Adidas Footwear Products - Example

Table of Content Executive Summary………………………………………………………………………….2 Introduction …………………………………………………………………………………3 Situational Analysis…………………………………………………………………………3 a) Internal environment…………………………………………………………………3 b) External environment……………………………………………………………… 4 SWOT Analysis…………………………………………………………………………… 5 a) Strengths…………………………………………………………………………… 5 b) Weaknesses………………………………………………………………………… 6 c) Opportunities…………………………………………………………………………6 d) Threats……………………………………………………………………………… 6 Marketing objectives…………………………………………………………………………7 Marketing strategies………………………………………………………………………… 8 a) Positioning and Target Markets………………………………………………………8 b) Product strategies…………………………………………………………………… 9 c) Pricing strategies…………………………………………………………………… 11 d) Promotional strategies……………………………………………………………… 12 i. Advertising………………………………………………………………… 12 e) Supply chain strategies ………………………………………………………………13 Implementation and Control……………………………………………………………….. 14 a) Action Plans…………………………………………………………………………14 b) Measurement and control………………………………………………………… 15 c) Responsibilities…………………………………………………………………… 15 Conclusion………………………………………………………………………………… 16 References…………………………………………………………………………………..17 Adidas footwear products: Marketing Plan Executive Summary Adidas Company is one of the largest sports apparel manufacturers and supplier in Europe. The company is known for providing sports products such as sports footwear, clothing and equipments. The primary products of the Adidas brand are its footwear products. Over the years, the company has produced high-performance sports lines that have received good reception from the European and other markets in various countries around the world. The success and growth that the company has experienced over the years can be attributed to its provision of quality, functional and trendy products (Adidas Group, 2008). However, due to the increased competition in the market, the is need for the company to enhance its marketing strategies especially for its foot wear products which face high competition from brands such as Nike and Puma among many others (Berger, 2009). The key marketing goals of Adidas footwear brand include develop a strong brand presence and increase the market base of the brand by implementing effective marketing strategies. Marketing strategies proposed in this report include; Conducting research-based market segmentation so as to aid in the implementation of customer-oriented marketing (Lamb et al, 2008). Provide footwear products that meet the specific needs of customers. For instance, in order to target its market segments comprising of athletes and sports enthusiasts, the company should provide usable, functional and durable footwear products that enable consumers to realise optimum performance. For a market segment comprising of image and brand enthusiasts, the company should provide high-end stylish and trendy products. Integration of supply chain elements in order to capitalize on the value that Adidas footwear products provide to customers and other stakeholders. Incorporate Integrated Marketing Communications (IMC so as to enable the company to coordinate and integrate its various communication channels in order to provide clear, compelling and consistent information concerning the company and its footwear products (Kotler et al, 2010). Introduction Adidas, a company founded in 1948 in Germany by Adi Dassler, is the largest sports apparel manufacturers in Europe. The company is known for its sports products which include sports footwear, shirts, bags eyewear, watches and other sports clothing. The firm has over the years produced high-performance sports lines that have received good reception from the European and other markets in various countries around the world. The success and growth that the company has experienced over the years can be attributed to its provision of quality, functional and trendy products (Adidas Group, 2008). The primary products of the Adidas brand are its footwear products. This brand provides a high value for its customers and as a result consumers who purchase footwear products under this brand not only do so due to their usability or functionality but also due to the fashion statements conveyed by this brand. Nevertheless, the company faces competition from other brands such as Nike, Puma and other upcoming brands. In order for the company to differentiate itself from its competitors and maintain its competitive edge in the market, it is essential for the company to enhance its marketing strategies (Adidas Group, 2008; Berger, 2009). A. Situational analysis a) Internal environment Adidas quest in its mission and vision is to become the world’s leading sports brand that provides products that are built on a sporting lifestyle and a great passion for sports. In so doing, the company endeavors to design and manufacture products that are aimed at meeting the consumers’ needs. The firm continuously enhances the value and image of their products and organisational structure. The innovative designs are aimed at enabling the sports persons experience and realize the peak of their achievement (Berger, 2009). The firm’s mission and objectives are realized through the marketing strategies and techniques that it utilizes. The firm continues to enjoy a high consumer loyalty and competitive advantage as compared to other sports brands. This can be attributed to its marketing strategies that have since ensured that Adidas is one of the world’s leading sports brands (Dawes, 2009). The company’s improvement of its retail relationship is achieved by continuous refinement of the distribution channels. Moreover, the firm invests in its brand promotion and advertising strategies and maintains its competitive advantage in a highly innovative world. The company