Marketing Assignment: Case Study Analysis Of Nike

Question

Task: Marketing Assignment Task:
1. You are required to demonstrate an understanding of the marking concept and how it applies to the chosen organisation. The marketing concept is the belief that companies must assess the needs of their consumers first and foremost. Based on those needs, companies can make decisions in order to satisfy their consumer’s needs, better than their competition. You should present a series of evidence from the relevant firm that implements strategically to satisfy customer’s needs, increase sales, maximize profit and beat the competition. There are five marketing concepts that organisations adopt and execute strategically. You should explicitly point how the chosen firm implements the Production strategically. You should explicitly point how the chosen firm implements Production concept, product concept, selling concept, marketing concept and societal marketing concept.
2. Secondly, you are required to define marketing objectives for the chosen organisation and demonstrate an appreciation of how these may be achieved. Typically, marketing objectives include some or all of the following. You can consider the following objectives to demonstrate how your chosen firm has met them.
i) Build brand awareness
ii) Grow market share
iii) Launch new products or services
iv) Enhance customer relationships
v) Enter new markets internationally or locally

3. You are required to demonstrate an understanding of qualitative and quantitative market-research techniques that can be applied to the chosen case study. Firms deploy a series of research methods to identify market problems in order to make products to meet customer’s needs. These researched could be applicable in three areas of existing customers, its prospects and target market users.

Answer

Task 1
Introduction
The outline of the present section of this marketing assignment willuse a wide range of marketing concepts applied over the ways for the selected company Nike conceptualising exploring and implementing core perceptions triggered by production concepts, product concepts, selling concepts, marketing concepts, and exploring societal marketing concepts.

Understanding the Marketing perceptions and concepts for Nike
Nike, the US-based merchandise brand, holds the primary position as ranked number one in consumers' perceptions of innovation and fashion/style and, most importantly, on the customers' purchase intention towards becoming the favourites in the market(Erkilic, 2022). The marketing strategy of the selected brand, in summary, conceptualises the specific point of consideration is to invest heavily in marketing along with using emotional advertisement strategy that every individual will be able to identify with and offering premium category products over both online and offline marketing mode("High-Performance Marketing: An Interview with Nike’s Phil Knight", 2022). Therefore, the management of Nike requires focusing on the following factors for reaching a result-oriented outcome-driven while exploring the determined perceptions towards holding a strong position in the market with a defined brand name discussed in the following part of the report.

Production Concept:
Nike's production concept continuously tries to deliver results with innovation and creativity, seeking for developing products for improving the performance level of the athletic("High-Performance Marketing: An Interview with Nike’s Phil Knight", 2022). The brand believes in the way towards overriding the desire for delivering and designing the best products by maintaining true performance innovation and technological benefits in the market with implementing a strategize production aspects(Kate, 2022).

Product Concept:
Nike is one of the favourites among the athletics who tries to create products with an improved level of performance matrix in the sports sector. Majorities of the offered products in the market explored a premium category offering desired towards manufacturing products with the application of true innovation and technological benefits for making the athletics perform at their optimum level as opined by Erkilic(2022).

Selling Concept:
A part of Nike's marketing strategy, the selected sports mechanise sells the customer an idea with overcoming odds where using products will allow the users to deliver their best goals. For example, as one of the highly accepted sports brands, Nike maintains a tagline “to run one needs comfortable shoes” where selling the idea of running allows the brand to strategise their selling strategy with the best use of the marketing ix or 4P strategy. Same perceptions applied over the Australian market.

Marketing Concept:
The marketing concept of Nike composed with the use of four specific factor wise classifications driven towards analysing the best use of the marketing mix concepts triggered with the application of the 4P Framework as per Kate(2022). While using the perceptions of the 4P Framework, the composition will explore product, price, place, and promotion. For example, Nike delivers sports-oriented products and merchandise to fulfil athletics requirements by maintaining a premium price range. For example, Nile maintains a vast online market place in Australia. On the other hand, the offered products are available on an offline and online platform while maintaining a diversified marketplace triggered by the digital marketing mix concepts for making the best use of the communication channel.

Societal Marketing Concept:
The perceptions of the societal concept explored how both the objectives of the business and fulfilling the interest of the society accomplished over the ways by maintaining a framework of shared values. Nike believes in the ways towards applying the perceptions of Corporate Shared value by enhancing the competitive position of the company with advances for the society in which it operates(Erkilic, 2022). Trust in business required maintained at the top priority over several kinds of business circumstances.

