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

    It might be but, first, they require a lot of financial support and this will represent a heavy commitment. Cash cows Cosmopolitan are cash cows. Cash cows have reached the maturity stage in their product life cycle and are now 'Yielders' they have a high market share in markets that are not rapidly expanding.

  2. Marketing Strategy - Nintendo Gamecube

    Nintendo has also added another analogue stick, so in 'Luigi's Mansion' for example, you can move with one stick and control Luigi's torch with the other. Character and vehicle control will also be further enhanced thanks to the controller's two analogue shoulder buttons.

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

    and enter segments of the communications market that we believe will experience rapid growth or grow faster then the industry as a whole. By expanding into these segments during the initial stages of their development, Nokia have established themselves as one of the worlds leading player's in wireless communications and

  2. creating a marketing proposal

    The production/operations department carries out these tasks. Job production This production is for to make a single product. Every item made will be different, to meet the customer's individual and specific requirements, for example wedding or birthday cake. It needs an individual recipe and method.

  1. edexcel Marketing Assignment

    Your opinions will be taken into consideration. The economy Economy is the connection between production, trade and the supply of money in a particular country or region. E.g. work, businesses and education level. According to the further research being made on the economy of barking from a source (www.upmystreet.com), it was found in the 1"neighbouring profile that

  2. Marketing Plan

    Promotion is itself a mix of lots of methods. The main methods are: * Advertising on TV, Radio, Internet or posters * Sales Promotion-Discounts, Free Offers, Competitions, Demonstrations Coupons and Displays * Direct Marketing - through personally addressed mailing, telephone sales, teletext and email.

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

    In 2004 The End of Life Care Initiative allocated �12m over 3 years to 'skilling-up' health professionals in palliative care, specifically targeting cancer suffers. (news.bbc.co.uk) The 'Assisted Dying for The Terminally Ill Bill 2004' is at present not being incorporated into palliative care.

  2. I have been asked to produce a marketing strategy for an existing or new ...

    A good reputation or image can also be lost if a company produces a product that is not popular. To minimise these risk companies invest in market research. Market research is not always viable if the cost of producing the wrong product is low.# Market research can be very costly.

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