StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Develop a marketing plan - Assignment Example

Cite this document
Summary
The market plan for Nike has been triggered by the need to get closer to the consumers and reduce the risks involved in depending on sportspersons to market their product. Getting close to its consumers will enable them take advantage of the worlds greatest promising marketers…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER92.1% of users find it useful
Develop a marketing plan
Read Text Preview

Extract of sample "Develop a marketing plan"

Corse: NIKE’s market plan Executive Summary The market plan for Nike has been triggered by the need to get closer to the consumersand reduce the risks involved in depending on sportspersons to market their product. Getting close to its consumers will enable them take advantage of the worlds greatest promising marketers such as online communities which is relatively effective than TV. Additionally, the company also wants to the home of digital sport, a division that was started four years ago (Cendrowski, n.pg). Developing devices that technologically help individuals track their performance in the sport they participate in.

The company also expects to reach more consumers as well as tremendously diverse ideas via social media. Going online is a part of their mission to shift from traditional marketing into digital realm. Marketing Program StrategyCompany DescriptionNike is American multinational organization that was started in 1957 by Bill Bowerman and Phil Knight. The company designs, develops, manufactures, marketing and sells goods and services such as footwear, equipment, apparel and accessories all over the world.

Twenty years down the line, Nike has joined the top companies in the footwear market. This was not as a result on TV advertisement but from positive appraisals by athletes they sponsor (Cendrowski, n.pg). For instance, the company made approximately 919.80 million dollars after Olympic players was seen wearing Nike in 1984 Olympics. The company’s mission is to innovate and inspire athletes in the world every day. Besides maximizing its profits the company also focuses on establishing environments that offer a platform for consumers to contribute into the company.

Moreover, the company wants to build strong emotional ties with its consumers.The Target MarketThe company’s target market is an active online 17-year-old user who is likely to spend 20% more to buy shoes in comparison to his adult counterparts. This is based on the fact that a significant population of young men has given up television to online communities. The company also targets over 5 million runners and other athletes to use their digital devices in determining their performance (Cendrowski, n.pg). Marketing Program TacticsProduct strategy: currently Nike offers several apparel, equipment and accessories online such as the Nike+ running sensor, a performance-tracking tool.

Nike+ running sensor has enabled over 5 million runners to check their performances. The company plans to include its new sport device, fuel band, which is able to track the energy output of its users (Cendrowski, n.pg). Price strategy: the current prices are either influenced by the competition or other forces in the market. With the new focus of being a customer-oriented organization the value of the product and customer satisfaction will be the main determinant in pricing of the product (Cendrowski, n.pg). 149 dollars for a device that can measures movement as well as calculates its users energy levels the enter day is relatively reasonable considering the technology complexity.

Place strategy: Nike products are and have been marketed in major events such as the World Cup, Car Raising and Olympics. However, since Nike decided to go digital it has made online platform its major preferred marketing strategy (Cendrowski, n.pg). For instance, after 2010 world cup, Nike marked its campaigns by launching the Nike Footballs Facebook page which in turn gathered 8 million viewers within a week as compared to its competitor who spent months to cultivate a base of only 1 million fans.

Promotion strategy: Nike has over the years relied on the WOM and BUZZ marketing strategy to communicated to customers as well as promote its products. This is where the company has to sponsor a specific sportsperson like Tiger Woods or sometimes produce a new product under a sportsman’s name such as Nike Air Jordan sneakers (Cendrowski, n.pg). However, non-traditional marketing strategies such as online marketing will enable them make follow ups on their product, build a Nike online community that will in turn strengthen their customer- producer relationship.

Additionally, an online store has enabled customers to post designs of the products they would like to purchase such as shoes.Conclusion The new marketing strategy provides ideal digital campaigns which in turn communicates the bland image, creates a platform for intimate conversations with customers and acts as a laboratory through which the company can study consumers’ behaviors and patterns. Analysis has it that Nike company membership have grown to 55% as a result of digital campaigns. This has led to a 30% increase in sales which amounts into 2.

