Nike's Company: Customer and Competitor
EXECUTIVE SUMMARY
This report is going to be discussing about Nike`s Company, focusing on its shoes. The report begins with the overview of the company, including history, a brief discussing of customer and competitor.
The next part of the report will exploring how Nike creates and delivers value its targeting customer and capturing value from customer through the value delivery process and marketing mix which are product, price, place and promotion. This is achieved by understanding market place and customer needs and wants, designing marketing strategy to deliver value and after capturing value from customer. Nikes always provides high quality shoes with a reasonable price (Product – Price), sells its product in 200 countries in the easily accessible locations (Place) and uses celebrities and effective advertisements (Promotion).
Then the discussion continues on to the enlightenment of the two target market categories, named: Demographic and Psychographic segmentation. Under demographic segmentation, issues such as: gender, age and income are brought into discussion whereas the Psychographic segmentation explores issues such as life-style and personal values.
Finally, this report is concluded with a discussion about the four recommendations for marketing mix strategy to strengthen competitive advantage through added value for segments which are targeted by Nike.
Marketing is about satisfying consumers` needs and wants. The task of any business is to deliver value customer value at a profit. The value delivery process is one of the most important theories that need to understand in all marketing activities as it helps companies capture value from customers to create profits and customer equity. If the marketers do not aware customer satisfaction they cannot create and deliver value, as the customer perceives it, and customer can buy competitor product or services, In order to reach the goal of profit or to be successful, companies should provide
This report is going to be discussing about Nike`s Company, focusing on its shoes. The report begins with the overview of the company, including history, a brief discussing of customer and competitor.
The next part of the report will exploring how Nike creates and delivers value its targeting customer and capturing value from customer through the value delivery process and marketing mix which are product, price, place and promotion. This is achieved by understanding market place and customer needs and wants, designing marketing strategy to deliver value and after capturing value from customer. Nikes always provides high quality shoes with a reasonable price (Product – Price), sells its product in 200 countries in the easily accessible locations (Place) and uses celebrities and effective advertisements (Promotion).
Then the discussion continues on to the enlightenment of the two target market categories, named: Demographic and Psychographic segmentation. Under demographic segmentation, issues such as: gender, age and income are brought into discussion whereas the Psychographic segmentation explores issues such as life-style and personal values.
Finally, this report is concluded with a discussion about the four recommendations for marketing mix strategy to strengthen competitive advantage through added value for segments which are targeted by Nike.
Marketing is about satisfying consumers` needs and wants. The task of any business is to deliver value customer value at a profit. The value delivery process is one of the most important theories that need to understand in all marketing activities as it helps companies capture value from customers to create profits and customer equity. If the marketers do not aware customer satisfaction they cannot create and deliver value, as the customer perceives it, and customer can buy competitor product or services, In order to reach the goal of profit or to be successful, companies should provide
References: 1. Bloomberg Businessweek, 2008, Delivering Value to your customer.Retrieved date 03.08.2012 http://www.businessweek.com/smallbiz/tips/archives/2008/05/delivering_value_to_your_customer.html 2 5. Ledden, L., & Kalafatis, S.P. (2010). ‘The Impact of Time on Perceptions of Educational Value’. International Journal of Public Sector Management, Vol. 23 Iss: 2 6 7. Macworld, 2006, Nike and Apple partner for new product Retrived date : 01.12.2012 http://www.macworld.com/article/1050989/applenike.html>. 8. Marketingmixx, 2011.Marketing mix .Retrieved date 05.12.2012. http://marketingmixx.com/marketing-plan-2/164-marketing-plan-of-nike.html. (Source: Ledden and Kalafatis 2010) Appendix 3 (Source: Ledden and Kalafatis 2010) Appendix 4