Puma Marketing | Marketing Strategy of Puma
In sportswear, Puma is the leading name internationally due to its innovative footwear, accessories, apparel, and Puma Marketing. It was founded in 1948 and created itself as a leading sportswear brand because of its sports-based products and designs. Its designs, marketing, and selling techniques are really effective. That’s why it is currently operating in 130+ countries globally. The current headquarter of Puma is in Germany. They have 12000+ dedicated and skilled employees in more than 45 countries. In this post, we are going to highlight the marketing strategies of Puma.
Important Factors in the Marketing Strategy of Puma:
Segmentation, Targeting, and Positioning:
In the segmentation strategy, Puma uses a combination of psychographic, demographic, and geographic factors to identify the customers’ changing needs in different markets. In targeting strategy, they use differentiated methods in various product portfolios. Thus, the brand has constantly placed itself as a sportswear brand that inspires people to move ahead in life’s race to get the greatest. That’s why they use a value-based positioning strategy to target the customers. The prominent tagline of the brand is “Forever Faster.”
Competitive Advantage | Puma Marketing
Nearly 90 percent of Puma’s products are sourced from Asian regions because most of its production and manufacturing plants are sited in these regions. Big cat Ltd. is the handler who sourced its products because they coordinate with more than 190 providers. This is the most significant competitive advantage of Puma. The vast range of product portfolio is the other important advantage of Puma because they deal in sports accessories, clothing, eyewear, watches, footwear, and personal care. This kind of broad product portfolio gives Puma a competitive advantage over its rivals. That’s why its market share and brand image are continuously increasing day by day. Customers and professional athletes prefer this brand for buying activewear items.
BCG Matrix | Puma Marketing
The Puma group possessed various subsidiaries like Puma& Cobra golf that also deals in activewear and sportswear items. The footwear portfolio is in the star category because it generated 45 percent sales from total sales. On the other hand, accessories and apparel still have question marks due to the low sales and the presence of various high-quality brands like Nike, Adidas, and so on. There are several local and international players in the sportswear industry.
Distribution Strategy | Puma Marketing
The distribution strategy of Puma is most effective. The Puma Group primarily possesses Puma & Cobra Golf. It provides its offerings through 3 main channels such as Puma stores and ecommerce websites like Alibaba, Amazon, and more. It earned nearly 80 percent of its revenue from its wholesale channels in 2015.
Brand Equity:
Puma has always motivated its customers through its risk-taking advertisements, high-quality sports products, and sassy nature. The company has sponsored various international teams and athletes like Usain Bolt and so many others. They are continuously attracting people through their apparel, footwear, and sportswear.
Competitive Analysis | Puma Marketing
The activewear industry is overcrowded with several famous players like Adidas, Nike, etc. But, the company has a competitive advantage due to its manufacturing and production plants in Asian markets. The labor and material cost is very low in these regions, so it’s a big competitive advantage of Puma.
Market Analysis | Puma Marketing
Several local and counterfeit brands and products are available in the markets that are continuously threatening the market share of Puma. Due to rising labor costs, varying lifestyles, and requirements of customers, users prefer affordable products. But, Puma is trying hard to advertise its products aggressively and spending heavy amounts on campaigns and branding. Puma needs to revise its pricing policy to remain competitive and edgy in these markets.
Customer Analysis | Puma Marketing
The majority of customers of Puma are from upper-class and middle-class categories. Moreover, the growing trend of active style is the biggest reason for the brand’s increasing popularity. They target customers through different techniques such as fitness level, motivations, and active lifestyle. Thus, they are gaining the attention of customers in this way.
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