Practical Skills Assessment Portfolio on Contemporary Issues in Marketing
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This portfolio discusses the marketing campaign strategy used by Nike to increase sales growth, customer retention rate, E-Commerce sales, brand image, and market share. It also covers the tools used to measure success and the AIDA model for creating awareness towards its products.
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Business Management BMP4004 Contemporary Issues in Marketing Assessment 2 PracticalSkills Assessment Portfolio Submitted by: Name: ID:
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Contents Introduction3 Campaign objectives3 Measurement of success3 Campaign plan4 Communication 1: Facebook5 Communication 2: Instagram5 Communication 3: Twitter6 Communication 4: YouTube6 Communication 5: Website6 Reflection on Campaign6 Conclusion7 References8
Introduction Business management is the bridge which monitors and organize all the operations held within the organization at all levels of the management, with this it is important for all organization to have a well defined business management. This will also help in achieving all the objectives of the business. So, in order to achieve all theobjectivesofthebusinessdifferentkindsofstrategiesareframedand implemented, out of which one is Marketing Campaign(Tristanto and et. al., 2021).For promoting our brand and products this campaign strategy is being used. By using different varieties of media tools, either online or offline campaigns are run. In context to Nike, it's a Public Limited Company, trading in Accessories, Apparel and Sports equipment industry. It was founded on 25thJanuary, 1964 by Bill Bowerman and Phil Knight. It's headquarter is in Beaverton, Oregon, U.S., having 75,400 employees across the world.They are delivering a wide range of products, out of which shoes are the most demanding and popular among all their portfolio. Even, their first product was running shoes, which was first launched in 1987. Campaign objectives The marketing campaign objective is to introducing a range of marketing communication techniques that can cater the company's target market. Nike's shoes campaign aims to increase sales growth, to increase customer retention rate, to increase E-Commerce sales, to enhance brand image and to acquire maximum market share which is directly related to the company's profitability(Hanlon, 2021). Measurement of success For measuring the purpose of the business, whether it is performing well or not, do any necessary changes and control is required over it or not. Is the business producing the desired output or not, and if not they at which part of the business, do we required to make the necessary changes(Swift, 2001).To know all the output of the business, managers looks after some necessary performance measuring tools, some most popular and general tools are stated below: Key Performance Indicators (KPIs) –It's a performance measuring tool used by the manager to check whether the performance of the employees
andbusinessareontrackornot.WiththehelpofKPIs,thecomplex performance of the businesses are transformed into the simple pattern, which is more easy to understand. Six Sigma –It is a tool used by the managers which helps in predicting the performance of the employees and the businesses, by using this tool the error rates will not be more than 3.4% per one million chances. This tool woks on DMAIC principles. It starts with identifying the requirements of the customers, measuring the current performance of the business and find out all the flaws, thenanalyzingallthedatawhichhasbeengatheredfromthedifferent sources and find the reason for all the faults which are being occurring in the business and finally ending with take the necessary corrective action in order to make control over all the faults which occurs in the business performance. CustomerRelationshipManagement(CRM)–Whentheorganizations wants to make the customers to be shifted toward the loyal and profit making customers,usesCRMsoftware.Ithelpsintrackingandmonitoringthe customers interaction with the company and also will help in identifying the potentialcustomersandtransformingthemintotheloyalandregular customers(Ruben, Vinodh and Asokan, 2018). Enterprise Risk Management (ERM) –It is a tool used by the companies to measure and identify the risk involved in the business. If these business risks are not monitored, managed and controlled then will be the reason for the business failure. It acts as an early warning key indicators, which diverts the focus of the management towards the business risk which is occuring. Campaign plan The plan made by the company for the marketing campaign is by using STP framework. STP stands for segmentation, targeting and positioning. Segmentation –When the large group of people are divided in small groups on behalf of the customers same kind of people it is termed as segmentation. On behalf of the homogeneous nature of the customers the division of the people are made. Nike target its customers on the basis of age, gender and
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geographical area in this campaign. The age groups includes 15-40 years and area is selected as tier one and tier two cities. Targeting –At, this stage the particular group has to be picked up, which the company has segmented on behalf of their nature. For this, Nike as selected the male group, of 15 to 30 age groups and mainly they will focus the running sports shoes to those customers and for the another group they had selected is of women, aged from 20-50, and shoes offered to them is yoga shoes for women's. Positioning –Their is a lot of competition in each and every industry, so to make the image of the companies brand in the mind of the customers for a long run is the main motive of the company at this point of time. So, to stand outamongthecompetitorsinthemarketNikelaunchedthesports equipment'swhichareuniqueandmanyfeatures,whichismakingthe companies products looks different among the customers, and encouraging the customers to purchase them. This helps the company to make them their regular and repeated customer. Communication 1: Facebook As, in today's scenario we can see the craze of social media. So, running an advertisement through Facebook is a great idea. Not only youth but the old age people are also continue involved in scrolling the social media. The database from different online site are being collected by the Nike and then used while doing Facebookcampaign(Franceschini,GalettoandMaisano,2018).Whenacustomer search the product on any online site the date is being gathered by the company and then by paying the particular sum of amount they started flowing the advertisement on Facebook, when the customer repeatedly sees a same advertisement, this made the customer to make a purchase, apart from this kind of flash sale and discounted prices are being pop up in the advertisement, which creates the more interest of the buyer towards the product and will be high chances that it will turn into sales. Apart from this when the company launches its new product this it the fastest way to showcasetheirproductinashortperiodoftimeamongthelargeamountof customers.
