Tuesday, January 14, 2020
Marketing and Nike Essay
Q. N. 1: What have been the key success factors for Nike? Ans. The key success factors for Nike are their exciting marketing strategy, product innovation and staying to the mission which is Ã¢â¬Å"To bring, inspiration and innovation to every athlete in the world.Ã¢â¬ These are as follows: * Nike established a strong brand name through designing innovative footwear for serious athletes. * NikeÃ¢â¬â¢s management has found most significant celebrity support: the right collaboration between celebrity and product. * Nike stayed focused on being an authentic sports and fitness company serving the athlete and sports minded people. * NikeÃ¢â¬â¢s campaign even featured an 80 year old long distance runner with the slogan Ã¢â¬Å"Just Do ItÃ¢â¬ that placed the emphasis on self-empowerment through sports and fitness for all ages. * Making corrections and change of the American style ads in Europe also a key factor for success. Q. N. 2: Where is the Nike vulnerable? What should they watch out for? Ans. Vulnerable points of Nike as well as its solution are as below: * There is one fact, when using celebrity endorsements Nike advertisers need to keep in mind that is to never let the celebrity become your brand. If so, the company will run the risk of killing the brand as soon as celebrity becomes faded. * Selecting a spokesperson whose characteristics are congruent with the brand image. * Nike deals with only one product line that it footwear. In this circumstance, it should watch out for diversification of the products to increase the maker share. Q. N. 3: What recommendations would you make to their senior marketing executives going forward? Ans. For going forward senior marketing executives of Nike can follow the recommendations as below: * Find the right collaboration between celebrity and product. * Promote prospective display that is going global and evaluate current position rate. * Watch out for diversification of product line. * Collecting feedback from customers about the products quality * Customize the advertisement for the customer of different culture in different region. Q. N. 4: What should they be sure to do with their marketing? Ans. They be sure to manage their marketing system in a proper way that it is satisfying the customer needs and wants keeping pace with the time. They can give importance to the following topics: * Be sure that your product performance quality is ok as you advertise. * Ensure innovation on designing the product. * Collect ideas from customers to improve the product * Make aware the customer about the continuous improvement * Establish Customer Relationship Management.
Posted by Marley See at 11:37 PM