Marketing Strategy Of Nike – The Nike marketing mix (4Ps) is a comprehensive tool used by the American multinational company Nike to create various marketing strategies such as product strategy, product innovation, pricing strategy, price promotion, positioning strategy, distribution network, advertising strategy and comprehensive marketing plan.
Nike’s marketing mix laid the groundwork to enhance brand image, increase customer perception, and increase Nike’s customer base in its target market. Wanting to be the brand that customers prefer over any other sports brand, it has created strong marketing strategies that help it achieve its desired business goals in the industry.
Marketing Strategy Of Nike
American multinational Nike is the largest sportswear brand in the sportswear industry by sales of sportswear. With the sneaker crown, Nike is the largest supplier of sports clothing and footwear and one of the largest manufacturers of sports equipment in the world.
Nike’s Brilliant Marketing Strategy
The Nike brand was founded in 1964 as Blue-Ribbon Sports, but rebranded from Blue-Ribbon Sports to Nike Inc. in 1971. Nike co-founder Bill Bauerman was the track and field coach who helped shape Luna. The shoe” was later sold for a large sum at a Sotheby’s auction to Miles Nadal.
The company sells products under various brands such as Nike, Nike CR7, Nike Air Jordan, Converse, Nike Dunk, Nike Blazers Nike Skateboard, Nike Cortez, Nike Air Max, Nike+, Nike Air Force 1, Nike Golf and Nike Pro, among others others.
Nike operates through its Converse and Nike Air Jordan subsidiaries as well as retail stores under the Niketown brand. It sponsors international and local sports teams and professional athletes in lawn tennis, soccer and other sports such as golf and swimming using the Swoosh logo and the Just-Do-It brand.
Nike’s marketing strategy works in the brand’s favor as it helps target the older and younger generations with ease. Nike products are loved by all genders, regardless of age, so Nike’s target audience is men, women and children.
Nike Market Segmentation, Targeting, And Positioning
The brand believes in premium brands and offers casual shoes, sports shoes, sports equipment, sports shoes and running shoes, etc., as it is loved by sports teams and professionals who are looking for high-quality brand products.
Nike’s target market is also the middle-class masses who look for quality products, who like products based on price, and see sports stars and professional athletes such as Serena Williams, Michael Jordan and Lebron James in their advertising and marketing campaigns.
Nike’s marketing mix focuses on Nike’s customers and has therefore created customer-friendly marketing strategies that help attract Nike’s existing and potential target groups in the sportswear industry.
Nike’s marketing strategy is one of the main reasons for quality branding, product innovation and direct marketing to the target market. This helped consumers perceive Nike as a premium brand with quality products. The crown of Nike sneakers as the best brand in the sneaker industry is due to their marketing mix and marketing strategies.
Nike Marketing Strategy: 3 Key Takeaways You Should Know
Nike develops, designs, markets and manufactures apparel, sports equipment, accessories, footwear and related services. Innovative styles, unique designs and the highest quality materials have made the brand popular among international and local sports teams around the world.
The company develops Nike sports products and equipment for sports such as football, baseball, volleyball, cycling, cross training, water sports, lawn tennis, golf. The brand’s first sneaker was a sneaker, and since then the brand has launched several Nike products under the Air Max, Nike NYX, Nike Cortez and Nike SB, among others. Casual shoes, sports shoes, running shoes and premium brand sports shoes have become Nike products that are appreciated around the world.
Apple Inc. has partnered with Nike for a line of Nike+ products that help track a runner’s performance. Nike’s latest pair of shoes features flywire and lunarlite foam to reduce and distribute weight. The Nike Air Zoom shoe has an air-cushioned sole and Nike ZoomX Vaporfly NEXT ZoomX foam.
Nike products in the Nike marketing strategy include shorts, jerseys, shoes, caps, insoles and sports equipment, among others. It is one of the best sneaker brands and its sneakers are appreciated by experts all over the world. The retro look Nike Cortez is a running and athletic shoe loved by the younger generation.
