The basketball sneaker market holds great importance to basketball players and fans and is an important part of the footwear market. A rough size of the basketball footwear market can be determined by the total market revenue divided by the average price of basketball sneakers to find the approximate number of units sold in a year. In 2016, the basketball footwear market in Canada reached a total revenue of $140 million (Hutchins, 2016). In the current market range from companies such $190. The total market revenue $140 million divided by the average price of basketball shoes equals an approximate of 740, 000 units sold within this year.
The major segments of the basketball footwear market in Canada are basketball players and enthusiasts that …show more content…
Consumers buy based on the benefits and features provided by the basketball shoes. Additionally, functional and psychological needs are primary factors when considering consumer behaviour (Grewal et al., 2015, p.111). Basketball shoes can be worn daily, durable, and for the athletes provide full functionality on the court, supporting speed, agility, endurance, and an overall strong physique with an advanced design. The behavioural components of consumer behaviour in buying relates to customer loyalty, brand satisfaction, and product functionality. Those who enjoy the sport of basketball or fashion prefer various types of footwear and therefore are the major consumers. For instance, brand loyalty such as Nike, Jordan, Adidas, and athlete endorsements influence a buyer’s decision. The marketers do not target individuals who dislike basketball, and people who are above or below the age of the target market. As a result, it is a source of opportunity because it introduces a product line such as socks, insoles, and cleaning spray for consumers outside of the target …show more content…
Moreover, the consumer to consumer distribution channels that play a role in basketball sneaker market is Amazon, Craigslist, Kijiji, and EBay. The majority of manufacturers and suppliers are located in Asia. More specifically, Nike’s manufacturing map displaying footwear manufacturers lists China, Vietnam, and Indonesia as the top three suppliers for producing Nike footwear. Out of 115 factories, China has 29 factories, controlling 25 % of total Nike factories. Second, Vietnam with 23 factories, making up 20 % of total factories in Nike. Lastly, Indonesia with 16 factories (Nike, Inc., 2016). Further, the design of the basketball sneaker requires the use of specific raw materials. According to Cole (2015), all Nike footwear regardless of athletic footwear or casual footwear is made up of six essential components. The ingredients to Nike shoe are “polyester, rubber, EVA foam, cotton, synthetic leather, and leather” (Cole, 2015). Suede and plastic are also used in the making of a
The major segments of the basketball footwear market in Canada are basketball players and enthusiasts that …show more content…
Consumers buy based on the benefits and features provided by the basketball shoes. Additionally, functional and psychological needs are primary factors when considering consumer behaviour (Grewal et al., 2015, p.111). Basketball shoes can be worn daily, durable, and for the athletes provide full functionality on the court, supporting speed, agility, endurance, and an overall strong physique with an advanced design. The behavioural components of consumer behaviour in buying relates to customer loyalty, brand satisfaction, and product functionality. Those who enjoy the sport of basketball or fashion prefer various types of footwear and therefore are the major consumers. For instance, brand loyalty such as Nike, Jordan, Adidas, and athlete endorsements influence a buyer’s decision. The marketers do not target individuals who dislike basketball, and people who are above or below the age of the target market. As a result, it is a source of opportunity because it introduces a product line such as socks, insoles, and cleaning spray for consumers outside of the target …show more content…
Moreover, the consumer to consumer distribution channels that play a role in basketball sneaker market is Amazon, Craigslist, Kijiji, and EBay. The majority of manufacturers and suppliers are located in Asia. More specifically, Nike’s manufacturing map displaying footwear manufacturers lists China, Vietnam, and Indonesia as the top three suppliers for producing Nike footwear. Out of 115 factories, China has 29 factories, controlling 25 % of total Nike factories. Second, Vietnam with 23 factories, making up 20 % of total factories in Nike. Lastly, Indonesia with 16 factories (Nike, Inc., 2016). Further, the design of the basketball sneaker requires the use of specific raw materials. According to Cole (2015), all Nike footwear regardless of athletic footwear or casual footwear is made up of six essential components. The ingredients to Nike shoe are “polyester, rubber, EVA foam, cotton, synthetic leather, and leather” (Cole, 2015). Suede and plastic are also used in the making of a