The introduction of a new product is challengeable and even such large companies as Adidas may face substantial difficulties, while introducing new sport shoes. The successful introduction of the new sport shoes by Adidas needs the elaboration of the marketing plan, which sets goals, methods, strategies and describes all steps the company has to undertake to introduce the new product. The marketing plan should be flexible. In addition, the company should develop an effective promotional campaign, based on the use of celebrity endorsement to attract customers and to introduce the new product successfully.
Introduction of new Adidas Sport Shoes
The introduction of a new product, such as sport shoes by renowned brands, such as Adidas, need a well-developed marketing plan to ensure the overall success of the new product. In this regard, the introduction of new Adidas sport shoes may need the celebrity endorsement, including the involvement of sport stars to promote the new product and to attract more customers.
Definition of Marketing Plan
The marketing plan plays a crucial part in the introduction of the new product. The marketing plan lays the foundation to policies and strategies conducted by Adidas to introduce and sell successfully its new sport shoes. The marketing should include key steps from the introduction of the new product to its successful implementation and analysis of outcomes after the introduction of the new product. In such a way, the marketing plan defines the introduction of the new product and allows the company to maintain control over its implementation. However, a good marketing plan should be flexible enough to allow the company to introduce the change.
Marketing Plans: an Example of Success
Adidas has proved to be quite successful in the introduction of its marketing plans. For instance, the company has opened a large new store at Tysons Corner Center, where the company offers a variety of its products. The size of the store is larger than Adidas traditionally uses for sales of its products. Therefore, the opening of the new store of such a size proves that the company has started to overcome negative effects of the economic crisis and soon the company will recover completely to regain its position and to increase its sale rates (Retail stores show signs of life, 2009). At the same time, the company maintains a positive brand image, which is renowned at the international level because today Adidas is one of the most popular brands of sportswear and shoes in the world market. Therefore, the company can use the full potential of its brand image for the further international market expansion and promotion of its new product (Retail stores show signs of life, 2009). Nevertheless, today it is still unclear whether the opening of the new store is the sign of the total recovery of the company after the economic crisis or probably this is a provisional improvement which may soon ends up in the new downturn in the development of Adidas. The company still has made the first step toward the recovery, which needs a strong back up (Retail stores show signs of life, 2009).
Marketing Plans: an Example of Failure
Marketing plans are not always successful. In fact, it is possible to refer to numerous cases of failure of marketing plans focusing on the introduction of new spot shoes. In this regard, even such behemoths of sportswear industry as Adidas can face substantial problems and risk of marketing plans’ failure. For instance, the poor promotional campaign can lead to the failure of the new product. The poor management can be also a reason to failure. However, the change in the market environment is a particularly widely-spread cause of marketing plans’ failure.
Analysis of Examples
In fact, Adidas and its rivals have proved to be quite successful in the development of marketing plans and introduction of new products. Traditionally, Adidas, as well as its major rivals, such as Nike, sponsored significant sport events, championships, and other events. The sponsorship contributed consistently to the promotion of the company’s products and this strategy has proved its high efficiency. At the same time, sponsorship attracted the attention of the target customer group the company was focused on (Fisher, 2002). This strategy brought considerable benefits to the company.
At the same time, the company used celebrity endorsement to make its marketing plans successful. The celebrity endorsement was another effective tool to promote new products of the company and to develop a positive image of the company making its brand recognizable. In this regard, it is worth mentioning Reinhold Messner endorsement, which Adidas used to promote its products and position its brands as the choice of top sportsmen of the world. Reinhold Messner endorsement was particularly efficient in marketing terms in the course of the Olympic Games in Salt Lake City (Feitelberg, 2010). The celebrity endorsement increased the popularity of the brand.
The Box Office Flop: a Marketing Application
In fact, the company paid a lot of attention to sport events and endorsement sport stars to promote its products. In this respect, it is possible to refer to the example of the celebrity endorsement used by Adidas. To put it more precisely, the company uses NBA stars to attract the audience to its products. The company attempts to reach its target customer group through the development of positive public image and using the attractiveness of celebrities and a profound interest of the public to celebrities. In addition, celebrities can influence customer choices because customers often follow the lead of celebrities, especially if they are so popular as stars of NBA New Jersey, which the company has used recently in terms of its celebrity endorsement program to attract more customers and to improve its marketing position (Pallerino, 2010). In such a way, the company enhances its position in the market and can introduce the new sport shoes successfully using celebrity endorsement and accurate but flexible marketing plan.
Marketing Analysis: What Went Wrong?
The main problem causing failure of marketing plans is the poor promotional campaign and failure of the company to meet needs and wants of customers. In this respect, the company should develop its marketing strategy on the ground of the detailed analysis of the current marketing situation to assess needs and wants of customers. In addition, the company should use its strategy of celebrity endorsement that will contribute to the high attention of consumers to its products. The inability of the company to position the product properly may lead to its failure. At the same time, the endorsement of a wrong celebrity can undermine the brand image, especially if the celebrity becomes unpopular in the public eye. Therefore, the company should implement efficient strategies that meet needs of customers and create a positive brand image that will stimulate customers to buy new sport shoes of the company.
Thus, taking into account all above mentioned, it is important to place emphasis on the fact that the effective marketing plan can contribute to the successful introduction of the new sport shoes by such companies as Adidas. On the other hand, such giants as Adidas should not ignore careful and detailed elaboration of the marketing plan because the marketing plan is an essential condition of the successful introduction of the new product in the market. In such a way, the company can succeed with its new product but it needs to develop the effective marketing plan and continue its strategy of celebrity endorsement.
Feitelberg, Rosemary. (2010). “Adidas’ Outdoor Line Coming Back.” WWD: Women’s Wear Daily, 2(1), 27200:132.
Fisher, Eric et al. (2002). “Are High-School Sports Keeping the Right Company?” Insight on the News, 28(2), 1518:13.
Pallerino, Michael J. (2010). “Turning Up the Heat.” SGB, 36(2), 1243:6.
“Retail stores show signs of life.” (2009-04-24). Washington Times, The (DC), 6(1).