Nike Marketing Plan Essay - 1675 Words

ABSTRACT This paper endeavors to recommend a viable marketing plan for the footwear giant, Nike. The plan has been adequately substantiated with thorough research on different factors affecting the firm along with various ways of addressing future challenges. This research paper highlights that Nike is confronted with multifarious issues which need to be negotiated amicably. Result of the study concludes that there is still a world waiting for the Nike to be exploited, outsmarting its competitors employing its innovative and creative business strategy. MINI BUSINESS / MARKETING PLAN Ââ€" NIKE, INC. COMPANY OVERVIEW In 1962, two individuals from the University of Oregon established a small company with the name of Blue Ribbon†¦show more content†¦The footwear has been sub categorized into various product lines including sports culture, running, basketball, soccer, women fitness, baseball, football, track and field and kids. The equipment products comprise of bags, golf items and timing tools. [All products, Nike.com] PERCEPTUAL MAPPING Nike is the top shoe manufacturer and holds major chunk of the US athletic shoe market. It has 36 competitors of which top three include Reebok, Adidas, and Fila. [Catherine Colbert, Hoovers.com] The industry is faced with multiple challenges like decreasing demand and increasing popularity of alternative footwear. Nike currently enjoys 47 % of market share with Reebok following with 16 % and Adidas having 6 %. [Steven Van Dusen, Nike vs. the Competition, web-link] With the merger of Reebok and Adidas, Nike is likely to confront a tough future. SWOT ANALYSIS Nikes SWOT analysis in brief is as following. [SWOT, marketingteacher.com] 1) Nike derives its strength from its strong research and development capability. It is constantly evolving innovative products of high quality with comparatively low price. 2) Nikes major weakness lies in her heavily reliance on footwear. This makes her exposed considerably to market fluctuations. More-so, Nike has very little share of retailing its own products hence the low price pressure is often passed on to the company by the retailers who refuse to lower their own profit margins. 3) Nike owns a globally recognizedShow MoreRelatedMarketing Plan Nike3380 Words   |  14 PagesINTERNATIONAL UNIVERSITY COLLEGE Sofia MARKETING PLAN Market entry/grow opportunity for Nike in Bulgaria INDIVIDUAL ASSIGNMENT Coursework in MARKETING Student registration No: 20019402 Program: MBA Lecturer: Dr. V. Blagoev Executive Summary Our approach to developing a market-entry strategy follows a structured process, based on in-depth understanding of all aspects that feed into a commercial launch. A comprehensive analysis, using market data and marketRead MoreMarketing Plan For Nike And Gatorade Essay1679 Words   |  7 Pagescompanies together as partners in more than just the way of marketing. 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