Marketing Plan and Its Elements

This assignment focuses on the development and components of a marketing plan. It requires students to analyze different aspects of marketing, including target audiences, product positioning, pricing, distribution channels, and promotional strategies. Students are expected to demonstrate an understanding of how these elements work together to create a cohesive and effective marketing plan.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Marketing concepts and roles and responsibilities of marketing functions.....................1
P2. Roles and responsibilities of marketing in Nike..............................................................3
M1. Roles and liabilities in marketing environment .............................................................4
M2. Importance of interrelationship between marketing and other functional unit...............5
D1. Critically evaluation of interrelation between marketing and other functional unit .......5
TASK 2............................................................................................................................................5
P3. Comparing the way of applying marketing mix to planning in Nike and Adidas...........5
M3. Evaluation of various strategies used by Nike and Adidas.............................................8
TASK 3............................................................................................................................................8
P4 & M4. Marketing plan for Nike........................................................................................8
D2. Strategic marketing plan that applies 7Ps......................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is a broad term that helps in attaining the desired results. With the help of
marketing, company makes their customers aware about their products by describing all its
features. It influences users to buy their products on the place of competitors' goods. Marketing
is very helpful in creating awareness about its existence and products or services. Its main
objective is to capture a large market share and to serve the consumers according to their
requirement (Getz, 2012). This project is based on Nike which is an American multinational
corporation. It is engaged in the design, development, manufacturing and marketing as well as
sales of footwear, apparels and accessories, etc. This report will explain about roles and
responsibilities of marketing functions, interrelationship between marketing and other functional
units, comparison between market strategy of Nike and Adidas along with the marketing plan of
Nike.
TASK 1
P1. Marketing concepts and roles and responsibilities of marketing functions
Marketing is a process by which Nike creates value for its customers and provides better
quality of goods or services according to their requirement. Marketing process aids in building a
positive brand image of company and also helps in maintaining healthy relationship with its
customers.
Concept of marketing- There are many concepts of marketing which are given as below-
 Production concept- This theory is used at the time of industrial revolution until the
early 1920's in which complete focus was given on increasing efficiency of production.
According to this framework, manager should focus on the manufacturing operations so
that high quality products at low price can be provided to its consumers because end
users only want to take better superior goods at lesser price.
 Selling concept- This concept was used in early 1930's in which companies adopted
effective and aggressive marketing for attracting the customers. It is because; an
individual only purchases those goods that are well known in the market (William, 2012).
 Marketing concept- It is introduced after the world war II that relies on pull strategy that
means company is focused on building a strong brand image in the market so that
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consumers on their own will purchase the products. It can be achieved only through
marketing.
 Societal Marketing concept- It states that company should focus on the needs and wants
of target market and deliver merchandise that should be better than its competitors
(Ormrod, 2014).
Marketing process in Nike- Before adopting any process, Nike considers the following
points which are given as below-
 Situation analysis- It is an important analysis by which Nike evaluates the internal as
well as external factors that affect the business operations. It aids in taking effective
decisions related to marketing process.
 Marketing strategy- This tactic supports in building a positive brand image. So, Nike
should adopt strategy according to the market situation and company’s position. There
are many strategies which can be adopted by business such as STP approach, marketing
mix and so on.
 Decision of marketing mix- After evaluating all strategies, Nike adopts marketing mix
strategy that includes products, price, place and promotion elements that assist in serving
its target market.
 Implementation- After determining the best strategy, company implements formulated
strategy so that it can attain the set objectives on time.
Role of marketing function in Nike:
 Defining and managing brand- Marketing function supports in positioning the brand in
market and defines identity, mission statement, target market, etc. It builds a positive
brand image in the market.
 Pull off resources- This function arranges all important resources that helps in promoting
goods or services in the market. It includes manpower, media and so on.
 Message- Marketing department helps in preparing the message for advertisement that
will be conveyed to its target market. It is an important aspect as through this, company
can convince its customers for purchasing the services (Campbell and Martin, 2015).
Responsibilities of marketing functions-
 The main responsibility of marketing is to make strategy related to market and align the
same with company’s tactics and objectives.
