Marketing mix of New Balance (2024)

May 22, 2018 By Hitesh Bhasin Filed Under: Marketing Mix of Brands

New Balance Athletics, Inc is commonly referred to as New Balance. It is a private company of American origins. The company was founded in year 1906 by its founder Mitchell. New Balance is associated with lifestyle and retail industry as it deals in apparel and accessories. It is one of the major manufacturers in world of sports footwear. The brand faces rivalry from the following companies

Liberty
Bata
Reebok
Adidas
Fila
Converse
Puma
Nike

Table of Contents

Product in the Marketing mix of New Balance

New Balance is one of the leading companies in the world in terms of sports accessories and apparel. The company is known to manufacture innovative features in its footwear like heel counters, blended gel inserts and selection of several sizes particularly very wide or very narrow widths. New Balance offers its products for men, women and kids in several sizes. It also manufactures customized footwear. Its diversified product portfolio includes

Men

Apparel

Place in the Marketing mix of New Balance

New Balance is a multinational organization with its headquarters base at Brighton in United States. It has spread its product presence in overseas market to include one hundred and twenty countries in the world via two thousand and five hundred associates. It has twelve fully-owned subsidiary companies, joint ventures, several licenses and distributors spread across the globe. Its products are available in places like South Africa, China, Japan, Canada, United Kingdom, New Zealand, Australia and of course United States.

New Balance has manufacturing facilities in the United Kingdom and the United States and has recently opened another in China. Nearly 30% of the footwear for the European market is manufactured at its facility in Flimby in England. In India, New Balance has opened its first outlet in Delhi and has also entered into a partnership deal with e-tailer platform Jabong to sell its products via its online portal.

New Balance has an organised distribution channel so that its products reach the consumer market easily. The company sells via its branded stores along with multi-brand retail stores. It has more than two hundred outlets to its name. The company also markets its products via its website and other online stores with which it has entered into partnership deals. The websites offer several options in terms of colour and size to attract its customers.

Price in the Marketing mix of New Balance

By the end of the financial year 2015, New Balance posted its revenues at 3.7 billion US dollars. The company has targeted young men, women and children from upper middle class as its target customers who are sports enthusiasts. It is positioned as an athletic based brand offering premium products.

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New Balance incurs higher manufacturing costs and as their costing is high the brand has to keep its product prices at upper levels to earn revenues. The company’s product prices are greater if compared with its competitor’s product prices. In order to offer a balance, the brand offers premium quality goods. It has adopted a premium pricing policy for its premium products. New Balance offers value to its customers by differentiating their products with innovative features.

Promotion in the Marketing mix of New Balance

New Balance is a well-known brand that has adopted several marketing strategies to gain brand awareness in a consumer market. It has created some marvellous ad campaigns that are shown via television, sports magazines and social media platforms. The company has its own website along with Facebook, Twitter and YouTube to handle its promotional activities.

New Balance has been part of philanthropic activities for many years. As part of their eco-friendly activities, they have started manufacturing with zero waste. The brand offers 10% discount to students so as to create target customers at an early age.

New Balance has entered into several partnership and sponsorship deals to increase its brand visibility. In the year 2015, February it entered in a sponsorship deal of 40 million dollars/year with Liverpool. New Balance dressed the Chilean Olympic Committee at Rio and Olympic Council of Ireland in the year 2016. The company has signed several athletics like Stephanie Twell and in the year 2015, Trayvon Bromell. Barbuda National Team, Antigua National Team and New Zealand National Team are sponsored by New Balance.

It has entered into a partnership deal with Matt Bonner and provided him with footwear for several years along with James Worthy of Los Angeles Lakers. In the year 2015, the company signed a deal with Cricket South Africa and in the year 2017 with England and Wales Cricket Board to become their Kit supplier. New Balance sponsors several cricketers like Dale Steyn, Yasir Shah, Colin Munro, Aaron Finch, Gary Balance and Mathew Wade.

FAQs

Marketing mix of New Balance? ›

The most common framework for marketing mix is the four Ps: product, price, place, and promotion. These are the elements that a business can adjust to meet the needs and preferences of its customers, as well as to gain a competitive advantage.

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What is the marketing mix balance? ›

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What marketing strategy does New Balance use? ›

New Balance Marketing Mix

Business marketing strategies help the success of New Balance by achieving its business objectives. Specifically, New Balance's marketing strategy focuses on a marketing mix that covers the 4 P's: product, price, place, and promotion.

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What is the marketing mix of a new company? ›

What Is a Marketing Mix? A marketing mix includes multiple areas of focus as part of a comprehensive marketing plan. The term often refers to a common classification that began as the four Ps: product, price, placement, and promotion.

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Who is New Balance's target market? ›

About New Balance

New Balance Overview
Segmentation	Sport enthusiast men, women& childrenlooking for apparel and shoes
Target group	Young men women and kids from the upper middle class segment
Positioning	Premium athletic footwear and apparel meeting the needs of the everyday athlete.

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What are the 4ps of the marketing mix? ›

The four Ps of marketing—product, price, place, promotion—are often referred to as the marketing mix. These are the key elements involved in planning and marketing a product or service, and they interact significantly with each other.

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What are the 4ps of product marketing mix? ›

McCarthy streamlined this concept into the four Ps—product, place, price, and promotion—to help marketers design plans that fit the dynamic social and political realities of their time and target market.

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What is New Balance competitive advantage? ›

More recently, our manufacturing capabilities in Massachusetts and Maine allowed us to offer an unparalleled three-day turnaround for U.S. consumers of NB1 custom athletic shoes, giving New Balance a distinct competitive advantage in the growing custom shoe market.

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Why is New Balance so successful? ›

Since its founding in 1906, New Balance has had a “laser focus on the product, above all else.” The company puts quality and performance first, making sure all of their shoes and apparel feature high levels of craftsmanship and durability.

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What market is New Balance in? ›

Description. New Balance Athletics is a private company with an estimated 8,000 employees. In the US, the company has a notable market share in at least two industries: Shoe & Footwear Manufacturing, Athletic Shoe Stores and Athletic Shoe Stores.

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What is the marketing mix in a strategy? ›

The marketing mix in marketing strategy: Product, price, place and promotion. The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product.

What is the 5 marketing mix? ›

The 5 areas you need to make decisions about are: PRODUCT, PRICE, PROMOTION, PLACE AND PEOPLE. Although the 5 Ps are somewhat controllable, they are always subject to your internal and external marketing environments. Read on to find out more about each of the Ps.