Communication 2: Instagram Everyone is aware about the raising trend towards Instagram among the youngsters. They are the one who have a strong presence over this platform, and also now it is the source of generating income also, by performing some sponsored videos(Standaert,2022).When the company wants to showcase their products they either they use the paid advertisement strategy or they approaches some famous personalitieswhichhadnumerousfollowersandisverypopularamongthe audience, by paying the sponsorship amount the company will leads in generating the leads and will results in making profit and sustainable growth.
Communication 3: Twitter It can be considered as the king of hashtag's, the craze for using hashtags are seems to be started through this platform only. By making a twit by a company will get reach among all its followers, and by making that tweet retweet, again it will reach among all its followers, and this process continues to goes on, and will reach a numerous customers, just by posting a innovative advertisement of the product by the company. Communication 4: YouTube
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When the people start losing its craze for reading the YouTube was the one which changed the picture. The interest and experience towards watching things are more good as compared to reading(Pettinger, 2020).By giving their shoes to some famous you tubers for the review they can seek the attention of the customers. Apart from this the advertisement can be flashed before the video get started. Communication 5: Website The platform that anyone prefer to know about the product is the website. So, applying advertisement on the websites in order to make promotion of the product is the fantastic idea. For this the company make search of his target audience and then finallymadethepaymenttotheprospectivewebsitewheretheywan'ttheir advertisement to be get flashed. Reflection on Campaign Reflection on campaign refers to how is a marketing campaign beneficial for the company. It helps to analyses the overall process involved in the marketing campaign. The process involved in introducing a campaign can be analysed with the help of AIDA model of marketing. Nike can adopt this model to create awareness towards its product. The AIDA model defined as Attention, Interest, Desire and Action.
Attention\Awareness -It refers to how a organization can gain attention of people towards its products or services. As we know that the first impression can be the last impression therefore company needs to market its campaign in one shot which can attract the people on large scale. It can be achieved using focused adverting, personalized messaging, effective tagline etc. Nike can employ this with the help of high profile spokesperson and celebrities to endorse their product. Nike can focus on athletes to promote their sports shoes. Nike can place ads in unexpected locations to gain customer attention, It is known as guerilla marketing. Interest -It is hardest part to create interest among people that they can be the potential buyer. Customer sees the product that how it be beneficial for them. Company needs to focus on that how it can benefits its customer with products. When interest of buying is developed among the customer, they becomes the potential buyer. Hence it is important to deliver the product message in customized way that is useful for intended audience. Nike can outfit celebrities with the pair of their sneakers which then becomes center of attraction and helps to create interest among people. Desire –This is the stage at which the mindset of the customers wants to be change. The companies tries to change the thinking of the customer from I like this product to I want this product. The interest towards the products starts tobetransformingintomorelikelyintodemand.Thecustomerstarts assuming that how he is feeling while using that particular products, how he will feel when he will have that product with him. ACTION –Now it's a time for the companies to showcase some action, which will initiate the customer to made purchase for that particular product. For this Nike offer the EMI facilities, the company can also release some special offers and discounted coupons. The limited stock and flash sales techniques are being selected by the company in order to involve customer for purchasing the product. Conclusion
From the above research it can be concluded that the business management plays a important role in ensuring the proper management of the business. With this the marketing campaign helps in attracting more number of clients and also to achieve the organization objectives. Moreover, the tools used for measuring the success and performance of the organization is a very crucial in order to take the necessary actions timely. The digital marketing tools will help in marking the marketing campaign successful. Lastly, AIDA Model help in identifying their customers, and making the customers feels motivated to purchase the products. References
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Pettinger, R., 2020.Introduction to management. Bloomsbury Publishing. Standaert, W., 2022. Product digitalization at Nike: The future is now.Journal of Information Technology Teaching Cases,12(1), pp.28-34. Franceschini, F., Galetto, M. and Maisano, D., 2018.Designing performance measurement systems: theory and practice of key performance indicators. Springer. Ruben, R.B., Vinodh, S. and Asokan, P., 2018. Lean Six Sigma with environmental focus: reviewandframework.TheInternationalJournalofAdvancedManufacturing Technology,94(9), pp.4023-4037. Swift,R.S.,2001.Acceleratingcustomerrelationships:UsingCRMandrelationship technologies. Prentice Hall Professional. Hanlon, A., 2021.Digital marketing: strategic planning & integration. Sage. Lee, S.H. and Hoffman, K.D., 2015. Learning the ShamWow: Creating infomercials to teach the AIDA model.Marketing Education Review,25(1), pp.9-14. Tristanto, T.A. and et. al., 2021. AIDA Model as a Marketing Strategy to Influence Consumer Buying Interest in the Digital Age.Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences,4(4), pp.12575- 12586.