Marketing Report for New Balance Company Essay

1480 Words May 6th, 2013 6 Pages
MARKETING REPORT
FOR

New Balance Company
(Minor Assignment 2)

Table Content

1.0 Introduction 2
2.0 Marketing Segmentation 2
2.1 Demographic 2
2.2 Geographic 3
2.3 Psychographic 3
2.4 Behavioral 4
3.0 Targeting 4
4.0 Positioning 5

1.0 Introduction

Footwear industry in China was lucrative, since there was an increasingly number of people buying brand shoes and increasing franchising opportunities, most shoes companies are expanding, thus the competition between shoes companies in the same market share becomes more and more fierce. (Arms, 2003) For New Balance Company, In order to maintain a substantial amount of market share, to target
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They very focus on what they wear on foot, because this represents their status. Therefore, no matter they wear any kind of shoes; these kinds of people would like to wear better than others. New Balance shoe is a kind of famous brand in shoes industry, so most people would like to buy it. Some people even think wearing New Balance shoes is a kind of fashion.

2.4 Behavioral

Behavioral segmentation is dividing the market into groups according to the consumers’ knowledge, attitude towards and response to a product. For the Behavioral variable, New Balance company segments into the benefit sought, usage rate and buyer readiness stage. The benefit sought is the quality of New Balance products are made of good quality materials, not easily out of dated. Usually, the usage rate is medium user because some people wear New Balance shoes in order to match their clothes; also some people wear it to do sport. For the buyer-readiness stage, New Balance Company segments the customers as aware, interested and intended to buy the products because they are aware that the New Balance shoes from advertisements, magazines, while they are interested with New Balance different types of shoes and they intended to buy the products as it is their basic needs to wear.

3.0 Targeting

After developing profiles of resulting segments, New Balance Company is supposed to “evaluate each market segment’s attractiveness and selecting one or more segments to enter” (Kotler, et al, 2007,