Nike Marketing Strategies Report

This report examines Nike's marketing strategies for launching a 24/7 online customer support service. It analyzes the company's background, segmentation, targeting, and positioning model, marketing mix, and communication plan. The report also provides recommendations for Nike to effectively promote its new service and reach a wider audience.

MARKETING
STRATEGIES

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Background of company..............................................................................................................1
Segmentation, Targeting and Positioning Model........................................................................1
Marketing mix.............................................................................................................................3
Communication plan....................................................................................................................4
CONCLUSION................................................................................................................................5
RECOMMENDATION...................................................................................................................5
REFERNCES...................................................................................................................................6

INTRODUCTION
Marketing is the function which helps the business in determining and satisfying needs
and wants of consumers. It helps the organisation in achieving its all objectives and aim which
are based on increasing sale and profits of company (Burgelman, 2017). It involves functions
like, market research, collecting feedback from customer, setting advertising objectives and
targeting the proposed customers which are performed by marketing. The current report is based
on Nike which is an international sports good brand and is planning to start 24*7 online customer
support to increase its online sales. So marketing plan will be prepared by including all models
and strategies of marketing and promotion of this online customer support system of Nike
MAIN BODY
Background of company
Nike is an international sports brand which is regarded to as market leader within this
sector of sports equipment, accessories and apparel. It is producing apparel and sporting goods.
The ultimate mission of Nike is to bring inspiration and innovation among athletes. In order to
improve positioning of Nike as the market leader in way of sporting and apparel goods so they
need to use and improve its promotional and marketing strategies (Ottman, 2017). Nike is putting
together its marketing launch where the firm has planned to offer 24*7 online customer support
to increase its online sales.
Segmentation, Targeting and Positioning Model
Nike is planned to introduce its new online service to supporting 24*7 customers’ queries
with the aim of improving its online sales. It is essential for the company to implement the use of
STP model which will help in defining its targeted customers (Marketing Strategy of Nike – Nike
Marketing Strategy, 2018). Nike will use STP approach as it helps to identify the audience and
segments them on the basis of their characteristics. This will help Nike to get its position in
market according to which they would be planning their further marketing plan of online
customer support care.
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Figure 1: Segmentation, Targeting and Positioning Model
[Sources: Segmentation Targeting and Positioning of Nike, 2018]
Segmentation
This is the process of selecting group of people to whom Nike will be targeting to sale its
product or service at the time of launch. During segmentation of Nike the focus of marketing
team will be on segmenting types of athletes on the basis of behavioral, psychographic,
geographic and demographic segmentation. Nike will use psychographic segmentation at the
time of launch as it helps in attracting potential customers (Mahdi, Mazar and George, 2015).
Under this method Nike will be able to segment its customers on the basis of personality and
emotions of people or customers who like to purchase sports apparels as per their choices.
Targeting
This is very important component of marketing strategy at time when company is doing
various type of business. However, for the launch of 24*7 online customer support service will
target those customers who are buying its products and using social media as well like men and
women between age group of 15-35 who are athletes or sportspersons (Segmentation Targeting
and Positioning of Nike, 2018). It will be using differentiated targeting strategy under which
company will target at least 2 market segment and target group and Nike is doing the same.
Positioning
Nike need to use usage and product based position strategy so that they are able to create
awareness between people about its online customer’s support service running 24*7.
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Marketing mix
Figure 2: Marketing mix
[Sources: Marketing Mix the 7P’s, 2018]
Product-
It is essential for Nike to target the correct customers for its current product of online
customer support service. So this product must be showing its benefits to customers that how
online service will support them in choosing correct purchase of Nike products. The online
service 24*7 support service is enabling Nike to plan for target market that is involved of
customers using its other products and those who are regularly involved on social media. The
service of 24*7 online customer support which will be designed to increase in online sales of
company. This will enable Nike to grab more number of customers from market so that they are
increasing their sales which could be both online and offline.
Price-
This is the worth of money which company is offering customers and is the most
