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Adidas Genius Marketing - Coggle Diagram
Adidas Genius Marketing
Market characteristics
Barriers to entry
- No barriers to entry when Adi and his brother found the Dassler Brother's shoe factory (Puma was a competition but did not manage to dominate market, therefore there are no real barriers to entry)
- Sport events did not emphasize on wearing specialized footwear. Being one of the first company that thought of this idea means that there are no barriers to entry.
Competition
- Competition was not tight as the Dassler brothers is one of the first companies to develop sports footwear.
- Minor competition that is present in the early 1900s was New Balance
Customer Base
- Adi was involved in sports community, making professional athletes as his customer base
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Market Size
- Potential global market (athletes do not have specialized footwear in the 1900s.
- 1954 world cup grabbed millions of potential customers in the global footwear market
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Market growth rate
- Western world was heavily involved in sports, giving Adidas, that is located in Germany, a huge opportunity to grow
- Market growth rate had an unbelievable increase after the Germany beat the Hungarian in the 1954 world cup. (Made Adidas footwear a household name in football pitches all around the world)
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Marketing Strategies
Globalization
- The 1954 world cup played a key role in Adidas' objective to have a dominant position in the global sportswear market
Changing consumer tastes
- Product development to satisfy more customers
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Competitive rivalry
- Potential rivalry in the modern era: Nike, Asics, Puma, Under Armour etc.
Marketing Objectives
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Higher
market share
- Adi said he wants to provide best footwear for athletes of all spots
(implies objective to achieve market dominance in the global sports market)
Increased
sales revenue
- Eventually achieved through increased brand awareness that results in sales from effective marketing
Developing
new products
- Product development and diversification took place to fulfill a broader range of customer needs (E.g: bags, clothing, watches)
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