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

    to formulate the basis for a potential marketing strategy. No. Organisational Specific Problem 1. Financial implications - the costs of running the hospice has grown this year to �16,000 a day or 5.8 million for the year.

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

    will know that the car owner is not satisfied with his or her car. We may need to re-design the car. 4. If you were to purchase a new car would you be prepared to pay more money for your car if it was produced by a highly regarded company?

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

    I have also discovered that Nokia have established themselves as one of the most popular mobile communications companies in the market with a total of over 52000 sales in 1997 which was a 34% increase from 1996's sales. There are many external factors that can affect a marketing strategy from developing; this is where you must use P.E.S.T analysis.

  2. Plannng and research. I would like to open a African restaurant, food from all ...

    You can also have the e-mail include a redemption code that will allow you to track what percentages of the e-mails are bringing in guests and calculate a return on investment. Recent research has shown that retention based e-mail marketing is 300 to 400 percent higher than traditional vehicles such as direct mail and faxes.

  1. Marketing Plan

    * Sponsorship- Person or an Event * Personal Selling- through Sales Representatives (who are mainly used for selling to business) also trade fairs, exhibitions and party sales. * After Sales service and customer care-designed to build up customers loyalty so that they keep coming up.

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

    The younger audience are the school age group, because this age group is at school they don't have much disposable income this not only giving them no opportunities to splash out their money, but also leaving out of the gossips which come within the magazines.

  1. Marketing Strategy - Nintendo Gamecube

    At the moment, the only confirmed method is the use of a questionnaire, as this is a very popular method and can obtain answers and data to specific questions. For my presentation, I have decided to choose price as my aspect of the marketing strategy.

  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

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