Rather than simply releasing a product and waiting to see if the demand is there for it, firms should be conducting market research beforehand in an attempt to find out whether there is: a) A demand for a product and b) A gap in the market for the particular product if the firm releases it. Through marketing research we can save a whole lot of expenses. Furthermore, it will also help us to know about our customers’ tastes and preferences. We can convey surveys to them, and get knowledge about our clientele, whether he product will appeal to them or not. And according to that, we can perform the operation of producing the new inventions. Products offered by Adidas: Adidas has a wide range of sports wears all over the world. Some of the products Adidas offers to its customers are: *
Foot wears specially structured, differently for each and every sport like: soccer, basketball, running, jogging, indoor and outdoor games, etc. * Sportswear particularly designed for men, women and kids, for domestic and international sports tournaments. Vests specifically cut out for different sports people and genders. * Body care products for both males and females. * Watches for both genders. * Different styles of stylish wear for distinct seasons. * Sportswear for untrained customers essential for their training. Adidas’ mission is to be the leading sports brand in the world. One major lever to achieve this is the brand’s broad and unique product portfolio spanning from apparel and footwear for professional athletes to premium fashion.
The Essay on Sports Salaries
Most people in America feel that pro athlete's salaries are too high. Current sports salaries are reaching astronomical figures. Players are signing 50 million-dollar contracts and up just because they happen to be pretty good at hitting a baseball. Just the other day Kevin Brown signed a contract worth over 100 million! Now pro sports are fun to watch and follow, but college games entertain just ...
It allows Adidas to address multiple consumer needs, exploit market opportunities from various angles as well as be less affected by one-dimensional market risks. Adidas’ commitment to product innovation and its rich heritage differentiates the brand from competitors and provides a solid platform for future growth. Adidas strives to achieve their best not only in distributing their goods to consumers in good shape and quality, but also developing the goods according time to time and achieve consumers’ attraction and their pleasant feedbacks in the future.
Moreover, the development of a strong competitive advantage has been Adidas’ major concern, and this is further emphasized by the existence of a large number of heavyweight competitors operating in the athletic clothing market, in the names of Nike, Puma, Reebok and others. Taking into consideration the fact that a company’s competitive advantage is established on the concept of added value, Adidas is directed at making marketing efforts towards producing quality products, which lasts for longer time, for its customers.
Adidas has been a hugely successful business enterprise right from the moment of its establishment. Adidas was able to be successful in the market because of its inventions and creations and most importantly, developing of its existing products. The high degree of orientation to technological development has created the expected added valued for customers, especially through the Company’s policy to provide them with the necessary technological applications, for example high performance sports shoes, in order for specific customer needs to be met.
While technological superiority of its products is the primary factor of market penetration for Adidas, intense and targeted marketing promotion is the second most important ingredient of its recipe for success throughout the globe. One of the very essential elements of its promotion process is its brainstorming scheme to associate popular celebrities and sports superstars in promoting their products.
The Essay on Ansoff's Product Market Grid
The Ansoff product-market matrix helps to understand and assess marketing or business development strategy. Any business, or part of a business can choose which strategy to employ, or which mix of strategic options to use. This is one simple way of looking at strategic development options: Each of these strategic options holds different opportunities and downsides for different organizations, so ...
Therefore, customers appreciate the attention given to their products by the celebrities, and tend to do the same, by buying their products. Furthermore, by listening to customers carefully and closely, conducting market research in regular intervals, handing out consumer satisfaction questionnaires in stores, online and on market streets, Adidas as well as its customers will enjoy extra added value the company itself, will generate bigger profits, and customers will get exactly the attention and moreover, the products they want.
Besides, the close cooperation with celebrities and top athletes who work together with Adidas to produce better, high performance apparel, shoes and other sports products is a major factor towards the successful coordination of the research and development and the marketing departments, resulting in innovative products, generating higher sales and company growth and development.