Economics Analysis of Nike Introduction Economics play a significant role in positioning a company in the market. Economics analysis of a company helps in identifying the impact of economic factors on the business. In addition, it supports in understanding the company's position within the market Quiry et al.
The meaning of using the metrics is to provide the diagnostic information for managers to improve the performance of brand and business.
In addition, it also provides the practical and objective report for stakeholders to identify whether the marketing is accountable or not. Nike is the global brand and also the number one sport brand in the world. Next, I will employ three appropriate marketing metrics to estimate and analyze how Nike qualifies marketing performance and achieving its goal.
Nike know about the Customer Life Value and capable of translating marketing effort into financial results. For example, the marketing strategies are not only focus on the shoes and equipment, but beyond them.
So, Nike is sport. As a result, the image of caring enterprise is no doubt ensuring that each customer relationship remains profitable. Therefore, from Customer Lifetime Value perspective, it is a good strategy which is beneficial the company. In terms of Customer Profile Metrics, Marketers should understand who their different buyers are, where they live and when they shop Iacobucci, Nike mostly focuses on three kinds of customers: Women, young athletes and runners, in which the primary targeted customer who are between years of age.
Nike has a very general targeted demographic and geographic segment, such as North America geography, Western Europe, China. Where the sales revenue experienced a significant increase.
In terms of Marketing Activity Metrics, the significant strategy must be mentioned is the Nike Brand-Category Offense, meanwhile, it is important to measure how this strategy the company is actually doing.
Nike has been launching largest-ever presence at world cup, such as national team kits, new footwear and so on. It is number one position in U. S, and top five in European markets. It is obvious that Nike has powerful competitive advantages in their portfolio, including the innovative brands and products which closely relevant to target customers and their greatest athletes and teams.
Mason, Ohio, South-Western; Andover: Cengage Learning [distributor], webmasters and company marketing strategies due to the desire of companies to have their products and They plan on continuing to make acquisitions internationally and domestic to continue to add its products to every means of communications and data interaction available.
The strategies of Nike and Adidas have been compared from the textile industry. Nike and Adidas both specialize in footwear, apparel and accessories and their competition is intense as Nike is the market leader and Adidas is the market challenger.
However, in Adidas took over Sports Inc., a US based sports marketing company and Adidas.
As the game gained in popularity domestically, so too did Nike's commitment to marketing its soccer products to a U.S. audience.
In , Nike paid $ million to sponsor the U.S. men's national. Integrated Marketing Communication Plan Nike Running Shoes I. Background Nike Incorporated, the leading innovator in athletic apparel and accessories, traces its roots to the University of Oregon track and field team of the early ’s.
The most important marketing strategy by Nike is definitely its well-designed promotion plan. They spend a lot of amount on the advertisement for the awareness of public on the new product or the existing product that has a market.
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