Marketing Final Project-Nike.docx - 1.Discuss the brands marketing management philosophy or orientation in terms of the four listed in Chapter

Marketing Final Project-Nike.docx - 1.Discuss the brands...

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Unformatted text preview: 1.Discuss the brand’s marketing management philosophy or orientation in terms of the four listed in Chapter 1 (production, sales, market, and societal). What do we understand by marketing? Lamb, Hair, and McDaniel (2013) state that “first, it is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. “Second, marketing is activities and processes used to implement this philosophy” (p. 20). Nike is one of the most popular brands all over the world. Nike has a philosophy that clearly identifies their brand. Nike’s “Just do it,” and mission statement “To bring inspiration and innovation to every athlete” are the basis of Nike’s philosophy. Lamb, Hair, and McDaniel (2013) state that there are four competing philosophies that influence the marketing processes of organizations and these are: “production, sales, market and societal marketing orientations” (p. 4). Production orientation philosophy focuses on the internal capabilities of the firm; what can we do best? What can our engineers design? Sales orientation is based on the idea that “people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits (Lamb, Hair & McDaniel, 2013, p. 5). Market orientation emphases customer’s decisions to purchase the products or services. It is important for companies to study and analyze information about customers, competitors, and markets. Finally, societal marketing orientation focuses on satisfying customers’ needs and wants. Nike is a company which has been very successful when determining and using these four factors. When it comes to production orientation, Nike has a guide called the “11 maxims” which is used to guide their employees. They motivate everyone in the organization to deliver high quality and superior value for their customers, leading to high levels of customer satisfaction. Nike also focuses and analyzes all external factors which involve and affect the company in order to improve and deliver a superior customer value. Nike shares an absolute dedication to sensing, serving and satisfying the needs of customers in well-defined target markets. 2.Discuss your brand’s mission statement strategic objectives, external and internal strengths and weaknesses, opportunities and threats, and/or competitive advantage. Nike’s way of promoting its products is always faithful to its principles. Looking further, the message that Nike tries to transmit by promoting its products is always the same, “Just do it.” Nike encourages people to not stop practicing sports because of the fear of laziness; they encourage people to just do it and Nike will help you in this step to do it. They will also help you if there are negative consequences such as getting injured. The article called “Nike Channels Its Brand With New 'Badge Of Honor' Campaign In China,” explains, shows, and exemplifies the admirable way in which Nike does its branding. Burns (2017) states that Nike implements very creative ways to channel their brand, in this specific case “It was, "How would Nike - given its brand idea of 'Just do it' - disarm parents about the dangers of sports while encouraging kids to play?" (para. 7). Nike always focuses on their brand and this is their way to channel their brand and make Nike unique and one of the most liked brands in the world. Nike’s logo, slogan and even its mission statement are known all around the world. As Burns (2017) points out, they “don't just brand the channel, channel the brand” (para. 8). As it has been said before, behind Nike’s products and marketing strategies, there is a unique philosophy that distinguishes its products from any other products of its competitors. Nike’s “Just do it,” or “To bring inspiration and innovation to every athlete* in the world,” “*If you have a body, you are an athlete,” might seem insignificant to some people, but they bring motivation and inspiration to all different athletes and non-athletes, and this leads them to purchase Nike products. Pysh (2017) states that Nike has different competitive advantages which are “Branding, bargaining power, and pricing power” (para. 7-9). The fact that Nike contracts the manufacture of its products to low wage countries within Asia, allows them to increase their gross margin and play with a competitive advantage compared to their competitors. Moreover, Nike’s clear philosophy and branding strategy has allowed the company to be known all over the world. Nike has established such a close relationship with its customers that most of them will always purchase Nike products no matter the price. This gives Nike a competitive advantage when it comes to pricing power over other sports companies. Although Nike is a successful company which has a very good position in the market, it also has threats from its competitors. Companies such as Under Armour are companies that can put the fear in Nike since they are becoming very popular among the population. Williams (2015) states that “While Nike’s fierce competition can’t be ignored, the latest information shows that year-to-date, Nike’s continues to dominate in the shoe category” (para. 8). Nowadays, Nike also faces another threat which is related to Amazon. Cook (2017) explains that due to Amazon popularity growth over the last few years, “Nike is expected to begin directly selling its products on Amazon” (para. 2). For customers it is much easier to buy products through the internet since they do not need to move from home and they have the opportunity to return it in case they do not like it or it does not fit them. This fact threatens with killing stores. 3. Talk about specific ways in which your brand uses social media to communicate with consumers. Social media is becoming an important factor in today’s society. Nowadays, the majority of people use social media networks on a daily basis. This is why social media has become a key factor that companies might want to use to promote themselves and create brand awareness among the population. Nike uses social media very efficiently when it comes to marketing their products and establishing a close relation between the company and its customers. Although it may seem easy to just promote products on social media, it is not. Companies need to have a good marketing strategy that is able to engage and catch the customers attention. Carlini (2016) states that when Nike uses social media it “focuses on the design and show how every single product is like a science experiment in the way that it is put together” (para. 1). By using this strategy, Nike tries to let people see that they are offering them the best type of products. Another key point that Carlini (2016) points out about Nike’s social media marketing is the fact that, for example, on Facebook “they have separate pages and platforms for different sports and activities” (para. 2). This shows to the customers that although Nike is a huge company, it also focuses on each sport deeply which helps to also create this close relation with its customers. Twitter is another social network through which Nike likes to advertise and promote their products. Pride (2017) explains that Nike is the company that, for example, on twitter, “dominates both from an audience standpoint as well as with the most engaging social content” (para. 6). By using hashtags and themes, Nike is able to build a lifestyle and sense of community. Instagram has become one of the most popular social networks, especially among the young population. The company focuses their Instagram efforts on lifestyle branding; they use motivational, short, and stunning sentences that are able to motivate and engage people. They do not just promote their products, they encourage and motivate people to do things, and to fight for their goals. They sometimes use celebrities who use their products to clearly show what their philosophy is. Nike is about motivation, courage, bravery, and passion. It is because of all the things that Nike is able to transmit to the people through its philosophy that it is one of the most successful companies in the world. References Burns, W. (2017, June 08). Nike Channels Its Brand With New 'Badge Of Honor' Campaign In China. Retrieved October 24, 2017, from Carlini, J. (2016, July 27). Nike. Retrieved November 14, 2017, from Cook, B. (2017, June 22). Amazons Reported Nike Deal, Wardrobe Service Latest Blows to Sporting Goods Retailers. Retrieved November 14, 2017, from Lamb, C. W., Hair, J. F., & McDaniel, C. (2013). Marketing. Mason, OH: SouthWestern/Cengage Learning. Pysh, P. (2017, October 21). The Intrinsic Value Of Nike. Retrieved November 14, 2017, from Williams, G. L. (2015, September 23). Nike Up 20% This Year & Analysts Expect Slam Dunk Earnings Tomorrow. Retrieved November 14, 2017, from ...
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