Reebok Project 5j5t1y

INDEX 1. Introduction 2. Objectives 3. Hypothesis 4. Company Profile 5. Research Methodology 6. Data Analysis and Interpretation 7. Verification 8. Findings 9. Conclusion 10. Suggestion 11. Limitations 12. Bibliography 13. Appendix

N.M.D. COLLEGE, GONDIA

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INTRODUCTION


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INTRODUCTION BRAND A name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand. After your entire brand is the source of a promise to your consumer. It's a foundational piece in your marketing communication and one you do not want to be without.

BRAND IMAGE Brand image isthe currentview of thecustomers about a brand. It can be defined as a unique bundle of associations within the minds of target customers. It signifies what the brand presently stands for. It is a set of beliefs held about a specific brand. In short, it is nothing but the consumers’ perception about the product. It is the manner in which a specific brand is positioned in the market. Brand image conveys emotional value and not just a mental image. Brand image is nothing but an organization’s character.It is an accumulation of and observation by people external to an organization. It should highlight an organization’s mission and vision to all. The main elements of positive brand image are- unique logo reflecting organization’s image, slogan describing organization’s business in brief and brand identifier ing the key values.


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BRAND EQUITY Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well known names. Another word for "brand equity" is "brand value" or "brand recognition.

MARKET POSITIONING

Market positioning is the manipulation of a brand or family of brands to create a positive perception in the eyes of the public. If a product is well positioned, it will have strong sales, and it may become the go-to brand for people who need that particular product. Poor positioning, on the other hand, can lead to bad sales and a dubious reputation. A number of things are involved in market positioning, with entire firms specializing in this activity and working with clients to position their products effectively.

Market positioning is a tricky process. Companies need to see how consumers perceive their product, and how differences in presentation can impact perception. Periodically, companies may reposition, trying to adjust their perception among the public. For example, a company might redesign product packaging, start a new ad campaign, or engage in similar activities to capture a new share of the market.


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OBJECTIVE


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OBJECTIVE OF THE STUDY 1. To study the impact of brand image of customer buying process. 2. To determine the market position of the Reebok. 3. To conduct the SWOT ANALYSIS of the Reebok.


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SCOPE OF THE STUDY  The scope of the study is limited up to Gondia city.


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HYPOTHESIS


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HYPOTHESIS OF THE STUDY

1) There is an impact of brand image in customers buying process.

2) Reebok having sound market positioning.


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COMPANY PROFILE


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ABOUT COMPANY

Reebok International Limited, a subsidiary of the German company Adidas since 2005, is a producer of athletic shoes, apparel and accessories. The name comes from the Afrikaans spelling of rhebok, a type of African antelope or gazelle. In 1890 in Holcombe Brook, a small village 6 miles north east of Bolton, United Kingdom, Joseph William Foster was making a living producing regular running shoes when he came up with the idea to create a novelty spiked running shoe. After his ideas progressed heed with his sons, and founded a shoe company named J.W. Foster and Sons in 1895.


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In 1958, two of the founder's grandsons Joe and Jeff Foster renamed the company Reebok in the United Kingdom, having found the name in a dictionary won in a race by Joe Foster as a boy; the dictionary was South African edition hence the spelling. The company lived up to the J.W. Foster legacy, manufacturing first-class Footwear for customers throughout the UK. In 1979, Paul Fireman, a US sporting goods distributor, saw a pair of Reeboks at an international trade show and negotiated to sell them in North America.

MISSION STATEMENT “At Reebok , we see the world a little differently and throughout our history have made our mark when we’ve had the courage to challenge convention . Reebok creates products and marketing programs that reflect the brand’s unlimited creative potential. ."

FEATURES OF REEBOK  Globally Fourth after Adidas, Nike and Puma  Number 1 in India- 53% share of branded sports footwear market ( estimated size 3500 cr per annum)  Its lowest price point is less than 1000 (Rs. 999 for a pair of jogging shoes.  Has 1000 stores in 325 cities.  About 300 outlets cater to lower end of the market.  It offers 80 SKUs under 2590.


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 About 70% of the sales volume comes from low end product. In of value it constitutes 50% of the revenue.  Over 80% of the footwear is manufactured in India.  Reebok India MD- Subinder

Singh Prem.

 Yard stick to open a store: Any location which has a population of 10000 to 15000 can sustain a Reebok store.  Even if a franchisee, who owns the place, sells three to four pairs a day, there is a profit of 30000 to 40000 per month.

PRODUCT LINE

Shoes

Apparels

Product Line

Sports Equipment


Health products

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SHOES

Reebok Advantage Trainer Shoes

Reebok Dhoni Hex Ride Shoes

APPARELS

Reebok Track Suit

Reebok denim Jeans

Reebok Sunglasses N.M.D. COLLEGE, GONDIA

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Reebok Watches

Reebok cap Reebok Watches

Reebok Deodorant Reebok Socks

Sports Equipment

Reebok Balls Reebok Jersey


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Reebok Bats Reebok Strength Cycle

Health Product

Reebok Medicine ball

Reebok Speed Rope

Reebok Dumbles


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RESEARCH METHODOLOGY


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RESEARCH METHODOLOGY Research may be defined as a scientific and a systematic search for information on a specific topic. Research is an art of scientific investigation. Search of information may be known as DATA.

