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Marketing Plan: Nike Inc. "Running Shoes"

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by

Adriana Zaragoza

on 3 December 2013

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Transcript of Marketing Plan: Nike Inc. "Running Shoes"

Marketing Plan: Nike Inc. "Running Shoes"
Group A:
Adriana Diaz, Magna Galindo, Jehrica Marini, Deliah Youmara
MKT 4490: Dr. Chronis

External Environment
Economic
Unstable global economy

Slow recovery from the recession

In a study of 1,506 adults 54% said their household income has “hardly recovered at all” from the recession

52% said their job situation has “barely recovered”

Consumer Confidence Index

Consumer spending drives 70 percent of economic activity

The Conference Board reported that its index of consumer confidence dropped from 72.4 to 70.4 in October

In 2013, the United States unemployment rate dropped from 7.9 in January to 7.3 percent in October


Unemployment Rate

Technological Environment
Machines - New Weaving Process:
Production times decrease
Decrease in labor costs
Reduces 80% of footwear waste




High Tech Sortation Equipment

Increases: Reduces:
- Operational efficiency - Handling costs
- Shipping flexibility - Energy consumption
- Accuracy - Environmental impact



Technological Environment

Nike+ iPod Sensor
Tracks your running data
Nike Sport Music content


Innovation at NIKE

Politics and Legal
External Vs. Government

Government Trade Policy
Sweatshops

Outsourcing
Sociocultural Environment








Style of Shoes:
Different colors
sold in stores

Customize with NIKEiD


Nutritional Habits:
Healthier Lifestyle
Nike Flyknit & Nike+

Industry Analysis
Market Structure

Sponsor Professional Athlete

Promote Sustainability

Enhance Customer Confidence

Retailers
Harlem, NY 2007
Basketball Experience

Special Player Edition

Limited Color Edition

Competitive Analysis
Located in Germany

Market Penetration

Lack of Resources
England, UK (1895)

A subsidiary company

"Freestyle Shoes"

Challenges with
price elasticity
Multinational Corporation
-Societas Europaea

Located in Germany (1924)

Brand Recognition

Low financial resources

SWOT Analysis
Number one ranking in the industry
A very professionally competitive organization
Great marketing skills
Powerful global brand
Superior product quality
Strong at research and development
Versatile in product offerings
No ownership of physical factories
Lower costs


STRENGTHS

Bad reputation
Seen as exploitative and greedy
Accusations of bad overseas work conditions and pay

Profits are mostly dependent on footwear products

WEAKNESSES

Product development & new technology
Economically friendly
Economy boosting projects
Changing customer needs/tastes
Demographic shifts
Expansion into Nike accessories
Expansion into more foreign markets
Reducing controversy concerning their trade and production practices

OPPORTUNITIES

Currency risk exposure
Very competitive market
Price competitive retail sector
Consumer price sensitivity
Declining consumer confidence
Managing financial conditions in today’s economy


THREATS

Consumer Analysis
Marketing Objective
Increase Nike's Running Shoes Sales by 3 % for 2014 Revenues
How?
Innovation
Marketing Strategy & Tactics
Core Strategy
Target Market
"START HERE"with NIKE
Marketing Mix

-Same brand and logo

-Gold shoe and packaging

-New form of technology that helps runner work out more
muscles, more intensely

-Will not look like a weight loss shoe

Price Skimming
Introduce product at a high price
Recovers high research and development and marketing expenses


Place
"Diversity drives innovation"
-Distribution Channels

-Product Availability
Promotion
Advertising

Sales Promotion

Media Planning
Financial Documents
Profit and Loss Statement

Questions?
Product
:
Price
Budget
Full transcript