In this case the core issue is Reebok needs to find a way to dramatically shift Reebok from a fashion athletic to a performance athletic brand through sports marketing and investment in high profile athletes, teams and leagues. Currently, Reebok is positioning themselves on the traditionally stronger consumer groups, which are the 25-29 and 18-24 who have the largest disposable income. Although they must start focusing on getting more male athletes to endorse their products, so they can catch the interest of younger children between the ages of 12-17.
The cost of athlete, team, and league sponsorships, have severely increased; although these elements became increasingly critical to reaching the 12-17 segment. Reebok’s share of this important 12-17 consumer segment had fallen since 1994, due to its athletes not being as inspirational and recognizing as Nike’s. According to exhibit 5. 6 the average price profile for “total athletic footwear” led the 12-17 consumer segments to be spending the most money on shoes.
This shows that Reebok must invest in more advertising in order to build a better audience in that target demographic, which could potentially lead to early brand loyalty. This would include involving some of the world’s most talented and identifiable sports personalities in order to attract the 12-17 segment and which would still keep the older segments interested. Due to Reeboks lack of advertising message consistency that led to a mixed and unclear consumer and retailer perception of what Reebok stood for, they must create an innovative advertising campaign that includes it as a fashion and performance brand.
Reebok is provided with many new opportunities that can help them market a new style of shoes. They are provided with new technologies, which can help them produce a new modern style of shoe, or a shoe for an athlete that no one has seen before. The best solution for the core issue to dramatically shift the Reebok brand through sports marketing and investment in high profile athletes, teams and leagues is to:
* Develop a new entertaining marketing campaign Use famous athletes that would interest every consumer segment * Spend more money like Nike on advertising * Take advantage of their technology that many competitors do not have * Develop a new innovative fashion performance footwear that is unique In conclusion, in order Reebok to surpass Nike they need to position their focus more on the 12-17 consumer segment through advertising, investing, developing an entertaining marketing campaign and fashion performance footwear, to gain the interest of the 12-17 consumer segment.
It is crucial for Reebok to gain that specific consumer segment, because this target market will create brand loyalty at a younger age that could potentially influence their purchase as they get older. In addition, Reebok would continue to with-hold their position with the older segment as well as gaining the future.
Courtney from Study Moose
Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/3TYhaX