Research in common parlance refers to research for knowledge. For some people, research means “a careful investigation or inquiry especially through search for new facts in any branch of knowledge”. While some people consider research as movement, a movement from known to unknown. More specific definition of research is “it is a systematized effort of gain new knowledge.

Research is an academic activity and such should be used in a technical sense.

According to Clifford, research comprises defining and redefining problems, formulating hypothesis or suggested solution, collecting, organizing and evaluating data, making deduction and reaching conclusion and last carefully testing the conclusion to determine whether they are fit the formulating hypothesis.

Research is thus an original contribution to the existing stock of knowledge making for its advancement.

Data can be collected from many different sources.


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SOURCES OF DATA COLLECTION The data collected directly from the targeted audience for the very first time is known as PRIMARY DATA. Primary Sources a) Direct primary sources: Observation method and interview. b) Indirect prime resources: Questionnaires The data collected from the modes where the data is already available is known as SECONDARY DATA. Secondary Sources a) Internet. b) General magazines and books.


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DATA ANALYSIS AND INTERPRETATION


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DATA ANALYSIS AND INTERPRETATION 1) Most of the customer who visited the store.

100 90 80 70

63%

60 MALES

50 40

37%

FEMALES

30 20 10 0

INTERPRETATION: From the above graph, it is interpreted that 63% of the customers are males who visited the store while remaining 37% are females.


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2) Age Group of the customers.

100 90 80 70 16-25

60 50

26-35

47%

40

36-45 35%

36-46

30 20 10

13% 5%

0

INTERPRETATION: From the above graph it is interpreted that most of the products are purchased by the adult customers as compared to aged customers.


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3) Annual incomes of the customers.

100 90 80 70 UP TO 2 LAKH

60 48%

50 38%

40

2 LAKH TO 5 LAKH 5 LAKH TO 8 LAKH ABOVE 8 LAKH

30 20 11% 10

3%

0

INTERPRETATION: From the above graph it is interpreted that the people having annual income of more than Rs 8lakh purchase Reebok products most while sum whose income is 5 lakh – 8lakh also prefers Reebok’s product.


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4) Which kind of sports product do you use?

100 90 80 70 60

59%

50

BRANDED 41%

40

NONBRANDED

30 20 10 0

INTERPRETATION:

From the above graph it is interpreted that 59% of the customers uses branded products and the rest 41% of customers uses non branded products.


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5) What brand name could you for sports products?

100 90 80 70 60

NIKE

50

ADIDAS

40

39%

35%

REEBOK

30 20

PUMA

16% 10%

10 0

INTERPRETATION:

From the above graph it is interpreted that 39% of customers prefers Reebok products while 35% of the customers prefers Nike products and rest of customers prefers Adidas and others brands of products.


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6) Which Reebok’s product do you prefer mostly?

100 90 80 70 SHOES

60 50

BATS

47%

40

WATCHES

39%

JERSEY

30 20 10

6%

8%

0

INTERPRETATION:

From the above graph it is clear that 47% of the customers prefers Reebok Shoes, 39% customers prefers Reebok Bats while very few percentages of customers prefers Watches and Jersey.


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7) What motivate you to buy Reebok’s brand of products?

100 90 80 70 NAME

60 51%

PRICE

50

VARIETY

40 30

QUALITY 29%

20 10

14% 6%

0

INTERPRETATION:

From the above graph it is interpreted that most of the customers are motivated to buy the products of Reebok due to its popular name, and some of the customers are influenced by price, while rest are from variety and quality.


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8) How often you buy the same brand of Products?

100 90 80 70 60

53%

OFTEN

50

SOMETIMES

40% 40

ALWAYS

30

NOT AT ALL

20 10

7%

3%

0

INTERPRETATION:

From the above graph it is interpreted that the majority of the customers are very high, who always buys same the brand of products.While 40% customers not always prefer same brand of products.


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9) Whether the customer’s buying behavior is affected by brand image or not?

100 90 80 70 60

PRICE

50 40

45%

BRAND IMAGE SERVICES

35%

OTHERS

30 20 10

16% 4%

0

INTERPRETATION:

From the above graph it is interpreted that 45% customers believed that their buying behavior is affected by Brand image of the products and 35% of customers are influenced by price, While 16% customers are affected by the services provided by the company.


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10) Comparison of Market Positioning of Reebok with others companies.

100 90 80 70 60 50

REEBOK ADIDAS

43%

PUMA

40 30 20

24%

NIKE

19% 14%

10 0

INTERPRETATION: From the above graph it is interpreted that 43% customers believedthat the market positioning of Reebok is very much strong as compared to other sports product companies like Adidas, Puma and Nike etc.


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11) How do you scale your Reebok’s brand of sports products?

