Founded in England in 1895 as J.W. Foster and Sons, a manufacturer of track shoes Renamed Reebok in 1958. North American distribution rights purchased by Paul Fireman in 1979. Fireman and a few investors bought the parent company in 1984.
Vision Statement“Continue to bring inspiration to present and future athletes, while maintaining the companys standard of quality for its products.”Mission Statement“At Reebok, we see the world a little differently and throughout our history have made our mark when we’ve had the courage to challenge convention. Reebok creates products and marketing programs that reflect the brand’s unlimited creative potential. ."
1890-1930 J.W. Foster and Spikes of Fire in the 1890s, Joseph William Foster made some of the first known running shoes with spikes in them.1950-1980 A Gazelle Named Reebok, A Company on the Move In 1958, two of the founders grandsons started a companion company that came to be known as Reebok, named for an African gazelle.
1980‘s By 1981, Reeboks sales exceeded $1.5 million. In 1986, Reebok made its first strategic acquisition, The Rockport Company.1990s Reebok began a transition from a company identified principally with fitness and exercise to one equally involved in sports.
2000-10 Reebok and the National Football League announced an exclusive partnership that serves as a foundation of the NFL’s consumer products business. Reebok formed a long-term strategic partnership with the National Basketball Association. Reebok launched Rbk Hockey, a new and innovative line of ultra-high performance hockey equipment. In January 2006, adidas-Salomon AG acquired Reebok, forever altering the worldwide sporting goods industry landscape. Reebok launched ZigTech, designed to conserve and return energy to the athlete for a soft and springy ride.
2011-12 In 2011, Reebok formed a long-term alliance with one of the biggest fitness movements of our time, CrossFit. Reebok also announced its long-term partnership with producer, artist and designer Swizz Beatz. Reebok also launched RealFlex. Reebok India’s ex-MD, COO Bhagat arrested for fraud. In the news -Reebok Hires Lancaster MBAs To Work On New Branding Strategy.
The product line of a Reebok retail outlet generally consists of sports accessories. The product line is divided into four sections:1) Shoes2) Apparels3) Sports equipment4) Exercising / health products5) Personal grooming.
1) Shoes Reeboks specialty is their shoes. They vary from shoes for every day use to professional footwear. The outlet has around 4000 different types of shoes. The outlet also sells floaters and sandals which have gained a tremendous amount of popularity among the youth.2) Apparels These include T-Shirts & shirts, track suits, shorts, socks& caps which a quiet popular among teenagers , sportsmen and professionals.3) Sports Equipment Sport equipment includes like Cricket bats & balls, Tennis balls and gymnastic equipment.4) Exercising / Health Products It also sells exercising / health products like dumbles &weights, skipping ropes etc. Recently Reebok has launched its Iverson Collection .
This Reebok showroom is a speciality store and is a franchisee organization. The products are basically shoes , apparels, sports equipment, health products etc. The horizon of products is very limited, that is, there are only a few types of product. According to the need of customers, specialty store sare further divided into single-line stores, limited-line stores and super-speciality stores
Specialty Store: Narrow product line with a deep assortment , such as apparel stores, sporting goods stores, furniture stores , florists, and bookstores would be super specialty store ,clothing store would be a single line store and a men’s clothing store would be a limited line store.Franchise Organization: Contractual association between a franchiser (manufacturer, wholesalers, service organization)and franchisees (independent business people who buy the right to own and operate one or more units in the franchise system). Franchising has been prominent in dozens of product and service areas.
Winning companies will be those who can meet customer needs economically and conveniently and with effective communication. The marketing mix of Reebok has a focused market. It also has been campaigning on the product, price, promotion and place.
Marketing Mix TARGET Market Place Product ChannelsProduct Promotion CoverageVariety Price AssortmentsQuality Promotion LocationsDesign Advertising InventoryFeatures List Price Sales Force TransportBrand Name Discounts Public RelationsPackaging Allowances DirectSizes Payment MarketingServices PeriodWarranties CreditReturns Terms
Promotion includes all the activities thecompany undertakes to communicate andpromote its products to the target market.
Identity and image needs to be distinguished. Identity comprises the ways that a company aims to identify or position itself or its product. The Reebok symbol represents Vector – an animal similar to the Cheetah which runs very fast.
From a buyer’s point of view, each marketing tool is designed to deliver a customer benefit. Robert Lauterborn suggested that the sellers’ four Ps correspond to the customers’ four Cs.Four Ps Four CsProduct Customer solutionPrice Customer costPlace ConveniencePromotion Communication
R&D teams at Reebok create footwear, apparel and hardware with the primary focus being on fitness and training. Reebok Advanced Concepts (RAC) team, ensures specific concepts can be taken right through from initial idea to production. Reebok’s R&D activities are primarily located in Canton/Massachusetts, USA, with collaboration partners at Advanced Development Centres in China and Vietnam, which focus on new technology developments, cutting-edge materials and treatments and manufacturing solutions.
Strength The firm can predict the shoe market and come up with products that will create market. Diversifies its products into the competitive market. New technology makes the firm to be able to make better shoes. The top firm in the shoe industry. Utilize market research and development and try to find out consumers preferences. Able to enter into different markets and to gain market share from it.
Weakness Reeboks current position in the apparel industry is not strong. Go for too many segments, so company cant handle all of them well, and it may cause company to loss its market in the long run. Put the company operation oversea may get company potential risks. The companys non-Reebok brand footwear may be potential competitor for itself.
Opportunity The market is big, and the increasing demand is expected. Produce oversea will help company to cut down its cost on labour, and generate more margins on its products. Newer Technology development or innovations can help company to get more profit and market share on its future products. Extend its distribution network via its own subsidiaries or individual distributors will increase Reebok s future sales.
Threats The industry is controlled by fads and the fads are nearly not predictable. Reebok facing strong competitors in the casual market, and competitors products are trendy, fashionable, and fleshy. Rapid changes in technology and consumer preference that can occur in the footwear and apparel markets constitute significant risk factors in the Companys operations. The Companys other product lines also continue to confront strong competition .
40 Main Footwear Factories in 8 Countries 600 Apparel Factories in 29 Countries 450 Raw Material Suppliers 27 Freight Forwarders • Transportation modes include Ship, Truck, Rail and Air 34 Custom Brokers Over 5,000 purchase orders placed each month