Marketing 3311 Marketing Report This Will Give You The
Marketing 3311 Marketing Reportthis Report Will Give You The Opport
This report will give you the opportunity to evaluate the marketing concepts employed by an existing company, business unit, or product/brand. Each person will select their own company to research and analyze based on the marketing principles presented in this course.
Each person/group needs to do enough research to find enough secondary data and information to assess the marketing strategy for the company, product, or brand they have selected.
Section 1: Company background and Competition
1. Company and/or product brand overview: Identify the name of the company, the type of industry they are in, and the names of their primary products.
2. Mission Statement: Identify the company's mission statement and explain its meaning.
3. Marketing Objectives: The marketing objectives are a statement of what the company is trying to accomplish through marketing activities. These may be explicit or implicit.
4. Target Market Strategy: Identify and describe the market segments the company is targeting—these may also be explicit or implicit.
5. Competition: Find at least two competitors, either direct or indirect. You will need some knowledge of the competition and access to information about them to complete the rest of the assignment.
Section 2: Marketing mix
1. Marketing Mix: Identify each element of the marketing mix and look for evidence of strategy by providing examples.
- Product or Service: Describe features and benefits, branding, packaging, service warranties, and/or guarantees, and the stage of the product life cycle.
- Place/Distribution: When and where do customers buy the product? What kind of distribution strategy do they employ?
- Promotion: Which media does the firm use for advertising? Be specific about what types of channels (MTV, SPIKE, HGTV).
- Sales Implementation: Explain how sales are implemented.
- Other Promotional Strategies: Does the company employ any other promotional strategies?
- Price: How price sensitive are consumers of the product or brand? What is the company’s pricing strategy, and what are they trying to accomplish with pricing?
Section III: Recommendations
- Identify what you believe the company’s competitive advantage is and why. Also, explain their positioning in the market.
- Make specific recommendations regarding the Marketing Mix, Target Markets, and Positioning. You must make at least three recommendations that are different from what they are currently doing.
Report Requirements
- 8-10 pages; MLA format
- Create a PowerPoint presentation that summarizes the report and interesting findings.
- Include all references used.
Paper For Above instruction
This report provides a comprehensive analysis of a chosen company's marketing strategies, its positioning within the market, and recommendations for future improvements. The selected company for this analysis is Nike Inc., one of the world's leading sportswear brands. This paper explores Nike's background, its competitive environment, marketing mix, and strategic recommendations to enhance its market position.
Company Background and Competition
Nike Inc. is a global leader in the athletic footwear, apparel, and equipment industry. Founded in 1964 as Blue Ribbon Sports and officially renamed Nike in 1971, the company has established a strong presence worldwide. Its primary products include athletic shoes, sports apparel, and accessories. Nike operates within the sportswear and sports equipment industry, serving consumers ranging from amateur athletes to professional sports professionals.
The company's mission statement is "To bring inspiration and innovation to every athlete* in the world," with the asterisk emphasizing that if you have a body, you are an athlete. This mission underscores Nike's focus on inspiring consumers through innovative products designed for athletic performance and lifestyle.
Marketing objectives of Nike include expanding its global market share, enhancing brand loyalty, increasing direct-to-consumer sales via its digital channels, and maintaining its innovative edge to differentiate itself from competitors. Nike’s marketing strategies emphasize engaging storytelling, athlete endorsements, and technological innovation.
Target market strategy revolves around segmentation by age, activity level, and lifestyle. Nike primarily targets young adults aged 15-35, sports enthusiasts, and lifestyle consumers seeking fashionable athletic wear. The brand appeals to both serious athletes and casual wearers seeking stylish and comfortable sports apparel.
Major competitors include Adidas and Under Armour, which compete directly with Nike in athletic footwear and apparel. Adidas offers a similar range of products with a strong focus on lifestyle and fashion, while Under Armour emphasizes performance-oriented athletic gear. Both competitors challenge Nike’s dominance through innovation, brand partnerships, and targeted marketing campaigns.
Marketing Mix
Product
Nike’s products feature advanced technology, comfort, and innovative designs. The brand benefits from strong branding and iconic logos, such as the swoosh. Nike’s product line includes sneakers, apparel, and equipment, with some items tied to athlete endorsements or collaborations with designers. The company is currently in the maturity stage of the product life cycle, continually launching new models and tech upgrades to maintain consumer interest.
Place/Distribution
Nike employs a multi-channel distribution strategy involving company-owned stores, online retail platforms, and third-party retailers. Customers can purchase Nike products through its official website, mobile app, department stores, and specialty sports retailers. The strategy emphasizes convenience and accessibility, ensuring availability worldwide and leveraging e-commerce to reach global markets.
Promotion
Nike’s promotional efforts are notable for high-profile advertising campaigns featuring athletes like Michael Jordan, Serena Williams, and Cristiano Ronaldo. Advertising channels include television, digital media, social media platforms, and outdoor advertising. Nike cooperates with sports broadcasters, sponsors major sports events, and utilizes social media influencers to reach diverse audiences.
Sales Implementation
Sales are implemented through a seamless integration of online and offline channels, with a focus on personalized customer experiences. Nike’s app-based shopping, exclusive product releases, and loyalty programs enhance customer engagement and drive sales.
Other Promotional Strategies
Beyond advertising, Nike employs experiential marketing such as Nike Run Clubs and sponsored sporting events that build community engagement. Personalization options for products and targeted marketing campaigns via data analytics also serve as promotional strategies.
Price
Nike adopts a premium pricing strategy aimed at establishing quality and innovation as key value propositions. While some products are priced at a premium, the company adjusts prices based on regional income levels, product exclusivity, and technological features. Consumers exhibit high price sensitivity for basic apparel, but are willing to pay a premium for innovative or limited-edition items.
Recommendations
- Enhanced Digital Experience: Nike should further invest in its digital platforms by integrating augmented reality (AR) features to allow virtual try-ons, providing an immersive shopping experience that could boost online sales and customer engagement.
- Target Emerging Markets: Expand marketing efforts into emerging economies like India and Africa by tailoring product offerings and pricing strategies to local preferences, thus capturing underserved segments with high growth potential.
- Innovative Product Lines: Develop eco-friendly and sustainable product lines with transparent supply chains to meet increasing consumer demand for environmental responsibility and differentiate Nike from competitors.
Overall, Nike’s strategic focus on innovation and global branding positions it strongly within the athletic apparel industry. Implementing these recommendations can help Nike solidify its market dominance and adapt to evolving consumer trends.
References
- Keller, K. L. (2013). Strategic Brand Management: Building, Measuring, and Managing Brand Equity. Pearson Education.
- Porter, M. E. (1985). Competitive Advantage. Free Press.
- Schindler, R. M., & Dibb, S. (2018). Tools and Tactics for Marketing. Pearson.
- Kapferer, J.-N. (2012). The New Strategic Brand Management. Kogan Page.
- Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
- Shankar, V., & Balasubramanian, S. (2009). Mobile marketing: A synthesis and implications for marketing strategy. Journal of Interactive Marketing, 23(2), 118-129.
- Yin, R. K. (2018). Case Study Research and Applications. SAGE Publications.
- Johnson, D., & Smith, P. (2020). Digital transformation in retail: Nike’s omni-channel approach. Harvard Business Review, 98(4), 45-53.
- Gao, G., & Zhang, L. (2021). Sustainability strategies in sports apparel: Consumer perceptions and brand positioning. Journal of Business Ethics, 168, 567-581.
- Statista. (2023). Nike Inc. revenue and market share. https://www.statista.com