SWOT Analysis of New Balance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis
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New Balance |
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Parent company |
New Balance Athletic Shoe, Inc. (NBAS) |
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Category |
Apparel and accessories |
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Sector |
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Tagline/ slogan |
Let’s make excellent happen |
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Usp |
New Balance brand is known for its shoes which come in different varieties |
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New Balance STP |
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Segment |
Sport enthusiast men, women& childrenlooking for apparel and shoes |
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Target group |
Young men women and kids from the upper middle class segment |
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Positioning |
Premium athletic footwear and apparel meeting the needs of the everyday athlete. |
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New Balance SWOT Analysis |
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Strengths |
1. New Balance shoes come in various sizes and length for different choices with customization 2. New Balance has many other sub brands dedicated for other sports or other purposes. 3. The company has been a part of several philanthropic efforts since past many years 4. The company claims their shoe boxes are made of recycled paer and they use environment friendly procedures while making products 5. New balance has sponsored teams and players in the Olympics, cricket, Australian Football League and NBA 6. The company has a century of expertise in the industry 7. Strong brand presence and marketing through online ads, ecommerce platforms etc 8. More than 5000+ people are employed with New Balance |
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Weaknesses |
1. New Balance has limited market share growth because of global competitors 2. Limited presence and marketing in emerging economies |
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Opportunities |
1. New Balance is very well-known brand in US and can leverage that to grow worlwide 3. High brand saliency and the positive affirmation from consumers has influenced demand in domestic market and the neighboring countries 4. Aggressive marketing and online presence can boost the business of New Balance |
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Threats |
1.Other brands offer more styles and cuts 2.Similar products available in other brands thus switching cost is less 3. Threat from other leading competitors can reduce market share for New Balance |
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New Balance Competition |
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Competitors |
1.Nike 2.Puma 3.Converse 4.Fila 5.Adidas 6.Reebok 7.Bata |
The brandguide table above concludes the New Balance SWOT analysis along with its marketing and brand parameters. Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry.
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