Marketing Communication & Consumer Insights

This assignment delves into the field of marketing communication, analyzing its evolution from integrated to relationship-based approaches. It highlights the significance of understanding consumer insights and the influence of organizational culture on marketing strategies. The document also touches upon topics such as ethical considerations in marketing, particularly within the context of personal bankruptcy, and explores experience marketing concepts. Furthermore, it examines case studies of apparel marketers like Nike and the adaptation of marketing mix elements in international markets.

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Marketing Principles and Practice
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Marketing Principles and Practice
Contents
a. Explain key marketing concepts and terminology applicable to the given organization..........................3
b. Identify the role of marketing strategies and programs in achieving Nike’s objectives, including ethical
considerations..............................................................................................................................................5
c. Explain how marketing concepts and principles are used in Nike’s daily organizational operations.......8
d. Explain the relationships of the marketing functions to other functional areas in Nike.........................10
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a. Explain key marketing concepts and terminology applicable to the given organization
Marketing concepts deal with the major factors of concern that are required to keep in mind for
the making better strategic planning and increase sales in business. Marketing itself is a huge
concept that evolves around the surrounding factors and make a gist of integrated format of
business objectives. There are generally five basic marketing concepts which varies in their
functional aspects. As per the needs of the market, the marketing concepts are developed and
upgraded with the required changes of the market. The five concepts are:
Production concept: Consumers usually prefer widely available products and that too in less
expensive and cost effective prices. This concept mainly focuses on operations and hence can be
referred to as operation oriented concept. During the invention of production concept, it took the
maximum size of the market in a huge formation during the 1950s. During this era, business
fields and organizations were mainly concerned with the productions and manufacturing. Along
with that efficiency of the firms also mattered. Says Law states that supply creates it's own
demand. Managers of the concerned organizations focus on achieving great and higher level of
out at lower costs and high quality along with intensive distribution strategy. According to the
demand of the market, the marketing strategies are ought to adjust with the needs of expanding
market, but however, this intensive distribution strategy does not help the company to survive in
the market, if they do not adapt themselves to change and become flexible. Primarily, the needs
of the customers are given less importance and need of increasing output is given much priority.
It does not matter what exactly the customer wants but how the company will produce output.
Product concept:
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Consumers do favor for the products with most trustworthy quality, innovation and performance.
This concept mainly focuses on the need of customers and idealizes their opinion to be much
favorable as they think, the more good a product is, the more customers will be loyal to their
products. Uniqueness is a factor that customers look for in products and that opposed to the
competitive products. This concept is hugely seen and applicable in niche markets like
electronics and technologies. There is a chance that this concept leads to marketing myopia and
therefore, the companies need to give serious attentions on innovation and features providing the
customers requirement and priority. The companies that follow this concept must concentrate on
the technologies so as to achieve the optimum customer satisfaction by producing innovative and
excellent features.
Selling concept:
The customer base and market focuses on products and services that are highly promoted by the
companies. Marketing of the products and services is the essential factor that takes all the credit
apart from just selling the items. Unless people fall for the products and grow a liking for them, it
is not possible for the company to make customers buy them. Selling and promotion are given
much priority to achieve marketing success. Companies strive to persuade the customers who are
inert and thus, by creating effective promotional strategies, the inertness of the customers are
converted into buying motive through highly innovative planning and selling actions.
Marketing concept:
This is most needed concept for any type of organization and this focuses on the marketing
targets and delivery of products along with the competitive nature of the fields. Marketing
strongly put stress upon the fact that brand name is important to attract customers. It is important
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to create such a brand name with efficient performance, that customers themselve prefer the
concerned organizations.
Societal marketing concept:
The societal promoting idea was a branch of the showcasing idea wherein an association puts
stock in offering back to the general public by creating better items focused on towards society
welfare. Some have addressed whether the promoting idea is a suitable reasoning during a time
of natural weakening, asset deficiencies, unstable populace development, world craving and
destitution, and disregarded social administrations. Are organizations that effectively fulfill
purchaser needs essentially acting in the best, long-run interests of customers and society?
