Reebok SWOT analysis – SWOT analysis of Reebok: Reebok can be described as a well-known label of sportswear as well as related products that is based in the United Kingdom. The company was established in 1958 by Joseph William Foster in the year 1958, the business began with the production of athletic footwear. Today, the company produces footwear for different sporting events, sportswear, and accessories for women, men as well as children. Reebok is one of the top players in the world sporting goods marketplace. Presently, Reebok is headquartered in Massachusetts and had about 1.84 billion euros of annual revenue in 2017.
Through close ties with numerous important athletic events by way of sponsorships and numerous endorsements by famous athletes, Reebok has won the respect and trust of the majority of athletes from all over the globe. Reebok produces products that are designed for running, and training as well as crossfire, walking yoga, dance studios, and studios.
Reebok fun facts: Reebok hired Tuan Le when he was only 25, to come on board with their design team. He was charged with creating a pair of sneakers for the Ridley Scott film “Alien.”
About Reebok – SWOT analysis of Reebok
Company: Reebok International Ltd.
CEO: Matthew H. O’Toole
Founder: Joseph William Foster | Jeff Foster
Year founded: 1958, Bolton, United Kingdom
Headquarters: Boston, Massachusetts, United States
Annual Revenue: EURO€1.41 Billion
Profit | Net income: EURO€322 Million
Number of employees: 9,102
Products & Services: Sportswear | Footwear | Watch | Track Suits | Reebok Shoes | Small Bags | T-Shirts | Backpacks | Sunglasses
SWOT analysis of Reebok – Reebok SWOT analysis
SWOT Analysis Of Reebok is brand-based. SWOT Analysis of Reebok evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Reebok’s SWOT Analysis. Below is the detailed SWOT Analysis of Reebok.
Let’s talk about Reebok’s SWOT assessment.
Strengths of Reebok – Reebok SWOT analysis
- Segment: Reebok offers a distinct segment in which it provides the items. At a general level, Reebok sells shoes and other sporting accessories to athletes or fitness enthusiasts. But inside Reebok’s product collection, they have distinct product lines that cater to particular sporting requirements that focus on specific niche segments within every category.
- Products with a lot of features: Reebok products are known for their quality and style. Every type of footwear produced by Reebok comes with features that meet their needs or benefits and has been a key selling point for the company. For instance, their athletic shoes Crossfit was created to give the most enjoyable running experience for runners, regardless of whether they are novices or experienced pros.
- Multichannel distribution strategy: Reebok sells its products via a variety of distributors. From their own retail stores, independent of them, to the most well-known retailers and online shopping sites such as Amazon and their personal site Reebok is present across multiple channels. This makes it easy for customers to shop at
- High customer engagement: Reebok has utilized social media to communicate with more than 35 million users as a form of an increase to increase customer engagement. For instance, Reebok identified a huge opportunity in combat-training shoes and has tapped the platforms of Facebook and Instagram as a way to better understand the requirements of their target group or to create forums in which they can discuss their issues or seek advice from experts. A similar strategy is also being used in different niches.
- The brand is used by celebrities: Reebok has been endorsed by the most famous sportspersons around the world. A few of the endorsers are Floyd Mayweather Jr, Shawn Kemp, and Allen Iverson. Recently, Reebok has been putting up rappers and musicians as endorsers. Some well-known names that fall under this category include Jay Z, Alicia Keys Swiss Beats, Jay Z, and TYGA.
- Cool image: Reebok was quick to recognize that Generation Y and millennials Generation Y were also seeking the cool factor in their athletic wear. To incorporate this, Reebok has brought on Chris Kwiatkowski, a graphic designer from their Sports Licensed Division, and designers Peter Quagga and Chuck Gates into their mainstream decision-making. This has not only transformed their merchandise but also enhanced the store atmosphere.
Weaknesses of Reebok – SWOT Analysis Of Reebok
- Over-the-top commercialization: The sportswear segment is so competitive that companies try their best to make their products more commercial. This has led to the fact that products such as Reebok which were previously thought to be high-end are now being compared to regional or local brands that are catering to those in the general market. This affects the brand’s image.
- Inadequate knowledge: Though Reebok has a variety of products that are designed to meet the needs of specific sports of its customers, it has had a difficult time making its customers aware of the brand, which means the company is largely synonymous with sneakers.
Opportunities of Reebok – Reebok SWOT analysis
- A look at the newest market: Reebok which was once the market leader in sportswear has fallen to the arch-rival Nike. But Reebok has plans to revamp itself, shifting into new categories, such as ethnic designs, women’s specialty sneakers, and kids’ shoes.
- Niche categories: In fitness today there are numerous niche categories like combat dance shoes, ballet shoes aerobics shoes, and shoes for training. While Reebok is present in a lot of these categories, customers must be informed more about why these particular requirements must be met. This will lead to the development of these industries.
Threats of Reebok – SWOT analysis of Reebok
- Competition: The primary opponents of Reebok comprise Nike, Adidas, Converse, New Balance, and Puma.
- Steals: Designer sportswear brands like Nike and Reebok also face serious dangers from imitations that are available at bargain-priced. People who are on the search for the simplest of styles and are not particularly worried about the features tend to purchase cheap imitations.
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Overview Template of Reebok SWOT analysis
Reebok has created a loyal base since its inception in the 1950s. They focused on an audience that was not addressed – Women’s sports, which put them in the spotlight. Reebok has also worked to make its products available for averaged income households, thus expanding its reach.
Reebok has suffered many times due to failed advertising stunts but has come up strong with great innovations in the sports market and stayed at the top. They successfully captured the American market, hence, they should widen their horizons and split their focus on the other global markets.
Reebok uses multiple channels of digital marketing such as SEO, Emailing, and Content Marketing to promote and educate its clients about newer products. However, they have the scope to expand and take advantage of the benefits of Digital Marketing because of its cost-effectiveness and connectivity with customers all over the world.
Gaining accurate knowledge of the strategies and functions of Digital Marketing is important, to work with renowned brands like Reebok, and Completing Certified Courses may present you with that opportunity.
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