Answered You can hire a professional tutor to get the answer.
Write a 12 page essay on Strategic Marketing.Download file to see previous pages A brand is also considered to be a trademark or a product line. It is a distinctive name, which addresses, or identifie
Write a 12 page essay on Strategic Marketing.Download file to see previous pages
A brand is also considered to be a trademark or a product line. It is a distinctive name, which addresses, or identifies, a product, service, or a manufacturer. People purchase a certain brand in order to acquire a distinctive category and to show ownership of the brand that they favour.
Companies must develop a marketing strategy. This process consists of coming up with a foundation (a basis) in which to work from. By creating a marketing strategy, companies can create an identity. This identity will be the trademark that used repeatedly in all communications in order for the company logo and message to be known by others. A company's brand, or otherwise known as a trademark or logo/motto, helps to differentiate the company from others and to provide uniqueness. It is suggest that there are four marketing constituents that must be considered and understood when creating a marketing strategy. The marketing components offer the foundation and basis for the brand strategy. The four components are as follow (Developing Your Brand Strategy,
To begin developing a marketing strategy, a company must first define its brand. Defining a brand creates a framework or foundation for every other factor to build on. Adidas' marketing strategy was to focus on the rapidly growing sector of sports and retail. The company does not market sports but markets through sports. Although the two are quite similar and connected by the use of sponsors, marketing through sports involves employing communications in the communication process. An example is to market through an even such as the World Cup. This works tremendously as organisers of the event usually allow only one sports company to represent them (i.e., the official sponsor of the World Cup). Other companies are doing the same thing by incorporating Adidas into their marketing strategy. Even companies that typically do not have anything to do with sports are incorporating Adidas in delivering their brand. An example of this is when Mastercard, which has nothing to do with sports and athletics, uses Adidas in their commercials and other avenues of marketing because it recognises the powerful effects that television and football has on the public. (Hare, 1999.)
Adidas also delivers the message that a sport product can also be an everyday consumer product. Sportswear is as fashionable as it is function-able. Branding is extremely important for Adidas as they market to the retail sectors. Polo shirts, track suits (or warm-up suits), and trainers are amongst the products that are popular with households.
Knowing the target market is very crucial in determining the brand and all the steps that are required in doing so. A company's target market comprises of the people, which the company wishes to gain the attention and business of. Adidas defines their target market by characteristics such as psychographic, demographic, and geographic.