Site Loader

PART 1: EXECUTIVE SUMMARY  This report isall about to show a Marketing plan for PUMA’s products; with reference to olderofferings the report shows the plan that how can Puma offer new products in themarket. With respect to this the report contains comprehensive marketing plan componentsincluding company analysis (Puma’s current and future status), situation ormarket analysis and competitor’s analysis. The report shows the Puma’sobjectives and marketing strategies in terms of its 4ps that is it is shownthat Puma can offer and increase its product range by offering other relatedproducts as aerobic products to its customers and set value-based pricingstrategy accordingly, and for new offerings it can increase its other mediaother than commercials that is it can focus more on social media to promote itsnew products and it may expand its business in other countries as China,Middle-East, India, etc.  Puma distributes its products in more than 120 countries,employs more than 9000 people and generates revenue of $ 2.5 billion. Thepresent CEO and Chairman of PUMA is Jochen Zertz. PUMA is the main producer ofenthusiast driving shoes and race suits.

They are prime producers in bothFormula 1 and NASCAR especially. PUMA has partnership with Ferrari and BMW.        PART2.

MARKET ANALYSIS A.CompetitorsAdidas:    ·       Focus on core sports like soccer, tennis, athletics and skiing.·       Design and marketing departments are located in France andGermany.Nike:·       Number one sports brand in the world.·       U.S based administrative activities and design and productinnovation. SWOT ANALYSIS:Strength·       PUMAis very competitive organization.

·       Financialgrowth is phenomenal.·       Widearray of shoe-wear.·       Brandstands for quality, latest technology and prestige.·       GlobalBrand. Weakness·       Lessof advertisement.·       Focusedon footwear only·       Retailsector is very price sensitive. However, most of its income is derived fromselling into retailers.

·       Has poor conditions inwork places Opportunities·       Open more stores.·       Product development.·       Strong global recognition.·       Participate in global marketing events like World cup, Olympics,etc. Threats·       High competition·       imitation of products·       Sensitivity to price B. External Environment and Internal analysis  Political: There are worker rights and employeelaws which affect the Puma’s internal procedures.The surroundings legal issues affectit and are handled by Puma itself. Economic:Nike get sponsorshipfrom different other companies  Nike can be the way in creating new jobs when their higher growthin economyPuma get sponsorship from different othercompanies.

Puma can be the way in creating new jobs whentheir higher growth in economy.Social:Consumers are becoming more loyaltowards the brand and becoming brand conscious that can be advantageous forPuma.Changes in life style- healthawareness, sport participation which is increasing the demand of sport products. Technological:Throughtechnology it makes highly innovative products as shoe construction/ design.Itcan create mobile app and different facilities and website from which customerscan do online shopping through new digital trends. PART 3. OBJECTIVE•      To increase the 2-3% profitabilityin each of its product lines (10% annually) •     To Increase marketing communicationtactics •     To produce quality and low costproducts•     To meet the demands and requirements of target market•     To make sustainable development of product worldwide PART4: Marketing Strategy A.TARGETMARKETPuma has hugerange in its target market.

They have wide range of different products eachtargeting and appealing a specific group of people. They aim to meet therequirements of people of all ages belonging to varying categories. Thisstrategy has made this company to gain maximum number of customers and profit. Goals:•      To maintain its quality and make its easily available atevery marketable place.•      To meet the requirement of all type of customers (male, female,and kids)•       To meet the changing demands of customers. B.

Marketing mix (4p’s)Products :It has a wide range ofproducts such as foot ware, sportswear, sports goods, and fashion accessories.·        Sports shoes·        Custom made shoes·        Apparels·        Fancy shoes·        T shirts·        Tracks·        Boxers accessories·        Gloves·        Helmets·        Water bottles Price: The company has designed its pricing structure in a way tomake it competitive to other shoe sellers.The pricing is based on the basis oftarget customers  as a  premium  segment. Nike  brand  commands a  high  premiumThe pricing is based on the basis oftarget customers  as a  premium  segment. Nike  brand  commands a  high  premiumPuma’s product prices are affordable when compared to higherpriced competitors like Reebok and Adidas. Thepricing strategy employed is designed to offer competition to its rivalcompanies. Moreover, Puma normally uses premium pricing strategybecause Puma views its brand as premium.

Thus, Puma will be higher priced when comparedto a competitor like Bata.Adidas and Reebok are the only closest competitors for Puma, pricing of whom iscomparatively higher than Puma. Due to the brandname it enjoys, the pricing of Puma products look convincingmost of the times.     Placement:Puma shoes are mostly distributed to multibandstorefronts as well as the exclusive Puma stores that can be found in majorcities in the world. This necessitates a wider selection of shoes andaccessories to customers than the competition. With big distribution networkcoupled with harnessing resources and experience, it is a brand availablealmost everywhere.They have more than 18,000 retailers inUnited States and also in other 180 countries. Promotion: Location, targeted advertising in thenewspaper and strategic alliances serves as the foundation of PUMA advertisingand promotion effort.

The athletes and other famous sports personalities arealways taken as brand ambassadors. They form the prime building blocks of theirposition strategy.·        Discounts·        sales·        Excellent apparel packaging·        They sponsor events·        Many well-known athletes have also worked for theadvertisement of brand.  C.

Advertisements (TV, Radio, Poster, Tri-Fold)-It also sponsors football teams like Arsenal.-It also sponsors cricketers. IPL teams-PUMA supply equipment’s to four National Rugby league teams.·        Television commercials·        Online customization options·        Excellent apparel packaging·        Radio·        Billboards PART 5: Action Plan    A. Activity•     All implementation activities are to begin at the start ofthe next year. Adidas will continue to increase the number of Originals storesfrom 120 to more than 450 in five years’ time. •     Sportswear company Puma Group has unveiled its new, five-yearplan to focus on football, running, women, children and its Originals brand,according to the company’s statement.

•     To increases woman’s garments •     To increases kids football footwear by the beginning of 2018•     Summer cloths to be added  B. Responsibility ·        Jointlycommunicating the mission of zero discharge of hazardous chemicals to allsuppliers beginning immediately ·        Aimsto produce 50% of its products using sustainable materials by 2018·        Aimsto decrease energy, water, and waste·        Aimsto produce all kinds of woman garments·        Allsizes for kids will be available ·        To increases sales by 12%C.Schedule ·       By the beginning of2018 footwear sizes will be available.·       Will focus on reducinghazardous chemical from early-2018.·       Production for womangarments will be available from june-2018.·       Locations for pumasworldwide stores expansion july-2018. ·       Summer clothes to beavailable in may-2018·       aims to increasessafety environment by augest-2018      D.

Budget·       Kids collection –$140millon·       Summer collection – $200million·       Safety environment -$80millon ·       Expunction of location- $814million ·       Woman garments –$90million·       Promotional strategy -$400million·       Total budget ­-$2billion·       Operating income – $126million·       Expected profit -$1.2billion    E. Evaluation Thought comparison with pastfigures, the company will evaluate how the strategy affected the firm.Comparison of the past figure and status of the firm after strategyimplementation would help in determining what has change and what were theerrors of the strategy. It will give more than one point of view in analyzinghow the strategy changed the firm. The feedback would also give assistance inevaluating the strategy. It will provide alternative sources of information.

Post Author: admin

x

Hi!
I'm Dora!

Would you like to get a custom essay? How about receiving a customized one?

Check it out