Nike Marketing Plan

Overall Objective

The main goals that the company aims is to be leading manufacturer of sports goods and apparels by penetration the Japanese manufactured brand in United States specifically and around the globe generally.

Strategic Objectives for Every Primary Objective

• Provision of bets quality and balanced priced shoes range to the customers around the world with a special focus on America.

• Making the product availability possible in all possible marketable stations.

• To focus all types of customer’s including old aged, Young men and women and children as well.

• Attainment of sustainability in product innovation and novelty to assure the existence of the company along many generations.

Target Market Segments

The company is targeting the groups of customers separately; as the target market of the company is huge. The company targets at fulfilling the peoples expectations that are belonging to different age groups. The separate focus on different groups makes it possible for the company to generate maximum revenues.

Nike Marketing Mix

Product

• The main categories of the products offered by the company include apparels and athletic footwear.

• The sports categories in which the company is excelling includes Basketball, Tennis, Running, Cross-training, Outdoor activities, Aquatic activities, recreational use, Golf, Football, cheerleading, Volley ball, Bicycling, wrestling, Soccer and Baseball.

• The innovative sports products of the company include timepieces, bats, sport balls, skates and eyewear etc.

Price

• Variable product pricing range mostly between 75 to 150 dollars, depending upon the article being purchased.

• The competitive pricing strategy is being followed by the company.

Place

• More than 100 countries are targeted by the company.

• The major selling stations are based in America, Asia pacific and Europe with almost 20,000 retailers in America.

• Beside company owned stores, different malls showcase the Nuke products.

• They have more than 20,000 retailers in United States and also in other 200 countries.

Promotion

• The official website of the company serves for its promotion.

• The company’s major promotional source is electronic media.

• Famous athletes like Ronaldo are serving as the brand ambassador of the company adding to it promotional activity.

Main strategies

1. Market Penetration

The market penetration is strategically designed through global expansion and making the availability of its innovative product possible worldwide. The market penetration is done by maximizing the product range at the selling points of either the company or the retailers.

2. Market Development

The company initially was supplier for the Japanese entrepreneur. Major shares of the market were earned in the 1980’s. The product range successively increased to address maximum customers. The development led to that extent that company has been owning the huge revenue of more than $20 billion.

3. Diversification Strategy

[large]The product line that is owned by Nike is a true representation of controlled diversification strategy. The control here refers to the generation of maximum revenues up to 70 % from the major product line, business shares and business and technological linkages.

Monitoring and Control

The monitoring and control of the company is driven in to the hand of NGO’s that claim to maintain the company’s monitoring and control properly. Reports are generated accordingly at te end of each monitoring and control session.

Budget

• The community stores has been the one of the sink of company’s budget and received up to $1 billion for the successive years.

• The investment planned for the fiscal year 2011 is $315.

• They plan to invest at least 315 million U.S dollars by 2011.

• Another budget sink would be dealings with 700 factories to extend the production capacity of the company.

References

• Official website. Nike.com. Retrieved on August 17, 2011.
• Sage, Alexandria (June 26, 2008). “Nike profit up but shares tumble on U.S. concerns”. Reuters.
• “Nike launches cricket shoe Air Zoom Yorker”.( September 2, 2006). The Hindu Business Line.
• Brettman, Allan (June 22, 2011). “Nike courts controversy, publicity with drug-themed skater shirts”. The Oregonian.
• Nikebiz: Company Overview: History: 1960s, Nike, Inc., Retrieved on August, 2011.
• “Kasky v. Nike: Just the Facts”. Reclaim Democracy.org.
• http://www.articlealley.com/article_1585263_15.html: Marketing strategy of Nike, Retrieved on August 17, 2011