Marketing and Nike
Nike’s excellence marketing strategies are their energy to achieve their market goals. Nike believes the “pyramid influence” that the preferences of a small percentage of top athletes influence the product and brand choice. PROS OF NIKE’S CORE MARKETING STRATEGY: Nike put heavily proportion in their marketing strategies and products deign.
In order to sustain their dominance in the industry and retain their competitive advantages, Nike actively responds to the market trends and changes in consumer preference by adjusting their marketing strategies, the mix of existing product offerings, developing new products, styles and categories, and influencing sports and fitness preferences through various marketing strategies. CONS OF NIKE’S CORE MARKETING STRATEGY: Although Nike’s marketing strategies had brings lot of positive implications to the company, but it will bring negative implications to Nike too.
The negative implications that will identify in this assignment are high cost incurred, influence of spokesperson, and competitors. RISKS OF NIKE’S CORE MARKETING STRATEGY: Nike faces many risks when they use their core marketing strategies to achieve their goals and these risks can come from both internally and externally environmental circumstance. The risks will have a negative influence about Nike’s future development, for example, the market share in the world, reputation, brand image, and customer loyalty. Question 2: If you were Adidas, how would you compete with Nike?
Answer: There are two different tactics I can take when I am a #2 competitor going against the #1. I can do a direct attack, where I match everything the #1 does in terms of product, advertising, price and distribution. The chances of winning are slim, and… If you were adidas, how would you compete with nike? With a portfolio as diverse as goggles, what are the company’s core brand values? What’s next for Google? Is it doing the right thing taking on Microsoft with the concept of cloud computing, and apple in the fight for smart phones?