Marketing Strategy of Puma analyzes the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). These business strategies, based on Puma marketing mix, help the brand succeed in the market. Let us start the Puma Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Puma marketing strategy can be explained as follows:
Puma is one of the leading sportswear and sports equipment companies in the world. Puma makes products for sports, fitness and lifestyle. In sports, it covers the apparels, shoes and accessories needed in Football, Cricket, Golf, Badminton and Motorsport. Puma also provides different products related to famous sports specific to the country the brand is located in. These products are available for men, women, and kids. The main products offered by Puma are:
Different products like Sneakers, running/training shoes, Soccer, Golf, Motorsport, Sandals, flip flops are made by Puma. These products are available for men, women as well as kids. For kids, they have the categories based on age, infant, preschool and junior. Puma brings latest shoes with innovative technology and makes the sports and activities easy for customers.
The latest example of this technology is Netfit, preceded by Bolt Collection, Arsenal, and Ignite etc.
Puma has an extensive line of T-shirts, Polos (in some countries), jackets, sweatshirts, Jerseys, tracksuits, pants, and shorts, all as a part of its marketing mix strategy. Again, the product line differs for different countries depending upon the demand of various countries. For example, Puma have soccer jerseys in UK, and cricket products in India.
Puma has a fully grown product line for running and training exercises.
Apart from apparels and shoes, Puma has also added various accessories related to sports and fitness to its product portfolio. These accessories include backpacks, bags, wallets, belts, caps, socks, bottles, wristbands etc. The major differentiation in Puma’s product mix is done with the help of latest innovations in shoes.
Puma Price/Pricing Strategy:
Below is the pricing strategy in Puma marketing strategy:
Puma has succeeded in placing the brand as a brave, confident and determined brand. Puma have direct competition from major established brands like Nike, Adidas and Umbro.
In order to tackle this competition, Puma has priced the products slightly lower than those of the competitors. This allows Puma to look affordable and acquire new customers. They provide seasonal discounts and loyalty benefits, in order to retain the customers and increase switching costs for the customers. Thus, Puma has the competition based pricing strategy, which allows it to look convincing to the majority of the customers. The brand has been identified as a premium brand. Puma shoes are available starting from $50, and going up to $600. This gives an insight in the pricing strategy in the marketing mix of Puma brand.
Following is the distribution strategy in the Puma marketing mix:
Puma is structured into 5 regions, Europe, EEMEA (Eastern Europe, Middle East and Africa), North America, Latin America and APAC (Asia and Pacific). Puma has three types of distribution channels, wholesale, Puma owned and operated retail stores and e-commerce stores. Puma has presence in more than 120 countries, employing more than 14,000 people worldwide. Puma maintains strong relationships with the main retail partners. They also jointly, with the retail partner Foot Locker, rolled out a jointly developed concept of Puma Lab in US and Europe.
In North America, they have a concept of ‘Shop in Shops’, special wall units and also in-store communications at some main sports accounts. With the growth on ecommerce, the company's official website as well as leading ecommerce platforms offers have become important channels for selling its products & accessories.
Puma Promotion & Advertising Strategy:
The promotional and advertising strategy in the Puma marketing strategy is as follows:
Puma, being a global brand, has an extensive marketing & advertising strategy. The promotion strategy for Puma is almost same across different countries. Generally international sports stars are appointed brand ambassadors. Puma has national brand ambassadors from each country of its presence. It has been endorsed by a number of legendary athletes, the list of which includes names like Michael Schumacker, Pélé, Joe Namath, Neymar and Usain Bolt. Puma has a long list of players from more than 30 countries endorsing the brand. Along with players, Puma sponsors various clubs, teams and associations across the globe as a part of its promotional strategy. To promote its women product line, Rihanna and Kylie Jenner walked on ramp flaunting Puma’s designer apparel and shoes. Apart from celebrity endorsements, Puma also launched various interesting and innovative campaigns to engage customers. One such campaign is the peel off sticker campaign as a part of “Run the Streets” campaign. During this campaign, they put 2000 stickers in the form of Puma’s logo in Bugis MRT station in Singapore. These stickers were offering 30% discount off the next Puma purchase. Along with television commercials and print media, Puma is also strongly present n digital platforms, and social media. Puma invests heavily in online promotion & digital marketing to increase its online sales. Hence this gives an overview on Puma marketing strategy & mix.
Puma is a brand known for its sports and fitness products in all categories including shoes, shirts, jackets, accessories etc. It has made its presence around the world by opening company owned stores and by franchise model. Puma was first established in Germany after the split between the shoe company of two brothers Adolf Dassler and Rudolf Dassler, from with Rudolf established Puma and Adolf established Adidas.
From there, the two brands have grown to provide one stop solution in apparels and shoes to sports and fitness enthusiasts. The Puma group now owns the brand Puma and Cobra Golf. The company has an annual revenue in excess of $5 billion globally.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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