Puma: business report - Essay Example

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PUMA is a recognized brand of sportswear in the world. It is known for its running shoes used for football, soccer, motorsports, running, and others. The company operates its own retail stores and products are distributed in 80 countries…
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Download file to see previous pages It is known for its running shoes used for football, soccer, motorsports, running, and others. The company operates its own retail stores and products are distributed in 80 countries. Recently, PUMA has branched out into non-athletic products that include perfumes and accessories. Its marketing strategy is to combine lifestyle with sports. After establishing a reputable name as an athletic shoe, it is now slowly losing its market share to competitors. The Audit and review implies that PUMA needs new strategy to bring back the luster of the logo in sports. While it has retained core competency as a running shoe, company did not focus on basketball which is one of the leading sports worldwide. Basketball is a market segment that PUMA did not touch. Sources of information is from published reports of the company and various reliable sources from the internet, Recommendation is to align their shoe design to this segment to penetrate the youth markets who are basketball fanatics. Company may do this thru acquisition or own manufacture as it has the capability to do so. BUSINESS REPORT PUMA Overview PUMA is a sports company based in Germany. It was formed in 1936, but was officially registered in 1948. It was originally founded by brothers Adi and Rudi, but a squabble separated them and their families that prompted them to form their own companies. Adi formed Adidas, while Rudi created PUMA. PUMA designs and manufactures footwear, apparel, and accessories under the brand of Puma, Tretorn and Cobra Golf Labels. Puma’s operation is divided into footwear, apparel, and accessories. Its footwear includes shoes for motor sports, cross training, running, tennis, soccer, and other activities. While it bears the shoe heritage, it has expanded its athletic apparel styles in t-shirts, track jackets, pant, and hooded sweatshirts. Its range of accessories includes utility bags, backpacks, belts, headwear, and socks. PUMA operates its own retail stores and controls product distribution in about 80 countries. It is perceived as a sports brand that defines culture in lifestyles. The icon of cougar depicts strength, power, and durability which an athlete should be. Thus, feeling is translated into wearer, and that alone distinguishes PUMA brand from other brands. Part of its marketing strategy is to be seen in numerous TV and magazine ads. This allows them to reach farthest consumers that have not been reached out yet. Its partnership with World Cup Champions, as in Golf champions highlighting consumers’ lifestyles is an innovative marketing strategy, For the past five years, from 2008 TO 2012, the company saw a continuous rise in revenue, Exhibiting a growth rate of 11%. MSN Report that it is more than the growth of companies of SP 500s. Industry rate is not available. Marketing goals and objectives Long term vision of the company is “to become the most desirable sports like company” in the world. The four keys to success in PUMA vision, is “fair, honest, positive and creative” (About PUMA). Its long-term objectives are: “expansion of product categories; regional expansion; and expansion with non-PUMA brands. Expansion of product categories involve entering new product categories and expansion of existing ones that will cover the entire sports lifestyle from sports to fashion. Puma will expand growth of products with potentials that will distinguish it from competition. PUMA aims at regional expansion both in its retail and wholesale business. PUMA intends to expand its shop-in-shop systems and intensify sales promotions instruments to promote its business relations with existing partners. It also plans to redeem licenses and ...Download file to see next pagesRead More
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