Marketing Management Strategy | Assignment
Added on 2020-02-24
10 Pages3528 Words100 Views
MARKETINGMANAGEMENT
Table of ContentsIntroduction.................................................................................................................................................3Background of the company........................................................................................................................3Tasks............................................................................................................................................................3a) Market segmentation, target market and positioning strategy of Nike...............................................3b) Relation between market segmentation, target markets and positioning with strategic market planning of Nike.......................................................................................................................................5c) Benefits of STP and implications of improper marketing strategies....................................................7Conclusion...................................................................................................................................................8References...................................................................................................................................................9
INTRODUCTIONMarketing strategy is considered as the foundation of a marketing plan in which business entityfocuses on using diverse tools to promote and publicize products and companies at the market place.Segmentation, targeting, and positioning are the primary strategies of marketing that define the waysthrough which business can promote its products at the market place[ CITATION Zen171 \l 1033 ]. Thus,in this respect, the present research study has been emphasizing on Nike, Inc which is an Americanmultinational corporation that is involved in designing and manufacturing of footwear, apparel, andother accessories. Furthermore, in the study discussion has been included regarding the relationshipbetween STP strategies and strategic planning of the company. Lastly, the researcher has discussedimplications of improper marketing strategies on Nike. BACKGROUNDOFTHECOMPANYOriginally, Nike was known as Blue Ribbon Sports which was founded by a track athlete PhilKnight. Nike is world's largest supplier of athletic shoes and apparels, and this made the company growas a developed brand. Globally, the brand has employed more than 40,000 employees all over theworld. The brand is globally recognized because of some products and services which also contribute inenhancing customer base. There are varied subsidiary names of the brand such as Nike Pro, Nike Golf,Nike+, etc. Moreover, Nike is regarded as one of the greatest supporters in promoting global athletesand sports team. 1
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