Reading the case study, identify the target market and the appropriate pricing strategy Nike is to use to capture target market. Product and Pricing Strategies of the Nike Athletics Shoes EssayNike Incorporation competitiveness for sportswear and equipment market leadership has continued to expand. TheCompany has developed flexible product and pricing strategies for its athletics shoes. The Company has varying pricingstrategies depending on their consumer groups (Hill & Jones, 2010). Consequently, the prices for its products fluctuatesubject to diverse aspects of their products including type, features, design, and edition. Particularly, the Company sellsIts athletics shoes at standard prices to consumer groups who can pay. However, the Company normally design andmanufacture shoes, which target a particular group of clients. The shoes normally have specific features preferred bydifferent consumer groups. Nike Incorporation product and pricing strategy flexibility has enabled it to capture varyingconsumer groups.The Company applies value-based and price leadership, product-pricing strategy in determining prices of its items. Thestrategy incorporates setting prices by considering the value various clients place on particular products. To this end, theCompany relies on a strong brand appeal among consumers. The customers can purchase Nike recognized productsregardless of the standard price for such items (Ferrell & Hartline, 2011).In addition, Nike applies vertical integrationpricing approach, which focuses on retaining clients in multiple level operations. The strategy enhances pricecompetitiveness in relation to other market players while ensuring that they remain manageable to retailers (Hill & Jones,2010). It is notable that the approach also focuses on the premium segment of the market based on consumers' loyaltyto the brand.The Company's current product positioning strategy incorporates using super stars like Tiger Woods to endorse products.In addition, the Company enhances its product positioning through promoting the "Just Do It trademark (McKinley.M2005). The Company invests in developing pricing strategies for diverse items based on the traditional product life cycle.The Company must determine the readiness of a larget marketplace before executing an appropriate approach such asintroductory pricing for its penetration.The Company also ensures that business intricacies such as marketing, supplies, and promotion do not presentdetrimental effects on product sales during the “fo cycle (McKinley, M2005). Furthermore, adopting public relations andsustainability practices escalates brand awareness within the target marketplace and potential consumers.It is recommendable that the Company uses product and pricing strategy, which can provide a twin approach (Koester2011). The strategy should focus on ensuring smooth entry of a new product within a targeted marketplace as well asstrengthening prices as the product continue to establish itself within the product life cycle. To this end, it isrecommendable that the company uses introductory pricing strategies to facilitate a smooth entry.Subsequently, the Company should adopt a premium - pricing approach to cater for all its clients in the marketplace(Koester, 2011). The strategy entails fixing the price for shoes based on their quality and the clients willingness to pay.This approach should be anchored on the realization that clients who purchase Nike recognized brands have developeda strong brand emotional intelligence and are willing to pay for the terms because of the worth of such products.It is notable that this recommendation does not signify that going forward the company should ignore the pricing strategiesbased on product leadership and value (Ferrell & Hartline, 2011). The Company should recognize that widening its pricingstrategies could escalate the targeting of all its consumer groups

Question

Reading the case study, identify the target market and the appropriate pricing strategy Nike is to use to capture target market. Product and Pricing Strategies of the Nike Athletics Shoes EssayNike Incorporation competitiveness for sportswear and equipment market leadership has continued to expand. TheCompany has developed flexible product and pricing strategies for its athletics shoes. The Company has varying pricingstrategies depending on their consumer groups (Hill & Jones, 2010). Consequently, the prices for its products fluctuatesubject to diverse aspects of their products including type, features, design, and edition. Particularly, the Company sellsIts athletics shoes at standard prices to consumer groups who can pay. However, the Company normally design andmanufacture shoes, which target a particular group of clients. The shoes normally have specific features preferred bydifferent consumer groups. Nike Incorporation product and pricing strategy flexibility has enabled it to capture varyingconsumer groups.The Company applies value-based and price leadership, product-pricing strategy in determining prices of its items. Thestrategy incorporates setting prices by considering the value various clients place on particular products. To this end, theCompany relies on a strong brand appeal among consumers. The customers can purchase Nike recognized productsregardless of the standard price for such items (Ferrell & Hartline, 2011).In addition, Nike applies vertical integrationpricing approach, which focuses on retaining clients in multiple level operations. The strategy enhances pricecompetitiveness in relation to other market players while ensuring that they remain manageable to retailers (Hill & Jones,2010). It is notable that the approach also focuses on the premium segment of the market based on consumers' loyaltyto the brand.The Company's current product positioning strategy incorporates using super stars like Tiger Woods to endorse products.In addition, the Company enhances its product positioning through promoting the &#34;Just Do It trademark (McKinley.M2005). The Company invests in developing pricing strategies for diverse items based on the traditional product life cycle.The Company must determine the readiness of a larget marketplace before executing an appropriate approach such asintroductory pricing for its penetration.The Company also ensures that business intricacies such as marketing, supplies, and promotion do not presentdetrimental effects on product sales during the “fo cycle (McKinley, M2005). Furthermore, adopting public relations andsustainability practices escalates brand awareness within the target marketplace and potential consumers.It is recommendable that the Company uses product and pricing strategy, which can provide a twin approach (Koester2011). The strategy should focus on ensuring smooth entry of a new product within a targeted marketplace as well asstrengthening prices as the product continue to establish itself within the product life cycle. To this end, it isrecommendable that the company uses introductory pricing strategies to facilitate a smooth entry.Subsequently, the Company should adopt a premium - pricing approach to cater for all its clients in the marketplace(Koester, 2011). The strategy entails fixing the price for shoes based on their quality and the clients willingness to pay.This approach should be anchored on the realization that clients who purchase Nike recognized brands have developeda strong brand emotional intelligence and are willing to pay for the terms because of the worth of such products.It is notable that this recommendation does not signify that going forward the company should ignore the pricing strategiesbased on product leadership and value (Ferrell & Hartline, 2011). The Company should recognize that widening its pricingstrategies could escalate the targeting of all its consumer groups

Accepted Answer

Based on the information provided in the case study, the target market for Nike's athletics shoes…