Nikes Marketing Strategy.

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Marketing         E1        

AVCE Business – Nikes Marketing Strategy

Marketing is based on understanding of the customer and what they may want or need, and working out ways in which customers may be persuaded to buy.

I have chosen to look at Nike. I think this is good choice as they are a large company and the information will be quite easy to obtain, as I know people who work for the company and Nike also have a well detailed website which I can also use to gain relevant information.

Through out the assignment I will make all the general comments about other companies, which is known as the theory, and then I will relate the theory to Nike stating how it is done, used or organised.  

The Principles of Marketing

Marketing allows businesses to inform customers of products that are on offer and to persuade customers to buy those products.

Marketing is about knowing, understanding and influencing the customer

There are three main elements to planning a marketing strategy

  1. Finding out about customer – their needs and anticipated needs

  1. Finding out about the market – analysing the competitor

  1. Finding ways of satisfying customers – communicating with the customer and co-ordinating business functions to meet their needs

The Planning Cycle involves

  • Analysing the market position
  • Setting marketing objectives
  • Deciding on the marketing strategy
  • Implementing the strategy
  • Monitoring and evaluating the effects

The cycle is continuous as markets are active. They constantly change in response to a variety of factors.

Marketing objectives be different depending on weather the product is

  • New
  • Established
  • A market leader
  • A smaller player in the market.

Typical objectives might include targets regarding sales revenue, sales volume, profit levels, market penetration, market share, growth or acquisition.

Consumer Demand

Marketing involves anticipating and manipulating consumer demand. It can be done by using Supply and Demand curve. Where P = Price and Q = Quantity demanded and supplied. The equilibrium point is where demand meets supply leaving no excess supply where people don’t demand the product or demand is not greater than supply. The equilibrium point also helps to determined price.

Customer Expectations

What do customers expect of a particular good or service?

Expectation tend to centre on being able to buy the right product – the one that is most suitable for the purpose or job to be done.

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  • It needs to be the right size, shape, colour or variety.
  • It needs to be at the right price.
  • It needs to be available at  a time and in a quantity which matches when and where the customer wishes to buy it.

Different types of marketing strategies that I will use.

  • Swot Analysis – This looks at the factors that might affect the success or failure of a marketing strategy. It is a technique which, requires the business to look at its internal strengths and weaknesses and its external opportunities and threats.

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