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Essay / Nike Analysis - 643
The marketing mix is a business tool used in marketing and by marketers. It is often associated with the four Ps of price, product, place and promotion. As we know, promotion is one of the four Ps. What do we understand about promotion? Promotion refers to all the communication methods that a marketer can use to provide information to different parties about the product. In addition, promotion includes elements such as advertising, public relations, sales organization and sales promotion. Apart from this, promotion is also known as communication. We cannot deny that promotion decisions are those related to communication and selling to potential consumers. After a long discussion among all our group members, we would like to select an existing product which is Nike (Sport Wear) to make a marketing situation analysis report. One of Nike's promotional tools is sponsorship. According to the Internet, in 1969, the company's founders (Bill Bowerman and Phil Knight) chose a young athlete named Steve Prefontaine to wear their Nike shoes. Additionally, Nike has signed sponsorship deals with top athletes in many professional sports to further promote their products. Apart from this, Nike is also known through sponsorship deals with some of the most famous football clubs in the world. In addition, Nike also sponsors the cycling racers of Discovery Cannel, the Indian cricket team. Nike also sponsors various minor events, including Hoop It Up (high school basketball) and the Golden West Invitational (high school track and field). The next promotional tool is the advertising campaign. Over the years, Nike has produced many successful advertising campaigns thanks to the hard work of its many agencies. Most successful advertising...... middle of paper ...... it customers for hours every day. The final goals are to increase sales volume and customer loyalty to Nike products. The positioning statement is a marketing strategy that aims to enable a proposing company to gain a distinct and competitive “position” relative to the competition. Nike's positioning statement is to bring inspiration and innovation to all athletes around the world. Nike's promotional strategy primarily involves sponsoring professional athletes, colleges, and professional teams. This is a large industry with significant earning potential. To better satisfy customers' needs for Nike products, Nike introduced Nikeid, which means one can go to the Nike website and select the product of their choice and then customize it according to their own preferences. This is a great promotional strategy to reach and please everyone around the world..