Marketing Plan, Phase Ii
Marketing Plan, Phase II
James Dawson, Aisha Kee Newman, Patrick Whitaker, Sheila Whitley
Marketing MKT/421 University of Phoenix
January 20, 2011
Professor: Cecilia Kelly
The global recession has changed the buying behavior of people around the world. Understanding and meeting the needs of the customer better than the competition is the most important aspect of marketing. For a company like Nike to achieve this goal, it must first identify its target market. The best way to define the target market is through segmentation.
In this paper Team A will identify the segmentation criteria that will affect the market selection for the Stress Force and identify the Stress Force target market. Describe the organizational buyers and consumers of Stress Force and the factors that influence consumer purchasing power and how these factors affect Nike’s marketing strategies. Finally Team A will analyze Nike’s competitors and define the competitive setting for the Stress Force.
Market segmentation is the “dividing of a large, heterogeneous market into more homogenous groups of people who have similar interests or desires, have similar demographic characteristics or profiles or behave in similar fashion” (Dr. Sutton, 2010). No one product can satisfy every consumer, all of the time, it’s usually safer to be a segmented that is, to try to satisfy some customers very well instead of many just fairly well (Perrault et.al, p. 95, Para. 3, 2009). Team A believes the following segmentation criteria will affect the target market selection for Stress Force: geographic, demographic, and behavioral characteristics.
Nike is a global company and the recession has directly or indirectly affected the entire world. As a result, a large portion of Nike exists and potential customers are impacted. Therefore, geographic segmentation by region, population, and population density (urban, suburban and rural) can affect the target market selection. In addition,
James Dawson, Aisha Kee Newman, Patrick Whitaker, Sheila Whitley
Marketing MKT/421 University of Phoenix
January 20, 2011
Professor: Cecilia Kelly
The global recession has changed the buying behavior of people around the world. Understanding and meeting the needs of the customer better than the competition is the most important aspect of marketing. For a company like Nike to achieve this goal, it must first identify its target market. The best way to define the target market is through segmentation.
In this paper Team A will identify the segmentation criteria that will affect the market selection for the Stress Force and identify the Stress Force target market. Describe the organizational buyers and consumers of Stress Force and the factors that influence consumer purchasing power and how these factors affect Nike’s marketing strategies. Finally Team A will analyze Nike’s competitors and define the competitive setting for the Stress Force.
Market segmentation is the “dividing of a large, heterogeneous market into more homogenous groups of people who have similar interests or desires, have similar demographic characteristics or profiles or behave in similar fashion” (Dr. Sutton, 2010). No one product can satisfy every consumer, all of the time, it’s usually safer to be a segmented that is, to try to satisfy some customers very well instead of many just fairly well (Perrault et.al, p. 95, Para. 3, 2009). Team A believes the following segmentation criteria will affect the target market selection for Stress Force: geographic, demographic, and behavioral characteristics.
Nike is a global company and the recession has directly or indirectly affected the entire world. As a result, a large portion of Nike exists and potential customers are impacted. Therefore, geographic segmentation by region, population, and population density (urban, suburban and rural) can affect the target market selection. In addition,
References: Perreault, W. D., Cannon, J. P., & McCarthy, E. J. Jr. (2009). Basic marketing: A marketing strategy planning approach (17th Ed.). New York, NY: McGraw Hill. Sutton, (2010). Segmentation and consumer behavior, Slide 2. Retrieved January 17, 2011 www.bus.ucf.edu/.../ Segmentation Market Segmentation (2011). Retrieved January 17, 2011 from http://www.businessteacher.org.uk/markets/market-segmentation/ Nikebiz, Company Overview. Retrieved January 18, 2011, from http://www.nikebiz.com/company_overview/ www.puma.com www.Kswiss.com