• 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 ...

    on the company * Limited audience * Can link to site where A6 sold * Fairly suitable Audi promote and sell their products under the company brand name. This helps to create brand loyalty which may earn higher profit, help keep customers, launch new products new easily and extend the brand.

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

    First of all I need to see where my product in the market to see whether it is stabled in the market as for Cosmopolitan it would be quiet safe to start playing around with their product and start making the changes that will accomplish its results.

  1. Marketing Strategy - Nintendo Gamecube

    Information not data helps decision-making. The purpose of such research is to identify whether there is a want for a particular product - a gap in the market - or whether a want can be created among consumers by persuasive advertising. STAGE ONE Decide on the purpose of market research. What information do you need?

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

    and will be linked into this proposed strategy. Resource Outcomes Central Greater Manchester Location Large geographical spread ensuring constant demand for services - The proposed segmentation basis will limit this demand to those areas with the highest concentration of need. High percentage of potential volunteers - The central location will be highlighted to attract volunteers that do not live far away.

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

    By year-end, Nokia Networks had delivered MMS solutions to well over 40 operators. WCDMA 3G technology implementation moved to pre-commercial and commercial phase towards the end of 2002. Nokia signed 10 new 3G deals in Austria, Belgium, Germany, Ireland, Japan, the UK and Taiwan.

  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