Marketing Management
Marketing philosophies and strategies
CONTENTS
1 ) Marketing philosophies
2 ) Marketing Strategies
3) Real Life example
4) Philosophies and strategies of the company
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Marketing Philosophies and Strategies of Adidas, Study notes of Marketing Management
The five main marketing philosophies and how they guide businesses in determining their approach to marketing. It also provides a real-life example of each philosophy and explains the marketing philosophy and strategies of Adidas. The document highlights Adidas' marketing philosophy, which is based on the idea of 'Sport Inspired, Life Style Created.' It also explains how Adidas uses a mix of marketing philosophies to capture the market and constantly innovate and upgrade its products. useful for students studying marketing, business, and sports management.
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2022/2023
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Marketing Management
Marketing philosophies and strategies
CONTENTS
1 ) Marketing philosophies
2 ) Marketing Strategies
3) Real Life example
4) Philosophies and strategies of the company
1) What are marketing philosophies? Marketing philosophies, also known as marketing orientations, are the guiding principles that help businesses determine their approach to marketing. There are five main marketing philosophies: production, product, selling, marketing, and societal marketing orientations. Each philosophy places a different emphasis on the customer and their needs. The production orientation focuses on maximizing efficiency in production and distribution. The goal is to produce large quantities of products at low costs. An example of a company with a production orientation is McDonald's. McDonald's operates on a large scale, with a standardized menu and efficient production processes. Their emphasis is on delivering fast and affordable meals to customers. The product orientation centers around creating and improving products based on customer preferences. Companies with a product orientation, such as Apple, invest heavily in research and development to create innovative and high-quality products. Apple constantly introduces new features and upgrades to its products to meet the evolving needs and desires of its customer base. The selling orientation places a strong emphasis on promotional activities and selling techniques. It assumes that customers will not buy enough of the company's products unless significant promotional efforts are made. An example of a company with a selling orientation is Coca-Cola. Coca-Cola invests heavily in advertising and other promotional activities to create brand awareness and increase sales. The marketing orientation focuses on understanding and meeting customer needs and wants. Companies with a marketing orientation, like Adidas, conduct market research to gain insights into customer preferences and develop products and marketing strategies accordingly. Their success can be attributed to its ability to cater to the specific needs and desires of athletes and sports enthusiasts. Lastly, the societal marketing orientation considers not only customer needs but also the well- being of society as a whole. Companies with a societal marketing orientation, like Patagonia, actively engage in socially responsible practices. Patagonia is known for its commitment to
2) What are marketing strategies? Marketing strategies are the plans and tactics businesses use to promote their products or services, reach their target audience, and achieve their marketing objectives. Effective marketing strategies are crucial for businesses to differentiate themselves in a competitive market and attract and retain customers. There are different types of marketing strategies that businesses can employ. Firstly, a target market strategy involves identifying and understanding the specific segment of the market a business wants to focus on. By tailoring their marketing efforts to reach and engage this target audience, businesses can better meet their needs. For example, luxury car brands like BMW and Mercedes-Benz target affluent consumers who value prestige and performance. Secondly, a differentiation strategy aims to distinguish a business from its competitors by highlighting unique features or benefits. This can be achieved through factors such as quality, design, customer service, or price. For instance, Apple differentiates itself through sleek and innovative products, positioning itself as a premium and high-quality brand. Digital marketing strategy is another important approach that leverages online channels to reach and engage customers. This can include tactics like SEO, social media marketing, content marketing, and online advertising. Mama Earth is an example of a company that successfully employs digital marketing strategies, using social media platforms and influencer collaborations to engage with its target audience. Relationship marketing strategy focuses on building long-term relationships with customers through personalized communication and exceptional customer service. Starbucks, for instance, encourages customer loyalty through its rewards program and creating a welcoming in-store experience. Lastly, product expansion strategy involves expanding a company's product line or offering new products or services to existing customers. This can help increase market share and revenue. Amazon is a prime example, starting as an online bookstore and expanding to offer a wide range of products, digital services, and physical stores.
