Detailed Marketing Audit Report of Nike: Strategies & Objectives

This marketing audit report provides an overview of Nike's marketing strategies and objectives. It begins by defining marketing and outlining Nike's financial, strategic, and communication objectives, further explaining these objectives using a 3x3 matrix. The report then delves into the marketing planning process, covering business plans, executive summaries, propose statements, situational analysis, organizational objectives, action plans, and segmentation variables. It also examines Nike's marketing philosophy and its impact on organizational culture and competitive advantage. The report discusses the buyer decision process across different time zones and applies the 5-GAP model to identify service quality gaps. It concludes with a SWOT analysis, summarizing Nike's strengths, weaknesses, opportunities, and threats. This document is available on Desklib, a platform offering a wide array of study tools and resources for students.

MARKETING AUDIT
Name of the Student
Name of the University
Author Notes
MARKETING AUDIT (Name of the Student)

Table of Contents
MARKETING AUDIT..............................................................................................................1
1. Introduction........................................................................................................................ 3
2. Marketing Objective............................................................................................................3
2.1 Marketing Planning Process.........................................................................................4
2.2 Marketing Philosophy....................................................................................................5
3. Background........................................................................................................................ 6
3.1 Origin of Nike – Background Information......................................................................6
3.2 Original company quest - Nike......................................................................................7
3.3 Vision statement...........................................................................................................8
4. Buyer Decision process......................................................................................................8
1st time zone....................................................................................................................... 9
2nd time zone..................................................................................................................... 12
3rd time zone..................................................................................................................... 12
5. 5-GAP Model.................................................................................................................... 12
6. SWOT analysis................................................................................................................. 13
7. Conclusion....................................................................................................................... 14
8. Reference......................................................................................................................... 15
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1. Introduction
The way in which the business is done by the promotion of a particular product or
service to meet with the needs of the customers and build relationships is termed as
marketing. Marketing is one of the pivotal means for the creation and satisfaction of the
customers though the various concepts of business management process. The aim of
marketing is to formulate an activity plan for the associative findings of the product and
services meant for the communication and values of the customer. Marketing is one of the
major process through which the consumers have an image of the product or the
organization and through which the business of the organization. The overall analysis of the
marketing is attributed to the fact that the image of the company is built through the analysis
of marketing. Therefore, marketing is surely one of the most important parts for the process
of business that helps to flourish with the help of the exchange of relationships between the
consumer and the organization.
The aim of the study is to trace the objectives of marketing for Nike. There are a
number of planning process and philosophies essential for marketing process that are
essential for the marketing technique for the company. The overall marketing audit for the
company has been discussed which relates to the background of the study as well as the
mission of the overall plan.
Questions –
1. What one understands by Marketing?
2. Marketing Objective
The marketing objectives of Nike are as follows –
 Financial Objectives - To increase business and create profit for the shareholders of
the organization along with sales of the company at a rapid rate
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 Strategic Objectives - To innovate products that are there for the betterment of the
athletes all over the world
 Communication Objectives - To retain employees in the organization for the
betterment of growth in the aspects and to analyse the recommendations for the
challenges in the organization.
3X3 Matrix Objectives
Figure – 3X3 Matrix
(Source – Fanning, 2018)
In the above diagram, the 3x3 matrix represents the typical nine factors for the
process of B2B marketing process have been stated. The marketing for a product or service
totally depends on the type of market in which the expansion is being done which is again
variant on the new or the existing type of market which is present. The diversification of the
product is being done which is one of the most potential case in the matter if turn. The entry
of the new marketing force for the strategies as well as for the development of market is to
be reckoned with the company while expanding into the market. The aspect of market
diversification is one of the prime aspects in the marketing strategy which means that the
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existing market as well as the product image is implanted in the mind of the people. The
strategy related to the market expansion is included in the fact which means that the
expansion of a new market with an existing line of product which is there. The whole strategy
of market expansion can be done along with the diversification and innovation of product in
the period. The element of expansion of product is being done which is to provide ample
means for the development of a product or renovating a product with the existing market
plan. The development of the product is being followed by the new entry of the product into
the new market. The expansion of Nike, a famous shoe brand should follow the strategy of
Market Penetration as the company is already an existing company in the province of
Australian market and the products which are available in the market are known and popular
among the customer base. The 3X3 matrix plan is to b adhered to the Nike as a company
and also to make sure that the marketing plan is being adhered. The overall market strategy
is to be called upon keeping the company of Nike as well as the overall marketing
techniques is to be made sure to have ample benefits for the company as well as for the
market. The market penetration plan will help the consumers to enter and expand in the
Australian market within the span of time.
