Adidas Bold Product Promotion.Executive Summary.Adidas is arguably biggest brands in sporting goods all over the world. Their sports brand is established on a genuine love of both sports and lifestyle. The organization’s attention is targeted on the sport’s shoes consumers. Consequently, the company develops the quality, image, feel and look for the organization’s products and structures to assimilate and achieve the consumer’s expectations to provide them with an excellent value. The organization is unique in its innovations and leaders in designs that is aimed at assisting athletes of all types of levels and skills; these athletes attain top level performance with Adidas products. Since the company is committed to strengthening their brands and products in the competitive sporting goods market, they have rolled out Adidas Bold shoes. This product is created for both men and women athletes. They can be used for training in any sport. This paper presents a detailed product promotion strategy designed to promote Adidas Bold.
Statement of Need.
Since Adidas Bold is a new product in the market, there is an apparent need for product promotion if the product is going to sell. The product promotion strategy is essential in creating product awareness, market development, and market penetration. Athletes need to be aware of aspects such as the price, technology and use of the new product. Consequently, it is vital for Adidas to create product awareness for this product.
Project Description. As earlier discussed, the primary aim of Adidas Bold product promotion is creating product awareness, marketing penetration, and market development. The promotional strategy of Adidas will incorporate both push and pull strategies. The pull strategy comprises getting their clients to want to look for the product. This move will be done through product awareness. The company will advertise their products to athletes through the use of ways such as television, print media, radio and the internet. The information relayed through the latter promotional efforts will be emphasized on the Adidas Bold line and its value. This part will involve advocating its price compared to that of the competitors. On the other hand, the push strategy involves creating new markets for Adidas Bold by taking the shoes to the customer. This mission will be accomplished through seeking suppliers to stock the shoes, direct selling to clients and emphasis on packaging. These moves will enhance the product’s market scope.
Budget Analysis. The company itself will finance this product promotional task. The plan is expected to cost approximately $300,000. This money will go towards product awareness and creation of new markets through the methods addressed above. The graph below gives an approximation of how the budget will be allocated.
Figure SEQ Figure * ARABIC 1-Budget Allocation.
Organization Details.Adidas’ mission is to become the leading sporting brand in the world; its vision is to boost environmental and social performance in both the organization and the supply chain, in that improving the living standards of its employees. Its target market is all people involved in sports such as athletes. Its stakeholders include its employees, board of directors, government authorizers, suppliers, supplier factory workers, professional sports people, distributors, and retailers.
Conclusion.In summary, the promotional strategy of Adidas Bold will incorporate both push and pull strategies. Push strategy will be focused on product awareness while pull strategy will be focused on the creation of new markets. The budget allocations of the later tasks have been outlined above. If the company uses the plan given in this paper, Adidas Bold will be one of the most coveted shoe brands in the sporting industry.