Marketing Essay

1676 words - 7 pages

Marketing Assignment

Product

The product I am going to design and develop is a brand extension of REEBOK. I am going to design and develop a REEBOK. Mini-disc player. It will aim at 18-26 year olds. I have chosen this certain age group because of the research carried out. From my research I can conclude that the age groups are interested in owning a mini disk player because of many reasons e.g. style, size, price etc.

I have chosen REEBOK. because they are quite popular among the target market I have chosen to aim. REEBOK are among one the well known brands in the world, shortly after NIKE. Consumers are interested to REEBOK products because of their designs, quality and logs. Reeboks prices tend to be a little cheaper then their main competitors Nike, Adidas and Puma. You can see this from the research table below:

LOGO PRICE
Reebok £25-£56
Nike £46-£150
Puma £28- £60
Adidas £35-£55

We can clearly see that Reebok set a price just below the main competitors, this is because they know consumers will want to buy products but still at a cheaper price and still have the satisfaction of buying a good brand name product.

Brief history on Reebok

Reebok's United Kingdom-based ancestor company was founded for one of the best reasons possible: athletes wanted to run faster. Therefore, in the 1890s, Joseph William Foster made some of the first known running shoes with spikes in them. By 1895, he was in business making shoes by hand for top runners; and before long his fledgling company, J.W. Foster and Sons developed an international clientele of distinguished athletes.
In 1958, two of the founder's grandsons started a companion company that came to be known as Reebok, named for an African gazelle. In 1979, Paul Fireman, a partner in an outdoor sporting goods distributorship, spotted Reebok® shoes at an international trade show. He negotiated for the North American distribution license and introduced three running shoes in the U.S. that year. At $60, they were the most expensive running shoes on the market.
By 1981, Reebok's sales exceeded $1.5 million, but a dramatic move was planned for the next year. Reebok would introduce the first athletic shoe designed especially for women; a shoe for a hot new fitness exercise called aerobic dance.
The shoe was called the Freestyle™, and with it Reebok anticipated and encouraged three major trends that transformed the athletic footwear industry: the aerobic exercise movement, the influx of women into sports and exercise and the acceptance of well-designed athletic footwear by adults for street and casual wear.
Explosive growth followed, which Reebok fuelled with product extensions--new categories in which it also became a leader. The Freestyle is now a "Classic" and is the best selling athletic shoe of all
In 1979, Paul Fireman, a partner in an outdoor sporting goods distributorship, spotted Reebok® shoes at an international trade show. He negotiated for the North American distribution...

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