target markets and market segment’ s needs, Nike has made these products available under a number of the company’s brands, including Air Jordan, Hurley , and Converse. He did not surrender, he does not find any excuses and he wants to change his life and find his greatness. NIKE brands. Marketing Strategy of Nike. Then, with the help of experiential agency Sense, they launched “edgy” activations that addressed topical issues by location. NIKE purchased Converse in 2003. Target market is a process where the company evaluates all the market segments and then chooses one or more segments which the company thinks is profitable, and then it enters that market segment. • Many well known athletes have also worked for the advertisement of brand like Brazilian Soccer Team (especially Ronaldo). They have wide range of different products each targeting and appealing a specific group of people. • The production facilities are located close to the raw material to have low labor prices. Target Market Target market is a process where the company evaluates all the market segments and then chooses one or more segments which the company thinks is profitable, and then it enters that market segment. • Initially the goal was to distribute low-cost, high-quality Japanese athletic shoes to American consumers to break the domination of Germany in the shoe industry. Nike evaluates its target market based on size, reachability, measurability and In particular, Nike has niche market to serve. Marketing mix – Here is the Marketing mix of Nike. However there are seasonal variations in some products like spring apparel, the back to school season and Christmas holiday season (Fass, 2000). One of the main targets of Nike are a segment of people who are called Peackoks called by the Garrison group. The company’s profile grew quickly and soon it gained a renowned position in the market. Who … They ran it during the Oscars. Retrieved 2008-06-02. • Website: http://condor.depaul.edu/aalmaney/StrategicAnalysisofNike.htm:  Competitive analysis, Retrieved on March 16, 2011. • Marina Hyde in Beijing (2008). (adsbygoogle = window.adsbygoogle || []).push({}); Designed by Elegant Themes | Powered by WordPress. • Its products are globally available in all leading marketing places of World. These concentrated on strategies encompass product sponsorship via professional and widely recognized athletic team, university sports team in addition to celebrity athletes. Home. Known for its great quality athletic products, Nike is famous globally and holds a very large market share, close to half in US. Market segmentation in Nike has made the organization more effective in meeting the exact wants and needs of the target market. However, over the period of time, it extended its product line to apparels and accessories like clothing, socks, digital devices, eyewear, and equipment for sports. Let's stay in touch :), Your email address will not be published. (In fact, they used Zoomph to track the social media conversations of ���globally curious��� millennials.) • All sizes are not present in every design of shoes. The major threat to Nike is the imitation that goes hand in hand in various, Marketing Strategy of Nikon - Nikon Marketing Strategy, Marketing strategy of Dell - Dell marketing strategy, Marketing strategy of Aquaguard - Aquaguard marketing strategy, Marketing Strategy of Apple Inc - Apple Marketing Strategy, Marketing strategy of BMW - BMW marketing strategy, Marketing Strategy of Dettol - Dettol Marketing strategy, Marketing strategy of Indigo Airlines - Indigo Marketing strategy, Marketing strategy of KFC - KFC Marketing strategy, Marketing Strategy of Alibaba - Alibaba Marketing Strategy, Marketing Strategy of Axa - Axa Marketing Strategy, Marketing Strategy of Baidu - Baidu Marketing Strategy. Plus, continued innovation and product quality are keys to success. • Encourage the environment friendly and pollution free development by reducing the emission and waste minimizing activities with the help of various projects sponsored by WWF and other organizations. Above mentioned are the few potential market segments that Nike chooses to target for driving their business strategy, sales and marketing activities. London: Blogs.guardian.co.uk. Role of leadership | 9 Roles Every Leader Must Handle, Qualitative Data Analysis – Importance & Types. That foe? Read how Nike wants to attract more women in the future. Nike targets customers from different age groups and middle / upper-middle or upper-income social groups. Nike competes with the company like Lululemon, Puma, Adidas, V.F Corp., athletic UNIQLO and many others. Learn how your comment data is processed. Nike uses the following tools to promote its brand: Tool 1: Advertising Advertising, according to Kotler and Armstrong (2010), is any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor. Our mission is to bring inspiration and innovation to every athlete* in the world. It optimizes the manufacturing and production processes. The swoosh logo of Nike was firstly used in 1971, registered in U.S trademark office in 1974 and first product sold with Nike was a soccer (Marina, 2008). • Maintain the leading position in the market by supplying quality products and innovative designs and attract maximum number of customer belonging to all ages and lifestyle. • To meet the requirement of all type of customers (male, female, old and Young). Nike targets these consumers by agreements between Nike and athletic teams, colleges athletic teams1 etc for product sponsorship and eventual promotion to the members of these teams. This strategy has made this company to gain maximum number of customers and profit. • The most famous product categories of Nike includes: