The Marketing Mix of Puma tells the 4ps (Product, Price, Place, and Promotion) of the finest German multinational sportswear Brand – Puma!
In 1924, brothers Rudolf and Adolf Dassler founded Adidas, a firm that makes sportswear. Rudolf, on the other hand, left his brother’s business in 1948 and founded Puma.
Puma has subsequently evolved to become one of Germany’s top athletic shoe manufacturers. It is a public limited corporation with a Frankfurt Stock Exchange listing.
Puma employs over 14,374 people and distributes its shoes in over 120 countries throughout the world as of 2020, producing over $2.5 million in annual sales. London, Germany, and Hong Kong are the company’s headquarters.
Puma is dedicated to helping the sports world by promoting sustainability, peace, and innovation. And the company’s commitment to its ideals has helped it become a worldwide power.
However, this is not the sole cause of the company’s tremendous success. Its superb marketing approach has ensured that it remains a global leader in sports footwear manufacturing. Apart from shoes, the company has ventured into the production of sporting equipment, watches, and other accessories.
Let’s start with the Marketing Mix of Puma to learn more about its product, price, promotion, and distribution approaches.
Product in the Marketing Mix of Puma
Puma is one of the world’s most well-known sportswear and equipment brands. Puma is a sportswear, fitness, and lifestyle brand. It includes the clothing, shoes, and accessories required in sports such as football, cricket, golf, badminton, and motorsport.
Puma also offers a variety of items relating to well-known sports in the country where the company is based. These items are suitable for men, women, and children. Puma’s most popular items include:
Puma produces a variety of items including sneakers, running/training shoes, soccer, golf, motorsport, sandals, and flip-flops. These items are available for men, women, and children. For children, there are three age groups: newborn, preschool, and junior.
Puma offers the most up-to-date footwear with cutting-edge technology, making sports and activities more accessible to customers.
Netfit is the most recent example of this technology, which was preceded by Bolt Collection, Arsenal, and Ignite, among others.
Puma offers a well-developed collection of running and training shoes.
Puma’s product line now includes a variety of sports and fitness accessories in addition to garments and shoes. Backpacks, bags, wallets, belts, hats, socks, bottles, and wristbands are examples of these accessories. Puma’s product mix is differentiated primarily via the use of new sneaker advancements.
Puma’s marketing mix plan includes a wide range of T-shirts, Polos (in certain regions), jackets, sweatshirts, jerseys, tracksuits, trousers, and shorts. Again, depending on the need of different nations, the product range varies.
For instance, puma sells soccer shirts in the United Kingdom and cricket gear in India.
Puma promotes their product line through national brand ambassadors. Gym equipment, hiking equipment, and nutrition and fitness consulting are all examples of product diversification strategies. The goal of a product diversification plan is to increase profitability and attract a wider range of customers.
Price in the Marketing Mix of Puma
Major established companies like Nike, Adidas, and Umbro compete directly with Puma. Puma has priced its items somewhat lower than its competitors to combat this competition. This makes Puma appear more inexpensive and attracts more clients.
To keep consumers and boost switching costs, they provide seasonal discounts and loyalty perks. Puma’s price strategy is focused on the competition, which helps it to appear credible to the majority of clients.
The brand has been classified as a premium brand. Shoes from Puma start at $50 and go up to $600. This provides insight into Puma’s price approach in the marketing mix.
When compared to higher-priced competitors like Reebok and Adidas, Puma’s products are more affordable. The price approach is intended to provide competition to its competitors. Puma also adopts a premium pricing approach since its brand is considered premium.
As a result, Puma will be more expensive than a competitor like Bata. Puma’s two direct competitors are Adidas and Reebok, both of whom have higher prices than Puma. Puma’s pricing appears to be compelling most of the time due to its well-known brand.
Place in the Marketing Mix of Puma
Puma sneakers are mostly sold at multi-brand stores as well as unique Puma stores located in key cities throughout the world. Customers will need a larger assortment of shoes and accessories than competitors. It is a brand that is practically everywhere because of its large distribution network, which is combined with resources and expertise.
Puma is also always concentrating on retail development, as seen by its rapid establishment of new stores in different nations throughout the world. This serves to not only bring the items closer to the consumer but also to promote the brand and create revenue.
Puma has stated that it would continue to grow its customer base and fully integrate its retail outlets online.
Promotion in the Marketing Mix of Puma
Puma has a comprehensive marketing and advertising strategy as a worldwide brand. Puma’s marketing strategy is nearly identical in every country. Brand ambassadors are typically worldwide sports stars.
Puma has national brand ambassadors in every country where it does business. Several renowned sportsmen have supported it, including Michael Schumacker, Pélé, Joe Namath, Neymar, and Usain Bolt. Puma has a vast list of athletes from over 30 nations that have endorsed the brand.
Puma supports several clubs, teams, and organizations throughout the world as part of its promotional strategy, in addition to athletes. Rihanna and Kylie Jenner walked the runway in Puma designer gear and shoes to promote the company’s women’s product line.
Puma, in addition to celebrity endorsements, has created several fascinating and inventive initiatives to attract customers.
The peel-off sticker campaign as part of the “Run the Streets” campaign is one example. During the campaign, they placed 2000 Puma logo stickers on the Bugis MRT station in Singapore.
These stickers promised a 30% discount on your next Puma purchase. Puma is well-represented in digital platforms and social media, in addition to television advertisements and print media.
Puma spends a lot of money on internet promotion and digital marketing to boost its online sales. As a result, this provides an overview of the Marketing Mix of Puma!
I hope you have gathered all the crucial information about the Marketing Mix of Puma and the 4 P’s of Puma. Stay tuned for more Marketing Mix Articles.