Marketing mix of New Balance

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

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

• Recently reduced clothing
• Gear and Accessories
• Socks
• Pants
• Shorts
• Hoodies and Jackets
• Long sleeves shirts and short sleeves shirt

Footwear

• Wide shoes
• Sandals
• Recently reduced shoes
• Work Shoes
• Lacrosse
• Golf shoes
• Tennis shoes
• Soccer shoes
• Boots
• Trail and hiking footwear
• Skateboarding shoes
• Baseball shoes
• Walking shoes
• Training shoes
• Lifestyle shoes
• Running shoes

Women

Apparel

• Recently reduced clothing
• Gear and Accessories
• Socks
• Dresses and skirts
• Capris and Pants
• Shorts
• Hoodies and Jackets
• Long sleeves shirts and short sleeves shirts
• Sports bra
• Tank tops

Footwear

• Recently reduced shoes
• Wide shoes
• Sandals
• Work Shoes
• Lacrosse
• Golf shoes
• Softball shoes
• Tennis shoes
• Boots
• Trail and Hiking
• Walking Shoes
• Training Shoes
• Lifestyle
• Running Shoes

Boys

Apparel

• Recently reduced clothing
• Gear and Accessories
• Socks
• Bottoms
• Tops

Footwear

• Wide shoes
• Sports shoes
• Sandals
• Training Shoes
• Lifestyle
• Running shoes
• Recently reduced shoes

Girls

Apparel

• Recently reduced clothing
• Gear and Accessories
• Socks
• Bottoms
• Tops

Footwear

• Recently reduced shoes
• Wide shoes
• Sports shoes
• Sandals
• Training Shoes
• Lifestyle
• Running shoes

Customized footwear

Baseball

• 3000v3
• 4040v4 Turf
• 4040v4

Lifestyle

• 574 the Icon
• 300 The Classic
• 998 The Trendsetter
• 990v3 The Performer

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.

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.