Marketing Principles
INTRODUCTION
Marketing is the activity/set of institutions and process of creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. (American Marketing Association) OR
Marketing is the management process responsible for identifying, anticipating and satisfying customers’ requirements profitably. (Chartered Institute of Management)
The following are the importance of marketing: * Promote product awareness to the public * Healthy competition * Boosts product sales * Builds company reputation
Task 1 1.1 Select any brand/company and explain how it is being marketed? 1.2 Find out the benefits and costs of marketing orientation for that organization
Brand/company- Nike, Inc.
Nike is the world’s renowned and leading supplier of athletic shoes and apparels. It controls more than 49% of athletic shoe market with sale of 3.7 Billion US Dollar. It was found in 1962 and has attained this legendary position through innovation and attractive designs, quality production and wise marketing strategies. It has huge range of different products in its target market of specific group of people. Nike aim to meet the requirements of people of all ages belonging to varying categories profitably.
1.1 Explain how it is being marketed?
Nike markets its products through various ways of Promotions. The following are the different promotion techniques used by Nike to promote/market its products: i. Advertising
Nike’s legend with television commercials dates back to 1982 with the first advertisement broadcast during the New York Marathon. Nike’s advertisements are very appealing and leave a long lasting imprint in the customers’ minds. The company also has used electronic media (official website of Nike and newspapers) to promote their brand. ii. Public Relation
This is an entity that focuses on brand building as well as defending. Nike has recently employed
Marketing is the activity/set of institutions and process of creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large. (American Marketing Association) OR
Marketing is the management process responsible for identifying, anticipating and satisfying customers’ requirements profitably. (Chartered Institute of Management)
The following are the importance of marketing: * Promote product awareness to the public * Healthy competition * Boosts product sales * Builds company reputation
Task 1 1.1 Select any brand/company and explain how it is being marketed? 1.2 Find out the benefits and costs of marketing orientation for that organization
Brand/company- Nike, Inc.
Nike is the world’s renowned and leading supplier of athletic shoes and apparels. It controls more than 49% of athletic shoe market with sale of 3.7 Billion US Dollar. It was found in 1962 and has attained this legendary position through innovation and attractive designs, quality production and wise marketing strategies. It has huge range of different products in its target market of specific group of people. Nike aim to meet the requirements of people of all ages belonging to varying categories profitably.
1.1 Explain how it is being marketed?
Nike markets its products through various ways of Promotions. The following are the different promotion techniques used by Nike to promote/market its products: i. Advertising
Nike’s legend with television commercials dates back to 1982 with the first advertisement broadcast during the New York Marathon. Nike’s advertisements are very appealing and leave a long lasting imprint in the customers’ minds. The company also has used electronic media (official website of Nike and newspapers) to promote their brand. ii. Public Relation
This is an entity that focuses on brand building as well as defending. Nike has recently employed