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New Balance shoes


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Marketing Strategies for new balance shoes

Marketing Strategies for new balance shoes

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  • 1. Key Facts : - US based company Founded by William J . Railey. Mission Statement – To become worlds leading manufacturer of high performance athletic and active life style products operating in a socially responsible manner. Market share is 11.6% in US.
  • 2. Nike is the market leader in US, Adidas distant No.2 and New Balance closely follows it at No.3.  Very competitive market, with a range of $15 - $200.  Market growth is pegged at 5% annually  Market can be segmented by age.  All companies except NB
  • 3. Source –
  • 4. Place Product Promotion Placement • NB has its • Uses cutting • Has entered • corporate, c own outlets edge into several atwalk, spor and also technology licensee t, student, f supplies to and invests agreements un large heavily in and tie-ups runner, busy retailers research with moms, vega companies. ns. • It has • First shoes introduced company to • spends 7% • Shoes the get shock- on supplied are revolutionar absorbers in advertising of superior y EDI the shoes. quality and • Associates system to mid price with events enhance range ($60- such as distribution. $179) marathons
  • 5. Strength Weakness R&D Quality Presence in Overseas Strong Market presence in Market. US Design Distribution system In store Promotion Relationship with retailers Alliance and partnership Brand Positioning. SWOT Opportunity Threat Entry into New Intensive Markets. Competition. Mid Age Market And overseas Segment. competition.
  • 6. Designing and manufacturing process to maintain quality & standard of products Designing start with customers preference exceeding the customers need. Distribution & Partnership create good
  • 7. Direct to retailer and reach through out the location. Making good partnership by increasing their profit margin-EDI Reached the distributor to major retailer-Foot locker, champs , sport authority Faster replacement
  • 8. Taking benefits of distribution and existence brand Get market share in different segment which has created more sales- Franco apparel, eyewear's design , moretz sports Product portfolio management by introducing product life
  • 9. Changing preference and demographic profile of customer. Availability of quality products and changed of external environment. People who are targeting psychologically they are young but chronologically old. Trial-Tested- functional
  • 10. Product strategy is like a guideline which is useful to know where you are and where you want to be.
  • 11. The product level of New Balance is augmented The PLC management system The product mix: 1. product line 2. product width 3.
  • 12. The following differentiation of New Balance from other market leaders such as Nike and Adidas are:  Superior Quality  Perfect Fit( six to eight different widths)  Mid price Range  Technologically
  • 13. Branding is the major issue in product strategy. Developing brand requires a great deal of long term investment. Global branding is behind the success of a company , its all about how to manage a brand successfully and adding
  • 14. New balance is the functional brand which meets the need of everyday athletic and believe on total customer satisfaction. Brand positioning: New balance major target market is senior athletes and selective customers who believe in function over fashion. Brand Extension Line Extension Co Brands
  • 15. Innovation and Adapted Diversification Marketing Mix Advertising Success in International Market