Hypervenom Marketing Strategy

Marketing Mix for HyperVenom

Product:

This product is developed by taking key valuable inputs from football stars and extensive ergonomic studies in its research labs. Nike has followed a product concept pertaining to HyperVenom where it stressed on providing consumers with performance, style and innovative features like mesh fabric. Its outer body is made of the new innovative NIKESKIN it is augmented by All Conditions Control technology (ACC) to provide the same level of foot-to-ball control in both wet and dry conditions. Nike worked with some of the world’s top podiatrists (physicians specializing in foot problems).

In addition to this there is a provision for customization of their shoe range online. It provides for warranty for a year for all their products and provides for replacement in case of any manufacturing defect.

Price:

Most of the major product lines cater to the high-end consumer market with high disposable incomes and very specific needs. Thus their pricing strategy has always been to provide value at relatively higher cost leading for the company to gain maximum profitability. HyperVenom is also priced higher than its peer competitor product of Adidas Predator.

Place:

(i) It kicked off its campaign by creating social media buzz through its brand ambassador strikers. Players were asked to tweet hinting about the countdown to launch. #HyperVenom. (ii) At the time of the launch synchronized marketing events were launched across the world with respect local stars. (Brazil – Neymar, England – Rooney, Zlatan – Sweden). (iii) Once the buzz settled, functional print media depicting the design sketches were released.

Growth Phase

Currently the product is in its growth phase. Ever since its introduction, there has been a tremendous response with quarterly sales increasing up to 5-10%. Though the sales are rising Nike constantly introduces variants (Phantom, Phelon, Phade- Line Stretching) offering wide customization options. The Phade model which is relatively low priced compared to other variants is an example of Downward Stretching, where Nike was facing competition from Puma and Adidas counter

Though the sample size may not be representative of the population, but it is quite intuitive and in line with global reports. Among the respondents, it is not surprising to see that around 70-80% of the people buy shoes and remaining go for other apparel. This is because there are good quality domestic substitutes available for apparel which are cheaper. So consumers prefer them. However, coming to the shoes (running/sport) there aren’t any domestic manufactures which can rival the quality of these global brands. Nike commands a premium price even among these global brands. So only people with strong brand association and very specific needs go for these high end products. However, there is a good market for other Nike products which are relatively