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 Other liability is to conduct market research so that it can know about the requirement of
target customers and accordingly, serve them (Garrigos-Simon, Lapiedra Alcamí and
Barberá Ribera, 2012).
 Marketing department has obligation to develop new products according to the taste of
customers so that it can achieve the desired results.
 It has to do internal as well as external communication for promoting its goods or
services that is important as through this, company creates awareness about the offers.
 It creates coordination between sales and marketing department that is important for
improving the sales performance and business growth.
P2. Roles and responsibilities of marketing in Nike
Marketing strategies are crucial for the success of company. If Nike wants to achieve its
mission statement then it should adopt the best marketing strategy as per internal as well as
external environment. This approach helps in serving the customers according to their
requirement that aids in converting them into loyal users which means that they will not switch
easily to any other brand. In Nike, there are various functions that have to be performed by the
marketing department and managers which are given as below-
 Financing of services- Nike always invest in that project which provides good returns in
the future. Generally, every plan needs proper amount of money and time for getting the
best results. So, company put their best efforts for getting the desired results. For
attracting customers, Nike invest proper time in the marketing activities that assist in
creating a positive brand image in the market.
 Network of distribution- This network is helpful in delivering the goods or services
from manufacturer to end users. This channel is selected according to the target market
and marketing situation. Nike adopts that way which is helpful in satisfying the need of
it's consumers (Thackeray, Neiger and Keller, 2012).
 Pricing- It is an important element of marketing mix strategy and aids in knowing about
sales and revenue of company. Nike sets price of its products according to the target
market so that consumers can afford merchandise easily. It is important because if they
will keep the prices high then it may lose its customers and vice versa.
 Product management- It helps in manufacturing products or services according to the
standards or requirements of consumers that helps in attracting large number of people
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towards its products (Lipsman and et. al., 2012). It contributes in the success of company
because it serves the society according to their tastes and preferences.
Roles and responsibilities of marketing related to Nike are as follows:
 Digital marketing- Through this, Nike promotes its merchandise online and provides its
goods or services via internet. It has many benefits to company as well as to the
consumers. By this, end users can purchase many things while sitting at home that saves
time and energy.
 Customer experience- It is the liability of a marketing manager to make sure that
consumers have good experience of the customers so that they can remain loyal to
company for a long period of time. Nike focuses on this aspect and try to give pleasure to
its customers by providing good quality of goods as per their requirement at right prices.
 Competitors- Main responsibility of marketing manager is to identify the competitors
and its policies that will help in serving consumers effectively and accurately. This will
assist the organisation in achieving desired results or outcomes.
 Communication policy- It is an important element that assists in maintaining good
relation with its customers. This policy should be decided according to the target market
and availability of media. Nike communicate with its end users by using internet,
television, etc. For launching a new product, there should be proper internal as well
external communication that supports in attaining the set targets on time.
M1. Roles and liabilities in marketing environment
In marketing, there are many factors that affects the business activities and company has
no control on these elements such as consumer taste, economy fluctuation, political etc.
Sometimes, these environment supports the Nike in satisfying the needs and wants of customers
and is responsible for providing services according to their requirement (Fader, 2012). There are
many roles and responsibility of marketing such as-
 To identify the requirements of customers and to make strategies like marketing mix as
per the market situation because marketing also helps to know about current market
situation.
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 To know about the consumer's attitude, buying behaviour that will assist in keeping the
price of products or services.
 To maximize the growth and sales of Nike.
M2. Importance of interrelationship between marketing and other functional unit
Marketing is very important for other functional unit because it provides various types of
information to them that are needed for that department. key elements of successful marketing
are product, price, place and promotions which is very important for getting success in the
market. With the support of this, operation can be carried out easily and effectively that will help
in achieving the desired result or outcome (Mihart, 2012).
Marketing department is responsible for collecting the information about the customers
that is helpful for other department like production, sales, finance, human resource and so on
because every section will work according to the collected information of customers.
