Report. Product. Nike has produced a new product called

Added on -2019-09-23

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ReportProductNike has produced a new product called the ‘You Bar’ which is an energy bar. The energy barwill be differentiated from the competing energy bars that are already in the market as it containsthe nutrition in sufficient amount that can give the consumers a combination of all those nutrientsthat he consumes in the entire day and are required by the body to work efficiently. Some ofthese nutrients are vitamins, minerals, whole grains and fibers. Thus, no other food item will beable to provide all these nutrients in one dish, food item or bar. It will help in filling the gaps inthe existing market because the people do not take care of their health and they eat a lot of junkfood. So, they do not get the nutrients in proper amounts in the entire day. This bar will helpthem to consume all the essential elements of diet and will keep them fit with good taste and notmuch effort. Therefore, it is a good idea from the perspective of marketing. The value that theproduct will bring to the market is that it will help the consumers in solving their fitness relatedissues. The consumers will get something unique and healthy. The product will fulfill the needs,wants and preferences of the consumers. SWOT of the energy bar:Strengths:1.Healthy product2.Easy to consume3.AffordableWeaknesses:1.High cost of manufacturing2.Does not fight hunger1
4.Solve health related problems ofconsumers5.Easily accessible6.Portable7.Avoid consumption of junk food.Opportunities:1.The health conscious people willconsume more.2.The growing children can be targeted.3.Can be sold in the wide variety ofmarkets all over the world.Threats:1.High level of competition2.May not get adopted by the peopleeasily.Price PointThe company has planned to keep the prices at $5 per bar. The company has planned to keep theprices low because it faces a threat from few of the competitors and also the company hasplanned to attract more people by keeping the prices low as it is new in the market. The lowerprices will help the company in gaining more profits in the future (Solomon, 2014). This is thepenetration pricing strategy that the company is pursuing. Target Segment2
The target market for this product is the growing children who require nutrients in sufficientamount and the youth who are health conscious. So, the people in the age group of 10 years to 30years will be targeted. Also, the people who are very much concerned about their health, theirgrowing weight, their unhealthy food habits, patients of diabetes, etc. who suffer from the mentalpressure and stress to become healthy will be targeted. MessageThe message that I want to send to the target market is that the product that is introduced by thecompany is useful for their health and it has the essential components and features that will helpthe people in maintaining their fitness and in remaining healthy. Also, the product has the abilityto keep them free from many of the related health problems, and it is very different from theother health products that are available in the market. 3

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