Nike
1.Executive Summary This marketing plan mainly describes Nike future development strategies and goals. This report will include the situation analysis, market-product focus, the detailed marketing programme and the financial data and projections.
In the coming year, Nike is going to launch a new product called Nike+ FuelBand, which will be marketed in Hong Kong in 2014. The Fuelband allows the wearer to track their physical activity, steps taken daily, and amount of calories burned. The information captured from the wristband is integrated into the Nike+ online community and phone application, allowing the wearer to set their own fitness goals, monitor their progression, and compare themselves to their peers.
This new product help Nike extend to the high-tech products' market from the clothing and shoes wear industry. These new steps of Nike enhances the brand image in comsumers’ mind and create an opportunity for a potential substantial growth in sales and revenue for years to come. Besides, the market share of the existing and the new market will also increase.
With the launch of the Nike+ FuelBand, substantial revenue is expected. In US, after the introduction of the Nike+ FuelBand, Nike Inc.'s Equipment division saw an 18% rise in profits for the 2012 fiscal year. Similar increase in profits is expected in Hong Kong for the coming years. Moreover, the launch of the FuelBand can boost the sales of the correlated products and hence, increase the profit of the company.
3. Strategic Focus and Plan
This section covers three aspects of corporate strategy that influence the marketing plan: (1) the mission, (2) goals, and (3) core competence/ sustainable competitive advantage of Nike+ FuelBand.
3.1 Mission
The mission of the Nike+ FuelBand is to encourage people to contribute more time and put more effort for their own sport life, so as the slogan of the FuelBand is lifeXsport. It aims to produce a perfect match on daily life and sport.
In the coming year, Nike is going to launch a new product called Nike+ FuelBand, which will be marketed in Hong Kong in 2014. The Fuelband allows the wearer to track their physical activity, steps taken daily, and amount of calories burned. The information captured from the wristband is integrated into the Nike+ online community and phone application, allowing the wearer to set their own fitness goals, monitor their progression, and compare themselves to their peers.
This new product help Nike extend to the high-tech products' market from the clothing and shoes wear industry. These new steps of Nike enhances the brand image in comsumers’ mind and create an opportunity for a potential substantial growth in sales and revenue for years to come. Besides, the market share of the existing and the new market will also increase.
With the launch of the Nike+ FuelBand, substantial revenue is expected. In US, after the introduction of the Nike+ FuelBand, Nike Inc.'s Equipment division saw an 18% rise in profits for the 2012 fiscal year. Similar increase in profits is expected in Hong Kong for the coming years. Moreover, the launch of the FuelBand can boost the sales of the correlated products and hence, increase the profit of the company.
3. Strategic Focus and Plan
This section covers three aspects of corporate strategy that influence the marketing plan: (1) the mission, (2) goals, and (3) core competence/ sustainable competitive advantage of Nike+ FuelBand.
3.1 Mission
The mission of the Nike+ FuelBand is to encourage people to contribute more time and put more effort for their own sport life, so as the slogan of the FuelBand is lifeXsport. It aims to produce a perfect match on daily life and sport.