essential factor which customer consider while using product of Nike. So company must be
selecting the correct pricing policy for their regular and new customers. As the company is
launching new 24*7 online customers supports which is designed in way of improving the
customers for Nike. This will be service for company which they are planning so toll free
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services or internet connection which is required for is normally required at the time of online
purchase these will be the price for company for this service provided by them.
Place-
Selling the product with various website or online shopping sites is also one of the factor
of marketing plan (Solberg, 2017). There are many chat option which will be available at official
website of Nike and also with authorized sellers where the customer will be easily able to
connect with firm in case of any enquiry. These should be good and properly trained so that
website is giving them all best solutions for problems which are faced by customers.
Promotion-
There are many promotional channels where firm will launch its online support services
that is social media, official website, stores, etc. (Marketing Mix the 7P’s, 2018). Nike will use
promotional mix which will depend upon budget of company and communicating customers.
People-
The people or staff in online support customer care of Nike must have knowledge and
experience of customers handling in proper way.
Process-
This is how company is delivering its product to customers which should be proper so
that products and service are reaching to consumer on timely bases. There must be user friendly
access of online support care which is launched by Nike so that all customers could easily find
what they are demanding.
Physical evidence-
This is the online marketing of company which need to be very much effective and
include strategy of Nike in presenting product in market place. In this content should be
considered to be as most efficient in generating awareness among people which are its customers
and prospects as well. There should chat and toll free numbers of customer support system of
Nike so that they are having good experience with the physical evidence of company.
Communication plan
Advertising with use of various tools like that content, social media, public relations,
emailing and direct marketing is essential for the launch where the focus of Nike will be on
communicating key message for the launch that will be 24*7 online customers support to
worldwide buyers.
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Social media- This is new trend in marketing of products and service of company which
include tools like Facebook, Twitter and website of company (Strauss and Frost, 2016). This will
help the firm in in reaching both new and old customers of Nike at the time of launch of new
service.
Emailing- This strategy in communication plan will be used for attracting old customers
so that Nike is generating awareness among them. The main focus of Nike will be on content
sharing where Nike will be on sharing basic details of online support with key messages. In this
the firm will also share link to provide access details of new service to the customers with whom
they are getting in touch with company.
Content marketing- This is also a trending strategy which will be used by company to
providing measurable growth on monthly basis (Marketing Communication Strategy, 2018). But
Nike must take care of what content it is publishing on its website so that it could reach out to
more customers so it need to be written in quality and good terms of grammar and content.
CONCLUSION
From the above report marketing planning of Nike for the launch of its 24*7 online
customers support services is discussed. Nike will be make use of key messages for
communication which will helps in making buyers aware about new change of brand. The
company must be giving more stress on planning that how will they connect with new and old
customers so that its service is promoted in better way.
RECOMMENDATION
All these above stated strategies and communication plan is highly recommended to Nike
which will be helping them to promote their new 24*7 online customers support services. Nike
must use social media and email as marketing tool so that it is able to identify more and higher
number of customers.
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REFERNCES
Books and Journals:
Burgelman, R.A., 2017. 9. Complex strategic integration at Nike: Strategy process and strategy-
as-practice. Handbook of Middle Management Strategy Process Research, p.197.
Mahdi, H.A.A., Mazar, T.I. and George, S., 2015. A Comparative Analysis of Strategies and
Business Models of Nike, Inc. and Adidas Group with special reference to Competitive
Advantage in the context of a Dynamic and Competitive Environment. International
Journal of Business Management and Economic Research. 6(3). pp.167-177.
Ottman, J., 2017. The new rules of green marketing: Strategies, tools, and inspiration for
sustainable branding. Routledge.
Solberg, C.A., 2017. International Marketing: Strategy development and implementation.
Routledge.
Strauss, J. and Frost, R.D., 2016. E-marketing: Instructor's Review Copy. Routledge.
Online:
Marketing Communication Strategy. 2018. [Online]. Accessed through:
<https://www.educba.com/marketing-communication-strategy/>.
Marketing Mix the 7P’s. 2018. [Online]. Accessed through:
<http://marketingmix.co.uk/marketing-mix-7ps/>.
Marketing Strategy of Nike – Nike Marketing Strategy. 2018 [Online]. Accessed through:
<https://www.marketing91.com/marketing-strategy-nike/>.
Segmentation Targeting and Positioning of Nike. 2018. [Online]. Accessed through:
<https://www.bartleby.com/essay/Segmentation-Targetting-and-Positioning-of-Nike-
P3K8KJKE36ZYS>.
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