takes advantage of its strong brand image, to command high prices and generate more revenue. The company is known to have a rigid pricing structure. Over the years, Adidas has used the marketing slogan, “Impossible is nothing” to market its brand. As a result, the company has managed to stand out as the sports apparel manufacturers with one of the strongest connection with sports. For instance, the company is known for sponsoring the NBA all-star game and the FIFA World Cup among many other sporting events. The firm mainly targets the sports men and women particularly athletes, football, basketball and rugby players and sports fans. New innovations on its products has made the firm venture and target the middle-aged adults, young adults and teenagers who want to find their identity, convey a fashion statement or assert their social status which has made the brand to be popular and prestigious to be associated with (Berger, 2009). b) External environment Europe is currently the largest market base for the Adidas brand as it enjoys a 6% customer rate and is since focused on outsourcing in Asia. The introduction of its new innovative footwear products have caused the company to get strong recognition not only in Europe, but also in other countries in North America and Asia (Berger, 2009). Stiff competition is however experienced by companies like Nike, New Balance and Converse. Nike has managed to sneak stiff competition for its use of the endorsement by renowned celebrities such as Micheal Jordan, Tiger Woods, Rafael Nadal, Rio Ferdinand, Wayne Rooney and Christiano Ronaldo and the extensive reliance on the electronic media as its marketing strategy and providing sponsorship for major sporting events in order to promote its brand (Hatfield, 2003; Kotler et al, 2001). The findings of the World Bank indicate that the global GDP is expected to grow by 3.2 % in 2011. In Western Europe, the GDP will increase by 1.7 %. The findings are expected to have an impact on the sporting goods market as it is projected to grow gradually in Western Europe during this period as the population will have increased income and spending. Similarly, it is expected that in North America, China and other Asian markets, the sales growth rate of sporting apparel and products will accelerate. However, despite the fact that the Japan market showed slight improvements and recovery, the effects of the disaster may have adverse effects to the industry as it is projected to minimize the purchasing of sports items (Adidas Group, 2011). Adidas increasingly adapts to new product and production technologies every year as a way to maintain its relevancy in the market. However, the company is exposed to regulatory risks such as potential losses from civil unrest, terrorism, nationalization and expropriation. Moreover, the company faces risks brought about by the sudden introduction of addition import restrictions, import duties and import tariffs this could compromise the free flow of the company’s products from the suppliers. In 2008, almost all apparel-specific regulations against China were disbanded due to the World Trade Organization (WTO) accession agreement. Despite this, some countries such as Brazil and Argentina sought to introduce protection regulations against footwear imports by using trade defense instruments like anti-dumping measures. Furthermore, Argentina and Brazil have put into place high import duties on footwear imports that are from China. It is expected that these duties will negatively impact on the company’s gross margin (Adidas Group, 2010). 2. SWOT Analysis a) Strengths The company enjoys a wide presence in more than 200 countries internationally. In addition, the Adidas brand has a strong market position in Europe, North America and a good number of Asian countries. The innovative products focus on technology and performance development. The brand has a reputation of products variety that aim at attaining sports performance. In addition, the firm has continuously sponsored a variety of international and national sporting events. The company also draws its strength from developing a strong brand image through diverse brand evolutions that focus on the expectations of the consumers (Berger, 2009). b) Weaknesses The performance of the Adidas brand is largely dependent on the North American and European market. In 2007, these markets generated the company 29% and 43% of its annual sales. The Adidas brand does not do well in subcontinent markets such as India and some Asian countries. One of the key weaknesses of the company is that it has a rigid pricing structure. The company takes advantage of its strong brand image, to command high prices and generate more revenue. Moreover, the firm has a limited budget dedicated to advertisement. The choice of the advertising agency is poor and overreliance on the brand name (Berger, 2009). c) Opportunities The firm has a positive and a market trend that is increasing through effective advertising coupled up with its innovative products that are driven by technology The Adidas brand has a great opportunity to increase its penetration into the international market. As a result of the increasing global GDP the demand for athletic footwear and sport apparel is bound to increase, this provides an opportunity for the company to expand its production and introduce new sports products into the market that meet the needs of its consumers The company can enhance its brand image in the international market through effective advertising. The firm has opportunities in its increased endorsement programs and the ability to tie up with the domestic market player in order to boost the volume sales (Adidas Group, 2011). d) Threats Nike which is its biggest competitor has high investment in marketing and advertising as well as