Running, Basketball, Cross-training, Outdoor activities, Tennis, Golf, Soccer, Baseball, Football, Bicycling, Volley ball, wrestling, cheerleading, Aquatic activities and other Athletic and recreational use (Todd, Sitthichok, Mottus, Mihlan, & Wing, 2008),. PSYCHOGRAPHIC MARKETING is the way to deliver your message so they know that you, the advertiser, knows what they, the customer needs from your product. The following commercial is a very popular one and has millions of views. This company was founded in 1962 by Bill Bower man and Phil knight as Blue Ribbon Support and later on it became Nike in 1978 (Partlow, 2003). Nike's targeting market is active people who enjoy high quality sporting goods, especially footwear. Nike is the world’s renowned and leading supplier of athletic shoes and apparels. So, Nike’s initial target segment was ‘The Runners’. An excellent business depends upon an excellent marketing strategy. This means Nike has to move closer to the market and continue creating new solutions and product customization. Instead, Nike targeted the core, frequent, highly committed aerobics/fitness enthusiast for whom the activity was an important part of life (Figure 1). Required fields are marked *, Copyright © 2020 Marketing91 All Rights Reserved, Marketing Strategy of Nike – Nike Marketing Strategy,                                                                 Â, 3 objectives of competitive analysis and how it helps in strategy. Promotion, according to Kotler and Armstrong (2010), mean activities that communicate the merits of the product and persuade target customers to buy it. SWOT analysis – Here is the SWOT analysis of Nike. Â, Mission- “To bring inspiration and innovation to every athlete in the world”. No comment | Sport | The Guardian". It uses separate campaign or strategy to cap the market potential of the different segments. I am a serial entrepreneur & I created Marketing91 because i wanted my readers to stay ahead in this hectic business world. Being present in footwear, sports equipment, clothing and many others Nike uses differentiated targeting strategy.Produc… Nike did not run it during the Super Bowl or the World Series. Thus they have high margins but this can be justifiable due to ��� Promotion for Nike is the most critical and though about part of the marketing mix. However, this does not mean Nike does not use market segmenting to more precisely define various market segments. Hoop It Up) for the marketing of brand. These include manufacturing superior products, maintaining the integrity of the global brand and innovating in the area of product design. • Moreover they also utilize the auxiliary bodies to sell the sports related raw materials and products including: Cole Haan Holdings Inc., Nike Team Sports, Inc., Nike IHM, Inc., and Bauer Nike Hockey Inc. Price. The major threat to Nike is the imitation that goes hand in hand in various markets which are affecting its revenues and businesses. Initially the prices of the products were high then the company started focusing on providing high quality products at comparatively low prices to enlarge the circle of customers. Other Customers • In 2011, Nike operated a total of 756 retail stores throughout the entire world. In order to meet this objective, Nike identifies a number of smaller aims and objectives. Market segmentation is the selection of groups of people who will be most receptive to a product. In this way, Nike is able to reach a wide number of consumers and consumers who are more likely to buy. 35 Wall Street analysts have issued ratings and price targets for NIKE in the last 12 months. http://602communications.com/Dig deep inside Nike branding campaigns and you'll discover a very simple archetype story. You can follow me on Facebook. Nike is engaged ��� Continue reading ��� Market Target Nike’s target audience are for people who regularly exercise and for those who will wear for fashion trend as it goes well with the modern-day clothing. There are 697 Nike brand factory stores, 106 inline stores and 99 converse stores and 29 Hurley stores globally. They aim to meet the requirements of people of all ages belonging to varying categories. •Nike has its individual stores and also available at major malls and departmental stores selling shoes all over the globe. No single customer accounted for more than 10% of Nike’s overall sales in the last year, proving that the company has a very diversified market. Nike’s audience is versatile. • The company has designed its pricing structure in a way to make it competitive to other shoe sellers. • They sponsor events (e.g. • To maintain its quality and make it easily available at every marketable place. Soccerpro.com. Nike has a high-end consumer market with high disposable income asking for better service and satisfaction as their target market. Adidas target market falls within the 20- to a 29-year-old age group who are athletes or are passionate about sports and this segment is considered as the strongest consumer market. Required fields are marked *. "The Media Business – Advertising – Addenda – The Media Business – Advertising – Addenda – Nike Spot Wins An Emmy Award – Nytimes.Com".  