Nike Marketing Strategy - 7428 Words

Description of marketing strategies applied by Nike Air Force 4.1 Challenges Forcing Nike to Focus More on Marketing Sportswear is defined primarily as apparel and footwear made for sports participation, though is now also includes casual clothes worn by people for daily activities (E. Ko, C. R. Taylor, et al., 2012). The sportswear market is one of the most price-competitive markets throughout the globe. Within the UK, items of sportswear are purchased by almost 90% of people under 35 years of age, and by 76% of the population as a whole (Mintel forecasts, 2006). The international sportswear market is worth nearly 41.5 billion US dollars at the wholesale level, with Nike, Adidas, as well Reebok comprising some 14% of this market†¦show more content†¦Figure 2 Porters Five Forces Analysis of sportswear industry Threat of new entrants (high) There are an increasing number of professional sportswear providers within the market and many fashion retailers are targeting at sportswear market as well. For example, Under Armour, Founded in 1996, has successfully entered the high-performance apparel industry. Bargaining power of suppliers (low) Top brands can switch manufacturing factory from one to another easily to lower production cost as a huge number of suppliers are available within the market. Rivalry (high) Although the industry is dominated by top brands such as Nike, Adidas, the competition within the market is intense as new comers, as well as fashion brands (such as Tommy Hilfiger) are constantly emerging within the market (Robert N. Lussier and David C. Kimball, 2012). Bargaining power of buyers (high) In that huge numbers of providers are available within the market and customers are better informed due to the development of information technology, customers can therefore choose the product with the most competitive price yet good quality. Some brands can constantly attract customers because of the brand loyalty developed over the years. Threat of substitutes (high) Many manufacturers from other industries, such as fashion industry, are trying to enter the market to split market share. For example, Doc Martens,Show MoreRelatedThe Marketing Strategy Of Nike2833 Words   |  12 PagesGrowth strategies are used by businesses to enhance their sales and produce various products that are aimed at their target market as well as building and improving each time to consume maximum profit. One of the strategies includes market penetration; this is when a business sells the same products to an existing market. This means that whatever the products the company are selling to a particular market are being sold effectively, this usually exists of basic products the company have producedRead MoreNike Marketing Strategy5981 Words   |  24 PagesJessica Halsey and Shereen Hijazi | Nike, Inc. | Marketing Plan Project | Nova Southeastern University H. Wayne Huizenga School of Business amp; Entrepreneurship    Assignment for Course: | MKTP 5005 – Introductory Marketing   Ã‚   | Submitted to: | Gregory F Stiber | Submitted by: | Brizaida Ribalta, Jessica Halsey, Shereen Hijazi. | | | | | | | | | Date of Submission: August 30th, 2012 Title of Assignment: Term Project – Marketing Plan CERTIFICATION OF AUTHORSHIP:Read MoreThe Marketing Strategy Of Nike1428 Words   |  6 Pagesare very well polished in Nike. The owners know the correct trigger points of every class of consumer, and thus, the motivating push is given to the exact point. 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The marketing strategy of Nike, Inc. lies on its world imageRead MoreNike Marketing Strategy in India2431 Words   |  10 PagesWrexham, UK 15th November, 2012 To, The Marketing Director Nike, UK Subject: A study of changes in the Sportswear market in India in the past decade with focus on footwear sector. Analysis and suggestion about the marketing techniques that need to be implemented for the launch of a new product. The study also includes formulating a Pricing strategy and various promotional measures to be opted by Nike. In today s competitive market, companies always try to introduce differentRead MoreNike Golf Marketing Strategies Essay1108 Words   |  5 PagesExecutive Summary NIKE, Inc. designs, develops, and markets footwear, apparel, equipment, and accessory products for men, women, and children worldwide. This marketing plan focuses on NIKE Golf and our market segments and the strategies we are using to gain more Hispanic customers and create consistent revenue growth in this area. Our specific focus on marketing NIKE Golf to the Hispanic community comes from the fast-growing buying power of Hispanics. Our marketing plan will meet those growing demandsRead MoreMarketing Strategy Of Nike s Success895 Words   |  4 PagesNike is one of the most recognizable brands in the world. It is not only renown for its high quality athletic apparel but it is also known as one of the best manufacturers and designers for sporty fashion for both the gym and the streets. Nike is among the sole companies that took note that, â€Å"Americans are wearing yoga pants, running gear and basketball shoes not just to-and-from the gym, but also around town.† (Fortune). A ctive wear is suddenly chic. They noticed that Americans find that athletic