Marketing Plan for Nike - PDF
Added on 2021-04-23
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Introduction Nike is known as leading company in the sportswear industry around the worlddue to keeping the quality of products at high standard. Its Headquartered is establishedin Beaverton, Oregon with having top position amongst the American multinationalcorporations. Nike has become the top producer of the athletic shoes and apparelsaround the world but it also a gained good name in term of manufacturing sportsequipment. Phil Knight and Bill Bowerman founded this company in 1964. Blue RibbonSports was the original name of the Nike Company. September 8, 1969 was the date onwhich the company was incorporated. A Greek goddess of victory “Nike” wasrepresented by renaming of the company as “Nike Inc.”, in 1971. Designing,development, marketing and sale of services, accessories, equipment, apparel, andathletic footwear are the main categories of the products and services offering by thecompany. Company is currently operating in more than 52 countries and there areabout 56,500 employees.Produce a basic marketing plan for your chosen organization. In relation to meeting the needs of customers, the development of innovative productsfor the customers is the key aspect considered by the company. There are certain levelof higher competition is facing by the Nike Company such as Adidas and Reebok aretwo main companies which are creating huge competition for the Nike. Competitiveability of Nike, Inc. has been increased because of development of modified sneakers incontext of meeting the needs of elder people. The comfortable level of the elder peoplewas the key area of consideration while producing modified sneakers. Stability isanother key future offering by the company in its sneakers for elder that protect themfrom falls. An integrated microchip has embodied in the sneakers based on whichground surface is analyzed and detected based on which safety options are activatedthat helps in averting possibilities of falls. Therapeutic and health benefits are also
provided by these shoes to users but important aspect is that the fashion based needsof the customers are also considered in designing these shoes. Evaluate the marketing plan. Executive Summary Presentation of marketing plan proposal for Nike Company is the key purpose of thisreport. The report is prepared for the senior management of the company that woulddevelop their understanding of marketing strategies that could be used for marketing ofthe modified sneakers for elder people. In respect of both the competitor andenvironmental analysis the role of the marketing research and information is veryimportant. This help in identifying the ways based on which marketing of the productcould be carry out in effective way through 4Ps of marketing mix. A marketing planbudget is also presented in this report in relation to aim of ensuring that success ofmarketing plan would be attained. A contingency plan has also provided in this reportbased on any level of failure in marketing plan would be managed. Situational AnalysisSWOT AnalysisThere are different kinds of the strengths, opportunities, threats and weaknesses whichare associated with modified sneakers that could be evaluated based on applyingSWOT analysis. Strong share in market is strength and across the globe, Nike isleading the market of sports apparel and Footwear industry. So in respect of existingmarket, sneakers could be market in successful way. In relation to distribution ofsneakers it has seen that Nike has a strong strategy of market, global distributionchannel (chain), and strong capability of using effective design and technology basedon which values in respect of quality could be maintained. Strong financial position isanother key strength of the company. In context of weaknesses of company it has seen that higher prices of the products incomparison to other brands are the major weakness of company.
Untapped elderly market is one of greater opportunities available for the company toproceed. Therapeutic and health footwear products could be developed by the companyfor gaining good position in this target segment of the market. Allegations of unfair labor practices and counterfeit products on the market are twomajor threats for the company. It could possible that the competition would be increaseby launch of similar products by Adidas and Puma.Marketing ObjectivesBuilding of database of at least 100million loyal customers is the key and primaryobjective of the marketing strategies of Nike in next five year periodBased on selling the products, the company is targeting to achieve 55% of the marketshare. Another important marketing objective of the company is to achieve about 80% of thecustomers’ awareness in next five years of period. Based on this objective of thecompany, upper class, middle class and teenagers are all targeting by the company.Important thing regarding the marketing objectives of the company is that theirmarketing objectives are realistic, measureable, and specific and time plan of five yearshas set by the company. Marketing StrategyIn respect of capturing more shares in market, the significant role is played by themarketing strategy. Based on effective marketing strategy in relation to modifiedproducts, the management could determine whether these products have the potentialto gain the positive attention of the customers. Targeting the marketElderly population in society is the main target market in relation to modified sneakers.The United Kingdom, Australia, United States and some other markets in Japan, andEurope. The Generation born between 1946 and 1964 (baby boomers) is dominatingthe target market for the modified sneakers. It is expecting that increase in this market
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