A marketing mix analysis of the ASICS Company
Marketing mix is a tool that helps marketing manager to achieve their marketing objective. Marketing mix element are product, price, place and promotion and it also known as 4P.Marketing mix become a very powerful concept, because it makes marketing seem like easy to handle.(Reference: Chai Lee Goi)
ASICS running shoes is tangible product, because we can touch it and see it.
Figure Three level of product
(Reference: Philip Kotler, Gary Armstrong, Swee Hoon Ang, Siew Meng Leong, Chin Tiong Tan, David K.Tse)
Product can divided into three level, they are core product, actual product and augmented product. First level, core product is not the tangible, physical product, because core product is the basic benefit that ASICS running shoes can bring to user and it is also the main reason why user bought it. Basic benefit of sport shoes is reducing injury risk when having sport activity. Second level, actual product is the physical form of the ASICS shoes. At this level, the marketer will set up the design, style, brand, quality and packaging of ASCIS shoes. This step is important because is the way marketer differentiated their sport shoes from their competitor.(References: http://tutor2u.net/business/presentations/marketing/ levelsofproducts/default.html) Third level is augmented product. Augmented product is additional benefit of purchasing ASICS sport shoes. For instant, good quality and unique design.
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Consumer product have five types, they are convenience product, shopping product, specialty product and unsought product. ASICS shoes are considered as a shopping product, because customer won't buy it frequently. Besides, before purchase, customer will do some research and compare the price, style, quality among their choice.
Branding is an identity of the product, it refer to the name, logo, design and packaging. Besides, branding can add value to the shoes, because people generally will willing to pay more for a branded shoe like ASICS than unbranded shoes .Branding helps ASICS company develop strong loyalty from customer and consumer will easy to recognize the ASICS shoes. Branding help ASICS Company to differentiate their shoes from others company which sell in the same product. Every brand have their own brand value, brand value is one types of asset for the company. Rank of ASICS shoes in Japan's best global brand in 2010 is rank 22. Brand value in year 2010 is 664 million US dollar(reference from docstoc web site 2010)
All the other 3p in marketing mix are cost to the company, except price. Pricing is only element brings profit to ASCIS Company. Pricing is about amount of the money customer need to pay for obtaining the ASICS shoes.
Product mix pricing strategy have five situation, they are product line pricing, optional-product pricing, captive-product pricing, by-product pricing and product bundle pricing. Product mix pricing strategies of ASICS shoes is product line pricing, which means that company sell different version of the ASICS shoes, for an example, running shoes, basketball shoes, football shoes and so on, different model of shoes will priced different.
Segmented pricing have three types, they are customer segment pricing, location pricing and time pricing. Segmented pricing of ASICS shoes is customer segment pricing. Different interest person buy different types sport shoes. For an example, people who likes jogging will purchase running shoes, who like to play football will buy football shoes.
Psychological pricing is setting price according to the psychographic of the aimed at market segment.(reference: business dictionary web sites) Reference prices of a good quality sport shoes normally is around 100 ringgit Malaysia to 400 ringgit Malaysia , if the price is too low, customer who very emphasis on quality will refuse to buy it, because the quality might be low. If the price is over than 400 ringgit Malaysia, customer also will refuse to buy it, because is too expensive.
Place is refer to distribution, the way customer to obtain the ASICS shoes. Customers of ASICS shoes can though the ASICS shop to obtain their product.
Distribution channel is the way producer though distributors or directly sell the product to customers. Distribution channel use by ASICS Company is containing two intermediary, which is wholesaler and retailer. Wholesaler will buy large quantity and different types of ASICS shoes from ASICS shoes manufacture then only break into small quantity and sell to the different retailer. Retailer is the person who contact with customer, so they will give suggestion considering like and dislike of the customer. For an example, dark color football shoes are more popular than white color football shoes, because white color very easy dirty. Distribution intensity have three types, they are intensive distribution, exclusive distribution and selective distribution. ASICS company is under selective distribution, which mean that all area have limited outlet to sell the product.
Promotion is use by company to communicate with respect to their product offering with customers. (References: Jennifer Rowley) Definition of promotion is advancement of a product, idea, or point of view through publicity and/or advertising. (Reference: Business dictionary)Promotions are used to attract new customer and remind the old customer have ASICS brand.
Marketing promotion mix have five types, they are advertising, sales promotion, public relation, personal selling and direct marketing. ASICS Company practice in sales promotion, advertising and personal selling. Every Christmas, ASICS shops have sales promotion to encourage customer buy it as a Christmas present. Every ASICS shop have promoters, they will face to face introduces their product to customer and assist customer to choose the most suitable shoes size, this is personal selling. Advertisement done by ASICS company is has their own web sites, ASICS advertising slogan is "Sound mind, sound body" (reference: ASICS web sites.)
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ASICS running shoes is rank one in the world for nineteen year. ASICS Company have more than 60 years of footwear experience ,the reason why ASICS Company been there so long is the ASICS shoes have be known as very comfort sport shoes, in any sport, the player need the shoes will not harm them or pinch them in anyway. Besides, design of ASICS shoes are very stylish, the player also want to be look good when having sport activity. The ASICS shoes also made of high quality material and therefore long lasting. Nice design, good quality and comfort ability of the ASICS shoes is the main reason why customer choose ASICS brand.
ASICS Company should maintain their shoes quality and keep do research to manufacture more nice and suitable sport shoes for sport player. Furthermore, they can try to manufacture kids sport shoes or the sport item which suitable for kids to increase their product species and sales.
In conclusion, in year 2010 Japan's best global brand, ASICS Company successful from ranked 26 changes grow up to ranked 22 and increase 11percent of the brand value, there is 664 million of the brand value. ASICS Company determined to continue increasing the brand value of ASICS with the goal of joining the top 100 in the best global brand ranking of interbrand.
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