A marketing plan is a crucial part of any business strategy. It outlines the actions a company will take to reach its target audience, promote its products or services, and achieve its marketing and sales goals. Reebok, a leading global athletic footwear and apparel company, is no exception. In this essay, we will discuss a hypothetical marketing plan for Reebok.
First, let's consider the target audience for Reebok. As an athletic brand, Reebok's primary target audience is likely to be individuals who are interested in fitness, sports, and an active lifestyle. This could include professional athletes, amateur sports enthusiasts, and people who regularly engage in physical activity for health or leisure. Reebok may also want to target specific age groups, such as younger consumers who are interested in trendy and fashionable athletic wear, or older consumers who value comfort and functionality in their athletic shoes and clothing.
Next, let's consider the marketing channels that Reebok could use to reach its target audience. Some potential channels for Reebok could include:
Social media: Reebok could use social media platforms like Instagram, Facebook, and Twitter to engage with its target audience, share brand content and products, and drive traffic to its website. Social media is a particularly effective channel for targeting younger consumers, who are more likely to be active on these platforms.
Sponsorship and partnerships: Reebok could leverage its brand by partnering with sports leagues, teams, or individual athletes. This could involve sponsoring events, creating co-branded products, or featuring athletes in marketing campaigns. Sponsorship and partnerships can help Reebok reach a wider audience and build brand credibility and awareness.
In-store and online marketing: Reebok could use in-store displays, signage, and other marketing materials to promote its products and drive sales at brick-and-mortar retail locations. Reebok could also use email marketing, online banner ads, and other digital marketing tactics to reach consumers online.
Public relations: Reebok could use public relations tactics, such as press releases, media appearances, and influencer partnerships, to build brand awareness and reputation. This could involve showcasing new products, highlighting company initiatives or philanthropic efforts, or telling brand stories that resonate with consumers.
In addition to these channels, Reebok could also consider using traditional advertising methods such as television, radio, and print ads to reach its target audience.
Finally, let's consider the specific marketing campaigns and tactics that Reebok could use to achieve its marketing and sales goals. Some potential campaigns could include:
New product launches: Reebok could use marketing campaigns to promote new products, such as the release of a new line of athletic shoes or clothing. These campaigns could include online and offline advertising, social media promotions, and in-store marketing efforts.
Sales and discounts: Reebok could use marketing campaigns to drive sales and clear inventory by
Reebok's Marketing Strategy For Millenials & GenZ
They are also able to go online if they do not find the color that they like and they can purchase from the Reebok website. . However, there will be a greater emphasis on the health benefits to the older generation, as this is a major appeal. . The best price strategy for the RealFlex shoes is the At-Market Pricing Strategy.
Should You Run Barefoot? Aside from television, another mode to advertise to consumers is through magazines like that are specific to fitness and popular culture. . . Retrieved October 5, 2011, from runnersworld. Then, Reebok will offer several pairs of shoes for free to retail stores such as Dicks Sporting Goods and Sports Authority.
Donations to Charity as Purchase Incentives: How Well They Work May Depend on What You Are Trying to Sell. . . The least used promotional element will be direct marketing, as the cost of communication through mail and telephone. Every year New Balance creates a new and updated product with all the latest in technology. Reebok also prices its shoes to be around the average market price which helps to increase market share.
In addition, Reebok will give two extra free pairs to each trainer so that they can use them to give away to a couple of lucky gym members. The top feature of the footwear lies in the sole of the shoe where there are 76 individual tread sensors. It outlines the companys Strengths and Weaknesses, and the markets Opportunities and Threats that pertain to the product Wikipedia, 2011. . As barefoot shoes are a want and not a need, the economic crisis may have people think twice before buying.
It is evident that consumers in both target markets, college students as well as the older generations, are concerned with their health. . . This brand targeted particular people who are interested in CrossFit, Martial Arts, etc. Shoe packaging tends to be generally more functional than appealing to the consumer as the shoes can sell themselves Packaged Facts, 1998. Reebok would make the shoes as appealing to the consumer as possible.
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. Essentially misleading consumers can cause them to be cautious of the Reebok label and they may instead choose to shop elsewhere. . This market will include college students between the ages of 18-24 who are adventurous. Reebok wants to convey to consumers that it is concerned with their health and it is dedicated to improving their athletic abilities through the use of the Realflex shoe. The At-Market Pricing Strategy achieves objectives and enhances profits.
This is a means to also build good will among potential consumers and entice potential runners into competing. . The company hire professionals to choose the location that best suits their outlet. There are very few sponsors associated with Reebok which does not help to make it well known Mercer, 1996. .
This reduction in weight helps shave off seconds on a runners time. Different highlights incorporate lightweight materials, breathability, and the capacity for clients to tweak their pair of shoes. Each company then segments its product lines to better satisfy the many different customer needs Tufts University, 2006. . Generational Marketing To help support this new drive for the Millennial and GenZ dollar, Reebok is also introducing its first ever loyalty program. Increase shoe health awareness by 15% within one year. The shoes will be placed in major chains, like Dicks Sporting Goods, Sports Authority, and Reebok stores themselves.
The actions taken by the FTC and SEC are meant to protect consumers. In regard to the marketing objective of increasing sales by 10% over the next year, Reebok plans to place its product in gyms by giving a pair to local trainers to act as opinion leaders and encourage boomers to purchase them. . Retrieved November 2, 2011, from Forbes. In a lot of ways it is the way to get a seal of approval as a product.