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Marketing Strategy Assignment - Nike

   

Added on  2020-07-22

15 Pages4521 Words67 Views
Marketing Strategy

Table of ContentsINTODUCTION..............................................................................................................................1TASK 1............................................................................................................................................1Company Overview................................................................................................................1Competitive Advantage..........................................................................................................5Evaluation of Marketing Strategy..........................................................................................7TASK 2............................................................................................................................................7Segmentation, Targeting and Positioning...............................................................................7SMART Objectives...............................................................................................................8Marketing Mix for Jordan......................................................................................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11

INTODUCTIONMarketing is a discipline which allows a manager in exploring as well as utilising marketfor the purpose of ensuring higher productivity and growth rate. Basically, it is a field of studywhich assists organisation in promoting and influencing customers to buy their products. It isused for establishing an inter-relationship in between internal and external forces. There aredifferent tools and techniques which are used by managers to analyse market and prepare plansand policies to tackle changes (Bertrand, and et. al., 2010). Today, this function plays a vital rolein company as it provides information regarding market trends which allows company inadjusting its resources and directing them in the right direction. Nike is one of the multinationalfirms which uses marketing as a strategic tool to enhance its market viability and effectiveness.Currently, it is competing with brands like Adidas and Puma who are making it difficult for theorganisation to gain rapid market share. This report is based on the ways Nike use marketingstrategy as a tool to overcome its own weakness, threats and exploit opportunities using its ownstrengths. This assignment will also cover the ways in which company segments, targets andpositions its product in the market to gain a better response from customers. TASK 1Company OverviewNike is an American multinational corporation which is engaged in designing,developing, manufacturing and global sales of sports footwear, equipment, accessories, apparels,etc. Headquartering of company is based in Beaverton, Oregon in the Portland MetropolitanArea. It is the world’s largest supplier of sport shoes and wearable. It is also the major producerof equipment used in sports industry. The revenue of company is staggering 30.601 billionpounds in 2015 and its operating profit was stated to be 4.175 Billion pounds. Nike wasestablished in 1964 and from last 54 years, company has outgrown its own vision of being topsportswear organisation in the world. Company mainly focuses on designing and developing theshoes, lifestyle apparel, accessories and sports equipment (Chen, Fay and Wang, 2011). Productsare designed keeping in mind the athleticism of prospects. But they can be worn for athletic aswell as non-athletic purposes. Nike targets most of the segments such as men, women, kids, etc.Key categories of the product offering are running wear, basketball, football and specific trainingwear. Company covers every major field of sports existing such as baseball, cricket, golf,football, volleyball and other recreational sports as well. Most of the products are sold under1

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