The objectives for the development of the Nike energy bars are: • To gain a foothold of 10% market share in the first year of sales. • To achieve a high rate of retention (at least 45%) of customers who trial the new energy bars. • Launch splashy new advertising campaigns in major metropolitan areas in the United States, as well as television ad campaigns within the budget of $5 million for promotion and marketing. • Create consumer rapport and initiate trials amongst consumers in the industry who already have built loyalty to the products of competing brands. 2.1.2 MARKETING OBJECTIVES Nike, Inc., through past analysis of its own strengths and weaknesses, evaluation of the market, and its own goals and objectives, has developed criteria to …show more content…
• The protection and enhancement of brand cachet for Nike, Inc. in the new industry space is of paramount importance, not least to maintain its ability to maintain a perception of exceptional quality and the attendant ability to charge a premium price for its products across a range of industries and product categories. 2.1.3 CURRENT MARKETING PLAN This marketing plan corresponds to the launch of a new product category within the company. As such, there is not incumbent or current marketing plan. 2.1.4 COMPANY RESOURCES The resources of Nike, Inc. include human resources as well as financial resources in the form of both cash and capital, and facility resources. The current status of Nike, Inc. resources is comprises of what follows. Human Resources. Nike Inc. has a very large staff in its corporate offices in Beaverton, Oregon, USA. The company also has staff that it uses on a contract basis, including marketing firms working on its various product and campaign accounts. The company has agents who optimize supply chains for products, including the new energy bars. The company also has sales people and buyers who make materials/ingredients choices for the products and initiate manufacturing runs to complete supply chains for final products sold to consumers under the Nike …show more content…
is a well-known international conglomerate, it is attempting to enter a market in which its products and efforts are still obscure. People are generally not aware of Nike’s push into this market segment, and of its intended differentiators with regard to its energy bars offering. 2.2.1 PRODUCT MARKET The product market for this marketing plan consists of a variety of elements described below: • Product/Service Type: Products offered are described in the section under “Product” • Customer Needs: Customers require a nutritional and energy-inducing, flavorful or at least tolerable-tasting food bar product that delivers on the promises made on the packaging and in marketing materials. Customers need to be energized, especially during athletic performance, and be given adequate or exceptional nutrition. • Customer Type: Athletes, young professionals, office workers, teenagers, and others are the primary customer types for the energy bars, but Nike Inc., is seeking to draw in as many demographics as possible. • Geographic Area: All customers within the contiguous United States that are reachable on a cost-effective basis given current distribution network and relationships. 2.2.2 DEMOGRAPHIC DATA OF TARGET
Nike draws in peoples’ attention and gets viewers to agree with them and buy their product with the help of these three factors. Nike is a very successful company because of how they draw in their audience and display their commercials using ethos, pathos, and logos. The company Nike just celebrated their 25th “Just Do It” anniversary. The commercial is filled with
Introduction Critiquing this ad on how it attracts customer to buy their product. I will talk about what is motivating or attracting the customer. Sometimes it’s the meaning behind the ad or how the product is represented. Nikes is using one of the most popular strategies that are successful in promoting its product and increasing income. When I first saw this ad I immediately knew they were comparing the iron man suit to the shoes showed in the ad.
2-human resources management: -Minimize the costs associated with high employee turnover. -Improve retention of skills, knowledge, motivation and moral, which in time impact productivity. -Give employees job security and money in their pockets and give employees opportunities to learn new skills and gain more knowledge. -Nike salary and compensation include information about base salary, signing and year –end bonuses, stock option, vacation time and other special perks and reimbursement that make up total compensation at nike. 3-Technology development: Nike has a history of developing innovative and new impact protection systems.
Nike has sustained positive revenue in a worldwide market focusing on a healthy and active lifestyle. For the past 3 years Nike has gained a gross profit ratio of 8.73% in fiscal of 2013, 10.28% in fiscal of 2012, and 8.28% in 2011 . Thus showing the financial power Nike has, well the firm holds a net income of 2.5 billion in the fiscal year of 2013. Nike’s largest product category is footwear, representing over 55% of the companies revenue. Nike uses their financial resources ability to obtain large advertising plots, whether it is a commercial on television, advertisements on the Internet, or product promotion in athletic facilities.
