Published by MBA Skool Team, Last Updated: January 07, 2018
Marketing Strategy of Reebok analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Reebok marketing mix, help the brand succeed in the market.
Reebok marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Reebok Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in Reebok marketing strategy can be explained as follows:
Reebok is one of the world’s most popular and well recognized sports brands. Reebok has its presence all over the world because it produces & distributes sports products & accessories. They have a vast range of goods in their marketing mix product portfolio for the customer segments that are men, women and children. The firm focuses on sports equipment, apparel, and footwear.
Apparel: Clothing has always been the useful concept of keeping pace with fashion and sport. Reebok’s luxurious fabrics and technology blend to provide the customer with maximum comfort. For children, Reebok Junior was established to provide designer clothing for children with style and movement. Reebok junior offers all sort of sports accessories related to children. Reebok Classic provides two categories of apparel, footwear, and accessories that are a classic and new classic. For men, they provide a plethora of products like an assembled tank, running shorts ,sleek odour free T-shirt , jackets, polo shirts, and sportswear. In the area of women's wear, they offer vests, shorts, T-shirts, training pants, sports tops and etc.
Footwear: Reebok has always been the king producer in this category with standard products such as Reetone, ReeGym, ReeZig, ReeTrain etc. Reetone footwear series uses mobile air technology. These shoes are for healthy people and cannot wear fitness shoes, and wearing the power of shoes to help muscle tone and development. ReeGym collection shoes are worn during training in the gym. ReeTrain from Reebok is positioned to help Strength Training of the body. This shoe is made to help make the muscles harder. ReeZig is a training shoe with a more durability and athletic ability. It has a visually appealing look and its ability to reduce the wear of shoes puts it in the grip of professionals.
Reebok Price/Pricing Strategy:
Below is the pricing strategy in Reebok marketing strategy:
To penetrate the target market successfully, Reebok came up with an idea of a standard pricing policy.
In the introduction to any new product, they keep low pricing strategy in their marketing mix, and as demand begins to rise they shift to regular pricing policy. This shows that the brand always followed the market strategy of skimming system when the company introduced new products in the market, and they set a high price for their premium products. As consumers start trusting the brand, the value-added pricing system is introduced, and this helps them to achieve fast revenue. Reebok always honours consumers loyalty by saying that quality of the product is the sole reason for the price hike. In many instances, Reebok has implemented an unusual destroyer pricing strategy to cope up with the growing popularity of its competitors like Puma and Nike. They either introduce sale season or set a meagre price that other companies can not match. This leads to an increase in their sales and a substantial increase in market share.
Reebok Marketing Strategy comprises of not only its Marketing Mix, but also segmentation, targeting, positoning, competition and analysis like SWOT. Also read Reebok SWOT Analysis, STP & Competitors
Reebok Place & Distribution Strategy:
Following is the distribution strategy in the Reebok marketing mix:
Reebok is Headquartered in Canton, USA & other offices in Mexico, Hong Kong, Canada and Holland. It has established its brand name very well by the creation and establishment of a unified retail environment in the distribution infrastructure. They have come up with an idea of the exclusive stores in the retail industry.Reebok has exclusive stores, factory outlets, and distributors. The company hire professionals to choose the location that best suits their outlet. Moreover, the situation of the company is quite balanced and the outlets are divided into limited edition shop, super sale shop and unique outlet. Reebok has a franchise organisation in India with more than 1,000 stores. It opened the world's largest Reebok showroom in Hyderabad. Through the online purchase system, the company has completely changed the notion of selling.
Also, they have presence with other ecommerce portals and apps like Amazon, Flipkart, Myntra and more.
Reebok Promotion & Advertising Strategy:
The promotional and advertising strategy in the Reebok marketing strategy is as follows:
To help consumers understand its offerings, Reebok has embarked on a fidelity promotional campaign. Reebok targeted many sportspersons from NBA, cricket, football, motorsports etc. as its brand ambassadors to show the association of sports and fitness with the products offered by them. Actors & actresses are also selected for Reebok Advertising campaigns. Reebok has also sponsored many sports events like IPL, Davis Cup, Spartan Race and etc. As a promotional plan, the brand focuses on both offline and online campaigns. Reebok keeps changing its tagline from time to time to promote its product in a unique way. Some of the famous taglines are "I am what I am," “pain is temporary Reebok is forever,” "have fun while running," "go to the gym with you." In the year 2004, Reebok changed its logo with an idea of positive change that fitness brings to a person’s life. It offers coupons, coupons, discount items to satisfy their consumers. Reebok uses a variety of other offline media platforms such as billboards, magazines, ads in newspapers, radio, and television to show the visibility of its products. This concludes the Reebok marketing mix.
Reebok is known for its quality footwear and apparels. It produces fitness, running and CrossFit sportswear, including clothing and footwear for sports and fitness enthusiasts. Reebok is Founded by JW Foster in England in 1895 and later expanded its network around the world. Currently, Reebok has created an independent identity for a comfortable, stylish and unique fashion image.
It became the subsidiary of Adidas in the year 2005. The headquarters are located in Canton, Massachusetts, and recently the company has announced that it would be moving its headquarters location to Boston.
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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