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Marketing Mix of Puma
Marketing Mix of Puma - December 7th, 2010
Puma AG Rudolf Dassler Sport, officially branded as PUMA, is a major German multinational company that produces high-end athletic shoes, lifestyle footwear and other sportswear. Formed in 1924 as Gebrüder Dassler Schuhfabrik by Adolf and Rudolf Dassler, relationships between the two brothers deteriorated until the two agreed to split in 1948, forming two separate entities, Adidas and Puma. Puma is currently based in Herzogenaurach, Germany.
The company is known for its football shoes and has sponsored acclaimed footballers, including Pelé, Eusébio, Johan Cruijff, Enzo Francescoli, Diego Maradona, Lothar Matthäus, Kenny Dalglish, Didier Deschamps and Gianluigi Buffon. Puma is also the sponsor of the Jamaican track athlete Usain Bolt. In the United States, the company is probably best known for the suede basketball shoe it introduced in 1968, which eventually bore the name of New York Knicks basketball star Walt "Clyde" Frazier, and for its endorsement partnership with Joe Namath.
Following the split from his brother, Rudolf Dassler originally registered the new-established company as Ruda, but later changed to Puma.:31 Puma's earliest logo consisted of a square and beast jumping through a D, which was registered, along with the company's name, in 1948. Puma's shoe designs feature the distinctive "Formstripe",:33 with clothing and other products having the logo printed on them.
The company also offers lines shoes and sports clothing, designed by Lamine Kouyate, Amy Garbers and others. Since 1996 Puma has intensified its activities in the United States. Puma owns 25% of American brand sports clothing maker Logo Athletic, which is licensed by American professional basketball and association football leagues. Since 2007 Puma AG has been part of the French luxury group PPR.
* PRODUCT: in term of product we are going to come up with strategies in quality, warranty, and innovation.
a) Quality: we look forward to provide better quality product to our customer, to differentiate in term of quality standard.
Hence, puma has already established its brand reputation over the years. But still there are people, who prefer other brands like Adidas and Nike. So to be the first choice in consumer mind we have to increase the standard, so that consumer should have a wish or perception on their mind to opt for the brand.
b) Warranty: we will provide one month warranty to every customer to gain customer loyalty, that if any fault has been seen after purchase we will exchange with a new pair of shoes…therefore we can create brand image.
c) Innovation: We will be coming up with continuous innovation in our product range, so that the customers get his/her suitable choice. We would like to redesign our shoes and every other stuff, for every age group. Not just sportswear but in every product of puma, every age group should find their choice of stuff in our product range. There is less interest among customers in Puma due to less product range as compared to the market leaders Nike and Adidas. To change this attitude we are trying to redesign and increase our collection of shoes not just for sportswear but for casual and office wear too. Bringing distinctive and latest trendy design is our prime focus, as we all know that these days, we all are fashion conscious.
These strategies will help building image in the perception of the customer.
* PRICE: We are going to set a competitive price. Due to Chinese new year we will provides 20 % discount to the customer, so that they can buy puma brand and look over the brand as in compare to other high level brand.
Discount on high unit purchase i,e if 4 pair of shoes are purchased in span of 1 year then customer will get 50% to 60% off on their 5th one when they will buy, this will grow the customer attention toward our brand and they mite switch from buying an Adidas sportswear. We will also introduce a innovative way, that on purchase of a pre set limit a free gift will be offered. The company will also offer package like a full range of soccer apparel, including jersey to gloves throughout the year.
* PROMOTION: It can be done in various ways. We will sponsor events like Formula -1 car racing, road shows or local football match to increase our brand identity and that will create public awareness.
We will also sponsor inter school, college and corporate tournament, to gain good publicity toward our brand puma and also can indirectly help to get a positive attitude towards puma by our customers.
Endorsement: Since puma is already a reputed brand in the market; therefore finance won’t be a problem at all. Therefore in order to create a strong brand image we can endorse celeb like tiger woods to promote our strategies, that will help to create a image on consumer mind, that can be made telecast through advertisements in t v and in mrt and buses or even in magazines like sports star and sports today. Keeping the collection available in puma website, because there are people who don’t have time to check, by going on around various store so they can look through the particular website to select product of their choice and buy the stuff. This can be added advantage for us to capture those potential customers who love to shop online. It will create strong brand image.
Packaging: it is also a vital factor. As it involves the development of a container and a graphic design for a product . Packaging function includes protecting the product from damage. As package can be a vital part of the product making it more versatile. Like a brand name, a package can influence customers attitude towards a product and so effect their purchase decision, so we will look through our packaging. We will try to use the promotional logos of Formula-1 car racing competition in our shoe boxes. It is going to a big sporting event in Singapore and will definitely enrich our brand image if we become successful being one of the sponsor of the event.
The sports shoe industry is estimated to be worth S$70 million, with growth rates averaging 5-10% a year. Sports shoes have become big business, as more people are adopting exercise as a way of life. Function and style are equally important for a majority of consumers when it comes to choosing a sports shoe. Consumers want their sports footwear to be useful for their sport, and to look good on a social level, as they want to wear them on the street as well. However, keen sportsmen continue to stay with high-end performance products with the wide variety of sports shoes currently available (ranging from basketball, running shoes, aerobics, tennis, and other sports).
This is probably a opportunity for puma to increase and raise the standard of the brand. Hence innovation and increase in product range is seen viable that what puma lack in comparison to other brands. To
create a strong brand image, we will be implementing successful strategies to get into people mind that puma brand is also a better one along with nike and addidas. Meeting customer expectation is our ultimate goal.
PLACE : We are planning to open more retail outlets in places like Clarke quay, orchard and shopping malls like vivo city , Raffles city where there is consistent foot traffic with all the latest design and product of puma. We are trying to provide information of our latest promotions and product range through mobiles to our customers. It can be easy for anyone to retrieve information regarding Puma anywhere and anytime. This will definitely attract more customers to our Puma stores and help building a strong brand image
Re: Marketing Mix of Puma
Re: Marketing Mix of Puma - June 5th, 2015
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