New Balance 827 Sneakers for Active Lifestyles

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New Balance

New Balance manufactures a wide variety of shoes and apparel for athletes as well as non-athletes. They include running shoes, basketball shoes, baseball shoes, regular sneakers, and apparel. We are determined to create change by influencing the lives of underserved communities by enhancing their access to education and healthcare (New Balance, 2022). Every individual has a right to participate in sports activities. We are focused on amplifying all voices to positively impact the sports industry (New Balance, 2022). Environmental protection is a priority at New Balance, which means that all products are made using sustainably sourced materials.

The 827 Sneakers

The 827 sneakers are low-profile sneakers that have captured the interest of consumers in the recent past. The product features three main colors, each of which is representative of a specific season (Willson, 2020). The sneaker bases are fairly neutral and each silhouette features different accents. The first features cobalt blue overlays at the tips, toe, and rear, while the atomic yellow variant features pink sock liners, outsoles, and splashes of color through the mid-foot (Willson, 2020). The final variant features specks of pink across the lace hoops, heels, and midsole against a neutral white.

Target Market

Game-changers

The 827 sneakers are primarily designed for game-changers, who are youthful consumers between the ages of 14 and 24 (World Advertising Research Center, 2018). These individuals do not like being advertised by obscure brands and are immensely influential. It is worth noting that these individuals are digitally savvy and passionate about sports. In addition, they spend a significant portion of their time on social media platforms, assessing and commenting on various product pages (World Advertising Research Center, 2018). Their affinity for technology and the internet makes them a suitable segment to attract using organic as well as paid-for strategies.

City-dwelling Adults

The 827 sneaker also appeals to socially minded city-dwelling adults (World Advertising Research Center, 2018). These individuals have a preference for ethically sourced sporting goods and services. Issues such as environmental conservation and the promotion of minority rights are their key focus areas. The aforementioned demographic is also digitally empowered and significantly opinionated (World Advertising Research Center, 2018). Even though most of the individuals in this group are busy with their careers, they often dedicate some time to exercise activities. Finally, they are attracted to stylish products that reflect their personalities.

Sales Promotion: Buy 1 Get 50% off the Next Pair

The Buy 1 get 50% off the next pair of shoe promotion will run for a five-week period. Clients who purchase a pair of 827 sneakers will get a coupon for 50% off their next purchase of regular-priced shoes at any New Balance store. It is important to let the consumers know the exact conditions under which the coupons apply, and this will be emphasized in the poster. Consumers will be allowed to take advantage of their coupon immediately after they make a purchase or any time within the five weeks allotted for the promotion.

The sales promotion will be announced to potential customers through various social media channels. While all available platforms will be utilized, more attention will be directed to Facebook and Instagram, given the target market’s affinity to the platforms. The company’s official website will also feature the promotion and include a comprehensive explanation of terms and conditions. Paid promotions such as Google Ads will also be used to increase the promotion’s reach. The poster will employ attractive brand imagery to attract game-changers as well as city-dwelling adults.

Strengths

The balanced nature of the promotion will significantly reduce the level of risk. The offer is sustainable, given the fact that it runs for a limited duration. There is potential for profit given the fact that a significant sense of urgency is created in the short term, triggering a significant rise in sales. In addition, new clients are likely to purchase the 827 sneakers because of the promotion, thus widening the consumer base. By transferring products to consumers, the company will incur significantly lower inventory costs (Li et al., 2022). The accelerated sales cycle is also immensely beneficial for the business.

Weaknesses

The promotion is likely to prompt customers to delay their purchases as they wait for deals. In addition, the offering is likely to trigger price wars with competitors who are interested in attracting the same clients. The nature of the deal is likely to make clients question the quality of the products, which may negatively impact the brand’s reputation. The additional costs associated with advertising and poster design are a disadvantage. A significant investment in design is necessary to appeal to the target market. Finally, the effectiveness of social media platforms is not guaranteed.

Research for Public Response

Surveys are an effective research modality that can be used to evaluate the level of public response. Some of the metrics that indicate either positive or negative reception are sales volume and overall profit margins. The aforementioned measures can be achieved through a scientific assessment of the organization’s balance sheets. Consumer survey reports are an essential indicator of the public’s response to a promotion. They highlight the elements in the promotion that succeeded as well as those that failed to appeal to clientele. They help assess consumer satisfaction and are a key indicator of the public’s loyalty to a brand.

Media Buzz

The promotion was featured in numerous sporting magazines, which are popular among individuals with active lifestyles. It was also popularized among social media influencers on various platforms. The offering was also mentioned in a number of sports-related blogs. The promotion was particularly popular on YouTube where the number of views and comments were indicative of a high degree of public interest. More interest was also noted on Instagram, where a large number of consumers liked the promotion and were excited about the 50% discount. Similar enthusiasm was reported on Facebook and other social media platforms.

Recommendations

The implementation of digital options that bring products to customer locations is critical. In addition, framing advertisements in numerous interesting ways expands their reach. Search engine optimization allows the chosen brand to expand its reach and awareness among target consumers by enhancing the effectiveness of advertisement campaigns. Partnerships with social media influencers increase the organization’s visibility and improve trust in the products, given the fact that audiences trust the recommendations made by the aforementioned personalities. It is often the case that media mentions and good press are good for business.

Research for Future Marketing Decisions

Effective research is necessary for the implementation of innovative solutions in a constantly evolving business environment. An in-depth understanding of market forces facilitates the creation of value for consumers. Consumer insight techniques such as surveys provide critical information that is vital for monitoring changing preferences. They also provide vital data on market trends that influence marketing practices. Consumer satisfaction reports significantly impact product design and marketing strategies. It is essential to understand what the consumers need and design products that meet prevalent market requirements and standards. All the aforementioned research and analytics options will impact future marketing decisions.

References

Li, Y., Khouja, M., Zhou, J., & Wan, G. (2022). Dynamic pricing and procurement with buy-one-get-one promotions. SSRN Electronic Journal, 1–50. Web.

New Balance. (2022). Our purpose. Web.

Willson, T. (2020). New Balance releases new 827 colorways. Hypebeast. Web.

World Advertising Research Center. (2018). New Balance targets “gamechangers”. Web.

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