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

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

Extracts from this document...

Introduction

Identify and describe the marketing principles being applied by Nike to its products. The purpose of Nike is to meet actual and potential customer needs, doing this the ethical and legal way. Marketing is about businesses such as Nike, getting the product to the right sort of people at the right price in the right place, by using the right promotion. Nike must target the right product at the right audience, for example, it would be worthless aiming sports shoes to older people because they don't exercise because they are to old and weak. For the marketing strategy to be successful Nike must follow the main principal of marketing, which is identifying and meeting actual and potential customer needs, however, to follow this principal the next principals listed must be followed: � Understanding customer needs, � Understand and keep ahead of the competition, � Communicate effectively with its customers to satisfy customer expectations, � Co-ordinate its functions to achieve marketing aims, � Be aware of constraints on marketing activities. To understand customer's needs, Nike must be aware of their customers changes in tastes and preferences, the business will have to keep up to date with what customers want. Incomes must also be considered. This is important because if an expensive product was aimed at adults who are on the poorer end of the market, and they basically couldn't afford it then the product will not sell. Therefore, the price of the product will obviously have to compliment the target market in order for it to be successful. ...read more.

Middle

Nike also needs to create a strategy; Pest and SWOT analyses can be used for this, as well as other marketing tools. Nike would also produce detailed plans for marketing activities with SMART objectives. In order for Nike to become successful everything must b organised to meet objectives. The business must create a strategy on what the organisation needs to achieve. Nike must decide on tactics and tasks, detailed plans for marketing should be done. The strategies that must be considered should be: � What product Nike will be introducing, � Where the product is going to be sold, � What price the product will be, � How the product will be promoted. Once the marketing objectives have been agreed, it is necessary to develop marketing plans to achieve the goals. The marketing mix provides an excellent framework for developing marketing plans. The marketing mix is made up of a number of parts- product, price, place and promotion. Product means the combination of goods and services that is offered to the target customer e.g. Nike offers a wide range of products such as shoes, gym bags and clothing. The products arrive with a guarantee, which is very much part of the package. Price is the amount of money customers have to pay to acquire the product of their choice. This can vary considerably from the advertised price e.g. Nike can offer discounts, which will combine to alter the price individual customers pay. ...read more.

Conclusion

> Legal working age for that country. > 1 day off in 7. Pressure groups watch businesses activities to protect people or animals. E.g. save the children protect children and want to pit an end to sweat shops. They also investigate businesses and if they find any business that have seat shops they will try their best to put a stop to this as soon as possible. This is very important to Nike as they say they don't operate no sweat shop policy. As Nike manufactures many of their products abroad it needs to ensure all the rules and regulations are being followed abroad to. These have been concerns by pressure groups that suspects that Nike isn't following their code of conduct abroad, in the factories that are producing their products, however their isn't no sold evidence. Consumers are very concerned that products they are purchasing are produced ethically and when they start doubting businesses they may start to boycott and purchases alternative products form their competitors. Consumers have a right to know how the products are being made that they produce, there is also a UN agreement the ethical constraints for Nike are no child Labour or unfair pay, but the employees get �8 a week and it would take them a whole month to buy on of the shirts they are producing without spending any of their money on food, water etc. some people would consider that to be unfair but compared to other local jobs they are being paid a lot more. Also hour's Nikes employees were required to work are 14 hour shifts which Nike also still denies. ?? ?? ?? ?? Page 1 of 4 ...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 ...

    Suitable Cinema * Images and sound can be used * Great impact on audience as they are there to watch something * Market segments can be targeted (e.g. age, gender) * Must be repeated very regularly to have great effect (maximum 100 people will see it each time)

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

    process that will enable it to gain more readers then it already holds. The methods that I intend to use are very effective way of getting through to a lot of readers that are aware and unaware of the product.

  1. This report will focus on the adult palliative care provided by SAH proposing a ...

    This will impact both donors and volunteers but also the fundraising activities of SAH. Invitations can be sent out through the online DM system as well as promotional material for individual events. Figure 28 - The Communications Mix 10.5 People SAH organisation relies heavily on its internal publics.

  2. Marketing Strategy - Nintendo Gamecube

    These messages may be present in a variety of places such as posters and leaflets, in letters and catalogues, advertisements in newspapers and magazines, or on the TV or websites, even on footballer's shirts. They can be informative messages (such as the launch date of the Gamecube and opening times

  1. For this project I have been instructed to come up with a marketing strategy ...

    The company also further strengthened its GSM/EDGE/WCDMA product family with several new products and solutions. Key launches included a high-availability server platform for use in All-IP mobility networks, and the Nokia LTX, a linear transceiver product family of base station modules that support the definition of Open IP Base Station Architecture.

  2. How Nike Meets The 5 Principles Of Marketing.

    Competition existing with every business and company and products that businesses and companies sell this is because of the amount of companies marketing the same product. In order for Nike to keep ahead of its competition (adidas and Reebok) its need to find out what they are selling and how

  1. creating a marketing proposal

    Advertising greatly increases your chances of success. Make the customer feel comfortable with your product or service. Provide an environment that they will feel safe in. Make them feel good about spending their money. Don't scare the customer. Be nice to the customers and wear smart clothe so the customers feel welcome, Businessmen wear suits.

  2. Marketing research - To decide which products and services will be available in my ...

    As part of my research I conducted an interview with Parul Sayania, who is the owner of a similar business in Leeds. I asked the question "Who is your supplier?" Mrs. Sayania informed me that she buys all her supplies and beauty equipment from Sally Express -http://www.sallyexpress.com/.

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