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. Marketing mix is still in use till today as it aids to …show more content…
Nike began to sell sports apparel, athletic sports bags and extra accessories since 1979. Also, their brand Cole Haan transmits a whole clothing-line of casual dress and footwear as well as the latest and accessories for men, women and children. Correspondingly, they market head gear under the brand name ‘Sports Specialties’, for motorbikes and bicycles through ‘NikeTeam manufactures’. Furthermore, they distribute ice skates, roller blades, safety gear, and jerseys. Consequently, Nike’s pricing is intended to be economical and competitive to the other sport gear retailers. The pricing is built upon many factors that have been taken into consideration before setting a selling price on the root of the high-class segment as target customers. Nike as a brand orders high premiums. Nike’s pricing strategy makes use of perpendicular amalgamation in pricing in which they target participants with different channel levels or take part in more than one type of channel level operations. This can govern costs and effect product …show more content…
Probable factors that could affect Nike’s business judgements are a range of demographic, social, economic and political. A few have already started to transpire, though others are purely likelihoods. External factors affecting this mix is one of the most common, technology. Before Nike releases its brand new product line to the market, it’s always prepared to authorize that whether or not there has been any sort of major advances from the other competitors that would tracker its launch. Thus they must time this carefully, as other competition may demand to shadow its release with their marketing
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“ Nike brand president Trevor Edwards said on yesterday's 2017 Q3 earnings call that the 2016 "Space Jam" Air Jordan XI release "was the largest and most successful shoe launch in the history of Nike. "(Christian 1). In 2016 the Jordan 11 “ Space Jam” was Nike’s highest grossing shoe is Nike’s history as a company the shoes retailed for $220 and sold out in hours. The evidence given proves how Jordan’s marketing strategy of limiting the shoes to certain stores and in certain quantities has show it is a working model and thrives for the company. Throughout the years different marketing campaigns for different companies have worked but Jordan's repetitive marketing campaigns have shown successes through the
They want people to , when looking for sporting gears, see the brand of nike and instantly know that is quality and reliable products on the shelf. They used ethos ,pathos, and logos to boost their campaign in establish well known sporting product on worldwide platform. This is the way how nike has become so successful in its category. Nike is setting standards that other companies are following in sporting
This groundbreaking move took the industry by storm and highlighted the company’s staunch belief that transparency and collaboration would be the pillars of progress. This disclosure was referred to as Nike’s manufacturing map. (Nike, Inc., FY2010-11, Sustainable Business Performance Summary). 2008 Nike’s considered product line gained worldwide attention in 2008 when 3 products made using recycled material were showcased during the Beijing Olympics: the Precool Vest, Swift running and rowing apparel and medal stand shoes.
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 .
Nike: Global Ambassador or Material Monolith? While Nike sneakers may appear to be a stylish, functional brand of shoes, their function within the context of globalization and the global market is far-reaching. One pair of Nike shoes can feed a family of factory workers, represent the personal style brand of some of the world’s most popular entrepreneurs, or get a child killed in a poor neighborhood. The way these shoes travel provides millions of jobs and connects people from around the world in a looping supply chain. Yet, the shoes – the brand – starts to take on a mind of its own as the image shifts, and the consumer mindset changes.
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.
Over the years, Nike has been able to build a better relationship with their overseas factories and contractors. They were able to build up a Corporate Responsibility Board to guarantee the regulation of policies and laboring laws. In addition, Nike has improved its labors to be more ethical and to keep their business and work ethics proficient. Their main goal was to improve their affiliation with their consumers and to make them value their products one again and this has been done over the past few
With this strategy Nike has gained the market share. Over the years Nike has gained billion of dollars in revenues, which led him to the state of the largest footwear shoes in the world. However, this success has a cost. The number of criticisms towards Nike is increasing gradually. This situation led some analysts question on the way Nike sees Globalization.
With the increasing interest in brand value, which is something which is something that is intangible to the product, trade mark law shifted (Arvidsson, 2006:188-189). The trademark law has shifted to confusing the consumers of the Nike products, showing that there is a
The strength of high price product strategy is that Nike can earn more on each single item. Also, it can ensure the quality of the products. The low-priced products policy could widen the customer group and attract more buyers to boost the sales. The weakness of selling premium is that only high-end buyers could afford to buy it.
Nike is the leading and renowned world supplier of athletic apparel and shoes. The brand is in control of over 47% of the market for athletic shoes. The company begun way back in 1962 and it was founded by Phil Knight and Bill Bower. It was originally known as Blue Ribbon Support and only in 1978 did it change its name to the worldwide recognized brand, Nike. Nike provides its products to more than 100 countries throughout the world.
This is due to Nike gets its merchandise generally from foreign manufacturers. To operate profitably, Nike need to get good value on products and supplies and, in turn, offer good value to its customers with accessible solutions. Publics: Many colleges and universities, especially anti-globalization groups as well as several anti-sweatshop groups