Question

What recommendations would you make to an athletic footwear company's management to strengthen the company’s competitive position and future strategic and financial performance?

Answer 1

Here are the recommendations I will make to an athlete footwear company management to strengthen the company competitive position and future strategic and financial performance:

• I will recommend fist to keep a diverse brand portfolio - manage a diver brands and footwear segment so that it fits all categories of athletes professional as well as aspiring.
• In order to survive and have a better competitive position, it is important to have innovation as a key ingredient in team operations. Products and footwear should keep evolving with change of time & requirement of athletes.
• It is important to focus on markers and various channels - high potential markets and various sports avenues must be checked on regular basis and those markets must be tapped with speed and quality of service to be able to maintain a sound financial performance.
• Another major recommendation involves have a solid team designing and marketing such products. The team should have a complete idea of the vision and should be focused on developing innovative marketing strategies, work with integrity and passion, embrace diversity and value sustainability.
• It is important to look at the sustainability aspect as athletes and many sportsmen are conscious of these factors. The ocean waste shoes by Adidas getting attention is a great example. Overall the firm should focus on delivering products that have no negative impact on the environment. It has become an important element to have a competitive position in the market.
• To ensure future financial performance and growth it is important to have an effective supply chain. It is important to come closer to all the athlete ecosystem and respond to market needs in an efficient and timely manner.
• The recommendation would involve developing a strong marketing plan both onground and digital. Firms can leverage if the right messaging, the innovative ad campaign is developed. Athletes develop an affinity with a brand message and remain loyal for a long time.

It is pivotal firms look at international markets and athlete ecosystem across developing and under-developed economies. It offers a huge potential market scope.

Overall the firms should focus more on technology and adapt according to the needs of athletes. The performance and dependability should be high and then can be created by valuing customer feedback and evolving products according to their need & requirements.

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