Marketing Report for New Balance Company
MARKETING REPORT
FOR
New Balance Company
(Minor Assignment 2)
Table Content
1.0 Introduction 2
2.0 Marketing Segmentation 2
2.1 Demographic 2
2.2 Geographic 3
2.3 Psychographic 3
2.4 Behavioral 4
3.0 Targeting 4
4.0 Positioning 5
1.0 Introduction
Footwear industry in China was lucrative, since there was an increasingly number of people buying brand shoes and increasing franchising opportunities, most shoes companies are expanding, thus the competition between shoes companies in the same market share becomes more and more fierce. (Arms, 2003) For New Balance Company, In order to maintain a substantial amount of market share, to target several suitable segmentations is vital. Those profitable segmentations can make New Balance Company become more competitive among its competitors such as Nike, Adidas and Reebok. In the following section, different potential segmentations will be classified and discussed by analysing different group of customers’ characteristics, needs and wants.
2.0 Marketing Segmentation
This is the first step in the marketing strategy. New Balance Company uses four main segmentation bases for dividing their market. Those bases are demographic, geographic, psychographic and behavioural.
2.1 Demographic
New Balance Company offer similar products in different versions according to the age and life-cycle segmentation. Under the same style shoes, New Balance may offer small size shoes for children, and offer bigger sizes shoes to adult men and women. Also, marketers will offer some shoes designed particularly for one specific segment of the age cycle, such as most mature clients look for comfortable; fairly price, classic styles, good quality shoes, so New Balance offer the classic style shoes to those kind of people. (Rooyen, 2009)
2.2 Geographic
New Balance Company is changing the nature of geographic segmentation by using the
FOR
New Balance Company
(Minor Assignment 2)
Table Content
1.0 Introduction 2
2.0 Marketing Segmentation 2
2.1 Demographic 2
2.2 Geographic 3
2.3 Psychographic 3
2.4 Behavioral 4
3.0 Targeting 4
4.0 Positioning 5
1.0 Introduction
Footwear industry in China was lucrative, since there was an increasingly number of people buying brand shoes and increasing franchising opportunities, most shoes companies are expanding, thus the competition between shoes companies in the same market share becomes more and more fierce. (Arms, 2003) For New Balance Company, In order to maintain a substantial amount of market share, to target several suitable segmentations is vital. Those profitable segmentations can make New Balance Company become more competitive among its competitors such as Nike, Adidas and Reebok. In the following section, different potential segmentations will be classified and discussed by analysing different group of customers’ characteristics, needs and wants.
2.0 Marketing Segmentation
This is the first step in the marketing strategy. New Balance Company uses four main segmentation bases for dividing their market. Those bases are demographic, geographic, psychographic and behavioural.
2.1 Demographic
New Balance Company offer similar products in different versions according to the age and life-cycle segmentation. Under the same style shoes, New Balance may offer small size shoes for children, and offer bigger sizes shoes to adult men and women. Also, marketers will offer some shoes designed particularly for one specific segment of the age cycle, such as most mature clients look for comfortable; fairly price, classic styles, good quality shoes, so New Balance offer the classic style shoes to those kind of people. (Rooyen, 2009)
2.2 Geographic
New Balance Company is changing the nature of geographic segmentation by using the