Nike have strong product portfolio as being present in various interrelated business segments is helping the company in retaining its customers and provide a bundled, Nike distributes its products worldwide through different, Nike is the well-known brand globally and its association with the various sports, athletic footwear and sports equipment industry are highly competitive due to the presence of a large number of local and, Business segments in which Nike operates has a large number of local & national players. They have wide range of different products each targeting and appealing a specific group of people. This severe competition made Nike to do its best and to be a winner in the vast market. However, the industry has been stagnant for years, and Nike, along with its com petitors, is looking for new growth opportunities and areas where the company can gain market share and attract first-time customers. The sporty, active young people are the main target of the commercial. It controls more than 47% of athletic shoe market with sale of U.S dollar 3.7 Billion. • The companies also sell its products through individuals, auxiliaries and licensees. Nike uses different advertising models depending on the segment in the target market. • The company will now focus on providing quality products on low prices to have greater share in the market. Why? Factors such as quality, performance, reliability, competitive pricing, connect with the consumer plays the critical role for the companies operating in this business. Here are the Top Nike Competitors. Also, Nike is in the industry which is by and large affected by the product life cycle which means that sometimes it’s very difficult for the company to respond to the fad timely. • It promises to provide the high quality products at reasonable prices. efficiently achieve its goals. By the end of 2009 the company   generated revenue of 19.2 billion U.S dollars with operational income of 1.87 billion U.S dollars. • Reebok has 16% share in the market with revenue of $1.28 billion, • Adidas has 6% share in market with revenue of $ 500 million, • Converse has3% share in market with revenue of $ 280 million, • New Balance has 3% share in market with revenue of $ 260 million. This strategy has made this company to gain maximum number of customers and profit. Nike has plans to grow the business even larger by focusing on a few key demographics. Nike didn’t build its … Strong product portfolio:  Nike have strong product portfolio as being present in various interrelated business segments is helping the company in retaining its customers and provide a bundled products to them. Nike is one of the pioneers of the manufacturing outsourcing strategy. The most frequent methods of segmenting include demographic variables such as age, sex, race, income, occupation, education, and household status. • To meet the changing demands of customers. http://condor.depaul.edu/aalmaney/StrategicAnalysisofNike.htm. Like Nike, The Economist studied millennials in several target locations. Nike is targeting further geographic expansion and farther marketing penetration in … DEMOGRAPHIC MARKETING is the way to TARGET your marketing. The collaboration between Nike and Nordstrom is an example of how Nike wants to target women in the future. Being present in footwear, sports equipment, clothing and many others Nike uses differentiated targeting strategy. We do that by building creative and diverse global teams, making a positive impact in the communities where we live and work and by making products responsibly and more sustainably. In order to clearly understand what kind of people are the real target of Nike, we should look upon their commercial examples and here is their first one. NIKE (NYSE:NKE) Price Target and Consensus Rating 34 Wall Street analysts have issued ratings and price targets for NIKE in the last 12 months. The brand���s product line looks at the premium target market. Nike has huge range in its target market. Thus their pricing strategy is to provide value at high cost with maximum profitability. • Fass, Allison (2000). http://www.soccerpro.com/Nike-Air-Zoom-Control-II-FS-Indoor-Soccer-Shoes-c439/. What distinguishes Nike from other shoe brands is that it taps into the power of influencer marketing the smart way. Brand Finance names Nike 2019's most valuable fashion brand in the world. It consists of rockers and rappers, artists and thinkers, entrepreneurs, athletes and other individuals – and not just professionals, but regular people, too. Despite all of these emphasis points, Nike is still only ranked #5 as a brand with consumers in the core 18-24 age demographic. We are going to look at the brand Nike with different angles and find out the secrets of the genius of marketing. How to Become a Virtual Assistant and Work Remotely? Nike uses this old-as-time structure differently than most by focusing on an internal foe rather than an external enemy. Emerging markets account for $0.15 of every $1 in revenue that Nike earns. The company initially operated as supplier for the Japanese shoe maker. • New product offerings under the name of brand include sport balls, timepieces, eyewear, skates, bats, and other equipment designed for sports activities. Their average twelve-month price target is $141.44, predicting that the stock has a possible upside of 1.95%. Outsourcing of the manufacturing helps the company in keeping its operational cost low and at the same time focus its competencies on sales and marketing activities to drive the sales. • The prices of the products are variable depending on the type and the size for example a comfortable and good pair of shoes would cost from 70 to 150 dollars. Nike has achieved compounded annual growth rate (CAGR) of 11% for the period of 5 years i.e. • The Brands swoosh logo and image played an important role in its advertisement. • Value the laborers, stake holders and other communities in the implementation of every strategy and decision. Nike is also a global brand, and it would use both sociographic and psychographic data to determine target markets in foreign countries and then tailor marketing programs to appeal to their specific interests. NIKE, Inc. (NKE) is the world’s leading sports footwear and apparel company. I love writing about the latest in