Assignment Marketing Plan of NIKE

Added on - 20 Sep 2019

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Running head: MARKETING PLAN OF NIKEMARKETING PLAN[Document subtitle]
1MARKETING PLAN OF NIKETable Of ContentsIntroduction......................................................................................................................................2Brand Description............................................................................................................................2Market Analysis and Research........................................................................................................3Market Description......................................................................................................................3Evaluation of Target Market........................................................................................................3Target Market...........................................................................................................................3Market Entry Recommendations.....................................................................................................4Market Demographics..............................................................................................................4Behavior Factors.......................................................................................................................5Need of the Market...................................................................................................................5Growth of the market...............................................................................................................5Competitive Analysis.......................................................................................................................5SWOT Analysis...........................................................................................................................5PESTEL Analysis of Environment..............................................................................................7Effect of Porter’s Five Forces on Nike........................................................................................7Industry and Competitors Analysis..............................................................................................8Value Chain Analysis of Nike.........................................................................................................8Marketing Mix.................................................................................................................................9Production of Nike.......................................................................................................................9Price of Nike..............................................................................................................................10Promotion of Nike......................................................................................................................10Place of Nike..............................................................................................................................11Marketing Strategy Recommendation...........................................................................................11Strategy of Nike.............................................................................................................................11Financial Analysis.........................................................................................................................12Conclusion.....................................................................................................................................13References:....................................................................................................................................14
2MARKETING PLAN OF NIKEIntroductionTuvalu earlier known as Ellice Islands is located in the Pacific Ocean in between Australia andHawaii. It is an island nation where nine islands are grouped together in Southern Pacific, and itwas unbounded from the rule of U.K. in 1978.Based on an evaluation of the Shoe Market andstrengths, Nike will introduce the footwear and apparel market in Tuvalu region.Nike hasplanned to introduce its brand using Penetration Pricing strategy, advertising at the extensivelevel and expanding the distribution levels to increase the growth rate and revenues. This Brandis planning to combine the cost-effective and unique design to launch at least four percent shareof the market in the initial year.The following sections will present a Market Plan for the Nike toinvade in the region of Tuvalu by doing extensive search and analysis of a market segment ofTuvalu, competitive analysis, presenting its strategy, financial analysis and marketing mix for thebrand touncover a smooth experience for itself.Brand DescriptionNike is considered to be the most well-known provider of apparels and shoes which are used forathletic purposes. It was formed in the year 1968 under the Oregon's state's law. Our mainactivity involves worldwide selling and marketing, designing and developing the athletic apparel,footwear, services, activities, and equipment. It is considered to be the widest footwear seller inthe athletic domain in the world. All the autonomous contractors produce all our products. Ahuge position has been obtained by this business in the market places with the help of attractivedesign, innovative quality and well-drafted strategies of the market.
3MARKETING PLAN OF NIKEMarket Analysis and ResearchMarket DescriptionThe environment of marketing for Nike represents the opportunities which are overpowering theexisting benefits. The company has strong belief over the fact that it can successfully meet all thechallenges in the environment. Robust relationships with retailers, suppliers, and consumers canhelp ruin the competitors. Therefore we must reply to shifts and trends in the preference ofconsumers by doing adjustment of new product development, categories and style makinginfluence to fitness and sports by doing marketing at extensive manner. Nike possesses abundantmarket information. This market information can help to understand that who gets served withwhat needs and how the better communication can take place. Each brand of Nike operatesmainly in single industry geographically- development, designing, footwear of athletics,marketing, accessories, services, and equipment. Nike also works on direct selling to Customerswhich is managed in every segment of geography.Evaluation of Target MarketTarget MarketThe main focus of the Nike brand remains attentive for athletes, but still it can deliver muchmore than the shoes. Nike provides the best environment and surrounding which suits theexperience an athlete wants. Nike has over 90,000 employees worldwide; there is variouscategorization of departments for product and geographic divisions which has created a flexiblestructure of leadership and responsibilities which create overlying management. Nike indulgesitself in endorsing the celebrity for marketing the products like athletes in golf, tennis, soccer andbasketball. Also many big events of Sports are now being sponsored by Nike to make huge brandfollowing and awareness (Piercy, et al., 2015).
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