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Marketing Strategy Report of Nike

   

Added on  2020-07-22

18 Pages5123 Words55 Views
MARKETINGSTRATEGY

TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................1PART 1............................................................................................................................................1Situational analysis.....................................................................................................................1Competitive Advantage...............................................................................................................6Evaluation of current marketing strategy....................................................................................7PART 2 .........................................................................................................................................10Segmentation, Targeting and Positioning.................................................................................10Recommended objectives and goals.........................................................................................12Recommendations of the marketing strategies based on the marketing mix of Nike...............13CONCLUSIONS............................................................................................................................16REFERENCES..............................................................................................................................17

INTRODUCTION Marketing involves so many actions such as market research, advertising, promotion andselling products and services. It is the most crucial part of any business for attaining itsobjectives and success (Mahdi and et. al., 2015). Organisations are thus required to designeffective marketing strategies. Development of these policies requires evaluation of the internaland external environment that influence business. In the present piece of work, an overallsituational analysis will be performed by conducting entire marketing audit. In addition to this,major competitors will be identified so that strategies can be prepared by considering them togain competitive advantage. Further, current marketing strategy of the entity will be described. Inthe second part of the report, sub-brands will be selected and customer segmentation will beperformed on the chosen one. In addition to this, goals and objectives will be recommended tothe organisation for the selected sub-brand. Lastly, marketing strategies were framed dependingupon the marketing mix.The report revolves around the organisation Nike, which is involved in the business ofsporting footwear. The statement used by the entity for promotion is "To bring inspiration andinnovation to every athlete in the world". This organisation is a public limited firm that operatesunder apparel industry. The fashion sector being such a competitive one, it is necessary for theNike to possess effective marketing strategies. PART 1Situational analysisSituational analysis is performed by the mangers and high-level employees to analyse theinternal and external environment that impacts upon the functioning of the organisation. Forpresent case report, to understand the capabilities of the firm, customers and businessenvironment, Nike is required to draw a SWOT and PESTEL analysis. SWOT will help entity inevaluating the internal environmental factors that can affect organisational performance.Whereas, PESTLE will help in evaluating the effect of environment on the business functioning.Internal Environment Analysis: This evaluation will help entity in identifying the strengths,weaknesses, opportunities and threats present (Rauch and et. al., 2015). Thus, by making use ofthe strategy Nike can take advantages from the upcoming chances by eliminating the threats. In1

context to marketing, this evaluation will help in observing the lacking factors of the companyand strengthening of which can increase sales. SWOT analysis:StrengthsWeaknessesNike is a global footwear brand havingstrongbrand image.Nike is a leading brand that design shoes for avariety of ports such as football, racing, golf,tennis, etc.The entity provided fast services to thecustomers by implementing "Make to Stock"policy. The research and development department ofthe organisation is the strongest.Nike is a retail sector which is highly pricesensitive.The entire income of the group is highlydependent of the footwear business, thus incase if this sector goes down it will impact theentire company.OpportunitiesThreatsThere is a wide range of sports that are beenliked by people all over the world. Consequentto this, Nike has opportunity to develop its'business.The strong product development calibre offersnumerous opportunities to the entity.The global expansion is easier to accomplishbecause of high brand recognition. The business of the entity is also present inthe countries having high political andeconomical stabilities which can impact uponbusiness.This industry has a high level of competitionwhich may impact upon the overalleffectiveness of the NikeExternal Environment Analysis: This analysis helps in identifying the external factors that may impact upon thefunctioning of the organisation (Kumar and Bansal, 2015). In context to, Nike this evaluation isvery crucial in the formation of the marketing strategies. PoliticalThe entity operates internationally which implies that it has to work indifferent and variable political situations. Further, there are some countrieswhich have highly unstable political conditions. Hence, it is a bit challenging2

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