This document discusses Nike's marketing strategies and position as the market leader in sports marketing. It analyzes Nike's marketing mix of product, price, place and promotion. Nike utilizes strategic sponsorships and ambush marketing to promote its brand globally. The document also performs a SWOT analysis and discusses opportunities for Nike to further grow its business, such as expanding into new sports and markets like China, India, and Brazil.
Analyzing Nike's products and promotional strategies.
The presentation can be viewed with audio on Youtube. https://www.youtube.com/watch?v=vKVO8P7x7Bc
Athletic Apparel Industry (Nike, Adidas, Under Armour, Puma)
Industry Overview,
Market Share,
Industry Analysis; External (Five Forces, PESTEL framework),
Strategy Analysis (Positioning map, Internal (SWOT) of each company) with spider charts, Performance evaluation.
Analyzing Nike's products and promotional strategies.
The presentation can be viewed with audio on Youtube. https://www.youtube.com/watch?v=vKVO8P7x7Bc
Athletic Apparel Industry (Nike, Adidas, Under Armour, Puma)
Industry Overview,
Market Share,
Industry Analysis; External (Five Forces, PESTEL framework),
Strategy Analysis (Positioning map, Internal (SWOT) of each company) with spider charts, Performance evaluation.
My team and I did an in-depth overview of Nike's competitive position in the sports apparel and footwear industry as well as suggested strategies to help improve their performance.
The purpose of this study is to investigate how well Adidas competes with other brands on quality, innovation, and social responsibility. We will analyze how these elements impact their financial expenditures. Furthermore, we will explore ways Adidas can expand and continue to be a leader in athletic footwear.
My team and I did an in-depth overview of Nike's competitive position in the sports apparel and footwear industry as well as suggested strategies to help improve their performance.
The purpose of this study is to investigate how well Adidas competes with other brands on quality, innovation, and social responsibility. We will analyze how these elements impact their financial expenditures. Furthermore, we will explore ways Adidas can expand and continue to be a leader in athletic footwear.
Adidas is words second leading company of sports footwear and clothing.
Adidas is Germany Based company.
Being the 61th positioned brand amongst the World's Most Valuable Brands and having more than 92 imaginative organizations, Adidas has situated itself as the pioneer on the planet market.
The Adidas AG plans, creates, delivers and markets a scope of athletic and sports way of life items.
International Marketing Strategy of Nike Inc.Ananya Jain
The Nike ethos is characterised by an emphasis on the role of internationalisation as an entrenched component of their business strategy. This is reflected by their mission statement, which aims to “bring inspiration and innovation to every athlete* in the world” with the caveat that “*if you have a body, you are an athlete” (Nike.com, 2017). Significantly this emphasises a global outlook, that transcends the elementary definition of international marketing - “the marketing of goods, services and information across political boundaries” (Albaum et al., 2005). Many firms take mercantile approaches to marketing that “satisfy customer requirements profitably” (Marketing and the 7Ps, 2015). Nike, however, follows more holistic principles - “11 maxims” (Farfan, 2017) - that allow it to achieve its fundamental premise - to inspire its global consumer base, albeit in a financially rewarding manner. Armed with a global marketing orientation, Nike caters to a range of customers that have a plethora of demands, which vary along demographic, geographic, and cultural lines. Thus, their marketing model is predicated upon nuanced strategies that consider domestic market variables (domestic and foreign controllables & uncontrollables) (Ghauri & Cateora, 2014). Consequently, and because of the large role that internationalisation has played in Nike’s success story, this paper evaluates its marketing strategy; with a focus on micro, macro, and task analysis.
Nike, Inc. is a well-known company that produce branded sport shoes and quality sportswear that has been admired by everybody for their brand. Brand management of Nike, Inc. has play an important role to the company as they are successful in capturing brand minded of consumers in all levels. Although at first Nike, Inc. faced tremendous critics from public about their inconsistent attitude which constantly changing their plans as they wanted, suddenly they realized that they need to come out with something to encounter the perception of public by introducing ―Just Do It‖ campaign which give the spirit of doing something without hesitate. At the time being, Reebok, the biggest competitor of Nike, Inc. trying to compete with them in term of sales but Nike, Inc. has proved that their ―Just Do It‖ campaign has been successfully implemented. The ―Just Do It‖ campaign has become one of the advertising methods by the Nike, Inc. in order to promote their brands until now.
