Give a clear definition of the marketing function - what does it aim to do?
- Product
- Place
- Promotion
- Price
Nike company aim to keep their cost down is driven by the intense competition of the industry in which they operate. Now, Nike is paying with price cuts in the 50% range on last year's models. Nike's inventory glut is messiest in Asia, largely because the company operates few outlet stores there. In the U.S., Nike sells almost half of its leftover shoes through its 41 factory stores and the rest through discounters.
What are the key marketing objectives of the company?
- Nike will have to consider the political, legal and cultural issued in implementing any future strategies for the international markets. The strategy will also consider various market entry modes and also resource both in terms of financial and human in implementing the strategy. Any strategy consideration will also involve a risk and impact analysis, hence, level of risk assumed in various markets and potential consequences. Nike will examine competitive rivalry in the industry and how Nike uses its brand differentiation strategy to counter such treats.
In your view, does the marketing strategy adopted by the company appear to help them to meet these objectives?
-I think I will certainly need fresh products to excite bored consumers. I will develop my shoes all of the time and I will discount old shoes. I will try to do other products but in the Nike brand.
What are the main market segments the company appears to be aiming at?
-Nike doesn't only sell athletic shoes, but a wide variety of sporting goods and clothing. They also design, develop, and market high quality active sports apparel, equipment, and accessory products. Their huge lines of products are designed for just about every sport in existence. Their products are made for men, women, and children of all ages.