Strategy Study: How Nike Runs The Sportswear Game
Customers’ affection for Nike products made the brand a status symbol. Its recognizable Swoosh logo is synonymous with hip-hop and urban fashion. Since the 1980s, Nike footwear, sports equipment and apparel, including the Nike Blazer, leggings, T-shirts, sweatshirts, leggings, leg warmers, bomber jackets, baseball caps, tracksuits, tracksuits, Nike Air Force 1 and Nike shoes Air Max became popular. favorite product of the younger generation. Customers prefer simple and cool Nike Blazers for skateboarding.
In 2015, the brand launched a self-lacing Nike shoe called Nike Mag and later a high-end streetwear line called NikeLab. The popularity of Nike sneakers is unsurpassed in the world.
Place and distribution marketing strategies in Nike’s marketing mix focus on creating and selling innovative product lines that enhance customer perception of the brand. Nike has a wide distribution network and many channels to easily distribute its products from its manufacturing centers to end customers.
Nike sells its products through retail stores, fashion stores, Nike stores, its company’s online stores, and other online stores. The company has chosen both online and retail stores as its outlets because it wants to keep up with the changing times and understands that some customers will prefer to shop online while others will want to view the product in retail stores. purchase.
Nike Marketing Strategy
Nike’s marketing strategy for placement and distribution is very simple. He wants to present his products to as many customers as possible, so he used retail and online stores to sell products to customers.
Nike sells its products in more than 1,000 retail stores worldwide. These brick-and-mortar retail stores are very popular with customers who prefer to browse and shop in brick-and-mortar stores. Niketown, the first Nike retail store, opened in downtown Portland, and the company has since opened many more. Nike stores are large luxury stores with a professional zone and a customized booth that offers consumers a premium experience and new products.
While the company’s physical retail locations are popular, consumers can seamlessly purchase products on the company’s website. Consumers can buy products from other online stores like Amazon, Myntra and Flipkart
Products can also be ordered through the Nike app, where the Nike Fit feature uses artificial intelligence and data science to accurately measure the right product size.
Marketing And Branding Strategy Of Nike
Nike’s marketing strategy and marketing mix are very clear on price. The products are of high quality, which is why the brand has chosen a value-based and premium pricing strategy. In order to expand its product availability and build a strong customer base, Nike offers its customers incentives such as occasional discounts and Easter sales.
Nike’s marketing strategy focuses on the following pricing strategies to retain its existing customers and attract potential customers.
Nike’s marketing network has adopted a value-based pricing strategy for its products. It takes into account the prevailing prices in the market and measures how much customers are willing to pay for the brand’s products. The value-based pricing strategy worked in favor of the brand and resulted in higher sales volume.
Nike’s marketing mix focuses on product quality and innovation, which demands a high product price. Nike has adopted a premium pricing strategy for its premium products as its customers belong to the upper middle class and professionals who are not bothered by high product prices.
Nike Swot 2023
High priced products are often seen as luxury items and this is also the case for Nike where high priced products are in high demand among all types of customers.
Nike’s marketing strategy uses an aggressive advertising strategy and superior branding to increase brand image and market recognition. His marketing plan includes digital marketing, personal communication through social media and direct marketing to increase consumer brand awareness.
Nike uses traditional media to sell its products and create a brand image. Interesting advertising campaigns with the participation of famous personalities are shown on television channels, radio, newspapers, magazines, billboards and in warehouses.
As part of sales promotion marketing strategies, the brand offers massive and timely discounts such as Christmas and Eater sales through online and retail stores.
Nike’s Approach To Marketing: Then And Now
A world-renowned company understands the importance of social media channels and has effectively used social media platforms to its advantage. The goal is simple keyword research to create engaging content to highlight the brand, its products, advertising strategy and achievements.
Nike has created user-generated content and featured it on social media channels such as NikeWomen, an Instagram channel promoting sports and a healthy lifestyle for women. The mark is very high