adidas always employ skimming price and are higher priced because of brand equity of Adidas in the apparel's industry. The aimed market for Adidas is the upper middle class and high-end purchasers. The higher price point assists in the price-quality strategy, and psychologically, purchasers think that a higher price will simply an improvement of quality as well. Hence, Adidas seldom depreciates its costs.

Promotions in the marketing mix of Adidas

Adidas markets through different marketing channels but the majority of marketing is focused on television and product placement. The innovative team of Adidas is known to stimulate adrenaline in their customers through ads which are excellently designed to communicate effectively to the clients. These ads appeal to their clients towards the brands by sending the right marketing message to the purchaser. The tagline of Adidas is "Impossibles nothing" is in itself a very influential statement that reinforces the brand. Next television is product placement. Adidas brand has gained popularity because, its brand has a close connection to the top players in the world such as Lionel Messi, Sachin Tendulkar, and, Ronaldinho. Moreover, Adidas funds sport teams of which some of those teams manage to top. Those teams include France Great Britain, Real Madrid, England, and South Africa (in cricket) among many others.

Place in the marketing mix of Adidas

The firm has adopted a striving global strategy to distribute its products to the clients with a robust focus on measured space comprising; e-commerce, own- retail business, shop-in-shop, joi...

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Marketing Strategy and Core Marketing Concept and Market Segmentation of Adidas Paper Example. (2022, Nov 20). Retrieved from https://proessays.net/essays/marketing-strategy-and-core-marketing-concept-and-market-segmentation-of-adidas-paper-example

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