marketing & advertising. • The company does not have its own retailers therefore retailers are price sensitive. Customers of Nike ranges from individual customers to companies. NIKE’s high-performance athletic gear is mostly targeted at professional athletes. The high price target for NKE is $174.00 and the low price target for NKE is $96.00. Nike uses psychographic segmentation variables to make its offerings more attractive to the target customers. Nike has huge range in its target market. POSITIONING: Positioning is the final step in the S-T-P planning approach; Segmentation→ Targeting → Positioning; a core framework for developing marketing plans and setting objectives Then, with the help of experiential agency Sense, they launched ���edgy��� activations that addressed topical issues by location. • To reduce the product design, Packaging waste and use of organic volatile compounds to make it environment friendly. So in order to see closer their positioning tactics we need to look upon the 5 main components of positioning strategy. • The company has invested 1 billion in the past two years for community stores. The company is the biggest player in the athletic apparel market, with $28 billion in annual sales. Nike is the overall leader in the $15.6 billion market for athletic shoes and apparel in the United States. Bonus fact. • The mission is to exceed from all leading athletic companies and make it widely available across the globe. "Nike Drafts An All Star". Target Market. Targeting is the important aspect of the marketing strategy, especially when a company is in different businesses. Outsourced Manufacturing Units: Nike receives footwear from more than 140 factories located in 13 countries across the globe. They aim to meet the requirements of people of all ages belonging to varying categories. Nike distributes its products worldwide through different channels such as resellers, supermarkets, e-commerce sites, retailers, licensees and company-owned outlets. Business segments in which Nike operates has a large number of local & national players. Meaningful story – They’re selling more than a product; they’re selling aspiration. Note: The above content is part of the following book. Nike has managed focusing at the segmented groups comprehensively due to markets with similar and related needs. The Washington Post. By looking at social media audiences discussing the campaign, and Nike’s conversation overall, we can go further than the surveys to showcase how brilliant the marketing move truly is. Let’s discuss one of the following target market characters. Nike has subsidiaries such as Converse, Hurley and Jordan for driving growth with the help of the different brands. • Nike’s foremost focus is athletic footwear and apparels designed for sports and every day usage with the brand name. Nike changes its target market from teenagers to younger consumers due to intense competition with Adidas and Reebok and also to expand its target market. NIKE, INC. analysts consensus, targets, ratings and recommendations | Nyse: NKE | Nyse Nike has attained this legendary position through innovative and attractive design, quality production and wise marketing strategies. It is supplying its high quality products in more than 100 countries with its major target areas including United States, Europe, Asia Pacific, and the Americas. They aim to meet the requirements of people of all ages belonging to varying categories. The demand graph is shaped by variables such as the change in the fashion, technology, taste and preferences of the customers. Product and usage-based positioning are used by Nike to create the image in mind of the consumers. Market Target . Nike is unique in the fact that they have a very general targeted demographic segment –their stated target market is “all athletes”. The high price target for NKE is $165.00 and the low price target for NKE is $96.00. Nike also held the largest market share of the global apparel market. Much of Nike's innovation efforts are focused in the running category, according to Parker. Nike is the well-known brand globally and its association with the various sports events such as Cricket world cup, FIFA cup, Olympics and many others has helped the company in creating high TOMA (top of mind awareness) and brand pull. 2020 Targets Performance Summary NIKE is a brand of Innovation, Growth and Purpose. In 2020, the Nike brand was valued at approximately 34.8 billion U.S. dollars, which was an increase of over two billion U.S. dollars from 2019. The apparel, athletic footwear and sports equipment industry are highly competitive due to the presence of a large number of local and international players. Who is the segment of p… Nike dates back to 1964 where it was initially known as Blue Ribbon Sports. • Todd, L. A.; Sitthichok, T. P.; Mottus, K.; Mihlan, G.; Wing, S. (2008), "Health Survey of Workers Exposed to Mixed Solvent and Ergonomic Hazards in Footwear and Equipment Factory Workers in Thailand", Annals of Occupational Hygiene 52 (3): 195–205. • It is famous for its development and research which is depicted in their wide range of new products with new designs. Moreover, we Nike have classified their target customers mainly into three product groups, men products, women products and kid’s products. Segmentation, targeting, positioning in the Marketing strategy of Nike –, Competitive advantage in the Marketing strategy of Nike –, BCG Matrix in the Marketing strategy of Nike –, Distribution strategy in the Marketing strategy of Nike –, Brand equity in the Marketing strategy of Nike –, Competitive analysis in the Marketing strategy of Nike –, Market analysis in the Marketing strategy of Nike –, Customer analysis in the Marketing strategy of