Nike's advertising and marketing strategy rested completely upon a brand image which is beneficial and has evolved into an incredible multinational enterprise over time. The beneficial model image has been stored afloat because of the robust association with the Nike's logo which is sort of distinctive and the slogan ?Just Do It? which has been utilized in advertisement for quite a while. The company has been identified to invest heavily in ads and model promotion (Fill C, 2005 p.54).
A lot of the customers of Nike's merchandise are mainly sportsmen. That is so due to the utility that comes with the merchandise. An athlete is more prone to go a sports activities shoe designed and marketed by Nike greater than a person who detests sporting and workouts. Nike targets these consumers by agreements between Nike and athletic teams, college's athletic teams1 and so on for product sponsorship and eventual promotion to the members of these groups. In this manner, Nike is ready to reach a wide number of customers and consumers who usually tend to buy. Though others are probably to purchase the products, Nike pays specific emphatic concentrating on to the athlete more than any group of people regardless that it additionally targets the youth who have embraced the hip hop tradition (Mercer David, 1996, pp 171).
Focusing on methods
Nike lays a number of strategies to focus on their fast shoppers; athletes and other sportsmen. The concentrating on methods embody among others the sponsorship of products by professional athletic groups, celebrity athletes and college athletic teams. This strategy is particularly profitable because of its ability to achieve numerous athletes. If the athletic workforce manager prescribes a specific kind of observe shoes made by Nike, the trainees have no possibility other than to purchase them. The groups can as effectively buy the track footwear in cumbersome and provide them to the crew members.
The second technique that Nike applies is the designing of product vacation spot. It does this by associating success with the product. For example, when a celeb athlete sponsors a particular model of athletic sneakers, the brand shall be associated with success. This psychological impact is bolstered with ads that affirm this place.
Lastly, Nike targets the shoppers who are more likely to develop product intimacy; those that care more concerning the utility and high quality of the product than the worth. On this method, the pricing is not affected too much in a bid to accommodate a large number of customers. Nonetheless, worth has additionally been factored in Nikes marketing methods as shall be seen later on this paper (Frank, 2004, p.173)
As acknowledged in the foregoing part, Nike targets the customers who embrace product intimacy and thus care much less concerning the product. This has allows Nike to set relatively larger prices than its opponents. It is a strategy that calls for higher pricing factors in order to push the perceived product worth. It has been established that consumers who consider a product to be of top quality are prone to pay the excessive worth extra usually and consistently. As soon as shoppers develop product intimacy, they come to affiliate their person with the product and pays no matter worth quoted on the product supplied it has the Nike emblem on it.
Another essential factor to note is the truth that Nike uses the vertical integration pricing technique by which they take possession of the participants at channel ranges that differ and they also interact in multifarious channel stage operations each in a bid to regulate costs and thus affect pricing perform (Goldman S, 2000, pp154)
Distribution strategies embraced by a company can either give them an edge in market or make them lag behind the winners in the market. The more efficient the product distribution is the more sales and thus more earnings. The delivery of the right product and at the proper time to the buyer not solely results utility but additionally leads to excessive diploma of shopper satisfaction and loyalty. Nike distributes its products on