It is just the same as common marketing concept but focuses only on the factors that does well
being of the surroundings and the society. Consumer wellbeing and societal ethics are the main
priority of this form of marketing concept and thus, keeping in mind the best ways to produce
and foster promotion, the companies act accordingly.
In case of Nike, that is a leading brand for sports merchandises and their marketing strategy rests
completely on the image of the products. Nike has been able to develop such brand name that
especially the soccer field is incomplete with them. The customization of sport celebrities and
new technological implementation have helped the company to develop this big image. They did
market segmentation to focus on the areas where they are ruling and can take leads later on.
Sports was the best recommended field for them to revive and grow their business in here. Apart
from that targeted the customers, have innovated style and fashion, pricing strategy and
distribution strategy have helped them to build a compact and effective marketing planning.
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b. Identify the role of marketing strategies and programs in achieving Nike’s
objectives, including ethical considerations
The marketing strategy is an important part for any organization and plays a vital role in the
development of the company sells procedures. The ultimate goal or rather objective of any
business is to earn profit by either producing products or selling them or by discharging service
against deals of monetary matters. However, to attain this basic objective, different companies
adapt different strategies to influence the customers for using their brand products and services.
The marketing is a huge concept and it's subsidiary elements needs to be in complete
coordination, otherwise that imbalance would be leading to adverse effects. All the aspects of
marketing mix are interrelated and interdependent on each other. Therefore, sequential planning
and execution is the utmost requirement for filling up the gaps. The interference of the gapping
are eliminated and focuses on maximization of the profit. The marketing strategies look for areas
where selling activities are supported by market feedback.
Development:
Marketing helps to create products and strategies develop new ideas to execute them in the
market. This system seek research the marketplace where the products and services are to be
sold. The ethical aspects of the customers, their culture and competitors are analyzed to create
better and innovative plans. This strategic treatment helps to get the core of potential customers,
amount they are willing to invest and product differentiation from competitors.
Determination of optimal prices:
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The marketing research helps to set the prices of the products according to the demand and price
of the competitors. This is the stage where pricing is rightly done by analyzing the types of
customers and their needs. If the customers are looking for high priced materials, the company
has to make their products and services that much valuable and worthy. Whereas, if the
customers finding for low cost products, then the companies has to regulate their pricing
strategy.
Effective distribution:
It is easy to decide where to sell and operate the business, once the company knows the value of
their product, the importance of their product and the customers who are willing to buy them.
This helps in maximization of marketing effectiveness. The young generation are more likely to
shop using electronic payment methods and online shopping techniques whereas, older
customers prefer retail shopping. Marketing research shows the appropriate place to operate the
business.
Marketing communication assistance:
Marketing research again helps to create the brand and it's components. It takes a lot of effort and
proper planning to implant the image and objectives of the bussiness amongst the market.
Therefore, marketing research and development, both are essential for the communication
purpose with the market. If the company fails to interact with the customers and
miscommunication happens, it leads to downfall of the brand image. Therefore, it is essential to
identify the correct customers and promote marketing only to them depending upon the products
that the company sell. The communication of the product in wrong market and inappropriate area
results in loss of time and efforts as well as loss of efficient targeting.
Organizational impact:
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A better marketing strategy and plan helps the different departments of the organization to work
smoothly and accordingly. They have to communicate and work because they are after the same
goal that is the organization's objective. The interrelationship of the departments help to build up
clear communication process and ways to seek out better plannings for promotion of the products
and services.
Ethics are considered to be the code of principles and moral values that helps to observe the
behavioral attributes of employees in an organization. Apart from the importance of marketing
elements, ethical consideration is the most vital aspect based on which the other functional
activities are done and stakeholders are controlled. According to the relevant surveys and
information’s, Nike needs to make their decisions and act with fairness, impartiality and equity.
Respecting the individual rights and imparting better lessons and treatment to the employees
when it comes to the business objectives, is necessary for holding up their brand image. There
are many ethical dilemmas that Nike has been facing and that have created challenges for them.
c. Explain how marketing concepts and principles are used in Nike’s daily organizational
operations
The marketing concepts of Nike is considered to be one of the best marketing mixes. It depends
mainly on the pull strategy that establishes the hold of facing their competitors like Reebok and
Adidas.
