Reclaiming Glory: Prospecs' Strategic Rebirth in the Korean Sports Market
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This study analyzes the brand revitalization strategies of Prospecs, a Korean sports brand established in the 1980s. Despite experiencing several periods of declining sales and near-bankruptcy, Prospecs has sustained its position in the sports industry. Focusing on marketing innovation, brand strategy, and consumer relationship recovery, this research examines how Prospecs successfully navigated these crises. Using a case study methodology, supported by a survey of 300 consumers, the study evaluates brand perception and the effectiveness of its strategies. The analysis identifies three core strategies adopted by Prospecs: • Sponsoring major professional sports in Korea to enhance visibility and reputation • Launching and positioning "walking shoes" in alignment with the well-being trend • Implementing rebranding initiatives, including retro marketing and a redesigned logo Survey results show that consumers perceive Prospecs as a 'national sports brand' and demonstrate a positive reception to the new logo. This study offers empirical evidence on the effectiveness of rebranding, positioning, and retro marketing strategies, contributing to theoretical discussions on brand management and crisis response. Building on these findings, the research proposes strategic directions for Prospecs to sustain its competitiveness in an evolving market, emphasizing sustainable marketing and innovation. Additionally, it highlights the use of consumer surveys as a method for verifying strategy effectiveness. By providing a comprehensive case study, this research contributes to the literature on brand revitalization, illustrating the recovery and growth strategies of a Korean sports brand in a globally competitive landscape.
Abstract
This study analyzes the brand revitalization strategies of Prospecs, a Korean sports brand established in the 1980s. Despite experiencing several periods of declining sales and near-bankruptcy, Prospecs has sustained its position in the sports industry. Focusing on marketing innovation, brand strategy, and consumer relationship recovery, this research examines how Prospecs successfully navigated these crises. Using a case study methodology, supported by a survey of 300 consumers, the study evaluates brand perception and the effectiveness of its strategies. The analysis identifies three core strategies adopted by Prospecs: • Sponsoring major professional sports in Korea to enhance visibility and reputation • Launching and positioning "walking shoes" in alignment with the well-being trend • Implementing rebranding initiatives, including retro marketing and a redesigned logo Survey results show that consumers perceive Prospecs as a 'national sports brand' and demonstrate a positive reception to the new logo. This study offers empirical evidence on the effectiveness of rebranding, positioning, and retro marketing strategies, contributing to theoretical discussions on brand management and crisis response. Building on these findings, the research proposes strategic directions for Prospecs to sustain its competitiveness in an evolving market, emphasizing sustainable marketing and innovation. Additionally, it highlights the use of consumer surveys as a method for verifying strategy effectiveness. By providing a comprehensive case study, this research contributes to the literature on brand revitalization, illustrating the recovery and growth strategies of a Korean sports brand in a globally competitive landscape.
참고문헌 (18)
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