For example, the company now offers running shoes, tennis shoes, and shoes for a variety of other sports, including cricket.
Nike exclusive stores are very common in almost every city and suburb in the country catering to the requirements of consumers of specific geography. For example, customers can purchase a Happy Meal or an Extra Value Meal to optimize cost and product value.
Nike offers a wide range of products including shoes, apparel and equipment. Nike is a market leader in the sportswear and sports equipment and employs value based pricing strategy to facilitate growth in sales and profits of the company.
However, the business gradually expands its product mix. The company depends on the effective promotion of its products to maintain a strong brand image, which is one of the strengths determined in the SWOT analysis of Nike Inc. Bulk discounts, timely discounts through online and offline stores attract millions of consumers every day and catches mass attention at a bigger sale.
The corporation uses TV, radio, print media and online media for its advertisements. Through this, the costing is not pretentious too much in propose to accommodate a lot of consumers.
Among the 4Ps, this variable focuses on marketing communications with target customers.
In America Nike has more thanretailers and has its presence in more than countries in the world. For example, these products are available at major retail stores. This covers the place strategy in Nike marketing mix.
Found inNike is an American conglomerate has its presence in engaged in manufacturing, design, development, and worldwide marketing and sales of apparel, footwear, equipment, accessories and services.
By this Nike gets to showcase its almost every product reaching out to millions of users over the internet. Another significant thing that business must consider if you want to follow the success of the company is that, the truth that Company utilizes the vertical combination pricing technique in that they take participants ownerships at channel levels which differ and the Nike company also engage in diverse channel level functions in a propose to control prices as a result affect pricing function.
Some kiosks are temporary, as in the cases of kiosks used in professional sports competitions and other seasonal events. Nike Company distributes its items base on the level or number.
Occasionally, the company uses direct marketing, such as for corporate clientele, local governments, or community events and parties. Nike uses E commerce websites like flipkart, amazon for sale of its products.
This strategy has largely benefited the company continuously raising its profits over last 5 years. Based on this element of the marketing mix, Nike expands its product mix to address the needs of its target markets and market segments.
The Marketing Mix section covers 4Ps and 7Ps of more than brands in 2 categories. Such evolution is a critical success factor that enables the business to use its marketing mix to respond to market trends and changes that influence local, regional, and international market demand for its products.
It has psychological effect to the viewers and this is reinforced with promotional which affirm this point. In diversifying its product lines, the company satisfies market demand, improves its revenues, and spreads risk in its business. At last, Nike targets the users who are possible to build up product intimacy, consumers who are after the quality and utility of the items than the cost.
Nike also offers products for aquatic activities, tennis, skateboarding, golf, association football, baseball, football, cycling, volleyball, wrestling etc. The company uses promotional tactics to communicate with target customers about its products, and persuade these consumers to purchase the products.
Nike also sells apparel, such as jerseys, shorts, and related products. It employs great media coverage through electronic, social and print media promoting about its brand image making smart use of push as well as pull strategy for its consumers.Place in the Marketing mix of Nike.
Nike shoes are carried by multi-brand stores and the exclusive Nike stores across the globe. Nike sells its product to about 20, retail accounts in the U.S. and in almost countries around the world.
The marketing strategy of Nike embraced by many organizations can either provide them a market frame or make them insulate the market frontrunner. The more reliable the distribution of the product is improves the sales and in consequence more profits. Nike’s marketing mix (4Ps) covers key strategies and tactics the company uses to maintain its leading position in the global market.
Nike Inc. relies on its marketing mix to maximize its profits and growth. Nike’s brand images, the Nike name and the trademark swoosh, make it one of the most recognizable brands in the world. Place: Nike shoes are carried by multi-brand stores and the exclusive Nike stores across the globe.
Pricing in the marketing mix of Adidas Adidas, because of its style, design and promotions uses skimming prices as well as competitive pricing.
For run of the mill products, Adidas uses competitive pricing keeping in mind competitors like Nike, Reebok and Puma.
Nike Case Analysis The Positioning statement of Nike is “For serious athletes, Nike gives confidence that provides the perfect shoe for every sport”.
In today’s competitive environment, Nike, one of the global leaders in sporting goods industry, has established a strong position for enhancing athletic life style.Download