Nike Marketing Research - 2366 Words

Marketing Case Study: The Marketing Mix of Nike, Inc. BADM 370 15 April 2013 Executive Summary Nike, Inc.’s debut in the 1970’s was a milestone for the athletic industry. Starting with a simple of objective of selling affordable, quality athletic footwear, Nike has undergone an incredible transformation over the years into a dominating sporting goods company due to an efficient marketing mix. Today, Nike has reached annual sales exceeding over $20 billion, and has developed its business all over the world. In this study, these four marketing components will be reviewed: Target Market Product Price Placement Promotion Nike’s product variation,†¦show more content†¦Nike’s main competitors, Adidas and Reebok, each produce a similar product mix to Nike’s, and in order to keep a competitive edge, these companies attempt to optimize its current products and showcase new innovative products. The Summer Olympics, the biggest sporting event series in the world held every four years, presents Nike and other sporting good companies with a huge opportunity to showcase new products and fuel the competition in their industry through sponsorships of teams and individual athletes. By the next Summer Olympics in 2016, sporting companies will have another chance to show off their brand, enhancing the competitive rivalry between each other. Another competitive issue that inhibits Nike’s product distribution is the large amount of substitutes in the sporting goods industry. Consumers have a wide selection of footwear, apparel, and sporting gear retailers to choose from, which req uires sporting goods companies to enhance their marketing strategy to sell their products in order to survive in the industry. On the contrary, there are some economic factors that may benefit Nike’s marketing of product in the next few years. Since 2008 recession, real personal consumption expenditures have increased, indicating that consumers are willing to spend more of their money on certain items (Appendix B). This may be an opportunity for Nike to intensify marketing to consumers in order to increase sales at time where there is an increasingShow MoreRelatedNike : Social Media And Trend Oriented879 Words   |  4 Pages Once Bold is released in stores and online, Nike will continue promoting Bold through social media, specifically by working with social media influentials. Nike will contact up to 10 influential lifestyle/fitness bloggers to propose their products to over the 12 month period. Through compensated endorsements, bloggers will review Bold’s products through their own accounts. Our target market is most likely to react to reviews made by bloggers as they are more likely to trust those who have similarRead MoreNew Product: Nike Fitness1525 Words   |  6 Pagesproduct: Nike Fitness As more people become more health conscious, expanding to include fitness centers in their campaigns would be a great step for Nike, especially to compete with a fitness-focused company like Reebok. As the number one sport supplier and their relationship with their sponsored athletes, future consumers would definitely try their new products. They currently have the Nike Run Club and the Nike Training Club that both are free at select NIKE Stores in the United States. Nike Run ClubRead MoreAssignment For Unit 10 Market Research 1119 Words   |  5 Pagesï » ¿ Course BTEC Level 3, 90 Credit Diploma in Business Unit / Module / F Skill 10 LEVEL 3 Assignment Title Market Research in Business Lecturer/Assessor Terence Bowrage Issue date 25/03/2014 Submission date 23/04/2014 Student declaration I declare that this assignment is all my own work and the sources of information and material I have used (including the internet) have been fully identified and properly acknowledged as required. I understand that plagiarism of any kind will not be toleratedRead MoreReport on the Case Study Nike Essay1485 Words   |  6 PagesCase Study Nike This report has been produced to provide an insight into the consumer decision-making process, buyer behaviour factors that consumers of Nike are influenced by. The report also details recommendations based on the findings. 2.0 Summary =========== The report is about Nike, regarding the case study. The report elaborates on the aspects including buyer behaviour, brand image, consumer decision making, and marketing research techniquesRead MoreCelebrity Endorsement Marketing Campaigns1497 Words   |  6 PagesCelebrity Endorsement Marketing Campaigns Celebrity endorsement is a billion dollar industries today (Kambitsis et al., 2002) with companies signing deals with celebrities hoping that they can help them stand out from the clutter and give them a unique and relevant position in the mind of the consumer. According to Solomon (2002), the reasons for using celebrity endorsement involves its potential to create awareness, positive feelings towards their advertising and brand. Research has shown that celebrityRead MoreThe Effect of Positive and Negative Word-of-Mouth on Consumers’ Brand Evaluations1237 Words   |  5 Pagesfrom the marketplace and most product feedback is positive. In a study conducted by (East amp; Hammond amp; Wright 2007) results showed that 4/5 of WOM was positive whilst 1/5 of information was negative, correlating to the results of previous research. Their method was to survey of a sample of the general public asking them how many times they had recommended, and advised again X in the last six month s, where X was a dentist, bank, credit card provider etc. The results suggest that satisfiedRead MoreNike : Just Do It1385 Words   |  6 PagesNike: Just Do It. McDonald’s: I’m Lovin’ It. Nowadays, everything we buy has a message behind it. Advertisements are filled with motivational, emotional, and spiritual messages that provoke and inspire. In a world where advertisements are as abundant as flies and just as annoying, marketers must find a way to rekindle consumers’ interest in products. Marketers need to find a way to not just coexist with culture, but to become it. In order to become a part of culture, marketers must make advertisementsRead MoreThree Characteristics Of Good Marketing Research835 Words   |  4 Pagessportswear consists of Nike, Under Armour and Foot Locker. These companies have realized that there is a â€Å"growing demand for active wear, the sporty fashion for both the gym and the streets, has lifted sales for makers of the clothing and the retailers that sell it, as mentioned in Fortune 500.† This will be a difficult course direction with so many companies in the marketplace. Market Research Strategies The text discusses seven characteristics of good marketing research, those being scientificRead MoreVirgin Galactic Space Tourism Marketing Plan4526 Words   |  19 Pagesthe future. In this report, as a marketing advisor to VG, I will disscuss about the following topics:†¢Developing a marketing communications plan for VG†¢How can VG become truly customer focused†¢The importance of minimising cognitive dissonance in the minds of target customers†¢SWOT analysisSection 1 - MarketingCommunications PlanI.IntroductionIn many years, space activities have been considered to be developed and managed by the government for the purpose of research or military only. Nowadays, spaceRead MoreAlly Bank Essays1856 Words   |  8 PagesSubmitted to the Direct/Interactive Marketing Research Summit Proceedings August 31, 2012 Andrew J. Rohm Associate Professor, Marketing Department, College of Business Administration, Loyola Marymount University, Los Angeles, CA, arohm1@lmu.edu George R. Milne Professor, Marketing Department, Isenberg School of Management, University of Massachusetts Amherst, Amherst, MA, milne@isenberg.umass.edu Velitchka Kaltcheva Associate Professor, Marketing Department, College of Business Administration