its utilization of celebrities to endorse its products. The company is exposed to regulatory risks like potential losses from civil unrest, terrorism, nationalization and expropriation. The market has witnessed the increase in competitors. In addition, the company faces risks that come as a result of the sudden introduction of additional import restrictions, import duties and import tariffs this could compromise the free flow of the company’s products from the suppliers. Lastly, the global economic crisis is not favorable to its products due to decreased spending (Adidas Group, 2010). B. Marketing Objectives Conduct aggressive and effective advertising campaigns of the company’s footwear product. Employ extensive celebrity endorsements in order to build a strong brand image and create a dominant presence in the media. Currently, Adidas is endorsed by two-time current FIFA World Player of the Year Lionel Messi, NBA All-star Dwight Howard and IRB Players of the Year Richie McCaw and Daniel Carter. Provide sponsorship for major sport events such as the FIFA World Cup and the NBA All Star Weekend. Introduce new innovative and cutting –edge designs in the market each year. Refine the company’s distribution channels by improving its retail relationships and expanding its outlets. Tie up with the local manufacturers and get critical information in relation to the foreign market. C. Marketing strategies In reference to the marketing objectives highlighted in the section above, the marketing strategies of Adidas were formulated through strategic positioning and development of market segments, product strategies, promotional, pricing and supply chain strategies. a) Positioning and Target Markets It is essential for companies to identify their target markets or conduct market segmentation mainly because it helps in the effective implementation of customer-oriented marketing (Lamb et al, 2008). Market segmentation can be defined as the process of grouping segments within the market that have similar consumer characteristics and trends (McDonald & Ian 2007; Solomon et al, 2009). The segmentation of a market can take place based on geographic, demographic, behavioral and psychographic aspects of that particular market. Therefore, in order to develop or identify market segments different aspects within the market should be examined. For instance, it is essential to analyse socio-economic and demographic aspects of the market. Moreover, the preferences and interests of consumers in a particular market should be put into account. Subsequent to the identification of market segments or target markets, it becomes easy for marketers to develop and implement marketing strategies that are appeal to their target markets. Consequently, consumers are bound to relate to and respond positively to the implemented marketing strategies (Moschis, Euehun &Mathur, 1997). In the case of Adidas, market segmentation should be carried out on the basis of geographic, demographic and behavioral factors. It will be essential for marketers to keenly segment its market on the basis of all these factors so as to effectively identify its customer base. Adidas products can be ranked as esteem needs in the Maslow’s hierarchy of needs, therefore, the company’s marketers should target consumers in this hierarchy. This is mainly because the Adidas brand provides products that aim at enhancing consumer’s convenience, performance, confidence and self-worth (Haig, 2011; Solomon et al, 2009). This hierarchy comprises of few people since in most countries, people are struggling to attain physiological and safety needs such as food security, good shelter, employment, quality health services and resources. Therefore, it is important that the company’s market is segmented on the basis of geographic, demographic, behavioral and psychographic factors (Maslow, 1954). On the basis of geographic aspects the company’s market should be segmented into urban and sub-urban regions. Segmentation by geography will be carried out mainly because products under the Adidas brand have not penetrated in some markets especially in Asian countries. With regards to demographic factors, the company’s market base will be segmented based on income and social classes such upper class, upper middle and lower upper (Berger, 2009). Segmentation by demographics will be implemented mainly because the Adidas brand offers high-end products that cannot be afforded by all people. Market segmentation on the basis of behavioral factors will focus on the segmentation of consumer based on their interests and preferences. Some studies show that consumers who purchase brands such as Adidas, Nike and Puma do so either because they are athletes, fitness or sports enthusiasts, brand fanatics or image seekers (Haig, 2011). Therefore, it is important to consider these behavioral aspects of consumers as facets of market segments (Lamb, Hair & McDaniel, 2011). b) Product strategies In all its product categories, the Adidas brand aims at providing for its target consumers stylish and functional products. Realizing the full scope needs of its target consumers is very crucial for the success of the brand. In order for the company to meets the needs of its target consumers effective product strategies are essential. Product strategy can be defined as a broad concept that incorporates a time-phased conditional plan that defines the selection of appropriate products and marketing strategies to be utilized in a particular market segment (McGrath, 2001). The nature of Adidas products range from sports footwear, apparels and equipments. The company faces stiff competition from firms like Nike and Puma which also provide the same category of products. In order for the company to differentiate itself from its competitors, there is need for the company