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Question: Write on strategy of marketing
Answer:
Promotional Strategy:
Promotional strategies are crucial for enhancing revenue of the organization. Although Wilson Sporting Goods is one of the industry leaders in the sports goods market, adopting the right promotional strategies is important for this organization also. To plan the future promotional strategies for Wilson Sporting Goods, existing advertising strategies of the organization requires being analyzed.
Current promotional strategy of Wilson: Push marketing enables the businesses to increase their short-term sales by reaching the customers with their products and by providing them with several incentives (Shank & Lyberger, 2014). On the contrary, pull marketing helps the businesses to attract customers to their products for long term benefits. The Wilson management currently focuses on using the ‘Pull’ marketing strategy for promoting their products. The organization does not give much emphasis on direct selling the products. Instead, the Wilson management gives stress on getting the optimum results from their selling efforts through intermediaries. Wilson management gives importance on growing interest of the customers to their organization through content marketing and social media marketing (Cmo.com, 2018). After serving the customers in sports goods industry, the Wilson management has many experiences and stories that can be shared with the customers. Use of content marketing and social media marketing helps the organization to enhance its appeal as a provider of superior quality goods through sharing the experience and communicating directly with the customers. However , the organization also focuses on using limited number of push marketing strategies such as running demo events for showcasing its products . Such events also help the organization to grow interest of the customers.
Balancing between the push and pull marketing strategy is important to get the optimum results for an organization. In case of Wilson Sporting Goods also, the management needs to focus on ‘Push’ marketing strategies such as promoting the products through trade shows or displaying new products at ‘point of sale’ locations to obtain the maximum benefits for their sales efforts.
Current promotional strategy of Wilson: Push marketing enables the businesses to increase their short-term sales by reaching the customers with their products and by providing them with several incentives (Shank & Lyberger, 2014). On the contrary, pull marketing helps the businesses to attract customers to their products for long term benefits. The Wilson management currently focuses on using the ‘Pull’ marketing strategy for promoting their products. The organization does not give much emphasis on direct selling the products. Instead, the Wilson management gives stress on getting the optimum results from their selling efforts through intermediaries. Wilson management gives importance on growing interest of the customers to their organization through content marketing and social media marketing (Cmo.com, 2018). After serving the customers in sports goods industry, the Wilson management has many experiences and stories that can be shared with the customers. Use of content marketing and social media marketing helps the organization to enhance its appeal as a provider of superior quality goods through sharing the experience and communicating directly with the customers. However , the organization also focuses on using limited number of push marketing strategies such as running demo events for showcasing its products . Such events also help the organization to grow interest of the customers.
Balancing between the push and pull marketing strategy is important to get the optimum results for an organization. In case of Wilson Sporting Goods also, the management needs to focus on ‘Push’ marketing strategies such as promoting the products through trade shows or displaying new products at ‘point of sale’ locations to obtain the maximum benefits for their sales efforts.
Distribution strategy:
The Wilson Sporting Goods uses a number of B2B and B2C channels for distributing its products among the customers. The B2B channels used by Wilson management include the retailers and distributors spread across the globe. On the other hand, the B2C channel of Wilson management includes online stores that can be accessed using the web and the app. The B2C distribution channels help the organization to maintain a strong and consistent brand image (Cmo.com, 2018). The B2C techniques also help the organization to implement shorter sales cycles which is effective for increasing the revenue faster (Mullin et al.2014; Barrios et al.2017). Being a global brand, creation of strong and consistent brand identity provides Wilson management with long term benefits. On the other hand presence of a global distribution network facilitates the Wilson management to reach huge number of customers of different markets. Through the distribution network, the Wilson management can modify their marketing strategies according to the customer preferences of local markets.
As the worldwide customers are showing interest to online purchase, the Wilson management also needs to provide its customers with more effective shopping solutions. The organization should develop more secured and personalized shopping apps for making their products available to the customers
As the worldwide customers are showing interest to online purchase, the Wilson management also needs to provide its customers with more effective shopping solutions. The organization should develop more secured and personalized shopping apps for making their products available to the customers
References:
Barrios, A., Wilson, B., & Arias, C. (2017). Getting the sustainability message across: an endorsed Colombian environmental cinematographic strategy. International Journal of Advertising, 36(6), 910-927.
Cmo.com. (2018). Wilson Sporting Goods Masters The Global-Local Marketing Serve. Cmo.com. Retrieved 17 February 2018, from http://www.cmo.com/interviews/articles/2016/10/7/marketing-superstars-kyle-schlegel-wilson-sporting-goods.html#gs.Z_wLwfo
Mullin, B. J., Hardy, S., & Sutton, W. (2014). Sport Marketing 4th Edition. Human Kinetics.
Shank, M. D., & Lyberger, M. R. (2014). Sports marketing: A strategic perspective. Routledge.
Cmo.com. (2018). Wilson Sporting Goods Masters The Global-Local Marketing Serve. Cmo.com. Retrieved 17 February 2018, from http://www.cmo.com/interviews/articles/2016/10/7/marketing-superstars-kyle-schlegel-wilson-sporting-goods.html#gs.Z_wLwfo
Mullin, B. J., Hardy, S., & Sutton, W. (2014). Sport Marketing 4th Edition. Human Kinetics.
Shank, M. D., & Lyberger, M. R. (2014). Sports marketing: A strategic perspective. Routledge.
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