Whether Opening Retail Stores in China Is a Good Move for New Balance Essay
Whether Opening Retail Stores in China Is a Good Move for New Balance
1.Do you think opening retail stores in China is a good move for New Balance? Why or why not? Answer: Yes, I think it is a good move for New Balance. There is no doubt that China is a huge market for any products. In sports shoes field, Competitors like Nike and Adidas have hundreds million dollar sales at this market every year, which means there are huge potential and opportunities in this market. Comparing to the sales of other companies, New Balance decided to expand their market share by developing some effective marketing strategies and tactics. Opening retail stores in China is a smart move for the company.
2.New Balance calls its new retail stores “Experience Stores”. In your opinion, what does the company mean by “experience”. And how does that experience translate to sales? Answer: In this case, experience is a promotional concept which intends to deliver the message about the company’s century-long heritage and accomplishments through evoking all five of senses when customers walk in the store, and then making the purchase decision. This is a very successful brand creating and brand promotion. With its charming brick walls, wooden display windows, nostalgic old telephones and iron chandeliers, the interior décor creates a sense of subtlety, which captures the legacy and essence of New Balance.
Listening the “be-bop” background music and smelling the oak scent, customers have a “total sensory experience”. They are not only amazed by the rich heritage of the company, but also arouse the strong feeling and interest towards the products that the store provides. The marketers perfectly blend the rich history with the brand. And also accurately utilize the influence of the senses on consumer’s behavior. It makes customers have their own senses and experiences through walking in the store. The desire of having a pair of this brand shoes would be stimulated. The reflection of the whole experience is to buy it.