8 billion dollars. The company also expects to hit 200 million views daily as compared to 200 million that are estimated to turn TV everyday when a major event is aired. Work citedCendrowski scott. Nikes new marketing mojo. How the legendary brand blew up its single-slogan approach and drafted a new playbook for the digital era. 2012. Web. 6 May 2014.

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Develop a marketing plan Assignment Example | Topics and Well Written Essays - 500 words”, n.d.)
Develop a marketing plan Assignment Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/marketing/1645018-develop-a-marketing-plan
(Develop a Marketing Plan Assignment Example | Topics and Well Written Essays - 500 Words)
Develop a Marketing Plan Assignment Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/marketing/1645018-develop-a-marketing-plan.
“Develop a Marketing Plan Assignment Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/marketing/1645018-develop-a-marketing-plan.
  • Cited: 0 times

CHECK THESE SAMPLES OF Develop a marketing plan

To develop a marketing Plan for expanding a product or service into a new market (Wal-Mart)

The report is designed to create a marketing plan for the Wal-Mart for expanding its retail chain in the promising market of UAE.... Wal-Mart always looks for the opportunity to expand its operation in to new emerging markets because it has a very strong financial background and have smart strategic and marketing planners.... The cost conscious behavior of the UAE population will give a great advantage to Wal-Mart to develop its market....
14 Pages (3500 words) Assignment

Consumer Behaviour of The Alternative Company

Although food is generally classified a physiological need, The Alternative will design a marketing mix which will not only project its product offering as a way to satisfy this lowest necessity but also the higher ones specifically love and belongingness as well as esteem needs....
8 Pages (2000 words) Essay

The World of Business

hat little exercise taught me the rudiments of marketing and communication.... The paper entitled 'The World of Business' focuses on the business which was and how one went about it, the author was selling the artwork to make a little extra cash on the side.... The little career interest led to falling in love with the concept of business....
1 Pages (250 words) Essay

Marketing a Blackberry Phone

The researchers are going to develop a marketing plan for a new blackberry phone.... n this report, we are going to develop a marketing plan for a new blackberry phone.... Creating a marketing plan For Your Business.... How to Write a marketing plan.... The marketing plan will include such strategies, which will play their role in creating awareness among the public about the new and exciting features provided by the company in its new Blackberry product....
2 Pages (500 words) Essay

Marketing Plan

In order to develop a marketing plan for the product, it is important to be market oriented as this enlightens the… The product strategy for this organization aims to attain consumer preference for pet therapy.... In order to develop a marketing plan for the product, it is important to be market oriented as this enlightens the marketing team about the market situations.... Since consumers cannot be coerced to reveal their preferences, it is important for the marketing team to convince consumers that their services marketing plan marketing plan Marketing is very essential because it involves market penetration, which ensures that consumers are aware of the product or service being offered by a company....
1 Pages (250 words) Assignment

Marketing Proposal

2 Pages (500 words) Assignment

Proposal for Developing a Marketing Plan

In order to revive these activities, it is vital to develop a marketing plan.... The aim of this plan "Proposal for Developing a marketing plan" discusses the aim of helping CA Technologies achieve a number of its goals and objectives through the creation of an effective marketing plan.... The second phase, which is the main phase, is the development of a marketing plan and the third phase is the implementation of the plan.... The marketing plan that will be developed for CA Technologies will provide a platform for continuous self-evaluation....
8 Pages (2000 words) Business Plan

Marketing Requirements and Needs of the Organization

The creation of a marketing plan should be made specifically for an organization and not be emulated from an already created plan. ... ts benefits are based on that an organization… In addition, a marketing plan creates a working framework that can be easily implemented.... The creation of a marketing plan should be made specifically for an organization and not be emulated from an already created plan.... In addition, a marketing plan creates a working framework that can be easily implemented....
1 Pages (250 words) Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us