Value Proposition Of Nike
Introduction
This report focuses on revisiting basic marketing concepts studied in an introductory marketing course. The product HyperVenom is the reference frame to understand and relate what is taught. Why HyperVenom? Launched in 2013, it is an ideal focal point of our report as there is no existing structured marketing literature (freely available) about it. So it gives a fresh and uncontaminated perspective. For this sole purpose, redundant information (or tweaking the existing literature), topics which are readily available and have been exhaustively researched about NIKE are excluded. Most of the marketing books use a lot of visual aid to explain the concepts. Following the same line of thought this report is a trade-off between a plain
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The benefit as perceived from the consumer’s point of view must exceed the cost incurred to make it sustainable over a period of time. Nike since its inception believed in “pyramid of influence” where preferences of small percentage of top athletes influence the choices of the rest. HyperVenom’s value proposition has been on the innovative design (NIKESKIN system, ACC - All conditions control system) i.e., on the product quality. It is a common feature with many of the Nike’s product features are heavily marketed at the launch/introduction phase of the product.
Value Delivery
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Its innovative designs, quality and service at the core are the source for its premium price command. Its ad campaigns fall under many positioning categories.
Product Attributes: These design sketches have been extensively marketed.
User/Individual Attribute:
Levels of Product In order to achieve competitive distinctiveness, Nike focuses on augmented products. For production companies it is important to delivery and continuously improve on products from “Core to Augmented” (Upward Trend –ref Kotler), only then there is a scope for creating Potential Products.
Nike Product Mix From User’s Perspective
With frequent releases of variants (approx: 18000 variants across all the categories.) This is the best suited form of product mix classification. The organizational structure is also divided in similar lines. However more appropriate product mix classification is also possible, but that leads to unnecessary complications where we need to consider SBU’s and revenue generation models. PRODUCT MIX Width of the Product
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