Company Description Nike believes diversity and inclusion drives innovation that lead to a competitive advantage. Nike has a broad base of suppliers that actively and significantly support their business requirements. Nike’s Global Procurement team manages the procurement process, including selecting and contracting with the right suppliers for the right goods and services. They have also begun to reduce Nike 's footprint and lessen their impact.
Nike has managed to shift their Manufacturing unit into Asian country’s were the labor is cheap to be exact wages of USD1 an hour were so little as one-tenth of those given in the US. No wonder that a pair of shoes which were sold for $150 in 1991 is made by indoasian women who were 58 cents a day but the situation has started to change and due to that reason the company has managed to minimize cost of production and not only double triple the the revenue as comparing to the year 1996. Finally we come up with promotion and advertising campaigns which became a grand success not only because they introduced sportspersons , they also introduced innovative ideas and wise strategies and the image of the Product, due to this process we can say that Nike targeted a huge no of audience and created a Prestigious brand which will be easily available for average people . they also came up with great tag lines such as ‘there is no finish life’ , and in the 1980 they changed it into “ JUST DO IT “ these quotes of tag lines are considerd very simple but very attracting and extremely encouraging for the customers .
Therefore, the social classes of their target customers are middle class, upper middles, and lower uppers. They could afford buying Nike’s products .The lifestyles of them are achievers and strivers. Their target is people whose personality is outgoing and sporty.
There is often a tendency to focus Technological developments on digital and internet-related areas, but it should also include materials development and new methods of manufacture, distribution and logistics. With technology improving Nike has to keep up to date as the world develops more and more with its technology. Nike has been able to maintain its name in the market place with the use of social media to increase their brand awareness. By using social media it has been easier for Nike to promote the products that they have and making the public more aware of these products. There has been a growth in the market for online shopping and promoting their products online using media and apps.
Starbucks’ target audience is not gender-specific as it included both males and females. The age bracket for adults are between the ages of 25-40 years, and children aged 2 years and above. The adults in the target audience are married, and with children. From a social class viewpoint, affluent families are prioritized, focusing on households with middle to high income. Additionally, these are adults that have graduated tertiary education and are now urban professionals.
Competitors: PUMA, K-Swiss Inc., LaCrosse Footwear, Inc., Dick 's Sporting Goods, Inc., New Balance Athletic Shoe and Adidas – (Adidas have currently branched out into customization of footwear products. To sustain its competitive advantage over competitors, Nike has to take this to consideration). However, a large number of competitors in an industry usually indicates lots of demand for the products or services provided and this will help Nike to succeed in the long run. Suppliers: Nike outsources almost all of its footwear production to independent third party suppliers. As Nike has a minor control over quality of the products.
• In 2010, it launched a new division that goes by the name Nike Digital Sport. • It has hired a large number of engineers whose job is to develop technology that resonates with digital
However, the prices are higher than other brands. Consumer feels that Nike overchanges its consumers and ought to lessen the cost of their items. Celebrity endorsements additionally engaged the consumer's having a feel of belonging, as Nike turned into a fulfilling toward its image. Product Positioning: Segmentation and Targeting: For “Just Do It” campaign, targeting market was: • Young people, from 20-30 years old, low and middle income and social
Consumer behavior towards Nike products Marketing is collaborating the value of a product, service or brand to customers, as a driving force to promote or sell that product, service or brand. Marketing procedures and skills embrace selecting target markets by carrying out a market analysis and market segmentation, as well as taking into account the consumer behavior and advertising a products value to customers. Marketing is the utmost vital aspect of developing and enlarging your business, and is a speculation that will recompense for itself over and over again. The term “marketing mix,” was first devised by Neil Borden, the president of the AMA (American Marketing Association) in 1953.
A new competitor whose sell the footwear of leisure and fashion . 0.05 2 0.1 Total Score 1 2.25 Justification of Nike key external factors. Opportunities 1st
ABOUT THE SOFT DRINK INDUSTRY: The term "soft drink" refers to all types of nonalcoholic, carbonated, sweetened, flavored beverages. Nonalcoholic soft drink beverage market can be divided into fruit drinks and soft drinks. Soft drinks are available in glass bottles, aluminum cans; PET bottles are disposal containers can be divided into carbonated and non-carbonated drinks. Soft drinks are being manufactured since so long. There are various flavors in soft drinks that are lemon, orange, mango and cola.