RESEARCHINTRODUCTIONAs people these days are concerned abo.docxaudeleypearl
RESEARCH
INTRODUCTION
As people these days are concerned about their fitness. So, nowadays people are engaging themselves into sports and fitness activities. Trend is changing as people used to pass their time by doing household work in the past and now people started falling towards sports and fitness activities. Due to this change in trend, the sports and fitness apparel stores started earning more profits as they used to before the trend.
So, in this report we are going to research as consultants to an investor who wants to invest money into these apparel stores. Our ultimate agenda for this report will be to research the sports and fitness apparel market globally, its trends, players in this market, growth in this industry.
SCOPE OF SPORTS AND FITNESS APPAREL IN GLOBALMARKET
With theincrease in the awareness of the importance of sports and fitness in the life routine. People are becoming more conscious towards their health and sports and fitness companies have seen a tremendous growth in their sales or revenue of different sports and fitness wears. Nowadays the most demanding sports are Football, Swimming, Aerobics and the fitness activities such as Yoga, Gym and so on. Some of the highest grosser in this industry are Nike, Adidas, New Balance, Puma etc. Scope of this industry is increasing day by day and will bloom in the future too.
Not only these companies but some companies have come up as winners and are giving competition to these established brands. Each brand has build up their own strategies it might be growth strategy or market strategy. Not only the developed countries but developing or emerging countries in Asia such as India are viewed as having a great market for the sports and fitness apparel and it is estimated that India will become the highest grossing market for these products. In this ongoing growth phase,the industry is able to see many product launches, partnerships which will help further in growing this market. E-commerce will also play a significant role towards increasing the sales for these stores. Most of the brands have already started selling their products through some of these online markets such as Amazon.
MARKETING MIX
A marketing mix is a tool used to determine the best way to market a product or service. It is a combination of broad factors that address different aspects of marketing. The best-known and most basic marketing mix is known as the four Ps of marketing: product, price, place, and promotion(Gilstein& Julia. posted by Salem press Encyclopedia, 2018. 2p. retrieved on September 21,2019 from conestoga college library).
Marketing Mix includes four elements or consists of 4Ps-:
1. Product- Product is a commodity that are presented to the customers. In this case, there are many products that are related to sports and fitness.
2. Price- Price is the rate at which a customer agrees to buy a product. Many companies make different strategies such as lower cost strategy which is used by companies to a ...
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
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involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
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Nike Marketing Analysis
1. Nike – Just Doing It? Sports Marketing Panoramas
2.
3. The Business “ The Design, Development and Worldwide Marketing of High Quality Footwear, Apparel, Equipment, and Accessory Products.” Nike Inc Annual Report 2008
11. Ansoff Matrix Real Strategic Growth (Thompson 2001) Better Understand Customers (Deng 2009) Areas of Interest, Sporting Idols Advertising Campaigns, Relationship Marketing China, Russia, India & Brazil
12.
13.
