Marketing Strategies of Nike : Assignment

Added on - Sep 2019

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MARKETING STRATEGIES1
Table ofContentsIntroduction:....................................................................................................................................3Analysis on marketing strategies:....................................................................................................3Description of strategies in marketing plan:....................................................................................4Integrative strategies in Global environment:..................................................................................4Way to proceed with products:........................................................................................................5Conclusion:......................................................................................................................................52
Introduction:Marketing strategies play a critical role in growth of a business. The way an organization reachesits target customers and approaches them, impact the financial success to a great extent(Hollensen, 2015). However, the strategies vary on basis of several factors including the natureof target customers. Here, the marketing strategies used by Nike, one of the biggest footwear andapparel companies in the USA, are analyzed. The assignment also includes how Nikeimplements these strategies in the marketing plans, how the global environment shapes theirstrategies and how they conduct the entire process of marketing with their products.Analysis on marketing strategies:According to Sheth and Sisodia, (2015), development of new products helps an organization tostrengthen its position in existing markets. On the other hand, Perry (2014), stated thatbusinesses have to diversify their products to enter new markets. Nike nicely blends all thesestrategies together for making themselves more prominent in the marketplace. The organizationfocuses on developing new products regularly. The latest self-lacing shoe, HyperAdapt 1.0 canbe an instance in this case. The shoe moulds itself automatically when anyone steps in it. It isexpected that the new shoe will help Nike to increase its share in the global footwear industryfrom 30 % to 35 % (Forbes.com, 2017).Nike is mainly known as athlete footwear and apparel manufacturer. Along with these, itproduces several other types of products including gears for different sports, accessories.Additionally, it is aiming to launch new range of women’s apparel in the upcoming days3
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