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New Balance Athletics, Inc. is commonly known as New Balance. It is a privately held company of American origin. The company was founded in 1906 by founder Mitchell. New Balance is associated with the lifestyle and retail industry as it deals in clothing and accessories. It is one of the world’s leading sports shoe manufacturers.
PRODUCT:
New Balance is one of the world’s leading sports accessories and apparel companies. The company is known for producing innovative features in footwear such as heel counters, blended gel inserts, and a variety of sizes, especially very wide or very narrow. New Balance offers men’s, women’s, and children’s products in a variety of sizes. She also makes custom-made shoes.
PRICE:
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 the 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 its competitor’s product prices. To provide balance, the brand offers premium quality products. We have adopted a premium pricing policy for our premium products. New Balance delivers value to customers by differentiating its products with innovative features.
PLACE:
New Balance is a multinational corporation headquartered in Brighton, USA. Thanks to its 2,500 partners, the company has expanded its presence in overseas markets, including in 120 countries worldwide. It has 12 subsidiaries, joint ventures, and multiple licensees and distributors worldwide. Its products are available in countries such as South Africa, China, Japan, Canada, the UK, New Zealand, Australia, and of course the USA. New Balance has manufacturing facilities in the UK and USA and recently opened another plant in China.
Nearly 30% of footwear for the European market is made at Flimby plants in the UK. In India, New Balance has opened its first store in Delhi and has also partnered with the Jabong trading platform to sell its products through an online portal. New Balance has organized distribution channels to make it easier for its products to reach the consumer market. The company sells through branded stores and multi-brand retailers. His account has over 200 stores. The Company also sells its products through its website and other online stores with which it has partnered. The website offers a variety of color and size options to appeal to customers.
PROMOTION:
New Balance is a well-known brand that has adopted several marketing strategies to increase brand awareness in the consumer market. He has created several amazing advertising campaigns that appear on TV, in sports magazines, and on social media platforms. The company has its own website and Facebook, Twitter, and YouTube for promotional activities.
New Balance has been doing philanthropy for many years. We started waste-free production as part of our eco-friendly activities. The brand is offering a 10% student discount to create a target audience at a young age. New Balance has launched several partnerships and sponsorships to increase brand awareness. In February 2015, he signed a $40 million annual sponsorship deal with Liverpool. New Balance wore clothes for the Olympic Committee of Chile and the Olympic Council of Ireland at the 2016 Rio Olympics.
The company signed several players such as Stephanie Twell and Trayvon Bromell in 2015. The Barbuda national team, the Antigua national team, and the New Zealand national team are sponsored by New Balance. He partnered with Matt Bonner and provided shoes for several years with James Worthy of the Los Angeles Lakers. In 2015, the company signed contracts with Cricket South Africa to become a kit supplier, and in 2017 to England and Wales Cricket Board. New Balance sponsors several cricketers such as Dale Stein, Yasser Shah, Colin Munro, Aaron Finch, Gary Balance, and Matthew Wade.
