Marketing and Management Essay 2022

RUNNING HEAD: MARKETING AND MANAGEMENT
MARKETING AND MANAGEMENT
Name of the Student:
Name of the University:
Author’s Note:

MARKETING AND MANAGEMENT1
Q1 Essay

MARKETING AND MANAGEMENT2
Market
Segment
Marketing
Strategy to
reach a
market
segment
Product
Mix
Strategy
Pricing
Strategy
Channel
Strategy
Promotion
Strategy
Demographic The
management
team of this
company has to
follow the
penetration
strategy in order
to further
achieve deeper
customer base.
Larger
product
assortment
and product
verities must
be followed
by this
company.
Nike can
follow
market
penetration
strategy as a
pricing
strategy
(Schmidt,
Spann &
Zeithammer,
2015)
Extensive
distribution
strategy can
help Nike to
achieve its
business goal
(Green &
Keegan,
2019).
Nike can use
Omni-channel
promotion
strategy for
the promotion
purpose
(Berman &
Thelen,
2018).
Geographic For the
geographic
segment, Nike
can use Market
development
strategy.
The
management
team of
Nike can
follow a
strategy
which is a
product
based on
local market
trends
Competition
based
pricing can
help this
company to
compete
with its
competitor.
By
implementing
the
‘Extensive
Distribution
Strategy’,
Nike can
maintain the
distribution
procedure.
Omni-channel
promotion
strategy can
be beneficial
for this
company
Psychographic The identity-
based marketing
strategy can be
used by this
company to
attract the
psychographic
segment.
Premium
and
exclusive
product
strategy will
help this
company to
develop the
product mix
strategy.
Premium
pricing will
help this
company to
the
competitor
with its
competitor.
Exclusive
distribution
can be
followed by
this company
for the
channel
strategy.
The niche-
promotion
strategy will
help this
company to
complete the
promotion
part.
Behavioural The customer-
oriented
marketing
strategy can be
used by this
company to
attract the
behavioural
segment.
Larger
product
variance
across
different
levels can
help this
company.
By
following
the Mass-
marketing
pricing
strategy, this
company
gain an
extra
Extensive
distribution
strategy will
be beneficial
for this
company.
Omni-channel
promotion
strategy must
be used by
Nike to attract
the targeted
market
segment.