100 90 80 70 GOOD

60 50% 50 38%

40

AVERAGE VERY GOOD EXCELLENT

30 20 10

8%

4%

0

INTERPRETATION: From the above graph it is interpreted that, 50% customers believe that Reebok brand of sports products were excellent. While others few customers believe that the product was very good.


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12) Who are the competitors of Reebok?

100 90 80 70 60 50

NIKE

47%

PUMA

40

ADIDAS 30%

30

OTHERS 21%

20 10

2%

0

INTERPRETATION: From the above graph it is interpreted that, the toughest competitor of Reebok is Nike while Puma, Adidas are also close competitors.


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13) Will you recommend your preferred brand to others?

100 90 80

71%

70 60 50

YES

40

NO

30

29%

20 10 0

INTERPRETATION: From the above graph it is interpreted that 71% customers recommends their preferred brand to other customers, while 29% customers doesn’t recommends their preferred brand to others.


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SWOT ANALYSIS STRENGTH • Reebok’s name has excellent branding and a high quality image. People buy Reebok because its quality and reliability. • It has an excellent service network. This enables the outlet to stay ahead of competition, both in of quality and pricing by ensuring timely supply of each and every item needed in the showroom. • Teenagers and the young generation are crazy about this product.

WEAKNESS • It faces a lot of competition like Nike, Power, and Phoenixetc. In some places it has not been able to compete with the Indian sports shoe manufactures because of its high prices. • Its high prices have limited their range of customers. Reebok caters to only the higher middle class and top class of the society.

OPPORTUNITY • The fickle and design. This is because of the conscious nature of the target market of young teenagers and adults who like to buy the latest fashions. • Moving from the specialist sports shoe market to the young and adult market. • New and innovative sports shoe designs.

THREAT • The biggest threat is the popularity of other manufactures. • Reebok has to increase its popularity on a regular basis.


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VERIFICATION


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VERIFICATION H1 : Accepted From the graph it is concluded that there is an impact of Brand image on consumer buyingbehavior. Thus, H1 Hypothesis is accepted.

H2 : Accepted Reebok has sound market positioning as compared to its competitors. Thus, H2 Hypothesis is accepted.


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FINDINGS


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FINDINGS  From the analysis of data, we found Reebok has tough competition in market with Nike, Adidas etc.  Due to the high prices of products, it only caters to the need of higher Middle class and top class of the society.  Reebok has excellent brand image, and it also ensures quality and reliability of products.


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CONCLUSIONS


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CONCLUSIONS  From data analysis and interpretation it is concluded that, most of the customers prefer branded products.  From the study it is also concluded that, most of the people prefer Reebok‘s shoes and even Indian cricket players uses Reebok’s bats.  Last but not the least, it is concluded that the market position of Reebok is much better than other companies.


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SUGGESTIONS


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SUGGESTIONS  Reebok should decrease the price of their products. As their products are very high in range, middle and lower class of people could not think to afford it.  Reebok mainly deals in men’s products, so there is an ignorance of women’s and kid’s product. They should make the products for them to increase their sales.  Reebok should increase the numbers of their outlets in the big cities and set up new outlets in small developing cities so that consumer will not have to go in the big cities for purchasing the products.


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LIMITATIONS


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LIMITATIONS  Limited time for the study.  Respondents were hesitating to give the response.  Scope of the study is limited to the Gondia city only.  During the analysis of data, there is possibility of occurrence of human error.


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BIBLIOGRAPHY


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BIBLIOGRAPHY WEBSITE: • www.finance.yahoo.com • www.rbkindia.com • www.reebok.com • www.bigcharts.com • www.businessweek.com • www.wikkipedia.org

BOOKS:

Modern Marketing (Philip Kotler) Marketing Management (S.A.Sherlekar)


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APPENDIX


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APPENDIX QUESTIONNAIRE NAME: _______________________________________________ AGE: ____________________ NO. : _________________________ OCCUPATION: _____________________________

1) Most of the customer who visited the store. Male

Female

2) Age Group of the customers. 16-25

26-35

36-45

46-60

3) Annual incomes of the customers. Up To 2 Lakh

2 Lakh To 5 Lakh

5 Lakh To 8Lakh

Above 8 Lakh

4) Which kind of sports product do you use? Branded

Non Branded

5) What brand name could you for sports products? Nike


Adidas

Puma

Reebok

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6) Which Reebok’s product do you prefer mostly? Shoes

Bat

Watches

Jersey

7) What motivate you to buy Reebok’s brand of products? Name

Price

Variety

Quality

8) How often you buy the same brand of products? Often

Sometimes

Always

Not at all

9) Whether the customer’s buying is affected by brand image or not? Price

10)

Brand image

Adidas

Nike

Average

Very good

Excellent

Who are the competitors of Reebok?

Nike 13)

Puma

How do you scale your Reebok’s brand of sports products? Good

12)

Others

Comparison of Market Positioning of Reebok with others companies. Reebok

11)

Service

Puma

Adidas

Others

Will you recommend your preferred brand to others?

Yes


No

49

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