Price
As the world’s leading innovator in sports equipment, Nike currently sells a variety of football helmets and visors. With the new transition visor the company will be able to incorporate the current inventory and present them in a new way.
This product is created from Nike’s current line of football equipment and will be sold to department and retail stores for $45. This is the price that Dick’s Sporting Goods and other stores are going to pay for the product. When the product reaches the store shelves, the final price tag is estimated to be around $60. Nike wants the product to appeal to the variety levels and ages of our consumers.
With the visor, Nike wants to make it easier on the customer to just buy one item instead of having
…show more content…
The company’s pricing strategy also helps fulfill a need not being met by any of Nike’s closest competitors by having an overall superior product compared to those of competitors.
Place
The place component of the marketing mix is necessary for Nike to ensure profits and make sure their customers get the products they want, when they want them. After deciding that we wanted to make a two-in-one visor, our goal was very clear. We wanted customers in our target market to have the option to purchase one product instead of two products.
With our product, the multi-channel strategy that is already in place by Nike will be used. We plan on selling our product online, in catalogs and in retail stores that sell Nike products. The company will use an exclusive distribution plan because although we want to get our product in as many outlets as possible, Nike products are not sold in all stores and magazines, only certain exclusive
…show more content…
Football players who are looking for a visor are going to want just the right one. There are many other companies who sell football visors. These other visors come in either clear or tinted. There is not one that transitions with the sun or stadium lights and then the darkness. If you were a football player looking for a visor, wouldn’t you want the one that best fit your needs? As producers of the Nike Gridiron Transition Shield, we recognize that consumers who would want to purchase this product are familiar with the type of product that they are buying. For this reason, we are placing our product in our own Nike retail stores and we will also be targeting sports stores, like Dick’s Sporting Goods. We want consumers to be able to see right away which product they want. Having our product next to the clear visors and the shaded ones, should make the choice clear for our consumers. Putting our product in our own stores as well as other sports stores will increase profits for Nike as well as provide our customers with a product that is a combination of two products. This will in turn save the consumer money and make them
NIKE Inc. has been the worldwide leader of athletic shoe sales for many years now. The company’s successful brand image combined competition and enablement for the competitive, athletic user. Nike has to modify their brand to a focus of excitement and freedom and not just competitiveness. By collecting and studying an assortment of material we could be able to understand where NIKE is currently placed in the athletic shoe industry compared to their competition, and how they will be able to adjust their brand focus so it can be more effective in the future. These adjustments can help NIKE reach the more casual group of urban runners and ultimately increase the sales forecasts, while still controlling a percentage of the market for athletic shoes.
Nike may be typically known for focusing a lot of gear solely on athletes; yet, it is not just for them. Nike’s objective
In terms of core competency, Nike 1) provides high quality durable items to its customers. As a leader in fitness clothing and accessories, Nike strives to be on the edge of the market by providing innovative ideas that improve customer satisfaction. Recognizing the importance of eco-friendly business 3) Nike promotes recycling to its customers and utilize recycling in its own manufacture of products. Lastly, this organization 4) completes customer satisfaction while maintaining quality manufactured items at a competitive price.
Nike uses emotional context to appeal to a sports player mind. “Just do it”, Nike’s slogan, is encouraging athletics across the world to go on the field or gym and give it their all. Without seeing or directly experiencing the product, they convey a feeling to the audience to experience what it would be like to use their products. The main purpose of the Nike website is to adapt their audience to this ultra world of sports. Nike gives you the ability to do anything. Nike is a creditable source for quality sport clothing. They have contracts with Professional teams. When addressing counter arguments Nike has made it known to the world that they product the best athletic wear. Since being around from the 1960s Nike have been beating other competitive companies, such as Reebok, Adidas, and Under Armor. Stated by Hoover’s, Nike has 8 billion more total revenue then Adidas. They have been number one in their market for years. They challenge they best competitors, on Nike home page website they have the Jordan Jumpman label. Jordan is he greatest basketball player. With Jordan being with Nike there is no way none for the basketball audience to use a different brand then Nike.
