Nike wanted to remove complacency from the company altogether and create a culture of continual positive change, management. They also encouraged employees to become more innovative and welcome their opinions and ideas more, creating a friendlier atmosphere within the company. CONCLUSION: With these changes, Nike is showing the world that it’s not done innovating and the company 's certainly not afraid to make the changes they deem necessary to continue being the best. The company leadership shares a dedication to excellence and constant improvement. The changes reflect Nike 's focus on the consumer by accelerating innovation, emphasizing design, creating product & merchandising excellence, and focusing significantly on efficient supply chain and manufacturing capabilities.
• It has chosen to focus more on the production of ‘cool stuff’’. To further enhance its marketing attempts, Nike has chosen to go digital. It has chosen to invest more in the use of digital marketing techniques and this can be clearly seen from what is given below. • For the first time since it was founded, Nike is not fully relying on a number of superstars to move its products. • After it finished perfecting its branding act, Nike chose to move onto a world in which its customers want to hear less talk and see more action.
You act quicker and build products or services faster than your competitors. If you want to significantly improve your success ratio in business, learn to become more responsive in every aspect of brand development. Supportive Leaders who try to be more supportive grow strong teams who are dedicated to company success. Your employees are more likely to take on extra tasks and will turn to you for feedback when they know they can trust your input. Not only will you build a business with a welcoming company culture, you'll reduce your employee turnover rate too.
Abstract The sole purpose of corporations is to amass profits for shareholders and in doing that, there should be innovative elements in such corporations. However, to gain market share and maintain profits above competitors, the consideration should focus on balancing company’s performance and meeting ethical standards in a globalized world. This will determine both the success of the company and the criticism that might be harmful to its brand. In this paper, Nike Inc., a very successful company, strategically and innovatively expanded its business operations across the globe with huge profits to compensate its hard work, but not without a price. Huge criticisms of human rights violations occurred in many of its factories in developing countries because the company’s suppliers and contractors used children as laborers.
4.0 MARKETING STRATEGIES TO CREATE A CONDUCIVE SITUATION FOR CONSUMERS TO BUY Marketing strategies are generally concerned with 4 Ps; product, pricing, promotional and placement strategies. The focus of these strategies are the objectives to be achieved, meant to ultimately meet the business overall goal of revenue growth. The key to successful marketing is differentiation strategy. If consumers do not perceive Nike as being different from those in the competition, Nike will not win the marketing war. The battle for consumer minds is a battle of perceptions not the products, thus, it is important for Nike to constantly engage with a differentiation strategy and tactical activities to stay ahead as the leader in global sportswear and apparel market.
Cons: •The energy industry they are into is very volatile industry with fluctuating prices. Staying into the same industry would have caused them become more vulnerable to the economic changes associated with this industry. • Alternative 3: Organisation culture Enron being performance driven company always motivated employees to innovate and deliver value to the organisation. This sometimes created a pressure on to the employees to perform in any circumstances and hence motivated them to adopt to unethical practices. Thus there is a requirement of a mechanism to first stop these practices from taking place and even if it happens there should be a set of measure in place to check.
This is stated by the firm’s performance as well as the differentiation in the cost of their products. In the market, a company’s position is determined by its profits in the industry. IKEA is following the following: Cost Leadership Advantage – being a budget brand means to beat the rest of the market in terms of price by being the lowest but this can be compensated a little on a slightly higher side by producing good quality products. Differentiation – being unique in the market or to stand out among other products is one of the most challenging tasks for any business especially in a market or industry of a large scale. Innovative ideas and designs had made IKEA stand out among the rest of the producers.
The current marketing situation for Nike has four major components such as political, economic, socio-cultural and technological factors also known as the “PEST” analysis. The political/legal factors are very important for the survival of a company in any market due to how much a company can produce and how much profit they can make. With Nike based out of the United States, the policies are in their favor. The country helps regulate low-interest rates and arranged international tax agreements thus resulting in less money spent by Nike to sell and produce their products. The political factors affect the organization in today’s standings and in the potential
These practices can be anything from not telling the customers that their information is being recorded to selling unnecessary research. Now let’s find out who are the key stakeholders in marketing research and how are they affected. Key stakeholders include: 1. Public: They are faced by two primary concerns which can hurt their rights. These are: • Privacy Issues: Misuse of privacy appears to be one of the most serious concerns in marketing research.
As a result, it is very important to arrange enough money in order to set up own procedure. Negative impact on exchange rate Negative impact on exchange rate of developing nation as FDI can at times influence trade rates for the advantage of one nation over another. Negative effect on interest in the nation, the standards representing trade rates and direct venture could negatively affect investing nation. The speculation might be precluded in some remote markets, which implies that it is difficult to complete alluring prospects (Keller, 2010). Exploitation of