M7

.docx

School

Excelsior University *

*We aren’t endorsed by this school

Course

506

Subject

Marketing

Date

Feb 20, 2024

Type

docx

Pages

13

Uploaded by ConstableBeeMaster310

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1 Excelsior University M7.5– Consumer Brand Marketing Plan December 10, 2023
2 Introduce to the reader what this paper is about. You are reminding the reader about your paper’s topic. In this first paragraph you must mention the brand name. Some of this material is the same as Week Three’s proposal. Adopt the recommended improvements provided to you in Week Three. You may re-use this information if you received 100% on your proposal. But your overall Turnitin Score for your Week Seven final paper must be under 25% - in other words you must add enough NEW material in your words that will satisfy the Turnitin system. Consumer Brand Selected Nike was founded in 1964 by Phil Knight and Bill Bowerman, and it is an internationally recognized brand in the sprots and apparel industry (Uță, 2023). Nike has a wide range of products. These products include athletic footwear, apparel, equipment, and different athletic and lifestyle accessories. Nike aims to bring innovation to every athlete, and this is regardless of the skill level of the athlete. Nike/Jordan Brand is a collaboration between Nike and Michael Jordan. It was established in 1984 with the release of the first Air Jordan sneaker (Kunkel, 2023). The brand's main focus is on basketball shoes and apparel, but it has also expanded to other sports and lifestyle products. The 4 P’s of Brand Describe your choice around your selected brand. Do you own this product, why did you choose it? Describe your choice around your selected brand. Do you own this product, why did you choose it? Product The Air Jordan line is a focus of Nike’s long list of products. They make shoes for many different sports activities. They continuously innovate the Jordan line of shoes based on new
3 technology and consumer buying trends. While also rereleasing (“retroing”) shoes from the past that have a significant historical background in the sports and sneaker communities. Nike and Jordan brand are in the maturity stage of the product life cycle. This leads them to focus on product differentiation and continuous improvement. I chose this product because I have owned numerous pairs of Jordans. I like the style of the shoes and the history behind them. Buying a pair takes me back to my childhood, and this is a way that Jordan Brand capitalizes on the emotions of their customers. Place Jordan Brand products are available through various distribution channels, including Nike-owned retail stores, third-party retailers, and online platforms. Three popular places where Jordan shoes are sold include Foot Locker, Finish Line, and JD Sports. These retailers can be found all over the world, and they also all have an online presence. Price The pricing of Jordan shoes varies depending on the specific model, edition, and retailer. While there may be slight variations in prices among different retailers, Jordan shoes generally have a manufacturer's suggested retail price (MSRP) that must be followed. This pricing strategy helps maintain consistency and prevents excessive price variations in the market. The only outlier in this area is in the reselling market. These are individuals that buy Jordans at MSRP and resell them for a markup. This can be anywhere from a 25% markup, all the way to a 1000%. Promotion How does this brand advertise? Are there web sites for this brand? Again, discuss whether this brand has a sales force dedicated to their sales. How do they promote themselves?
4 Jordan Brand advertises using many methods. In the age of social media, Nike relies heavily on digital marketing. They have many ads that pop up on the feeds of different consumers. The use of consumer specific marketing is put into effect to cater ads to consumers that are more likely to buy Jordan Brand’s shoes. They also use high profile athletes and celebrities to promote their products. Jordan Brand does not have a dedicated sales force, but the retailers that carry their products provide expertise and customer assistance. Competitive Analysis The insert your brand name here – use only black font. You must review competitors in this format . Criteria for Comparison Jordan Brand Adidas Under Armour Place in the Market - # 1, 2, or 3 – in other words who sells the most? 1 2 3 Price - MSRP Range $183.29 (McLoughlin, 2021) $120.59 (McLoughlin, 2021) $120.91(McLoughli n, 2021) Product Unique Attributes History, Notalgia, Collaboration Technology and innovation Larger selection of cost friendly shoes Placement – Points of Distribution Online and retail stores Online and retail stores Online and retail stores Promotion – Where/How Do They Advertise SNKRS, social media, stores Social media, websites, stores Social media, websites, stores Ambassadors Travis Scott, Carmelo Anthony, Jayson Tatum, Chris Paul, Zion Williamson, Luka Doncic James Harden, Kanye West, Anthony Edwards, Damian Lillard, Donovan Mitchell Stephen Curry
5 Current Customer / Target Market Jordan Brand's target market primarily comprises basketball players, sneaker enthusiasts, and fashion-conscious individuals. The brand caters to both male and female customers, with a focus on the age group of 15-35 years (Cuofano, 2023). There is a wide range of income levels between buyers of Jordan Brand shoes. They sell shoes globally, and you are likely to see people wearing them anywhere you go. Current Consumer Behavior Based on your Module One learnings in this course, describe what their current target market demonstrates in their consumer behavior decision process. How do they decide to purchase your consumer product. Do not write in first person, but provide a good review based on the module’s learning materials. Market Research For JB to become more successful they should incorporate some sort of survey system that reaches out to their main audience for feedback. Nike has a SNKRS app which is used to see and purchase upcoming sneaker and apparel releases. Using this app to get interaction from customers would be ideal (Bojkov, 2023). The app asks for your age when you download it. So, JB should aim to target the audience that is most likely to buy their products. This would be ages 25-35 as mentioned before. This would ensure that people everywhere can see what deals and products are available. Also, tailoring certain types of apparel and shoes to the areas of the country in which they are most likely to be used is also necessary. An example would be advertising a pair of work boots in areas of the country that see more agriculture and manual outdoors labor. Focus groups could also be useful when used at colleges that have basketball
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