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Transcript of Marketing
New Balance Minimus
Total Product Concept
"Barefoot Running Experience"
Nike Free shoes
Nike Free 5.0
New Balance Minimus
"The way in which the consumers perceive an organization, its products and its brands through the use of strategic planning to dominate a share of the market"
Targeting: Long distance runners, those who share the same attitudes as Anton Kupricka
Targeting: Loyal customers, new consumers in the market, hedonistic consumers
Segmentation: Psychographic, Behavioural, Demographic
Targeting: Loyal customers, those with limited information, higher disposable income
Need / Want recognition
Communication of a unique trait
Which running flat can improve your run?
Minimus Opinion leader – Anton Kupricka
Nike “Ultimate flexibility”
Adidas “Boost your run”
Nike Free brand is a running flats market leader.
With a dominant market share (54%) comes entrenched brand awareness.
Potential customers possess pre-existing knowledge and expectations regarding value and quality. (supported by survey findings)
- Resulting promotions based on creating awareness and anticipation regarding the new products pending availability.
- Can rely on consumers knowledge of previous offerings, reduces specific information
regarding the product offering presented.
New product/ technology with low awareness.
Some entrenched perceptions of quality regarding Adidas brand
Confidence in new Boost technology facilitating superior product offering.
Pursuit of superior offering leads to hybrid advertising.
Must focus on both creating awareness and anticipation whilst also providing information regarding the product offering to justify interest.
Inferior market share, has led to niche market targeting.
Heavy initial emphasis on product offering and comprehensive information.
Low anticipation creation due to inferior brand awareness and need to establish perception of quality.
Anton Kuprica Sponsorship epitomises niche market targeting.
Subsequent advertising aimed at creating product memory for future opportunities to participate in conventional anticipation and awareness advertising.
‘Branding is attaching certain associations and emotions to a company or some product or service’
- Essentially branding can lead to bottom line sales as consumers are influenced to buy a firm’s
products over another.
- Nike and Adidas provide the two market leading shoes in terms of brand awareness.
-New Balance lacks behind significantly in brand awareness
- Adidas and Nike have the largest brand equity figures on their balance sheets, when looking at intangible assets.
- New Balance has poor brand awareness, with consumers clearly favouring Adidas and Nike
racing flats over the New Balance Minimus.
- To improve this New Balance can look towards co-branding opportunities, in particular with pedometers and larger sporting vendors.
- Adidas and New Balance must advance existing systems to incorporate Boost/Minimus products.
-New Balance possess technology for greater extent of customisation.
- Incorporate a variable ‘last’ concept for greater product offering at the effective level of total product.
- Brand symbolism spanning across various product lines will increase communication reach and awareness.
- Adidas possess current potential. I.e. Supernova and Adizero range.
- Minimus, Free and Boost clothing lines can create communication mediums in previously unrelated product markets.
Product Line Extension
- New Balance again Lagging.
- Create system reflecting the offerings of Nike/Adidas via MiCoach and Nike+
- Technological potential exists within other products (New Balance Runner watch)
- System enhances product offering at augmented level whilst also increasing social interactions during purchase experience.
- Adidas/ Nike possess existing, well established systems.
Personal Performance Monitoring: