To put this marketing plan into motion, Caja Rolu needs to utilize the marketing resources available. One of these resources would be the SWOT analysis. Knowing the strengths, weaknesses, opportunities, and threats to the company is important because it allows for growth of the product line. Another important resource that Caja Rolu will utilize is evaluations of the target market and demographics of different areas. The evaluation of the target market is important in implementing the marketing strategy because it allows us to know our audience and cater to them specifically and make sure their needs are met through the use of our product.
International marketing strategy is a combination of marketing principle that could be used to formulate a marketing strategy for specific products and services within one or more countries to extend or internationalise the company. The research paper is based on the international marketing strategy of Nike Inc. (a Sports Apparel retail company working internationally) to help the management of the company shortlist and identify potential market for them to expand their business. It utilised macro and micro analysis of the sports retail market to identify the potentials of the industry that would help them to increase their business performance in the international marketplace. Macro Factors PESTLE It is noted that PESTLE is one of the most important and effective that often used by organisations in order to assess different macro factors that influence their activities in a negative manner (Li, et al., 2014). However, the PESTLE factors entails political, economic, social, technological, legal and environmental that are elaborated below: Political Political factor is an imperative factor that organisation considered at the time of expanding their business operations by assessing the political environment of the target market (Li, et al., 2014).
The marketing segments, target market, and four “P’s”, can clearly make a huge difference in how a product is perceived by consumers, and just as two similar products can be marketed completely differently, two different products can be marketed very similarly. Nike tennis shoes and Oakley sunglasses are two products that have very similar marketing strategies, and it all starts with the market segments and the target market. Both Nike and Oakley use psychographic, demographic, and behavioral segmentation. Nike and Oakley focus their marketing on both genders who have active lifestyles, have a generous and stable income and are interested in sports. In addition, they both target athletes.
The focus on how their product creates feeling within a consumer’s mind. Self-worth, loyalty, quality all must go through a consumer’s mind when buying the soccer products. They build their brand name by customer loyalty and increase sales to make a competitive market to be niche within Europe. The behavioristic is to regain a consumer by loyalty and how the quality exceeds standards. Companies like Nike know that innovation is needed to make progress on their weightless Mercurial technology.
The brand value of Nike can be seen through intangible properties such as brand name awareness, brand loyalty, perceived brand quality and a favorable brand symbolism such as the swoosh, which creates a competitive advantage and future earnings platform ( Kerin & Sethuraman, 1998:1).As the brand Nike outsources the production of the brand value to their consumers , it becomes difficult to legitimize their exclusive rights to derive value from the commodity (Arvidsson, 2006:188-189). 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
Advertising is the number one factor when communicating to customers informing them about the brands available and the variety of products offered to them (MSG.com). Although the company AllStar leads the market in OTC cold and allergy, better advertisements can help the company to gain an even greater percentage of its market segment. Focusing on advertisement, the MMT will also work with the companies direct and indirect sales force to ensure that the brand gets eye-catching placement on
1. Premium Brand of the firm. Products of Lululemon Athletica Incorporation (LULU)[1,2] are oriented on educated men and women, which are health-oriented and have the high income. The company’s yoga pants and other products, lead in the sportswear industry. Despite high price for many of these goods, the brand popularity stable increases.
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.
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. They’re committed to increasing the purchase of sustainable products.
With Nike, innovation is linked to inspiration and convincing everyone that if they have a body they are an athlete. While, Under Armour’s innovation is linked more with science research and trying to develop the most high-tech products possible. Under Armour is focusing on direct-to-consumer categories: online sales and outlet and specialty stores, which are expected to represent nearly a third of Under Armour's distribution channels, and in international markets, with new store openings in