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Nike Elite Socks

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Kevin Hurt

on 19 September 2013

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Transcript of Nike Elite Socks

Nike Elite Socks
Kevin Hurt and Matt Allen
Nike's Background
Nike was first known as Blue Ribbon Sports, which was founded in 1964 by Phillip Knight, a former Oregon track athlete
Blue Ribbon Sports first retail store came out in 1966
Eventually Knight changed his company's name to Nike in 1972
Nike Elite Sock's Background
Nike first started the Nike Elite socks in 2008, but the socks didn't really take off until 2010
Nike has created many different designs of the elite socks
Basketball Socks - The regular elites, the 2.0, Double Layered, Platinums, Hyper Elite, and the Sequalizers
Socks named after professionals - Lebron's, Kobe's, and KD's
Other Sports - Football, soccer, and running elite socks

Improving Nike Elite Socks
Create new designs
Put other designs into the Double Layed Socks - Add the 2.0, Platinums, Hyper Elite, and Sequalizers designs onto the double layered socks
Create other sport-specific socks - Soccer, baseball, tennis, volleyball, etc
Marketing Objectives
Increase sales of Nike socks by 15% with the new designs of the Nike Elite 3.0s
Make $1.5 million off the new 3.0 socks within 6 months
Sell socks for $16.00 a pair
Target Market
Athletic men
Ages 12 - 21
Marketing Strategies
Offer discounts off the socks on nike.com
Advertise by using catalogs.
Promo Code: JFKR24Y781
Expiration Date: 10/19/13

Promote the Nike Elite 3.0s through Eastbay catalogs
Nike Elite 3.0
Release the 3.0s on October 5th 2013
Have the 50% off promo code in play until October 19th
Advertise the 3.0s in Eastbay catalogs along with other apparel catalogs
Make $1.5 million by the beginning of April
Full transcript