Wednesday, September 24, 2008

Marketing Study: New Balance

For my Marketing class this semester, I've been assigned a group to work with. Our project is to select a company/product/brand and create a marketing plan for it, including analysis of data (all the data: target customers, budgeting, track records, etc.).

My group has selected New Balance, for a variety of reasons, including:

  • Our group has two athletes who are interested in working with sports gear
  • One group member has a degree in fashion retail
  • It's a local company
  • They are a large share of the sneaker market (#5 maker in the world)
  • They don't have that much brand recognition
Our particular focus is how New Balance markets itself to women. We've done some starting research into their vision and goals for the next five years, and who they currently sell to.

The disadvantage to working on New Balance is that they are a privately held company. This means that they have no publicly traded stock, and no annual report. This afternoon I tried calling New Balance's Marketing department to see if anyone there would be interested in hearing about our project and possibly providing some more data for it, outside of what we can glean from the lean pickings on the website. Sadly, I was given the brush off. I was fairly disappointed, but I knew that it was a possible outcome.

I'd be interested to hear from my readers. Are any of you New Balance fans? Do you have a story you can share about New Balance shoes or athletic gear? Would you be willing to take a survey next month for this project?

0 responses:

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