Puma Marketing Strategy – Marketing Strategy of Puma: Puma is the most renowned sporting brand worldwide, creating designs, marketing, and selling clothing, footwear, and accessories in over 130 countries. It was founded on the 28th of January 1948, by Rudolf Dassler (due to the separation of the original company into PUMA and ADIDAS) it has been recognized as the most rapidly growing company and creator of high-performance and style-based items.
With its headquarters in Germany, It has expanded its reach to the world in just more than 67 years and employs more than 12000 diverse and committed employees across 45 countries.
Puma At A Glance – Marketing Strategy of Puma
Company : Puma
CEO: Bjørn Gulden
Founder: Rudolf Dassler
Year founded: 1948, Herzogenaurach, Germany
Headquarters: Herzogenaurach, Germany
Annual Revenue: 5.5 billion EUR
Profit | Net income: 262 million EUR
Number of employees : 14,374
Products & Services: sports shoes, apparel, and equipment. It has brought products for men, women as well as kids. The company makes products focused on different sports categories including basketball, football, running, cricket, badminton, motorsport, running, and gym.
Marketing Strategy of Puma
Puma’s Marketing Strategy covers various aspects of the business right from segmentation and targeting to the overall mission and vision of the company and the various parameters which the company executes to become the top brand that it has in the market. So what is the Marketing Strategy of Puma? Let us discuss.
Segmentation, Targeting, Positioning – Puma Marketing Strategy
Puma employs a combination of demographic, geographical, and psychographic segmentation techniques to better understand the needs of its customers in the market.
A targeted strategy is the pillar of the process of the product creation process. Puma utilizes a different targeted strategy to target different product classes.
It has always presented itself as a brand that inspires those who want to advance in life and strive to be the most amazing. Puma employs a values-based branding strategy for this.
Puma Mission Statement
“to be the Fastest Sports Brand in the world.”
Puma Vision Statement
“Become the fastest sports brand in the world”
Competitive Advantage – Puma Marketing Strategy
Sources from suppliers:
In the portfolio of products portfolio, 90% of the items are purchased from the Asian market in which the bulk of its manufacturing and production facilities are located. The procurement is a huge job for Puma which is managed by the Big cat Ltd. company which works with more than 190 suppliers across over 35 countries for the sourcing of products. The procurement process is among the main benefits that Puma has.
Wide product range:
Puma deals in product segments like clothing, footwear, personal care watches, eyewear, sports accessories, and clothing. Being in interconnected product categories with a wide range of options aids the brand in obtaining an increased percentage of the wallet and a rise in basket size.
BCG Matrix – Puma Marketing Strategy
Puma is owned by the group, and the trademarks Puma & Cobra golf mostly offers the same products.
The footwear division of the company accounted for about 45% of the total sales in 2015, and as such, it ranks high in the BCG matrix in contrast to the other segments of Puma i.e. apparel and accessories pose an unanswered question on the BCG matrix because of numerous national and international companies in the market.
Distribution Strategy – Puma Marketing Strategy
Puma & Cobra Golf brand is part of Puma Group. Puma Group. PUMA sells its products via 3 channels for distribution: Puma exclusive retail stores that are owned by Puma wholesalers, wholesalers, and online shopping websites like Amazon, Alibaba, and many others. 80percent of its revenue in 2015 was derived via the wholesale Channel. It organizes a variety of marketing and product-related joint programs for its main wholesale customers.
Brand equity – Puma Marketing Strategy
Puma’s involvement in the clothing, footwear, and sportswear business has always been an inspiration and source of inspiration due to its appealing risk-taker bold, confident and determined to live life to the fullest. The brand has been linked by some of the most famous athletes such as Usain Bolt, Tiger Woods among others.
Competitive Analysis – Puma Marketing Strategy
With operations across the globe in the clothing and footwear business, Puma is more focused on the production of its products for the Asian markets due to the low cost of labor, as well as the high cost of raw materials, which is aiding the company to stay in the forefront of competition.
Market Analysis – Puma Marketing Strategy
The existence of counterfeit products and high bargaining power for suppliers and customers, the rising cost of labor along with the influx of people into evolving lifestyle and lifestyles, is making it difficult for players in this sector to remain in the marketplace.
While in all the visibility of their campaigns Puma is adamantly promoting their products designed for the athlete, the majority of their customers are young people aged 20-35, who are not afraid of changing brands because of the shifting the competitive position that is being analyzed by athletes.
Customer Analysis – Puma Marketing Strategy
The customers of Puma are middle-upper and upper-class households that are focused on their health and are looking to lead a healthy and hygiene-conscious lifestyle. To draw people from various segments, it determined specific aspects like motivations, habits, and fitness levels; Puma has worked on these aspects to help promote its brand and to make them more appealing to the buyer.
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