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Nike Company Description
Transcript of Nike Company Description
Nike Product Mix +
Target Market +
Nike SWOT Analysis +
Idea Generation +
Screening and Evaluating Ideas +
Test Marketing +
NIKE, Inc. is the world’s leading innovator in athletic footwear, apparel, equipment and accessories
Mission: To bring inspiration and innovation to every athlete in the world
Nike's product mix is based around high quality sports gear and equipment. The categories range from a variety of different sports. Nike products range from everything including basketball shoes to baseball helmets. Nike comes out with highly unique products for athletes and currently lead in the sports industry.
Primary: Nike’s products are in many local sports and shoe retail stores. Sports stores with Nike products include Sports Academy, Sports Authority, Hibbett Sports, Dicks Sporting Goods, etc. Shoe stores that usually have Nike products are Finish Line, Foot Locker, Champs, etc. Nike doesn’t only target Athletes there are also products that appeal to the regular everyday person.
Nike Sports Coats
Target market: gentlemen who engage outdoor activities such as golfing, walking, and etc.
Customer Needs and Wants: The sports coat will allow customers to feel comfortable and be stylish while living an active lifestyle.
Point of difference: It is where upscale sports coats meet affordability and the durability to maintain its quality throughout an active lifestyle.
Heart Rate Monitor on Finger
Target market: for athletes who want to measure their conditioning and effort.
Customer Needs and Wants: provides a mobile comfortable heart rate monitor for people checking their endurance and effort level.
Point of difference-it is smaller and more comfortable than the monitor worn across a persons chest.
target market: people traveling with sports equipment such as golf clubs,tennis equipment and etc.
Customer Needs and Wants: It is spacious stylish and is easy to move around even if there is heavy equipment.
Point of Difference: There really is no other product for traveler’s solely devoted to different sports equipment.
Nike Cooling Towel
Target Market: people who live an active lifestyle and workout often
Customer Needs and Wants- It will cool the customer down during physical activity.
Point of Difference- It will be more effective and convenient than wash towels.
I) A Nike energy drink fits great into Nike’s objectives because the energy drink is different to what Nike is traditionally known for yet it still reinforces Nikes main objectives of improving athletic performance and feeling good.
II) The market for a nike all natural energy drink could be large because of it’s loyal following however the market has a lot of competitors making it difficult.
III) Competition in the market would include Gatorade, Powerade, 5 hour energy, and etc.
IV) The fact that this product is new, outside of nike’s comfort zone and is in a market with competition does present a sizeable amount of risk.
V) This product is so far from what nike would normally produce it will have little to no effect on other product made by nike.
Nike Energy Drink
Screening and Evaluating Ideas +
I) Nike luggage would fit nike objectives perfectly because it would go along with nike being cool stylish and effectively transporting
II) There is a great potential for size because individual sports have their own travel equipment but nike luggage would be the first to have a matching set for a variety of sports.
III) Competition exist in each individual sports market but not for one company making matching luggage for all sports
IV) Though the product is not new it self it would be the first of its kind to bring different sports together.
V) These product might have a little impact on nike’s existing product because nike produces travel equipment for golf and tennis.
We Decided To Choose
Nike Energy Drink
target market: for athletes who want to hydrate their bodies and replenish electrolytes before and after physical activity.
Customer Needs and Wants: It will allow customers to prepare and rehydrate their bodies from the wear and tear of physical activity.
Point of difference: It is all natural drink that has special nutrients that focus on rehydrating the body and replenishing electrolytes for athletes.
Business Analysis +
This product will be productive in the marketplace because it differentiates itself enough from its competitors to be successful and grab some of the market share.
This product is not eligible for a patent so the formula will have to be protected in order to prevent similar “knock-off” drinks.
Secondary: Nike also sells their products on their online store and gets shipped straight to your house. They also have Nike outlets that contains a decent amount of Nike products in it. Nike’s customer profile is very broad reaching nearly every demographic from kids,adults,male, female, and etc. Nike is also one of the most well known companies around the globe selling merchandise everywhere from China , Europe and the U.S. Nike has become a staple for it is innovation and style when designing clothes for all kind of different Athletics.
External: Nike has many strengths in their company, but also weaknesses. They are known for being the most recognized company in sports wear and has created an image for themselves, like the nike swoosh and the motto “Just Do It’. Nike also sponsors big athletes like Michael Jordan, LeBron James, Derek Jeter, tiger Woods, and many more. Nike have contracts with over 700 shops globally in about 45 different countries. Every great company has a weakness. Nike’s main weakness is in the manufacturing category. The manufacturing process of Nike is one of the most important processes in the company.
We plan on test marketing the drink during the summer months in the cities of Los Angeles and Atlanta because of their warm climates ensuring a need for re-hydration and they both have very active communities
Internal: Technology is rapidly changing over time. Nike has pushed towards technology in the sense of creating the FuelBand and making it compatible with the Kinect on the Xbox and the Nike+ App put on Apple’s smart devices. Nike can come up with new technology products that reach out to a wide range of consumers. It is a great advantage for a company to ship overseas and start expanding their business internationally. Nike being a multinational corporation receives a risk with currency functions and how a massive change in foreign currency can affect the business.
By: Victoria Parker, Malcolm Woods, Marcus Craft
Pricing Strategy- Nike Charged will be priced slightly lower than it’s competitors in the market but ill eventually start to rise if demand for the product grows.
Place - This product has real potential to capture the health conscious side of the market because it is all natural unlike the main competitors with the large market share. In order to achieve this goal we decided to sell in health conscious and regular retail stores such as whole foods, sports authority, dicks, gas stations, and CVS. Based on Nike’s production facilities Nike charged will most likely be produced overseas.
Promotion - We chose Usain Bolt because he is a great athlete with a lot of confidence and he is the best at what he does. He captivated the world with his amazing speed and showmanship.