to provide for its target market products that meet their specific needs. Its market segments comprises of athletes, fitness or sports enthusiasts and image seekers (Borowski, 2011). So as to meet the needs of its market segment comprising of athletes and sports enthusiasts there is need for the Adidas Company to provide, functional products that promote optimum performance. Adidas is known for its innovation of products with great functionality features. For example, the company introduced to the market footwear features like studs for soccer boots, spike for running shoes and nylon soles. Over the years, these innovations have increased the favorability of the Adidas brand amongst athletes and sports enthusiasts since they provide features that help to enhance convenience and performance (Haig, 2011). Moreover, in order to cater for its market segment comprising of brand and image enthusiast there is need for the company to provide high-end stylish and trendy products that appeal to the eye and different socio-economic standards. Due to the stiff competition in the sportswear industry and the ever-changing market standards, there is need for Adidas to annually introduce new footwear technology or revolutionize an existing technology. For instance in 2002, the company introduced two new footwear technologies namely a3 and ClimaCool. This showed the company’s commitment towards meeting the needs of its market by proving cutting-edge technology. Nevertheless, in the subsequent years, few innovations from the company have been witnessed (Borowski, 2011). Basically, the product strategy of the Adidas footwear brand will comprise of the following strategies; Layout and functionality; footwear products provided in the market should be functional, usable and incorporate features that enhance optimum performance and functionality in different sporting activities. This will help to target the market segment comprising of athletes, sports and fitness enthusiasts. Artistic appeal; this relates to the stylistic appeal of the product. Besides providing to the market footwear products that are functional, there is need for the company to provide high-end stylish and trendy products that appeal to its market segment comprising of brand and image enthusiasts from different socio-economic standards. In addition, the company should regularly introduce new footwear incorporating cutting -edge technology or it should revolutionize an existing technology. This will ensure that the company maintains its competitive edge in the market. c) Pricing strategies Pricing strategies are the criteria that companies employ to determine the value or price of their services or products. Two main strategic factors should be considered prior to the determination of price. The first factor is the company’s market segments. Market segmentation is a crucial decisive factor in price determination. The second factor that should be considered when it comes to determining the price of a product is the product strategy. The values and needs of the target market segments should be analyzed in detail. Considering these two factors helps to estimate the economical and psychological value of the product to customers (Webster, 1995). Over the years, Adidas has been known for using a premium pricing strategy. Premium pricing is pricing strategy whereby the prices of services or products are kept artificially high all the time so as to create a good impression and encourage favorable perceptions amongst consumers. This pricing strategy does not necessarily justify the pricing of the product based on the pricing rather it focuses on the status linked to the product based on its price. Premium pricing is based on the assumption that expensive products represent exceptional distinction and quality and as result the product is bound to enjoy exceptional reputation and attract customer loyalty from the high end market (Avis, Burke & Wilks, 2008). The increasing competition in the sports footwear market may create a challenge for Adidas footwear brand due to its pricing strategy since there are other brands that employ competition-based pricing. In order to differentiate itself from its competitors and maintain its competitive edge in the market, the company should employ a market oriented pricing strategy for its footwear products. Although Adidas footwear products target a high-end market segment, there is need for the company to expand its market base. Hence a market oriented pricing strategy will be convenient in this case. When it comes to market oriented pricing, prices are set based on research and analysis of the target market with regards to the economical and psychological value of the product to customers (Webster, 1995). Therefore, Adidas footwear products should be priced based on the nature of a particular market segment. Factors such as functionality, socio-economic status, needs and preferences of consumers in a particular market segments should be put into account when determining the prices of different footwear products. For instance, in a market segment comprising of athletes and sports enthusiast the prices of footwear products can be based on the quality, durability, robustness and functionality of the product. On the other hand, a market segment comprising of image and brand enthusiasts, the prices of different Adidas footwear product will be determined by the kind of image or style embedded in the product and the economical and psychological value of the product to customers in the particular market segment (Webster, 1995; Avis, Burke & Wilks, 2008). d) Promotional strategies In order to generate a consistent message about Adidas footwear product, the promotional strategies of the brand will incorporate Integrated Marketing Communications (IMC). According to Kotler