• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

How Nike Meets The 5 Principles Of Marketing.

Extracts from this document...

Introduction

How Nike Meets The 5 Principles Of Marketing The 5 principles of marketing are: Customer Needs Competition Communication Co-ordination Constraints Customer needs are one of the 5 principles of marketing at Nike there mission is to represent the highest service standard within and beyond their industry, whilst building loyal customer relationships around the world. They do this using primary research some of this research includes questionnaires on their website and FAQs which are designed for customers to ask questions and have an opinion about Nikes products. As Nike sponsor a lot of athletes and celebrities they have to no what they look for in a product ie football boots for David Beckham he'll have a small input into how he wants them manufactured as he is to wear them but Nike get a lot back from this because people see him wearing the boots and want to buy them this is linked competition one of the other 5 principles of marketing. ...read more.

Middle

sponsored by Nike playing football in a cage with the re-released song of Elvis's it was so success full that they launched the Nike football game on there website and the advert was extended to show the whole Nike football tournament this was due to popular demand of people posting notes on the website and emailing Nike for more. Nike found out what adidas were planning to do and did it better just like any other company should do if other companies are selling a similar product. Communication is vital other how would Nike be able to research for customer needs and suss out the competition. Communication is the exchange of information either through word of mouth letter or technology such as the Internet and television. Nike used the Internet to set up a website which can be used to access information about its products and future developments or simply to play the games such as Nike football. ...read more.

Conclusion

In order for Nike to function in marketing it has to abide by some constraints for example the law Nike cannot copy a football boot that adidas have brought out and put there name on it that is against copyright laws. Also the competition is a constraint as it can limit what your producing because if they have the upper hand and bring out a running trainer that has all the requirements that the runner needs Nike cant make one better just equally good or not as good as the requirements have been met by the opposing company. Nike have to meet the consumers needs otherwise the product will be difficult to sell as lack of interest will result in loss in profits. Nike doesn't have the problem of being limited from a financial side of things because last year they made profits of nearly $9billion dollars so diversification is always taking place in Nike with this profit they can ensure that they complete all the 5 principles of marketing affectively and to the highest standard possible. ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Marketing and Markets section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Marketing and Markets essays

  1. This coursework entitled "Marketing" is about creating a marketing strategy for a new or ...

    The costs for making and testing a car such as the A6 are very high; therefore the price is likely to be high. * Price elasticity of demand - how sensitive the product is to change in price. If it is sensitive then lowering the price will result in an increase in turnover.

  2. Produce a marketing strategy for a new or existing product

    change the age range to aim at an larger audience and this could probably provide 'Cosmopolitan' with more customers and less competitive market. Another weakness for Cosmopolitan is that it struggles to keep up with anticipating ever-changing top celebrities. To overcome this weakness and change it into strength.

  1. creating a marketing proposal

    But mass production, although allowing lower prices, does not have to mean low-quality production. Instead, mass-produced goods are standardized by means of precision-manufactured, interchangeable parts. The mass production process itself is characterized by mechanization to achieve high volume, elaborate organization of materials flow through various stages of manufacturing, careful supervision of quality standards, and minute division of labour.

  2. Identify and describe the marketing principles being applied by Nike to its products

    Nike must discover how to get the message across about the new product, this could be through several ways of advertising, such as, leaflets, radio stations or even television, Nike must chose the best advertising method to suit the target market and actually promote the product.

  1. Marketing Strategy - Nintendo Gamecube

    In addition, I have managed to start typing up the section about Nintendo and Gamecube using information from the Internet and promotional leaflets from HMV, Bluewater and Dixons, as well as magazines. Apr. 13 - 14 * Commence writing up an "Introduction to Marketing" section, detailing the principles of marketing and a summary of some key features.

  2. Design a small scale marketing plan and formal report for a small business.

    I will also investigate the Boston Matrix theory and how it will help in making decisions about extension strategies. From investigating these things I will suggest ways in which Jack can prolong his shop's product life cycle. I will also have to decide on what pricing strategies Jack will use,

  1. Identify a marketing strategy for the Lydiard Travel Inn, Beefeater Restaurant, and Pub and ...

    One of the first three sites to open was in Swindon (opened April 9 2001). This has already happened and when I went on the visit to beefeater in Swindon the conference, it was held there. The Whitbread Hotel Company are investing �2.7 million in developing the new brand and

  2. Tourism principles and practice.

    On all three counts, there are benefits accruing to travel and tourism marketers who pay close attention to the extra Ps of the expanded marketing mix outlined below. The people component It is easy to recognize that most of the variability of the tourism product stems from the substantial human interactions inherent in the experience.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work