6). This strategy is a major component of Nike’s business strategic level plan. In applying this strategy, Nike has attained a great deal of consumer insight, which it uses to offer uniquely designed premium products to the athletes. Still on product differentiation, Nike focuses more on research and development at a greater level. These unique features to Nike, have transformed the competition levels in this competitive industry, leading to a trend of a paradigm shift in the market. Most consumers opt for Nike branded sports products and apparels, at the expense of the other brand names.
To conduct this study on Nike I used a mix of primary sources, books, and websites that are all dedicated to Nike Brand’s past and present history. All of the sources I used have proven to be credible in the sneakerhead world and are sources that Nike will leak information to so they can publish it and make it known to everyone it may interest. Additionally, I used a connection I have with the District Loss Prevention Manager at Nike, Inc for the greater New York City Area to obtain an interview in order to gain insight into why Nike conducts limited releases the way they do. To protect his identity, for this paper I will be referring to him as “Bill Harris” as he provided me with insider information that is classified and
Nike is a strong brand at the global market and it normally sells the product in the market with high price to get higher margins and profit value. However, many competitors cost of the footwear
To begin with, when Nike first started they began with a purpose to sell sportswear, but with motivation on wanting to enhance other people’s lives through sports and fitness. They wanted to find a way to keep the magic of sports alive. With time, they came out with a logo “Just
IntroductionNike Corporation was incorporated in 1968. In their thirty-four year history, Nike has primarily been in the business of designing, developing, and marketing athletic footwear, attire, equipment and accessories, а lot of companies go out on a limb when it comes to business decision or management strategies with Nike Corporation. Nike is а powerful company. Nike Corporation is a well managed company in а striking industry, the company has a strong brand image, and they are effectively capturing the value shaped from their savings. Modern superior ways to make products are significant in today's Apparel companies, both to be efficient and to be able to make hi-tech products. Nike is dependent upon high technology in their effort
Starting from making running shoes, Nike had branched out rapidly into an assortment of other sports as well as leisure markets. The firm appealed to the market on the basis of quality, technical innovation, and high performance, all of which attracted the serious athletes. This
strategy is to increase sales by offering a great product at accessible cost. Nike needs to keep its
The level of competition in the sector of athletic shoes, apparel and equipment is extremely high between two primary businesses in this category and that is Adidas and Nike. Other shoe businesses also are fighting to take a pieces of the market with new products and promotions these companies include for athletic shoes brands such as Reebok, Puma, Under Armour, Converse, Vans, New Balance, Fila, Asics, Keds, Geox, Rockport, Ecko and for clothing brands new competitors such as Tommy Hilfiger, Ralph Lauren, Nautica and the Gap. All of these emerging brands with some of them having their own customer bases or brand loyalty do threaten Nike’s control of the largest segment of the market. It is not so much the price of the shoes but the branding that drives the market. So if the brand is popular than that is what the customer is looking for more than price. Much of this threat to Nikes branding is from changing customer preferences for what brand of sports shoes that they want.
While Nike continues to evolve its marketing campaign, there are a number of strategies that the Nike team has at its disposal to make the revenue growth, a few of which include signing up famous athletes and celebrities in sports as well as fashion. Besides, the company also focuses on signing multiple teams to their consumer base where the sportsmen are required to buy and wear only the Nike products, thus helping it immensely in promoting its brand to a large consumer base.
Recently Nike has eliminated the swoosh logo from their advertising and replaced it with the word nike in lower case lettering. I believe this is part of their effort to reinvent themselves and change their image as an environmentally conscious company as well as a new look to celebrate their years of success in the company and their products. This change in logo is not Nike’s first attempt to present a new look and is another example of the companies effort to keep up with the latest trends and styles sought after by an eager market of buyers.
Nike's pricing is intended to be competitive to the next style Shoe retailer. The pricing depends on the premise of premium section as target clients. Nike's pricing system makes utilization of vertical combination in pricing wherein they possess members at contrasting channel levels or tune in more than one channel level operations. This can control expenses and impact item pricing.