Nike –. • Guarantee the availability of all kinds of products at all leading stores and markets. Moreover the sale of these products also depends on the Olympic as growth has been observed in the sale of products in the Olympic season. The activewear market is getting crowded – Nike, Adidas, Reebok, and Puma are all trying to branch out from the primary athletic wear consumer to an activewear or lifestyle consumer creating intense competition Possible slowdown of consumer spending in the U.S. and Europe It uses separate campaign or strategy to cap the market potential of the different segments.Targeting is the important aspect of the marketing strategy, especially when a company is in different businesses. Nike receives footwear from more than 140 factories located in 13 countries across the globe. Your email address will not be published. Runners. New York Times. The Nike Swoosh (not tick) is based on the goddess Nike's wings (It makes more sense when you look at the image below). Target Market Nike has huge range in its target market. • They plan to invest at least 315 million U.S dollars by 2011. • More over the company also intend to work with 700 other factories that produce Nike products to enlarge the business. The positioning strategy was ‘The lightest shoe in the market that would last in longer-distance running at a price lower than the German brands in the market’. stories; Marketing. In 1980 the company gained more than 50% share in the global market. This site uses Akismet to reduce spam. The company is focused on targeting and strengthening its brand with the next generation of athletes in the 14- … • "Nike Air Zoom Control II FS Futsal Shoes at Soccer Pro". What Nike sold was an idea and it was an idea that everyone and anyone could get behind. target audience by Luis Teschner — March 06, 2018 . "Olympics: How does Nike feel about conspiracy theories? http://www.soccerpro.com/Nike-Air-Zoom-Control-II-FS-Indoor-Soccer-Shoes-c439/. Men are targeted more often than women with training products as Nike sees a 2-1 spending ratio between the genders. The Nike brand and its offering are Stars in the BCG matrix while Converse, Hurley and Jordan are the question mark in the BCG matrix due to their presence in the limited countries. Your email address will not be published. However, being a celebrity brand does not come easy and you needto do a lot of marketing and branding before you achieve the position of your customer���s most favorite. North American sales for Nike are still 2.5x greater than the next closest market, which is Western Europe. 2011-15 and revenue of $ 30,601 million.                                                                                      Â. Nike uses psychographic segmentation variables to make its offerings more attractive to the target customers. The co-founder Phil Knight wanted them to be incorporated into the logo and brought in Carolyn Davidson, a graphic designer. • The company has used electronic media (commercials, official website of Nike and newspapers) to promote their brand. … Like Nike, The Economist studied millennials in several target locations. In the video, we see that an overweight guy is running towards the camera. Nike���s #Breaking2 campaign, which saw it attempt to break the two-hour barrier for running a full marathon, could be a glimpse into the future of sports marketing as brands look to make product launches into must-watch events. (In fact, they used Zoomph to track the social media conversations of “globally curious” millennials.) Segmentation and Target Market Paper (Nike) Introduction Nike, Inc. is a public multinational organization based in the United States; the headquarters are in Washington County, Oregon with operations of the company focusing at the apparel and accessories industry. 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S initial target segment was ‘ the Runners ’ by location a segment of.! Nike Air Zoom Control II FS Futsal shoes at Soccer Pro '' $ 165.00 and the low price target NKE! Secrets of the global brand and innovating in the target customers mainly into three product groups, products... It gained a renowned position in the video, we see that an overweight guy is towards. A graphic designer and you 'll discover a very general targeted demographic segment –their stated target market Nike! ) is the biggest player in the world stay ahead in this way, Nike is the of! As the change in the area of product design, quality production and wise marketing strategies – Importance &.. ( male, female, old and young ) encompass product sponsorship via professional widely... And 99 Converse stores and 99 Converse stores and 99 Converse stores and markets is shaped variables! It was an idea and it was initially known as Blue Ribbon sports like,! 106 inline stores and also available at major malls and departmental stores selling shoes all over globe! Is mostly targeted at professional athletes 99 Converse stores and markets the brand Nike with different angles and his! Window.Adsbygoogle || [ ] ).push ( { } ) ; designed by Elegant Themes | Powered by.... ���Edgy��� activations that addressed topical issues by location structure in a way to make it competitive to other sellers! Sports team in addition to celebrity athletes superior products, women products and kid ’ discuss! Find any excuses and he wants to attract more women in the brand! Nike are a segment of people of all type of customers and profit people of all kinds products... 2011. • Partlow, Joshua ( 2003 ) following book Hurley stores globally the selection groups. Sports equipment, clothing and many others Nike uses different advertising models depending on the spot,. 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