Market Strategy Marketing Channels Implementation and Monitoring

Market Strategy Marketing Channels Implementation and Monitoring

New Customer Segments

Tweens and Teens 

Nike’s new strategy provides an enduring appeal among young shoppers, and as a result, Nike intends to target them, hoping to grow its penetration in this market segment. Since Nike is the number one preferred brand in this segment, the company is already aware of the specific metrics that attract them (Mahdi et al., 2015). Nike also targets Generation Z by incorporating product features and marketing strategies that capture this market segment.

Are you looking to get your assignment done ? Contact us.

In the same breath, the company must use marketing strategies that resonate with this segment. For instance, using social influencers that are popular among young people, like pop stars, will go a long way to promote the brand among the teen customer segment (Mahdi et al., 2015). Further, when it comes to pricing, the best way to win over the young population is to use the low-cost strategy. Although the company has established the reputation of using a high pricing strategy, some adjustments will go a long way to ensure they win over the youngsters with less income.

Women Pursuing Fitness

Women also constitute a key component of Nike’s target market. The company’s new strategy seeks to ensure that sales among this target audience grow quickly compared to the past. Nike will have to use a different strategy when targeting women compared to when they target male customers. A key difference is that women do not demand apparel meant for sports and athletics like men, but rather products designed for yoga. Therefore, Nike will have to innovate more Yoga-like products to attract female customers. It is worth noting that high performance in men does not mean the same for women. While men view high performance from the sports perspective, women hold a different perspective since they are only interested in fitness. Therefore, Nike should design fashionable fitness shoes and other apparel products that fulfill the needs of women customers.

Nike will also take a different strategy when marketing and communicating with women. Unlike in male sports marketing, where the company uses popular athletes to push sales, women have a different perspective. No woman imagines they can perform like top athletic female stars by just wearing Nike shoes. Therefore, Nike should rely on traditional marketing methods such as print media and TV advertisements instead of endorsing to push sales. While at it, the company should display regular women doing their day-to-day workouts. In the long run, this strategy will resonate with women who are only interested in keeping fit. When making pricing decisions for this segment, the company can maintain its high pricing strategy since most of this market segment includes working individuals.

School Athletes

Nike has the opportunity to market to school-going players. For instance, in the American market, basketball is the reigning popular sport (Mahdi et al., 2015). Nike can leverage the popularity of the sport to market to youngsters. One way to achieve this is by organizing basketball tournaments and circuits. As an official sponsor, Nike should provide the shoes for players to wear at these events. This strategy will go a long way to influence youths to get used to wearing Nike shoes and extend the habit into the future. Also, this marketing mechanism will go a long way to cement Nike’s NBA dominance, besides introducing this new market segment. Once school game organizers get used to using Nike products, they will likely purchase from the company when conducting normal school games.

Further, traditional and social media are the best way to reach this target audience. On the one hand, event organizers will be sensitized about the existence of the products on social media, while the young participants will access such information from online social media platforms such as Instagram and Facebook. On pricing, the company should consider designing a special arrangement such that teams that purchase in bulk get a discount. Some school event organizers run on a tight budget; thus, extending a discount will go a long way to attract new customers and retain them.

Marketing Implementation

Nike should use geographical segmentation to market to different nations, regions, cities, and regions in a way that suits their needs. This is based on the fact that consumers from a specific region have unique needs (Xia et al., 2023). For instance, basketball and football are the most popular sports in the American market. Therefore, Nike will use popular athletes associated with these sports to market their products. Such targeting will apply to men and school sports participants who are focused on high performance. On the other hand, American women pursuing fitness goals will be reached by delving into the subject of the American obesity crisis. While marketing to American women, the company should emphasize how much of a crisis obesity has become and how working out will go a long way to alleviate the crisis. Geographic marketing is hinged on the fact that consumer needs differ from one place to the other depending on the consumers’ geographical location (Xia et al., 2023). In this case, for instance, there is a significant difference between American football and European football.

Marketing decisions should be left entirely to regional division managers. This is because the company’s operations are influenced by divisional managers. From a global business perspective, the head office should leave some decisions to regional managers (Xia et al., 2023). That is because local managers are better placed to understand the consumers’ pain points specific to their areas of operation.

Marketing Communication Channels

Strategic Actions

Monitoring

References

Mahdi, H. A. A., Abbas, M., Mazar, T. I., & George, S. (2015). A Comparative Analysis of Strategies and Business Models of Nike, Inc. and Adidas Group with special reference to Competitive Advantage in the context of a Dynamic and Competitive Environment. International Journal of Business Management and Economic Research, 6(3), 167-177.

Xia, Y., Li, X., & Wang, X. (2023). The Influence of Organizational Structure on the Dynamic Capability of Enterprises: The Regulating Effect of Technological Innovation. Science, 11(2), 57-66.

Yoga, I. M. S., Korry, N. P. D. P., & Yulianti, N. M. D. R. (2019). Information technology adoption on the digital marketing communication channel. International Journal of Social Sciences and Humanities, 3(2), 95-104.

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

****Company For This Assignment is Nike****
****Part C Only*****

The Strategic Marketing Plan should be used as a template for Part C, but when doing that, you need to delete the detailed instructions in each subsection and replace this with your actual content.

Market Strategy Marketing Channels Implementation and Monitoring

You should not include the instructions. Also, only include part C in your submission. Parts A, and B should not be included.