Nike Marketing Strategy
Nike must employ a number of modes of communication to deliver their message to the consumers. There are different ways of marketing that suit different stages of the athletic shoes in their life cycle. Capturing the attention of the consumer is the first stage of the product marketing in its earliest stage. Mass media such as TV, radio, print media and the internet come in handy in this stage (Evans, 2008). They are guaranteed to reach the targeted audience and deliver the message capturing their attention as intended. The second stage involves supplying more information to consumers who have developed interest in the product. This is achieved through mass media especially print and direct mail. This way, consumers get to learn about the features, prices and other aspects of the products of interest to them.
Desire follows interest. This is achieved if the consumer is convinced about the product from the information that they have about the product. Desire is followed by action. At this stage, the consumer decides to buy the product. Nike must keep its advertisements going to keep on reminding their consumers about the existence of this product at any stage of the product cycle. Consumers are likely to buy in big numbers when the product is launched (Parker, 2002). This is a result of the hype surrounding the product that is generated by a vibrant marketing strategy. As this marketing strategy eases off, the demand of the product drop as people go for other products. This implies that the company must maintain its marketing at a certain level to ensure even at later stages of the product it will make substantial sales (Kotler & Keller, 2012).
Strength of Nike
The company has a tradition of manufacturing high quality products. This serves it well because people trust its products. The company uses innovative materials that ensure the products are light fitting the user needs. The company has a huge global market that results to a huge cash flow. This cash is important as it enables the company market its products and support its research and development department.
The company mainly relies on endorsement deals. This involves signing long-term deals with its clients and offering sponsorship in return. This requires huge capital outlays but the approach has proven very successful because most of its clients have a huge global following, which results to sales of their merchandise worldwide.
Evans, D. (2008). Social Media Marketing : An Hour a Day. Indianapolis, Ind: Wiley.
Kotler, P., & Keller, K. (2012). A framework for marketing management / Philip Kotler, Kevin
Lane Keller. Boston : Prentice Hall, c2012.
Parker, P. M. (2002). Price Elasticity Dynamics Over the Adoption Life Cycle.Journal of Marketing Research (JMR), 29(3).