Questions –
1. What are the marketing objectives of Nike?
2. What is deciphered by the 3X3 Matrix for marketing the products of Nike?
2.1 Marketing Planning Process
Marketing Plan is defined as the business document that is used to understand and
analyse the different strategies for the market including the ways and tactics involved in a
span of time. The various plans for marketing strategy are being included in the plan relating
to the market. The planning process for marketing is one of the compound process for the
internal communication of the organization.
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The Business Plan –The business plan is one of the foremost aspects of marketing plan
technique in which the mission and vision for a plan is being clarified. The goals of the
business is also being stated in the business plan statement which states the medium and
long term goals for the company. The overall business of the organization depends on the
planning process with the disciplines. Nike has a well-to-do business plan that helps the
organization to survive and also to make sure that the company has the amount of plan for
business.
Executive Summary –The executive summary for the business plan provides the main and
critical factors that is to be provided in the course of time. The final draft of the business plan
is one of the places which has the executive summary.
Propose Statement –The propose statement is a portion of the business plan in which the
intentions of the marketing are stated. The statement is the proposal of the message which
is being presented in the organization and helps the people understand the plan related to
marketing.
Situational Analysis –The situation of a country or a company and even the buyer
determine a lot about the condition under which the company or the place operates. In the
situational analysis of the company the trends, nature, assets and the process of the
organizational position is being assessed which help to analyse the trademarks in the
process of situational analysis. The situational analysis of Nike is being considered here
where the sales have not increased to a major level and needs major analysis of the
situational factors.
Organizational objectives –The organizational objectives are the statements which are
clear and related to the business plan.
Action Plan –The action plan is nothing but the program that is being set by the business for
the implementation of the marketing plan. In the action plan, budget along with the timeline
for the work is being done. The overall analysis of the action plan is done at the planning
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stage in which the action of the individuals is being assessed. The overall operations for the
action plan is to be done in a placid manner which help to decipher the plans for the
marketing tact.
Marketing Plan –Marketing plan is one of the major aspects of the business planning
process in which the needs for the marketing are being identified and also are taken into
consideration. The overall factors influencing the marketing and business ways are being
identified which determine the market value of the factors and process are being analysed.
The overall analysis of the marketing of the company depends on the plan which is
determined by the product.
Segmentation Variable –The segmentation plan of the marketing plan is being done on
geographic, demographic, psychographic and behavioural patters.
Pricing –The pricing of the product is one of the major plans in the business plan that helps
to determine the pricing strategy for the various kinds of products and services in the
concerned span of time. The overall strategy for the target group is to be analysed keeping
in mind the pricing of the same.
Internal data collection –The collection of data is one of the prime factors which needs to
be analysed to have proper characteristics features. The prediction of the marketing data is
being done on the collected internal data which is one of the major events. The internal data
collection is to be done by using various software for the uses.
Projections of income –The income and the buying decision of the consumers are being
projected in a proportional part which means that the as the income increases the buying
power of the part increases in a great way. The projection of income is thereby an important
part of the market analysis.
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Marketing Action Plan –The final document that states the objectives as well as the
operational planning and action is termed as the Marketing Action Plan. The plan makes
sure that the development of the action plan is being done.
Questions –
1. How does a Business Plan created?
2. Does the company follow each of the process which has been described in the marketing
plan?
2.2 Marketing Philosophy
Marketing philosophy is defined as the type of philosophical culture which is there in
the organization which helps to implement strong workforce balance. The importance of
culture in workplace is of prime value which means that with the importance of culture in an
organization, the wholesome analysisof the matter can be achieved. The influence of the
philosophy on the matter is of prime importance which means the organizational culture. The
marketing philosophy for a workplace is to be associated with the production of the place as
a strong organizational culture implies a greater level of production in the span of time. The
overall analysis of the marketing philosophy is to be accounted to the business scene of the
organization which means that the sustainability position of the company is determined by
the marketing philosophy. The essentiality of business lies in the fact that the understanding
of the business scenario is to be accounted to have enough knowledge for the marketing
philosophy tactics of the time.
To gain the competitive advantage in an organization, the marketing philosophy is to
be adhered. The definition of the market along with the process of evaluation is to be
clarified to have the level of contribution in the span of time. The overall analysis of the
concept has been derived from the fact that the theoretical perspective of the market
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analysis has been done. The market needs to be explored to maintain the assumption of the
market and to maintain the operations of the business.
