An Examination of the Business Proposal of Adding a New Product to the Existing Goods of Adidas Essay

In the business world, change is vital to success. While it is certainly true that start-ups must practice some kind of innovation to grow their business, even well-established corporations must also adapt to changing market conditions. Stagnancy through a failure to recognize the new or changing needs of a market place can cause a loss of sales. Thats why its so important for companies to be constantly thinking of ways to expand the business. One of the most intuitive and often effective ways to grow an organization is to offer a product line that is new to the company. The following essay will examine the marketing implications of adding a new product to an existing companys line of goods. Background of Existing CompanyAdidas is a name synonymous with athletic wear. Found in 1924, the Adidas company has certainly had its share of experience and understands a great deal about how to grow a business. (Bouchet, 2013) The companys main product offerings center around footwear, yet they also manufacture clothing, watches, cologne and other accessories. Adidas is a multinational corporation, being the largest sportswear manufacturer in Europe, and the second largest sportswear manufacturer in the world. (Bouchet, 2013) Adidas reports regular annual revenues in excess of 10 billion dollars. (Bouchet, 2013) One of the things that has made Adidas such a highly successful company is their large target market. Adidas appeals to many individuals across many key demographics by offering clothing that supplements physical activity, something that many people enjoy to do. In addition, Adidas has branded itself highly in the consumers mind, offering both useful athletic wear as well as a good fashionable image. Because of this, Adidas appeals to even those who dont exercise or play sports often. (Bouchet, 2013) Despite their wide and varied target markets, however, Adidas has overlooked certain niche markets that have proven very profitable for other companies. They do certainly have room to expand and compete in these...

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