The New Balance Sneakers Product Marketing

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Table of Contents

Brand Information
Evaluation of the Current Brand Positioning
Marketing
Market Segments
Audience
SWOT Analysis
References

Brand Information

The company’s name is New Balance, and its origins began numerous years ago. Its owner, William Riley, noticed good stability and balance of the chicken (Brodeur & Assche, 2018). With a bit of research, he realized that the main reason was the structure of her paw, which has three points of support. Impressed by the simplicity of this solution, he developed a supinator that would create support for the heel on three points (Brodeur & Assche, 2018). Due to this technology, the firm began to gain public recognition. Managers of New Balance are convinced that local production is much easier to control (Deepak & Jeyakumar, 2019). It allows the company to produce all products without loss in quality and provide jobs for the local population.

Evaluation of the Current Brand Positioning

New Balance works under the motto of shoes that are suitable for absolutely everyone. The company does not attract celebrities to advertise its products and focuses on ordinary consumers with a certain income level. This strategy is excellent, and the brand’s popularity increased so much that everyone who follows fashion began to consider sneakers New Balance an integral part of the closet (Brodeur & Assche, 2018). Numerous celebrities started to wear these shoes for free, thereby provoking the growth of their popularity among the masses.

Marketing

Among the proposed positions of staff should be listed the following:

Head of a department
Marketing and advertising manager
Analyst/web analyst
Contextual advertising specialist
SEO Specialist
Programmer
SMM specialist
Copywriter
Designer

Duties of the members of the marketing team include:

Writing a marketing plan;
Market research;
Positioning the brand of the company;
Promotion of the company;
Pricing;
Assortment policy of the company;
Generation of new ideas and ways of development;
Analysis of marketing activities.

Market Segments

Market segments for the sale of sneakers can be divided into three categories. The first is geographical; it is essential to adapt sneakers to different cultures and lifestyles to meet the needs of regional consumers. Psychographic segmentation is to provide a variety of products and sneakers that meet the interests and standards. Young people mainly prefer footwear because it is a fashionable lifestyle with high quality, and they would like to follow this trend. Finally, behavioral segmentation supplies advantages because they provide an active lifestyle with comfortable shoes.

Audience

The company’s target audience is people who exercise regularly and those who will dress for a fashion trend that pairs well with modern footwear. New Balance should make different shoe colors so that its target customers can find the pair that fits best. Moreover, people in the community are achieving healthy lifestyles and are starting to exercise more and eat healthy foods; people are running or exercising today. It is essential to knead these changes and produce shoes that meet customers’ needs. To analyze their behavior, surveys will be conducted, and a system of feedback possibilities will be implemented, based on which it will be possible to trace the typology of customer behavior.

SWOT Analysis

Strength

A strong brand
The brand and logo are among the most recognizable in the world.
Huge customer base
Reputation as a fighter for global goals
Legendary partnership with celebrities
Enhanced brand portfolio
Low-cost price
Strong professionals in the hiring
Expert professionals and the internal R&D department
Successful marketing campaigns

Weaknesses

Limited market share growth because of global competitors
Limited presence and marketing in emerging economies
High dependence on one market

Opportunities

Potential for the development of new markets/li>
Expansion of the innovative product line
Products with innovative technology in mind.
Ability to integrate with manufacturing companies to streamline the supply chain

Threats

Similar products available in other brands thus switching cost is less
Threat from other leading competitors
Pressure on marketing budget
Currency risks

References

Brodeur, S., & Van Assche, A. (2018). Nike versus new balance: trade policy in a world of global value chains. International Journal of Case Studies in Management, 12(4), 103-108.

Deepak, R. K. A., & Jeyakumar, S. (2019). Marketing management. Educreation Publishing.

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