Nike Golf Marketing Strategies Essay Example
Executive Summary
NIKE, Inc. designs, develops, and markets footwear, apparel, equipment, and accessory products for men, women, and children worldwide. This marketing plan focuses on NIKE Golf and our market segments and the strategies we are using to gain more Hispanic customers and create consistent revenue growth in this area. Our specific focus on marketing NIKE Golf to the Hispanic community comes from the fast-growing buying power of Hispanics. Our marketing plan will meet those growing demands and give us a bigger advantage over our competitors because we will be targeting and educating the Hispanic population on the importance of golfing with NIKE products, alongside the advertising revenue that Tiger Woods already brings to the company. This marketing plan stands to reach even those Hispanics who are not normally interested in golf, redirecting their disposable income toward engaging in more leisure golf time. The funding of our marketing strategies will come from our marketing budget allocated for new marketing strategies in 2011.
Target Market
The US Hispanic market size is about 43 million people, with a buying power of $750 billion. They are the fastest growing minority and they account for 15% of the total US population. According to the National Golf Foundation, 5.4% of Hispanic-Americans actually participate in golf, compared to 14.5% of Whites that participate in golf. The largest group of Hispanic-American golfers is between the ages of 18 and 29; therefore this is our main target market.
Competitors
Callaway Golf is a market leader in almost every golf equipment category. In contrast to our marketing strategy, Callaway focuses more on brand loyalty and the introduction of innovative technologies. About three percent of its annual sales are spent on product design and development.
TaylorMade-adidas Golf is steadily increasing its North American golf product sales – specifically the production and sale of metal woods. This company makes
NIKE, Inc. designs, develops, and markets footwear, apparel, equipment, and accessory products for men, women, and children worldwide. This marketing plan focuses on NIKE Golf and our market segments and the strategies we are using to gain more Hispanic customers and create consistent revenue growth in this area. Our specific focus on marketing NIKE Golf to the Hispanic community comes from the fast-growing buying power of Hispanics. Our marketing plan will meet those growing demands and give us a bigger advantage over our competitors because we will be targeting and educating the Hispanic population on the importance of golfing with NIKE products, alongside the advertising revenue that Tiger Woods already brings to the company. This marketing plan stands to reach even those Hispanics who are not normally interested in golf, redirecting their disposable income toward engaging in more leisure golf time. The funding of our marketing strategies will come from our marketing budget allocated for new marketing strategies in 2011.
Target Market
The US Hispanic market size is about 43 million people, with a buying power of $750 billion. They are the fastest growing minority and they account for 15% of the total US population. According to the National Golf Foundation, 5.4% of Hispanic-Americans actually participate in golf, compared to 14.5% of Whites that participate in golf. The largest group of Hispanic-American golfers is between the ages of 18 and 29; therefore this is our main target market.
Competitors
Callaway Golf is a market leader in almost every golf equipment category. In contrast to our marketing strategy, Callaway focuses more on brand loyalty and the introduction of innovative technologies. About three percent of its annual sales are spent on product design and development.
TaylorMade-adidas Golf is steadily increasing its North American golf product sales – specifically the production and sale of metal woods. This company makes