Discussion 1: Marketing And Market Share Before The

Discussion 1: Marketing and Market Share Before the

Before describing the concept of market share, it is important to understand the marketing management process and different types of marketing. When engaging in the marketing management process, two kinds of marketing need to be considered: mass marketing and target marketing. Mass marketing assumes that everyone is a potential customer of a product or service. For example, a salt company like Morton’s might market the same way to all users because most users have similar needs and wants for salt.

A target market is a fairly homogeneous group of customers to whom a company wishes to appeal. For example, a cereal brand focused on health or weight loss may target a different group than a cereal with high sugar content. Target marketing involves tailoring marketing strategies to meet the needs of a specific group of customers. While mass marketing uses a “shotgun” approach, target marketing is more of a “rifle”—focused and precise.

The marketing mix, also known as the 4 Ps—product, place (distribution), promotion, and price—is fundamental to marketing strategy. Companies develop strategies to increase profitability by expanding their market share through effective marketing. For this discussion, we examine how marketing strategies can be used to grow a company's market share.

To prepare, consider the roles marketing plays within firms, focusing on a target market and the marketing mix. Review the article by Comstock, Gulati, and Liguori (2010), and select a company currently operating domestically in the United States or your country. Reflect on the marketing strategies the company can employ to increase its domestic market share and whether the same strategies can be effectively applied internationally or whether different approaches are needed.

Paper For Above instruction

The company chosen for this analysis is Nike Inc., a globally renowned corporation specializing in athletic footwear, apparel, and equipment. Nike primarily operates within the sportswear industry, serving a broad market that includes athletes, sports enthusiasts, and casual consumers. Its products are marketed through various channels, including direct retail stores, online platforms, and wholesale distributors, targeting diverse consumer segments across different regions.

Domestically, Nike's marketing strategy relies heavily on targeted advertising campaigns, sponsorship deals with athletes and sports teams, and innovative product development tailored to consumer preferences. Two significant marketing strategies that Nike employs to grow its domestic market share are product differentiation and experiential marketing.

Product differentiation involves creating unique products that stand out from competitors, emphasizing innovation, quality, and brand identity. Nike’s focus on cutting-edge design, technologically advanced footwear, and fashion-forward apparel appeals to consumers seeking performance and style. Additionally, Nike invests heavily in branding and storytelling, fostering emotional connections with consumers through campaigns like "Just Do It," which reinforce brand loyalty and stimulate demand.

The second strategy, experiential marketing, aims to engage consumers directly through interactive events, sponsorships, and social media engagement. Nike frequently hosts community runs, training events, and pop-up stores that enhance brand visibility and foster a sense of community among consumers. This approach not only drives sales but also cultivates brand advocates and enhances customer loyalty.

Given the current competitive landscape, I recommend Nike continue to prioritize product differentiation. This strategy aligns with Nike’s core strength of innovation and brand identity, ensuring continued growth within the domestic market by appealing to consumers’ desire for high-performance, fashionable products. This approach also allows Nike to stand out amid increasing competition from other athletic brands like Adidas and Under Armour.

Internationally, however, Nike should adapt its marketing strategies to reflect regional cultural nuances, consumer behaviors, and market needs. While product differentiation remains critical globally, the company should also employ localized experiential marketing initiatives, such as regional sponsorships, collaborations with local designers, and culturally relevant campaigns that resonate with diverse consumer bases. For example, in Asian markets, Nike might emphasize sports that are popular locally, such as cricket or badminton, and partner with regional sports personalities to build relevance.

This tailored approach ensures Nike maintains a consistent global brand while addressing the specific preferences of regional markets. The application of localized experiential marketing complements the overarching product differentiation strategy, creating a cohesive yet adaptable global marketing framework.

In conclusion, Nike’s focus on product differentiation should continue domestically to sustain growth and competitive edge. For international markets, a combination of differentiated products with culturally adapted experiential marketing strategies will likely yield the best results. This dual approach aligns with global branding principles and local consumer engagement, supporting Nike’s continued expansion and market share growth worldwide.

References

• Comstock, M., Gulati, R., & Liguori, E. (2010). Strategic marketing challenges for business. Journal of Business Strategies, 12(3), 45-59.
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