Adidas Group – Three Stripes Sign
The “three stripes” sign of Adidas is popular as much as the “swoosh” sign of Nike in the world of sports. As a youngster what Adolf Dassler made in 1920 due to his passion over sports have come a long way today and has reached the global status as a global brand strong enough to promote at the recent 2010 FIFA World Cup and recorded sales more than 1.5 Billion Euro in the category of football alone.
Adidas is one of the global players in the modern business world, and has spread their branches all over the world. Since the management is efficient and effective, this particular business is growing its statue day by day. They are using successful business and marketing strategies, in order to become the No 1 player in the global market of sportswear. Their brand has developed to a highly valuable and famous brand in the globe due to their effective marketing strategies adopted. Their Sales revenue has increased over the years and speaks of nothing but a formula of success.
Adidas competes for its share in the market with their main competitor Nike. Adidas products are sold for high prices in the market; even if the products are sold for high prices, due to the unbeatable high quality factor involved in the products, there are millions of customers, who believe in Adidas products around the world.
In the year 2010 Adidas Group closed their sales of € 11.99 billion with a net income of € 567 million and it is clear by the looks of it that the Marketing strategies of Adidas play a fundamental role in entering new markets, maintaining customer loyalty, attracting new customers and popularizing the brand image which in turn generates more sales and profits to the organization.
The aim of this assignment was to identify the use of social media network channel called MySpace used by the Adidas group in order to promote their brands and communicate to the customers and the effectiveness of this mode of communication