et al (2010), IMC is a concept that enables a company to coordinate and integrate its various communication channels so as to provide clear, compelling and consistent information concerning the company and its products (Kotler et al , 2010). Over the years, Adidas has been known for conducting strategic marketing campaigns by using advertising, sales promotion and public relations as its key promotional tools for its footwear products. However, due to the increasing competition in the market, there is need to for the company to enhance some of its promotional approaches by implementing more customer-oriented promotional strategies (Haig, 2011). i) Advertising As stated earlier in this report, the target market of Adidas footwear brand includes brand and image enthusiasts, athletes and sports and fitness enthusiasts. Brand and image enthusiasts will seek to purchase footwear product that are stylish and trendy whereas athletes, sports and fitness enthusiasts will seek to purchase footwear products that are functional, durable and enhance optimum performance. Therefore, company’s advertising campaign should incorporate rational and brand appeal. When conducting the advertisement campaign, the rational appeal should focus on the features, characteristics and functionality of the Adidas footwear products (Kelley & Jugenheimer, 2008). This is bound to attract loyalty and positive response from athletes, sports and fitness enthusiasts. The brand appeal will focus on the design and style of the Adidas footwear products. This appeal will aim at attracting loyalty and positive response from brand and image enthusiasts. In order for the company to send consistence message to its customers, it will employ IMC functions and as a result the advertising strategies of Adidas footwear products will comprise of three main objectives. The first objective of the company’s advertising strategy will be to inform. Through advertisements in televisions, newspaper and billboards information about Adidas footwear products will be conveyed to consumers who know little about some of the footwear products under the Adidas brand. The advertisements should be compelling enough so as to attract attention and produce desire especially amongst new consumers (Berger, 2009). The second objective of Adidas’ advertisement will be to provide a comparative message. In this case, the company’s footwear products will be compared to other brands, the advertisement will aim at showing the factors that make Adidas footwear products to stand out and why the brand is better than other brands. The third objective of Adidas advertisements will be to persuade. In this case the key objective is to persuade consumers to develop brand loyalty to Adidas footwear products. Strategies such as celebrity endorsements and sponsorships of events will be used to persuade consumers to develop loyalty for this brand. The focus of these promotional strategies will be to convey to consumers the strengths of the brands and highlight the benefits that consumers are bound to get when they use Adidas footwear products (Berger, 2009). e) Supply chain strategies Adidas footwear products can be distributed to customers efficiently through retail stores. The products can be sold to various retail stores across its different market segments and subsequently consumers can purchase the products in their convenient retail stores. As of 2008, Adidas Company had over 2, 200 retails stores around the world. Therefore, these retail stores can be used as distribution channels for its footwear products. Alternatively, customers can efficiently access Adidas footwear products directly from the brands’ factory outlet, concept stores and concession corners among many other distribution channels (Productivity Press, 2005). The company will select retails partners who have effective skills and structures that will help to effectively showcase the new designs and performance advantages of Adidas footwear products. It is also essential for the company to improve its retail relationships by ensuring that it works closely with its retail channels. There is also need for the company to increase its efforts towards building its brand presence in smaller retailers. The already established Adidas infrastructures around the world can provide the much needed platform for enhancing the brand presence of Adidas footwear products among small retailers. By helping to develop small retailers in its different market segments, the company will be in a better position to promote awareness, distribute its products and increase its profitability (Productivity Press, 2005). It is essential to integrate supply chain elements in order to capitalize on the value that Adidas footwear products provide to its customers and other stakeholders. Supply chain integration requires approaches that harmonies elements in the supply chain so as to enhance the overall performance of the brand. One of the ways that can be used in the integration of supply chain elements is by employing strategies that enhance collaboration in the supply chain. Collaboration within the supply chain can be enhanced by maintaining the existing relationship with its distribution agencies (Blanchard, 2010). In addition to this, an elaborate supply chain integration plan is essential. Planning is a crucial step towards the integration of a sustainable supply chain. The supply chain plan should incorporate annual goals and action plans aimed at improving the overall supply chain. Integrating the supply chain will also require the company to actively engage and involve suppliers and other stakeholders. Developing effective communication channels is also important in the integration of the supply chain. Therefore, the company should develop communication channels that will enable