The marketing philosophy also underlines the concept of promotion in the overall
matter which means that the marketing is directed to solve the purpose of satisfying the
needs of the customers. The differentiation and the maintaince of wants and needs are two
of the prime matters in marketing philosophy. The needs can be differentiated into two
matters – terminal and instrumental value.
The marketing philosophy of Nike is to establish the company in the best way
possible in the marketing technique and also to establish the company for the betterments of
the marketing plan for the concerned time.
The overall analysis of the needs and wants can be associated with the marketing
principles and concepts for the need for affiliation and the need for achievement in the realm
of power. The needs of the organization change according to the time and demands of
market.
Questions –
1. What is a marketing philosophy? Which one of them should Nike follow for its market
survival?
2. Does Nike follow the market philosophy fully?
3. Background
3.1 Origin of Nike – Background Information
Nike is one of the famous sports shoe brand of the world which is operating in most
of the countries with its range of sportswear items. Nike which is also known as Blue Ribbon
Sports is an American sportswear company that was originated in the year 1964 on 25th
January. The name of the company was changed to Nike following the name of the Greek
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goddess of Victory, Nike. The founder of the company Bill Bowerman was a track coach
which led him to recognise the needs of the sportsperson and therefore come up with ideas
and products beneficial for them. The company which is involved in the designing,
developing and marketing for the footwear and apparels for the rest of the world is the
largest supplier for the sports shoes on a global basis. The company is also engaged in the
manufacture and selling of the largest sports equipment in the world. The company has a
revenue in total for $24.1 billion in the year 2012 which increased to approximately $34.1
billion in the year 2017. The company whose brand value lies at approximately $30 billion is
surely is one of the biggest brands which has expanded its products all over the world.
Figure – Nike Logo
(Source – Nike.com/au)
The various brands of the company like Nike Pro, Nike+, Jordan, Nike Blazers and
others retail stores which has the name from Nike Town is one of the largest and most
famous companies which has a logo well known by most of the people of the world stating
Just Do It.
The origin of the company, like all other companies began from a small step which
eventually went to become one of the largest in the whole plant. The company initially
worked as a distributor for the Japanese company which is one of the largest shoe maker in
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the country making the profits on the right track. The sports shoe section was built by Nike
which means that the wholesome shoe of the tracks was manufactured by the company. The
company in the year 1964 manufactured and sold the first 1300 pairs of shoes which gave
them the business of $8000. The company went on from being a normal company to a 50%
share acquisition company in the year 1980 which was public in origin. The overall market of
Nike was to attract clients as well as to expand the market through the span of 1980 to
include footwear and different regions throughout.
Figure – Nike sales from 2010-2017
(Source – Statista.com 2018)
The above figure gives an overview of the sales increase of Nike from the year 2010
to the year 2017 in comparison to the rival brands of Adidas and Puma.
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3.2 Original company quest - Nike
One of the major company quest was to build a strong yet salient brand image which
is strong and sporty at the same time. The image building will help to engage the company in
sorting the buyer from the different fields of life and will also help the company to engage
into the world of sporty ideas. The overall quest for the company is to engage the quality of
service into the matters and also to convince the people to buy from them in order to
improve their good will and profit. The overall analysis of the engaging in manufacturing
more sporty shoes is to be made compulsory in the analysis of the company in the straight
analysis. The enhancement of the strategy of the consumer is one of the prime matters in
the quest of the company which help the company to have detailed analysis in the period of
time. The relationship with the customer development is one of the prime requirements in
any of the organization which makes sure that the company has enough of the business in
the span of time. The overall analysis of the company is to make sure that the business of
the company in association with the organizational needs of the period. The overall analysis
of the quest of the company is to be regarded in lieu of the fact that the quest determines the
amount of objectives which is being fulfilled in the due course of time.
The overall quest of the brand Nike is to be done taking into consideration into the
fact that the communication of the people in relation to the overall matter to make the brand
of the image better. The original company quest of Nike is to be analysed to have better
communication skills among the people of the company and to make sure that the overall
analysis of the company is being done in an avid manner. The overall quest of the company
is to better the management and also to have potential profit in the period of time. The quest
or the objective of the company is to analyse the prolonged behaviours of Nike and have
ample evidence of the marketing system of the organization.
The current scenario of Nike is positive although there are a number of problems in
terms of the customer dealing in the brand. The company in terms of the positive aspects
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