Market Positioning for Nike
(Source: Google Image)

Summary
From the above creating, the necessary point of understanding will deliver results over the ways, allowing Nike to create the necessary perceptions of marketing. The necessary perceptions of discursions covered in the best possible manner.

Task 2
Introduction
The present section of the report will also focus on the key marketing objectives for the selected organisation Nike towards addressing specific points such as building brand awareness, growing market share, launching of new products, enhancement of customer relationship and penetrating new markets both internationally and locally are some of the major points of discussions.

Exploring the key marketing objectives and concepts for Nike
Building brand awareness:
Brand awareness has become one of the serious concerns for any brand operating business across the world. Nike focuses on sponsorship, advertisements, title sponsors of some major sports events, and focused retailing (Nike town). The three vivid channels the selected brand goes with to enhance its brand image and awareness in Australia with rest of the world. Along with the same point of time, applying the determining perception allowed Nike for going with athlete endorsements created a specific point of consideration as opined by Eyada(2020).

Growing market share:
Nike holds a considerable share globally, around 40% of the global athletic footwear and having 13.35% of global athletic appeal and others maintaining a small and respective amount of market share. There are 57 locations of Nike in Australia by holding a market share of 27.25% in the industry followed by the rivals. Wide ranges of strategies applied over the ways for the present global brand to develop a higher sustainable position in the market by creating the necessary value for the customers and exploring the significance of providing a quality product(Brace, 2018). A sustained level of growth identified over the market share for Nike, reaching 42.25% globally and considered the highest among the rivals.

Launching new products and services:
Nike's business operations are driven by core innovation and creativity. Nike Corporation delivers the product backed with proper research by maintaining the potentiality for fulfilling the requirements of a sports person. Therefore, stages include new idea generation, idea screening, and conceptdevelopment commercialisation with the necessary marketing strategy(Šeri and Ljubica, 2018).

Enhancement of customer relationship management:
Maintaining effective CRM strategies allowed Nike to go with and stay c competitive in the Australian and global market while being connected with the customers all the time. Additionally, Nike believes in creating new leads, supporting and managing relationships with current customers to maximise their lifetime value for the company and boost productivity by making the operation cost-effective(Hague, 2021).

Entering new markets either internationally or logically:
Vast opportunities are present for Nike to enter emerging marketing of Australia by reshaping its offerings. Additionally, the potential amount of scope will be present for Nike to focus on adorable ranges of the product and premium category for making the best use of several kinds of market circumstances(Esteban-Bravo and Vidal-Sanz, 2021).

Figure 2: Growth for Nike in Australian Market over the years
(Source: Google Image)

Conclusion
Summarising the above discursions explored over the ways to make sure about how all the necessary dimensions covered in the ways for creating the specific point of considerations in order define the market objectives for the selected brand. Nike maintains a dynamic and aggressive marketing strategy determining the core perceptions of setting long-term goals and objectives.

Task 3
Introduction
The present section of the study will apply the perceptions of using wide ranges of marketing research techniques for Nike focus towards considering the fact of demonstrating along with creating the necessity of understanding of applying the perceptions of qualitative and quantitative market research techniques for going with a result-oriented business outcome and business plan as per Erkilic(2022). The use of the selected techniques allowed Nike for solving marketing problems by taking corrective decisions.

Applying the perceptions of Qualitative and Quantitative Market Research technique
Quantitative Market Research Techniques adopted by Nike:
Nike relies much on conduction of quantitative research of its market with the aim of proper exploration of changing preference and needs of its customers. Its main focus for this purpose remains on asking questions directly to the targeted audience by maintaining an organised manner by effectively using surveys, polls and questionnaires(Madej, 2019). Nike conductions quantitative survey-based research online by sending its questionnaire to all those existing customers who are signed up through email for completing such electronic questionnaire.Nike uses close-ended questions for identifying style, quality, and design and range preference of existing and potential customers. Moreover, such online surveys help it in identifying new target market for other products based on survey results as the company can apply the survey-based information from customers for incorporating new designs, materials, and quality and range standards in its products (Kotabe and Helsen, 2020). For example, Nike, for this purpose, makes application of online survey apps, email as well as social media-based survey processes, which allows it in understanding overall response of the operational markets towards its products.