The product marketing mix of Nike offers a wide range of apparels, sports and casuals. The price
mixes designs their price range according to the competitiveness in the market. Nike is always a
brand of high premiums and therefore, the pricing strategy is lucky to get through accounting to
their profitability and vertical integration. The place is another amongst the four marketing mixes
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of Nike that deals with the multi-geographic areas that the company covers across the globe. The
promotional mix is the most vital and profitable mixes of Nike. Marketing strategies and
strengths primarily depends on promotion of the products and their acceptability to the
customers. Nike has always served to be the best among the athletes and sports and the company
deliberately make use of those personalities with whom they can reach to the core of people. It is
usually the role models and celebrities that people admire and not a company being materialistic.
Thus, it comes under the strategy of the company's marketing policy to attract their attention
whom they admire. The marketing consists of individual as well as organizational activities
facilitating the exchange relationship stronger by creation, pricing, distribution and promotion.
The main marketing aim needs to satisfy the customers, target the potential and right customers
and give tough competition to its competitors by staying ahead of them. Creation of good
relationship helps the company to boost up their communication and societal aspects of working
that not only benefits their external environment but also helps in the development of the
organization. The day to day organizational functioning has to learn a lot from the practical
practices and techniques of marketing. Organizational structure and ethics changes rarely, but
marketing strategy changes as soon as the demand of the market changes. Therefore, it can be
considered that the organizational ethics are much knowledge oriented and follow written
statements and on the contrary, marketing is wide and practical approach that requires no hard
and fast ethical laws.
The marketing concept are the philosophies that the organization follows to carry out it's
business objectives and is the idea fostering success of the organization. Customer priority is the
primary motive and aim of Nike and therefore, they design their strategies according to that. It is
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not important how much good or bad a product is, but organizations must be honest enough with
their performance and cooperate with the customers' requirements.
Nike is recommended to have both process and organizational development for improvement of
the organizational structure and ethics. The advantages of their outlook is that they are very
much customer focused and relationship focused too with high strategic goals along with fair and
good amount of visions. The disadvantages of this process is that it is over flexible in nature that
hampers the balance of work and business management. If the company wants to make the best
out of its resources, then proper to the point planning is necessary for the teams rather than
plannings that involves twist and turns to kill the time of customers. Management must focus on
easy convention of messages and motto of the company that would fairly attract much better
bunch of customers.
d. Explain the relationships of the marketing functions to other functional areas in Nike
The hierarchical structure specifically impacts accomplishment of authoritative goals. As per
Beach (2007), structures empower choices to be actualized and objectives to be accomplished.
Nike Company is a sportswear maker having some expertise underway of shoes and games
attire. It works in more than 44 nations all around and utilizes more than 900,000 individuals.
The organization utilizes outsourcing procedures to amplify generation and lower costs. Work
concentrated exercises are performed in Asia where work is less expensive. It utilizes a
framework structure where cooperation is stressed and assignments separated among divisions
(Holmes, 2004). These incorporate Marketing, HR, Production, Accounting and Development
and Design divisions. This paper will look at Nike's objectives and mission in connection to its
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reality. The association structure utilized will likewise be surveyed the extent that fulfillment of
objectives is concerned. Talked about issues will be abridged toward the end.
The organizational structure of Nike have directly influenced the objectives of the company.
Structure is an important factor that enables the decision making, goals to be achieved and
implementation of those goal oriented strategies. Nike uses outsourcing strategies to lower the
costs and maximize production. Nike is a leading brand and producer of sportswear and they
operate their business with outsourcing strategies in different countries of the world by
innovating the athletes to create rebel in their field. The centralized and matrix structure of Nike
has helped the company to grow and increase it's efficiency. Coordination is seen in the centres
that deals in overseas production. The line managers and general managers are bound to report to
CEO and are also answerable to him. The independent overseas marketing have however,
affected the system and employees are seen to get exploited as because the headquarters are
being unable to control these. Purchase of stakes will bring an immediate solution to this
problem and thus, will be an influencing step for the making decision and continuing overseas
process.
The matrix structure of the company involves the amalgamation and functioning of the HR
department, marketing, production, accounting, development and designing departments.
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