Introduction βShoes are one of the demanding product in the market. βNike is consider as one of the leading company in the international market βItβs Headquarter is in USA βThe mission of the company is to provide inspiration and creativity in shoes. 2
SWOT Analysis 3 StrengthsWeaknesses β’Low cost of manufacturing β’In-House professionals β’Strong awareness of the company β’Iconic Relationships β’Superior Marketing Capabilities β’Lawsuits β’Poor Labor Conditions in International β’Dependency on US Market OpportunitiesThreats β’Emerging Market β’Product Innovation β’Efficient Integration β’Marketing budget β’Foreign Exchange Currency Risks β’Enhanced the competitive Pressure
Target Market Demographic: The company will target customer between the age of 15-40 in which both male and women will be cover. Youth will be the target market of company. Geographic:Market cover by Nike are North America, China, Followed y Western Europe and other international market. Psychographic:Nike targets young people who actively love fitness, sportsmen and sports enthusiasts who continue to be part of their lives. Behavioral:Nike insists on how its products give customers a feeling. Clearly, Nike takes the trend of "If you have a body you are an athlete" and "If you are an athlete, the products of Nike make you feel athletic 4
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βNike has an objective to enhance its market share by 15%. It is expected to be achieving whom eight months. βEnhancing it sales volume by 25% in the upcoming year. It is expected to be cover in one year βSatisfying the shareholdersof the company is the other objective of the company Marketing Objectives and Goals 5
Marketing Strategies Product: Nike will sell sneakers, clothing as well as sporting gear. Running Shoes is the main focus for the company. Place: Multi branded retailers as ell as special Nike shops around the worldsell Nike sneakers. Price: it will adopt vertical pricing management where consumers are active on various level of markets. Promotion: Nike is premium brand that offer well designed as well as pricey goods. Therefore, the company will adopt e-marketing method that will help in covering maximum number of consumers. People: Markets are really important to Nike's growth, as the organization mainly relies on the niche markets because it is important to consider Nike's needs of goods to create more sales. Process: Nike's service delivery to the consumer is a very effective mechanism and program, as it provides a wide sales chain, simple and easy manufacturing processes and the highest quality of the services. Physical Evidence:Nike's brand identity is so strong that a name pops into the heads of its consumers as you talk of sports and it is Nike. 6
Marketin g Channels 7 Content MarketingSocial Media MarketingEmail Marketing SEODisplay Advertising
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Summary It can be noted from the aforementioned study that Nike is one of the world's leading firms. The business is supposed to make high profits that help it expand successfully and efficiently on the competitive market. The business is supposed to achieve high income and marketing costs should rise as marketing campaigns are heavily concentrated. However, the company will get high return from the investment that will be done on marketing due to the main reason, the level of increase in competition force the companies to highly focus over their marketing strategies to attract maximum number of consumers to the certain extent. 8
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References βAhmed, R. R. (2016). βStrategic Marketing Plan of Nike β.ResearchGate, Indus Institute of Higher Education,40, 300-450. βChilds, M., & Jin, B. (2018). Nike: An Innovation Journey. InProduct Innovation in the Global Fashion Industry(pp. 79-111). Palgrave Pivot, New York. βFurukawa, H., Matsumura, K., & Harada, S. (2019). Effect of Consumption Values on Consumer Satisfaction and Brand Commitment: Investigating Functional, Emotional, Social, and Epistemic Values in the Running Shoes Market.International Review of Management and Marketing,9(6), 158-168. βKim, M. (2020). How Phil Knight made Nike a leader in the sport industry: examining the success factors.Sport in Society, 1-12. βKornum, N., Gyrd-Jones, R., Al Zagir, N., & Brandis, K. A. (2017). Interplay between intended brand identity and identities in a Nike related brand community: Co-existing synergies and tensions in a nested system.Journal of Business Research,70, 432-440. βMangundap, B. C., Massie, J. D., & Rumokoy, F. S. (2018). Comparative Research of Consumer Purchase Intention Towards Original And Counterfeit Product Of Nike Shoes In Manado.Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis dan Akuntansi,6(1). 10