Overall, marketing strategies are essential for businesses to effectively promote their offerings, stand out from competitors, and achieve their marketing goals. The choice of strategy depends on various factors such as the target market, industry, competition, and business objectives. By implementing the right marketing strategies, businesses can gain a competitive edge and drive growth and success.
4) Marketing philosophies and strategies of Adidas
Marketing philosophy - Adidas' marketing philosophy is based on the idea of "Sport Inspired, Life Style Created." The company believes that sports can inspire people to live more active and fulfilling lives. Adidas' marketing campaigns often feature athletes who are seen as role models for achieving their goals. One of Adidas' most successful marketing campaigns was the "Impossible is Nothing" campaign. This campaign was launched in 2005, and it featured athletes such as David Beckham, Muhammad Ali, and Serena Williams. The campaign was a huge success, and it helped to solidify Adidas' position as a leading sportswear brand. The company still uses the tagline and it has solicited its place as Adidas’s brand slogan just like Nike’s ‘Just do it’. Adidas’s market orientation is mix of 3-4 philosophies. It needs to make sure that athletes be it professional or not choose to use their products rather than their competitors. This is why they constantly have to upgrade their products and innovate to capture the market. This happens through understanding the market and the needs of the people which is called marketing orientation. For example Adidas launched a line of cricket sportswear and kits specifically for commonwealth countries like England and India after realising the scope of customers that they will be able to attract. They also roped in Sachin Tendulkar and Rohit Sharma as brand ambassadors to promote their brand which helps because of the big fan base of the two players. Adidas has to constantly innovate and upgrade all their products to make it more and more comfortable and to enhance performance. This is why they invest heavily into Research and Development to create better products. For example their Boost and Cloudfoam Technology which is used for cushioning their shoes keeps on getting better year after year and it makes users feel like their walking on air which increases stamina. Being into a resource hungry business in terms of raw materials , transportation and intensive labour. Adidas launched a line of shoes in the name of Adidas Parley which is made from ocean waste. Similarly a lot of their products now are being made from recycle materials at least partly if not 100 percent.
Adidas faces stiff competition from a lot of brands especially Nike and Puma so they have to constantly promote themselves to make sure they retain customers and gain new ones. This can be through sponsoring famous athletes and making them the face of their brand. This way they are probable to gain the loyalty of the fans that support that athlete. For example , Lionel Messi has been the face of the brand for a very long time , in his home country , Argentina , most people have significant brand loyalty to adidas due to the fact that Messi uses adidas and because they make the Argentinian kit. Adidas' marketing strategies are based on the following principles: Focus on performance: Adidas products are designed to help athletes perform at their best. The company's marketing campaigns often highlight the performance benefits of its products. They also constantly develop their products to make sure that the needs of the customer are met. Create a sense of belonging: Adidas wants its customers to feel like they are part of a community. The company's marketing campaigns often feature athletes who are seen as role models for achieving their goals. Be innovative: Adidas is constantly innovating its products and marketing campaigns. The company is always looking for new ways to connect with its customers. Adidas' marketing strategies have been very successful. The company has been able to maintain its position as a leading sportswear brand, and it has continued to grow its market share. Here are some examples of Adidas' marketing strategies: Product placement: Adidas often places its products in movies and television shows. This is a way to reach a large audience and to associate Adidas with images of success and achievement. Celebrity endorsements: Adidas has a long history of sponsoring athletes and teams. This is a way to connect with consumers who are fans of these athletes or teams.
Recently Messi signed for Inter Miami a club that is also sponsored by Adidas and that is owned by a former Adidas athlete , David Beckham. His move to Inter Miami could’ve been influenced by the brand itself. To celebrate his arrival in Miami , Adidas went to great lengths to promote their football line and Messi. Overall, Adidas' marketing strategies are very effective in reaching out to audiences and in building a strong brand image. The company's sponsorship of athletes like Messi is a key part of its marketing strategy, and it helps Adidas to connect with consumers who are looking for inspiration and motivation. As a company or a marketer we can take many lessons from the way Adidas markets itself and its products since they’ve consistently maintained a good brand image and have control over a significant market share.