Internal and External Analysis for New Balance Athletic Shoes Inc Essay

Internal and External Analysis for New Balance Athletic post Inc - Essay ExampleFinally, the union lacks the emphasis required on design in order to carry through broader sales volumes. The information uncovered for this report will be discussed in relative detail in this report.New Balance currently maintains a somewhat conservative mentality when it comes to trying to reach potential difference customers. This is an attitude within the company that needs to change and should represent flexibility in thinking toward a change in the vane. Such changes would require small internal adjustments in promotion (and the overall sales budget) to make the product stand out in the minds of consumers. Currently, the company only maintains 58 percent brand recognition (Bowen, Huckman & Knoop, 2008), considerably lower than that of their rival competition, Nike and Reebok. However, dollar for dollar, the companys advertising expenditures are more or less equal with Reebok but the return on this investment is significantly higher for Reebok. The more mature-minded consumer may non be the ideal candidate for the modern New Balance company when it comes to increasing sales volumes, the list to moving forward may lay in reaching a much broader and younger, progressive consumer audience. The company is currently working with a wide variety of different styles for production which should be an integral die of the companys operations A well-developed research and development team combined with marketing righteousness that can reposition the product (based on budget restrictions) as a more progressive shoe company. It is suggested that marketing strategies should include focusing on this element of good business, illustrating to prospective customers that the company intends to stay more or less and means business. Such marketing changes, developed through an appropriate project management team, could unleash a brand new image for New Balance, suggesting that it, too, can weigh quality with