D1. Critically evaluation of interrelation between marketing and other functional unit
According to Fader, (2012), Marketing is very important function because it collects all
necessary information that are necessary for other functions. If these elements are properly
managed then other functions of like production, human resources etc. can be done easily. Data
that is collected from marketing , it will be used in production process because production
manager knows which type of products should be made that will satisfy the requirement of
customers.
TASK 2
P3. Comparing the way of applying marketing mix to planning in Nike and Adidas
Marketing mix is highly supportive for providing or delivering the products and services
in an effective manner (Nguyen and Simkin, 2012). It includes many elements like product,
price, place and promotion and so, it is helpful in serving customers according to their
requirement and creating a positive image in the market. It includes the following things-
 Product- Nike should manufacture products or services as per consumer's requirement
that will aid in capturing a large market share.
 Price- Company should keep that price which can be afforded by its target market. If its
customers belong to upper class then it can keep high prices and vice versa. It can also set
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prices according to the product’s situation like if goods are at introduction level of
product life cycle then it should set prices, that is, neither too high nor too low (Space and
Space, 2015).
 Place- For selling merchandise, there is requirement of place from where customers can
buy products. It can be a physical outlet or online that will be decided as per the customer
base.
 Promotion- It is a crucial element because it is only one that can attract the customers
towards its goods or services. It is helpful in increasing sales, revenue and brand image of
company. Nike can promote its products in various ways like personal selling,
advertisement on television, etc.
This concept [Marketing mix] is used by company when it is going to introduce new
products and plan in the market. Difference between marketing strategy of Nike and Adidas are
as follows-
Marketing-mix Nike Adidas
Products
Price
It provides various range of
products like shoes, apparel,
equipment, etc.
It uses value based pricing
strategy in which it considers
consumer perception about the
value of goods. In other terms,
it can be said that it considers
the response that is received
from customers related to its
products. In 2014, this strategy
increased the sales of company
(Papasolomou and Melanthiou,
2012).
It sells their products
Its major products are
footwear, T-shirts, sweatshirt,
etc. which has the combination
of technology and design.
It uses price skimming as well
as competitive pricing. In price
skimming, company sets high
price in the initial phase.
However, in competitive
pricing, it sets price of
merchandise according to the
competitors like Nike.
Generally, it sells their
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Place
Promotion
People
Process
Physical evidence
throughout the world.
Consumers can buy its goods
from any retailer, official
website or any retail outlet.
It promotes their products
through advertising, personal
selling, direct marketing, sales
promotion, public relation, etc.
(Jones and Rowley, 2011).
People are more important part
of business because without
manpower, company can not
serve to it's customers. Nike
has large number of employees
as well customers.
Consumers have to follow
simple process for purchasing
these products.
It is an evidence of services
which proves that company
provided their services to the
customers. For example-
Warranty cards, etc.
products through retail outlets,
multi brand showrooms and
online.
Mostly, it promotes their
products through television
and product placement. In this,
it uses players who are popular
throughout the world like
Sachin Tendulkar etc.
Its end users are loyal towards
the products.
Its purchasing process is
difficult because its goods are
not easily available in the
market.
Guarantee card etc.
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M3. Evaluation of various strategies used by Nike and Adidas
For attaining the desired result, company uses different types of strategies that makes an
organisation effective and efficient (Malhotra, Birks and Wills, 2013). Nike and Adidas uses
business plan, marketing research, survey analysis and so on, with the help of this, Nike collects
information about it's target market. These elements is very helpful because it provides recent or
current information about the market or factors that may influence the operation of an
organisation.
TASK 3
P4 & M4. Marketing plan for Nike
It is a written document that contains information or data related to marketing strategies
and tactics (Dibb and Simkin, 2013). It is prepared for a short period of time (generally 12
months) that includes information related to marketing like cost, goals and action steps.
Company should prepare this document according to the environment or market situation so that
it can achieve the specified results on time. It should be dynamic so that it can change their
strategy according to the requirement and can reach to it's destination.
Marketing plan for Nike is as follows:
It is a business document that describes or outlines the marketing strategy and tactics.
