Summary
Summary Unit 1: P1 - EXPLORING THE FEATURES OF TWO CONTRASTING BUSINESS
- Module
- Unit 1 - Exploring Business
- Institution
- PEARSON (PEARSON)
Unit 1: P1 - EXPLORING THE FEATURES OF TWO CONTRASTING BUSINESS
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The company expects to raise sales by an average of 8% to 10% per year on a currency-neutral basis throughout the three-year period between 2022 and 2025 with its new
strategy. By 2025, gross margins are expected to rise to between 53% and 55%, with
operating margins rising to between 12% and 14%.
Adidas' strategic goals include developing the brand reputation and improving the consumer
experience. The company’s strategy is executed by an innovative attitude in all aspects of
the business, as well as digital transformation.
It aspires to go above and beyond customer expectations by modifying its product line to
meet changing consumer needs. Adidas' success is due to its advancement, which is
combined with product and marketing innovation.
Adidas’ objective is centred on developing creative items that address consumer
requirements. Rather than depending on product endorsements, the company strives to
establish its worth by creating a high-performance product that is tailored to the demands
of athletes and customers. It also focuses on improving facilities, processes, and systems to
enable speedier product creation and production.
In order to achieve its aim, Adidas employs a diversified targeting strategy to reach out to
young adults, adults, and children who are interested in fitness and sports. Although it offers
to consumers aged 13 to 40, the majority of its customers are between the ages of 15 and
30 and are from the upper-middle class or the luxury class.
Purpose
Adidas' fundamental purpose is to make it clear what the business stands for as a company
so that its customers understand what it delivers and why it exists. The brand aspires to
generate excitement and enthusiasm for sports on a personal and relatable level. Adidas
uses a range of methods to engage with its customers, including social media and retail.
Similarly, the company is always present in all of the places where its target audience
gathers in order to provide a unique experience for everyone.
Mission and vision statement
Adidas' mission statement is "to be the global leader in the sporting goods industry with
brands built on a passion for sports and a sporting lifestyle,". To improve its competitive
position, the company is constantly strengthening its brands and products.
Adidas' vision statement is "to be the design leaders in the global sports industry with a
focus on getting the best out of athletes with performance-assured products." The Adidas
Group's long-term goal prioritises product performance because it aims to enable athletes
to perform to their full potential. At the same time, the company focuses on designing these
products in a fashionable manner.
Sector
Adidas, as a manufacturer of sports equipment and clothing, would fall under the Secondary
Sector of business, producing products that will be consumed by individuals and thus
contributing (GDP). Creating goods contributes to economic growth, which is critical for
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