Reebok Marketing Plan

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Reebok Realflex|
By The Breezers:
Mannan Wu
Abbey Barnes
Chase Carraro
Mohammed Baamer
Deborah Dani Dylan

By The Breezers:
Mannan Wu
Abbey Barnes
Chase Carraro
Mohammed Baamer
Deborah Dani Dylan

Final Marketing Plan|
Professor Quinlan-Wilder
November 16, 2011
Marketing 2800
Professor Quinlan-Wilder
November 16, 2011
Marketing 2800
|
|

Executive Summary

Reebok prides itself on creating products to enhance athletic ability. Upon formation of the company, Reebok has been dedicated to making athletes faster. Since then, Reebok has evolved into the world’s second largest maker of athletic apparel and is a leader in the shoe industry. Now Reebok will pave the way with its answer to the latest craze in fitness and in running. The Reebok Realflex will dominate the competition through altering some aspects of the marketing mix and introducing the Realflex shoe as a healthy shoe meant to better consumer fitness.

Taking into consideration the SWOT analysis, which pinpoints Reeboks can improve and the things Reebok are already doing well, the target markets can be better identified and the marketing mix can be better modified. When looking at target markets, Reebok has narrowed its markets to college aged adults interested in maintaining fitness, and individuals between 40-65. To the younger target market, Reebok needs to convey enhancing the athletic performance. To the aging population, Reebok needs to establish that using their product will enhance health. By modifying its current marketing mix Reebok can meet the needs of consumers.

Price will be at the median range of shoe costs as that makes the most sense for our target markets. Reebok wants to provide an affordable shoe that does not cost as much as other barefoot running shoes, but offers all the health benefits of natural running. However, too low of a price lowers the value of the product in the minds of buyers and will be detrimental to business.

While price plays an important role in marketing the Reebok Realflex, placement of the product will be where Reeboks competition is located. The shoes will be placed in major chains, like Dick’s Sporting Goods, Sports Authority, and Reebok stores themselves. In addition, Reebok will plan to give pairs of shoes to major gym chains, like 24 Hour Fitness, and let the trainers try the product as a way to recommend it to the desired target markets. When the shoes are in displays, the Realflex must be “front and center” to grab consumer attention from the moment they enter the store.

Aside from price, promotion of the product will be one of the most vital keys to the Realflex success. Reebok will reposition themselves in the mind of their desired consumers. Though Reebok often uses testimonials and vibrant color to catch attention, the new promotional strategy will also focus on the concern that Reebok has for the health of consumers and for enhancing their performance. In many ways the new promotional strategy relies on correcting previous errors of the company (Easytone) and in a discrete way build trust among consumers who use Reebok products and shape them into loyal repeat customers.

The most important component of the marketing mix is the product. Reebok has created a product for the sheer purpose to better the health and improve the athletic ability of consumers. It is clear that Reebok believes in the product it has created. There is science to confirm the fact that natural running has numerous health benefits and does enhance athletic performance. Reebok has made a product where science meets style, and satisfies the needs of consumers. It is imperative that Reebok convey this genuine message to consumers. Doing so will build Reebok into a better business, increasing its market share, overall growth and profit. Table of Contents

Introduction3
Situational Analysis4
The Company4
Current Marketing Mix4
Features and Benefits5
Current Product Life Cycle5...
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