Qualitative Market Research Technique adopted by Nike:
Nike, as a market leader in footwear, apparel and accessories products, provides much emphasis on applying qualitative research process for achieving better understanding on its market. Nike mainly uses three types of qualitative market research processes including observation of customerresearch. For example, it appoints some trainers on show in its footwear and apparel stores for observing how its existing customers are reacting to product designs, standard and what their honest opinion is. This direct observation and conversation with in-store customers helps Nike understanding its potential customers preferring existing product range, which can easily fit its target market. Thus, for gaining deeper insights into its market, Nike applies primary qualitative research technique mainly through direct observation and conversation with its in-store customers, which facilitates receiving honest and direct reaction from basically its existing as well as potential customers (Deepak and Jeyakumar).However, the company does not conduct direct interviews of customers. The perceptions of applying the fundamentals of qualitative market research proved instrumentals allowing Nike to identify the customers' exact requirements, clarify marketing messages, and generate ideas for improving the offered products

Conclusion
The above points conceptualised the best ways about how the management of Nike will be able to make use of the best aspects of the current market circumstances and trends for delivering business decisions with creativity and innovation.

Reference List
Brace, I. (2018). Questionnaire design: How to plan, structure and write survey material for effective market research. Kogan Page Publishers.https://books.google.co.in/bookshl=enandlr=andid=mSRTDwAAQBAJandoi= fndandpg=PP1anddq=+market+researchandots=nyrKLxlYUFandsig=CDWrmLT7gA4se6rNf-VZTWtXEjM#v=onepageandq=market%20researchandf=false Deepak, R. K. A., and Jeyakumar, S. (2019). Marketing management. Educreation Publishing.https://books.google.co.in/bookshl=enandlr=andid=_DmvDwAAQBAJandoi =fndandpg=PA1anddq=+market+mangtementandots=u44Zlk7q1fandsig=7Qe_7EEplnd9sson Q2be2yLez4Q#v=onepageandq=market%20mangtementandf=false

Erkilic, G. (2022). 5 Brilliant Nike Campaigns Created With Effective Digital Marketing Strategies. Retrieved 12 February 2022, from https://digitalagencynetwork.com/nike-digital-marketing-strategy/
Esteban-Bravo, M., and Vidal-Sanz, J. M. (2021). Marketing research methods: quantitative and qualitative approaches. Cambridge University Press.https://books.google.co.in/bookshl=enandlr=andid=sSoNEAAAQBAJandoi=fndandpg=PR15anddq =quantitative+market+researchandots=6-biPDKfCEandsig=bzfgq1CIv1lgd8qbInixMwmf99A#v=onepageandq=quantitative%20market%20researchandf=false

Eyada, B. (2020). Brand activism, the relation and impact on consumer perception: a case study on nike advertising. International Journal of Marketing Studies, 12(4), 30-42.https://pdfs.semanticscholar.org/9425/fd5b7a7769ecd2e6a035fac20b6ab72e02f6.pdf

Hague, P. (2021). Market research in practice: An introduction to gaining greater market insight. Marketing assignment Kogan Page Publishers.https://books.google.co.in/bookshl=enandlr=andid=P3RJEAAAQBAJandoi= fndandpg=PP1anddq=+market+researchandots=7zDwwivk6landsig=GuQYxk0cVkCtdJl2uy-MvpBYmyk#v=onepageandq=market%20researchandf=false High-Performance Marketing: An Interview with Nike’s Phil Knight. (2022). Retrieved 12 February 2022, from https://hbr.org/1992/07/high-performance-marketing-an-interview-with-nikes-phil-knight

Kate, M. (2022). What Makes Brands like Nike and Apple so Successful – Big Red Jelly. Retrieved 12 February 2022, from https://bigredjelly.com/blog/what-makes-brands-like-nike-and-apple-so-successful/ Kotabe, M. M., and Helsen, K. (2020). Global marketing management. John Wiley and Sons.https://books.google.co.in/bookshl=enandlr=andid=iDLDDwAAQBAJandoi=fndandpg= PA1anddq=+market+mangtementandots=XJDjXrf0SWandsig=M_p-AotPZSO6RUdB8-AXNgNI2QM#v=onepageandq=market%20mangtementandf=false

Madej, A. (2019). The Role of Marketing Communication In Recognition of The Global Brand: A Case Study of Nike (Doctoral dissertation, Empire State College).
Šeri, N., and Ljubica, J. (2018). Market research methods in the sports industry. Emerald Group Publishing.https://books.google.co.in/bookshl=enandlr=andid=5iJZDwAAQBAJandoi= fndandpg=PP1anddq=+market+researchandots=ews93rCq68andsig=xxb-X4UKLmUdF9C7shLJIQ2_FYc#v=onepageandq=market%20researchandf=false