Published by MBA Skool Team, Last Updated: January 19, 2019
Marketing Strategy of QuikSilver 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 QuikSilver marketing mix, help the brand succeed in the market.
QuikSilver marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the QuikSilver Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
The product strategy and mix in QuikSilver marketing strategy can be explained as follows:
QuikSilver is a popular sports apparel brand especially made for water sports, snow boarding etc. QuikSilver has created an in image of quality product, brand with high moral and ethical standards which attracts the consumers to purchase its product. The company has a wide range of offerings in its marketing mix product portfolio depending on type of sliding sport, apparels for men, women and kids, sunglasses, watches, bags & caps, footwear, belts and many more. The products have a high -end technology, better quality and more comfortability. QuikSilver create product by using eco-friendly methods. In the apparel’s sections, it has variety of clothes such as swim suits, T shirts, sweaters & jackets. The product has a trendy design to appeal to the youth.
QuikSilver Price/Pricing Strategy:
Below is the pricing strategy in QuikSilver marketing strategy:
QuikSilver has adopted the premium pricing strategy to target the upper middle class and upper-class youth of the society.
As QuikSilver is a sports brand, people generally come to purchase the products when they want to go for vacation or for short adventure. At that time, they try to purchase the better-quality product and do not hesitate in spending more money. They also provide sales discounts frequently to attract customers during the festive and summer season. Sometimes, QuikSilver prices change according to the country and its economy in which it is operating. In those countries, the quality of the products may also decrease as the prices are also decreasing.
Following is the distribution strategy in the QuikSilver marketing mix:
QuikSilver has presence in five continents like Asia, Europe, Africa, North and South America with more than 800 standalone retail stores. It has also partnered with third party retailer to sell its product which has increased its presence across the world. Its biggest store is at Dubai with the widest range of product. They have adopted extensive distribution strategy to cover better market and maximize the consumer base.
QuikSilver also distributed through independent shops who are aligned with their specialization in sports.
QuikSilver Promotion & Advertising Strategy:
The promotional and advertising strategy in the QuikSilver marketing strategy is as follows:
Being a high-end brand, QuikSilver utilizes multiple methods to promote its product. It has an online site where it constantly advertises its product through sales promotion. It has groups on Facebooks, Instagram and Twitter who constantly shares videos and photos of people enjoying sports which motivates other people to go for vacation. With the help of this they, try to sell its product. It also organizes annually surf competition like QuikSilver Pro Finance and Roxy Pro Gold coast to promote its brand. As a part of traditional promotion, they also provide sales discount and partnered with famous personalities to promote its product. Hence this completes the marketing mix of QuikSilver.
QuikSilver is a surfer clothing and snowboarder outwear manufacturing company founded by Alan Green and John Law in 1969 in Torquay, Australia. Today, it is the world’s largest surfing boards producer. The logo of QuikSilver consist of snow-capped mountain and a cresting wave. The core values of QuikSilver are authenticity, innovation, pride confidence and belief in itself which boosts its employee morale to create better products every day. With time QuikSilver also expanded its product portfolio by offering snowboards, footwear, apparels for both men and women, accessories like bags, watches, caps belts etc.
In 1990, QuikSilver created its subsidiary brand called Roxy for young women. In 2015, the company filed for bankruptcy and became part of the Boardriders group.
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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