ASICS Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of ASICS through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
ASICS Product Strategy:
ASICS is one of the world’s leading sportswear brand. ASICS operates under various categories Running, Training, Core Performance, Lifestyle, Outdoor, Comfort etc. They have curated number of sets that is catering to a wide range of population with different concerns. Their products range from sports shoes to apparels, which shows its wide marketing mix product portfolio offerings. Their products have been designed in a way to meet their claims of high-quality running shoes which has made them quite popular among the runners. Apart from that its products exhibit new developments such as flared sole and reflective tape on the heels, gel shock absorption system, midsole features, etc. The company has made it a point to invest in new technologies over the years. From California jogging shoes (with flared sole and reflective tapes) to FlyteFoam (with proprietary cushioning) and Impact Guidance System (with external heel counter and specially designed plates) along with Cactus plate and whisker crystallized fibre material, the company has come a long way.
Image: Wikimedia
This concludes the product strategy in ASICS marketing mix & strategy.
ASICS Price/Pricing Strategy:
Below is the pricing strategy in ASICS marketing mix strategy:
ASICS has its products which are competitively priced. Their pricing strategy has been ore of a customer oriented one.
They focus on providing the right product solutions irrespective of whether it supports higher retails price points or more modest price points. Their highest priced products mainly cater to the running category, the point from where their business has grown. Asics has high priced segments selling between $75 and $125 as well as entry level models with a price tag of $60. Although major chunk of the sales is a contribution of the higher priced segments, yet it has been a conscious decision on the brand’s part to introduce entry level models too. Their main agenda is to strengthen the channels where they already exist.
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ASICS Place & Distribution Strategy:
Following is the distribution strategy in the ASICS marketing mix:
ASICS has got a very strong distribution network. 49% of its sales revenue comes from Japan, 28% from North America and 19% from Europe. Last year it focused on a strategy of relaunch in London to coincide to the start of the athletics World Championships to tap the emotional connect with the consumers. As it considers the traditional stores to be important, it has strategized to concentrate on the flagship stores in major cities like New York and Tokyo as well as other 700 brand locations.
US is the most important region for ASICS followed by China as the brand has tapped high potential in the economy.
ASICS Promotion & Advertising Strategy:
The promotional and advertising strategy in the ASICS marketing mix is as follows:
ASICS has lined its promotional strategy with a variety of sports and targeted leading international sports events. Their shoes had been introduced in the market specifically concentrating on the professional athletes. The Sydney Olympics in 2000 where Naoko Takahashi won the women’s marathon using their shoes had proved to be a significant leap of success for the brand. ASICS’ media campaigns have been specifically focused on demonstration of their products and explanation of technology used along with organizing events like marathon of NY or Boston. Their strategy also aimed to give Nike a tough competition. Recently, the brand has focused to expand its store estate and extend its appeal to a vast segment for growth in the market for fashionable sports and outdoor wear. Their campaign “I Move Me” has garnered lot of attention as it speaks about being cool – something that aimed to reinvent their image among the consumers. As it had previously leaned a lot on the runners’ segment, it wants to shift some of their focus on the teens category too i.e. capturing new set of audience. It looks forward to create an emotional connect with the consumers by bringing Grammy nominated DJ and producer Steve Aoki and street artist ELLE. Clearly looking forward to a rebranding strategy. Hence this conclude the ASICS marketing mix.
About ASICS:
“Anima Sana In Corpore Sano”, a phrase in Latin which means “A Sound Mind in a Sound Body”, has been the brand’s stimulus behind the name. Kihachiro Onitsuka, from Japan, started the company in 1949 with manufacture of basketball shoes and initially named the company after his name, Onitsuka Co. Ltd. It changed to ASICS after the merger of GTO and JELENK.
It focuses on athletic equipment and produces professional footwear and sports equipment designed for many sports disciplines viz. badminton, tennis, football, cricket, etc.
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