PROFILE• FACEBOOK LIKES 569,000• TWITTER FOLLOWERS 374,870• CHARITY EVENTS 25• SPONSERED ATHLETES 428• SPECIALIZING IN UNIQUE FOOTWEAR AND PERFORMANCE APPAREL AT APPEALING PRICE
TARGET MARKET• Reebok has specific lines to target each age group.• These lines target different types of athletes and ageReebok Classic- Trendy and older Reebok customers who like specific stylesReebok Rezig- New upcoming athletes who are looking for a performance breaking shoeReebok Women- Women who are into yoga and exerciseReebok Pumps- For shoe collectors who were into the popular 1990 basketball shoe the pump.
Threats in the Market-Fierce competitive environment (Directcompetitors such as; Nike, Adidas, NewBalance, as well as smaller competitors)- Economic Segment of the ExternalEnvironment specifically the economicCrisis Goals to Counter Threats -Customer incentives for repeat business -Create a community feel with Social Media pages in order to keep customers actively involved with Reebok
Increase the usage of Social Media to Target Potential CustomersSocial media is extremely important to accessing new customers and gain exposure.Keys to efficient usage of social media channels;- Experiment with new methods- Keep customers engaged with the usage of rhetorical questions and keeping up to date with new trends- Use promotional coupons through banner ads or tweets so followers can be rewarded- Facebook and Twitter pages should contain pictures of customers using the product as well as information with regards to promotional events.
Twitter Facebook - Re-tweet customers to gain -Pictures of current events with more followers relation to the product - Tweet athletes that are -Build relations with target sponsored and have these customer segment athletes reciprocate the -Read, respond and implement a action customer response section - Personalize the twitter page -Update frequently to increase (background, location) as personalization between Reebok well as tying the page to the Reebok home page and its customers -Give incentives for customers to - Follow customers that mention the product visit the Reebok Facebook Page -Use banner ads to direct - Offer incentives for customers to re-tweet Reebok customers to the Reebok site -Show pictures of customized shoes made by other customersDoing advertising on Facebook allows us to connect with to personalize the product.more than 800 million potential customers, choose thetarget audience by location, age and interests, as well astest simple image and text-based ads and use what works
With the competition in today’s market (customers having high buyer power) it isessential to establish “key words” that are commonly searched. These words willbe used to market directly to customers and lead them to Reeboks website insteadof other direct competitors.
• Market share growth and other financial measures• Website frequency (by # of customers)• Pay Per Click• Click Through Measurement• Followers on Twitter and Likes on Facebook• Usage of coupons
Budget This is a pretty inexpensive marketing strategy as setting up a Facebook and Twitter account is free. The main expense related to my marketing strategy will be related to coupons redeemed as well as advertising costs in relation to setting up banner ads on the two social media sites.With this in mind our Marketing budget should be: $500,000
TIMELINE1st Quarter- Expand advertising with Reebok athletes to promote the brand through Youtube. Start advertising customized shoes toward the target market on social media sites.2nd Quarter- Increase search engine marketing by optimizing key words to draw more attention to the Reebok brand (SEO and SEM)3rd Quarter- Advertise coupons through banner ads and update social media sites with recent creations by customers. Get involved on a more personal basis with customers and measure success this far.4th Quarter- Once the performance metrics are measured implement changes/continuations depending on the results. Increase promotions and coupons to customers and heavy reliance on social media channels that have been successful after the 3rd Quarter measurement.