Editor's Notes
Looking at the Brand, the Global Business
“ We respond to trends and shifts in consumer preferences by adjusting the mix of existing product offerings, developing new products, styles and categories, and influencing sports and fitness preferences through aggressive marketing.” Nike has evolved from being a part time car boot sale at track day business to being a global marketing orientated company with tangible products their most precious tool. Innovation, Creativity and Technological advancements ensure Nike remain the market leader. We invent markets philip knight 00
Having a strong marketing mix (4 P's) is important for an organization to thrive. Product: offers a wide range of high quality sporting shoe, apparel and equipment products. Nike recently collaborated with Ipod to produce a Nike+ product, look at its sponsorship deal with Manchester United or its recent involvement with the charity ‘No Sweat.’ Strategic Alliances allow the pooling of skills and resources which creates a more potent force in the marketplace. Brands can share commercial wisdom, consumer profiles and creativity. Price: Nike’s pricing is designed to be very competitive to their rival top sport retailer Adidas. Nike as a brand commands a high price to match their reputable high quality goods. They position themselves in terms of quality, technology and innovation. Promotion: Nike has used sponsorship to generate brand authenticity in these markets. They view advertising as a vehicle for articulating a brand’s sign value (Goldman & Papson 1998, p.2). It was the signing of basketball player Michael Jordan in 1984 that proved to be one of the biggest boosts to Nike's publicity and sales. Following this success they signed brand ambassadors, the best sporting stars, such as soccer players Ronaldino, Ronaldo, wayne rooney, Lebron James and Jermane O’Neal for basketball, Lance Armstrong for cycling, and Tiger Woods for Golf. Nike’s brand images, the Nike name and the trademark swoosh, make it one of the most recognizable brands in the world. Place: Nike shoes are carried by multi-brand stores and the exclusive Nike stores across the globe.
Nike has rather quickly progressed from initially trading innovative running products to becoming a global brand, instantly recognisable around the world. Its Marketing Strategy rests on a favorable brand image. In order to maintain and sustain this image, the company makes huge investments in advertising and brand promotion (Deng 2009, p.102) Its distinctive brand image, the swoosh, is a sign of high quality modern sports products. To the customer, it represents - Good Value & Positive Consumer Perceptions To the business, it represents – a barrier to competitors, profitability. BEST GLOBAL BRANDS 2008 by Interbrand Following a time when the swoosh became so popular the brand stopped putting their name on advertisements, Goldman & Papson warned in 1998 of overexposure, or in their view ‘overswooshification,’ where the more common the sign became the less value it had. Nike responded well using their slogan just do it, using the name again and redesigning their branding strategy using terms like NikeID Nike+ and most recently Nike5.
STRENGTH: Strong Subsidiaries - Hurley, Cole Haan, Converse & Umbro WEAKNESS: Overexposure – Overswooshification (Goldman & Papson 1998) OPPORTUNITY: Ultra Global - And we’ve grown enormously in China, we’ve begun inroads in India, and made great growth strides in Russia. 07 THREAT: Competitors – Adidas & Reebok, Puma, etc Awareness – Report 2008: Failure to respond to shifting trends and customer preferences in a timely and adequate manner could have an adverse effect on our sales and profitability; this is a continuing risk. To stay quick and nimble, you have to organize against specific opportunities and empower people to attack those opportunities. 07 VIDEO>>>>
The Olympic Games with its huge audience is perhaps the premier place for companies to showcase their brand(s). Tripodi & Sutherland 2000 in their study ‘ambush marketing – an Olympic event?’ Brand New Retail Store - This is the company's first Nike-branded and Nike-owned store in China. "It's extremely exciting to open a flagship Nike retail presence in one of the world's great cities," said Nike brand President Charlie Denson, who was at the opening. Coincidental that it happened to be the Host City for the Olympics?, "China is one of Nike's biggest growth opportunities, and one of the most dynamic retail markets in the world." Adidas paid an estimated $80 million to $100 million in cash and in services such as uniforms to win the Beijing Olympics sponsorship. "The Beijing Olympics will be an Adidas event," said the chief executive , Herbert Hainer.