Generally, it is for a short period of time and includes various things related to marketing such as
costs, goals and action steps. Marketing plan should be flexible and according to environment so
that it can achieve it's objectives and produce a desired result. This plan starts from identification
of specific customers needs and how company will fulfil this requirement for generating an
acceptable return. It is made after analysing market situation [opportunities and threats] and
detailed action programmes like budget .sales forecast etc. This plan have many objectives which
are as follows-
 To provide direction to the company for reaching it's destination.
 It supports in increasing sales or revenue and market share.
 Enhance customers relations and internal communications etc.
 Nike' s marketing plan includes various steps which are as follows-
 Define objectives or mission statement- For making marketing plan ,firstly Nike should
set it's objectives for which it is operating it's business. Objective means what company
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want to achieve in future that is important because it provides clear image of an
organisation and provides direction to the company for reaching at it's destination.
 Identify target market- After setting objective, it is necessary to identify it's target
market to whom it want to serve for achieving it's mission statement. Target market can
be decided on many factors like demographic ,which market will provide more revenue
etc.(9 Steps to Building a Marketing Plan. 2017)
 Situation analysis- While preparing marketing plan, Nike should evaluate the market
situation whether related to clients and price. It can analyse through PESTLE and SWOT
analysis. In PESTLE analysis, company can know about external factors that affects the
business activities like political, economical ,social, technological, legal and
environmental factors. Company should consider it while formulating marketing plan.
With the help of SWOT analysis, Nike can know about it's strengths ,weaknesses, opportunities
and threats by which association can utilize it's full strengths and may remove it's weaknesses
that will assist in achieving competitive advantages over the competitors (Tian and Borges,
2012).
 Strategies and tactics- It should be selected on the basis of it's marketing goals. It is
helpful for Nike company to achieve competitive advantages against rivals. Strategies
should be selected after analysing market situation and competitors policy.
 Marketing budget- After doing all above things, Nike should allocate the budget for
each and every activities of marketing because it helps in controlling the expenses and
protects the company from financial trouble in next coming years. It should be made after
conducting investigation of the investors in the market and analysing each activities.
 Controlling- It is most important element because it helps in achieving it's desired result
that Nike want to achieve. Plan should be properly controlled by every team members if
it want to achieve target successfully and with in specified time period.
 Research- It should be conducted continuously so that if there is any change in the
market then Nike can take necessary action accordingly that will be beneficial for the
company (SPACE and SPACE, 2015).
These all above steps is followed by Nike while making marketing plan that's why it is a
successful business in the country.
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D2. Strategic marketing plan that applies 7Ps
Marketing plan for Nike are as follows-
 Product- It should provide the products as per the requirement of customers.
 Price- It should keep that price of their products which can be afford by it's target market.
 Place- It should sell their merchandise through online as well through retail outlets.
 Promotion- Best channel for promotion is internet. Nike should promote their products
via computer network.
 People- It should hire that manpower which have skills or knowledge to deal with
consumers.
 Process- It should provide simple process so that target market can get it's goods easily.
 Physical evidence- It should provide bill, guarantee card that will a proof that it has
provided their services.
CONCLUSION
It can be concluded from the above report that marketing is an essential function as it
assists in the growth or success of company. From the above study, it has been assessed that a
marketing manager has many roles and responsibilities that have to be performed for attaining
the best results. Also, it can be articulated that there are different strategies related to market like
marketing mix which is used by Nike and Adidas that helps in achieving the competitive
advantages over it's competitors. While formulating the marketing plan, company should analyse
the marketing situation, set objectives that provide direction to the business, allocate budget to
each activity related to marketing and must have control on the activities undertaken so that tasks
can be competed in an effective and efficient manner.
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Books and Journals
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Decision. 50(10). pp.1880-1890.
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Getz, D., 2012. Development, and Marketing. Sport and adventure tourism. p.49.
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Online
9 Steps to Building a Marketing Plan. 2017. [Online]. Available through:
<https://www.lamarketing.net/9-steps-building-marketing-plan/>. [Accessed on 16th
June 2017].
Elements of the marketing mix. 2014. [Online]. Available through:
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