the easy and efficient flow of information to all the constituents of its supply chain (Blanchard, 2010). D. Implementation and Control a)Action Plans The proposed marketing plan for Adidas footwear products mainly revolves around promotion and increasing the market base of Adidas footwear products. The performance of Adidas footwear products is largely dependent on its European market. Footwear brands such as Nike and Puma pose as major competitions for this brand since they have a wider market base. Therefore, there is need for the company to expand its market in order to maintain its competitive edge in the market (Berger, 2009). The implementation of the company’s marketing strategy will be based on overcoming the existing competition and challenges in the market. Evidently, Adidas is in a good position and generally has efficient structures to ensure the effective implementation of the proposed marketing strategy. Nevertheless, in order for the company to realise optimum results in the implementation of the proposed marketing plan, the following marketing activities should be implemented; Select appropriate retail channels based on the skills and structures that retailers have to effectively showcase the new designs and performance advantages of Adidas footwear products. Develop and maintain consistent communication channels with major retailers and create structures of managing and coordinating small retailers. Conduct training to major retailers on how to effectively promote Adidas footwear products in different market segments. It is essential to train major retailers on how to promote the brand effectively, since they are the main representatives of the brand. d) Measurement and control The performance of the marketing plan will be measured based on regular marketing audits. This audit will not only be carried out at the initial stage of the marketing plan but also in the course of the implementation process. Some of the factors that will be considered during the audit include; internal and external aspects in the market that might impact on the marketing plan. Furthermore, the audit will focus on evaluating whether the implemented strategies have realised any positive outcomes over time. e) Responsibilities Implementing the proposed marketing plan will require joint efforts from brand marketer, major retailers, small retailers and other stakeholders. Conclusion The proposed marketing strategy aims at enhancing the promotion and increasing the market base of Adidas footwear products. The key products of the Adidas brand are its footwear products. This brand provides a high value for its customers and as a result consumers who purchase footwear products under this brand not only do so due to their usability or functionality but also due to the fashion statements conveyed by this brand. However, the company faces competition from other brands.In order for the company to differentiate itself from its competitors and maintain its competitive edge in the market, it is essential for the company to enhance its marketing strategies (Adidas Group, 2008; Berger, 2009). It is essential for Adidas to identify their target markets or conduct market segmentation in order to ensure effective implementation of customer-oriented marketing (Lamb et al, 2008). Moreover, in order to cater for its different market segments there is need for the company to provide functional, durable, stylish and trendy products that appeal to the eye and different socio-economic standards. In addition, it is imperative for the company to integrate its supply chain elements in order to capitalize on the value that Adidas footwear products provide to its customers and other stakeholders. References Adidas Group. (2008). Profile: Adidas. Retrieved on October 28, 2011 from Adidas Group (2010). Risk and Opportunity Report. Retrieved on October 3, 2011 from Adidas Group, (2011). Adidas Group 2011 outlook. Retrieved on October 3, 2011 from Avis, J., Burke, L. & Wilks, C. (2008). CIMA official learning system management accounting decision management. Amsterdam: Elsevier. Blanchard, D. (2010). Supply chain management best practices. New York: John Wiley and Sons. Borowski, A. (2011). Adidas marketing strategy – An overview. Munich: GRIN Verlag. Berger, C. (2009). Strategic Sports Marketing- The impact of sports advertising upon consumers: Adidas- A case study. Munich: GRIN Verlag. Dawes, J. (2009). Brand loyalty in the UK sportswear market. International Journal of Market Research, Vol 51, No. 1. Hatfield, S. (2003).What makes Nike's advertising tick. Retrieved on October 28, 2011from 2011 from Haig, M. (2011). Brand success: How the world’s top 100 brands thrive and survive. New York: Kogan Page Publishers. Kotler, P., Cunningham, M. & Turner, R. (2001).Marketing management. Ontarrio: Pearson Education Canada. Kelley, L. & Jugenheimer, D. (2008). Advertising media planning: a brand management approach. New York: M.E Sharpe. Lamb, C., Hair, J. & McDaniel, C. (2008). Marketing. New York: Cengage Learning. Lamb, C., Hair, J. & McDaniel, C. (2011). Essentials of Marketing. New York: Cengage Learning. Maslow, A. (1954). Motivation and Personality. New York: Harper. McDonald, M. & Ian D. (2007). Market segmentation: how to do it, how to profit from it. New York: Butterworth- Heinemann. McGrath, M. (2001). Product strategy for high technology companies: accelerating your business to web speed. New York: McGraw-Hill Professional. Productivity Press. (2005). Lean supply chain: collected practices and cases. New York: Productivity Press. Solomon, M., Hughes, A., Chitty, B., Marshall, G., Stuart, E., Fripp, G. (2009). Marketing: real people, real choices. Sydney: Pearson Education Australia. Webster, F. (1995). Industrial marketing strategy. New York: John Wiley and Sons. Read More