Philip Knight Annual Report Introductory Letter 2008. As I write this we’re heading into the Beijing Olympics – a moment that NIKE has been working toward for 30 years. NIKE is the number-one sports brand in China, which is also our largest sourcing country and our biggest market outside the U.S. Ambush marketing is an attempt by corporations to mislead the public into believing that they are supporting a sports event (Payne 1998). Nike is able to create a connection in consumers minds between its brand and the Beijing Olympics. CLAMPDOWN The UK Government is preparing a law that will prevent any business making reference to the 2012 Olympics in its promotions, unless it is an official sponsor. The 2003 World Cup in South Africa did similar, where the Government changed the trade mark and marketing laws of the country with the effect that spectators drinking Coca-Cola were ejected from the venues as Pepsi were an official sponsor. VIDEO>>>
Worlds Biggest Running Event to Date. Perfect Timing? The Olympics ended August 24, 2008 and the Nike Human Race was held immediately after, on the 31 st . The Nike Human Race , designed to perfectly coincide with, and profit from, the Olympics. This helped stimulate the Olympic euphoric afterglow, which Adidas paid SO MUCH for to generate, and get all eyes on Nike. Annual Report 2008: “We’ll give the world a chance to catch its breath from Beijing, but only for a minute. On August 31 we launch The Human Race, the world’s biggest single running event in history – runners around the world competing and connecting simultaneously through the power of NIKE+ technology. This is what NIKE is all about – innovating on multiple fronts and creating a bigger more vibrant marketplace. That’s what we do best and we’re doing it all over the world. Created a Category — stimulating category growth (running) to drive product sales, especially in China, where running is still a nascent sport Brought Games to the Masses (Again, Especially China) — owning the actual experience of sport Creating deeper connections — promoting the Nike+ digital platform to bring people together in one online global social community. Nike’s strategy made watching the Olympics a much less exciting prospect than actually participating in a global sporting event which raises the question, ‘what could Adidas have done with the 100 million dollars it spent to be an official sponsor?’
TV viewing figures in Formula 1 broke through the 600m barrier thanks to the extraordinary World Championship showdown between Felipe Massa and Lewis Hamilton. Average of 350m per race (17) The Olympic Games in Beijing were followed by a record 4.7 billion television viewers across the world tuning into 16 days of sport. F1 draws an incredible 6 billion television viewers tuning into 17 days of motorsport. China has now become the sport's biggest audience with a total of 119m watching the races during the season, whilst Russia are strong followers as well and a move could help Nike make an even greater impact in these two colossal markets. Force India F1 represents India's increased participation within Formula One. Jordan chief executive Eddie Jordan commented: 'Puma is one of the leading brands in athletic footwear, apparel and accessories, and Formula One will provide an excellent global arena for it.' "Virgin are trying to build the most respected brand in the world and an involvement with a great team will help that," Branson added. Nation gripped by the ‘Lewis Hamilton effect’ – it is not only Britain’s men who have a passion for the sport, today over half of all women (55%) have watched motorsports on the television compared to three quarters (75%) of men.
MARKET PENETRATION – New advertising to raise awareness of products, whilst increasing use of relationship marketing, getting to know customers better and improving relationships with them to increase loyalty LITTLE RISK >>> this leads on to product development >>> PRODUCT DEVELOPMENT – It needs to better understand its customers so that new products and new advertising can have the most impact in the market by giving consumers what they want and appealing to customers’ physical and psychological needs (Deng 2009, p.103) MODERATE RISK NEW MARKET – Key areas continue with China primarily, with Russia, India and Brazil all in mind with the potential to be ‘multi billion dollar markets’ for Nike. MARKET DEVELOPMENT – Areas of interest relevant to each area, for example the already mentioned link between formula one and China, Russia and India. With Brazil, football is the key sport and Nike have already cemented their presence with a 160 million dollar contract with the Brazilian football federation for 10 years. MODERATE RISK DIVERSIFICATION - An effective, well thought through diversification and acquisition can constitute real strategic growth by providing entry into a new market, a new opportunity to build on competitive strengths, an opportunity to create and benefit from synergy and the possibility of removing some element of competition. (Thompson 2001, p.569) HIGH RISK as product and market are unknown, high quality research is key to success.
The statue is in the Louvre in Paris and is called "Victoire de Samothrace", sometimes called "Winged Victory". The Greek goddess of victory is called Nike, so the statue is also known as "Nike of Samothrace", and is thought to have been commissioned to commemorate a naval victory about 300 BC. She is known as the Winged goddess of Victory. Nike is the goddess of strength, speed, and victory. Strength, Power, Respect & Immorality.