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1.Manage marketing performance2.Manage marketing personnel3.Evaluate and improve strategic marketing performanceImagine you are the manager of a marketing effort for a new brand ofathletic shoes.You are tasked with creating and managing the marketing effort, as well as the personnel involved. During this process, you are required to gather data for evaluation and improvement of strategic marketing performance.Create a plan for the marketing effort and your management requirements. You will need to consider the following:Communication requirementsLegislation, codes of practice and national standardsEconomic, social and industry directions, trends and practicesOrganisational structures, roles, responsibilities and policiesIndustry product and service knowledgePrinciples of marketing, strategic analysis and strategic managementStatistical and data evaluation techniques to measure marketing
P a g e | 80performance.Executive Summary This report is all about to show Marketing plan for Nike’s products compare to older offerings the report shows the plan that how can Nike offer new products in the market. With respect to this the report contains complete marketing plan mechanisms including company analysis (Nike’s current and future status), situation or market analysis and competitors analysis; the report shows the Nike’s objectives and marketing strategies that is it is shown that Nike can offer and increase its product range by offering other related products as aerobic products to its customers and set value-based pricing strategy accordingly, and for new offerings it can increase its other media other than commercials that is it can focus more on social media to promote its new products and it may expand its business in other countries as China, Middle-East etc. Beside this, the financial budget of this marketing plan has been discussed which is been forecasted by reviewing Nike’s previous years revenue and marketing expenses figuresMission & Vision Statement Mission Statement ‘To bring inspiration and innovation to every athlete in the world’ If you have a body, you are an athlete. Vision Statement ‘The Nike goal is to carry on his legacy of innovative thinking, whether to develop products that help athletes of every level of ability to reach their potential, or to create business opportunities that set Nike apart from the competition and provide value for our shareholders.’ Market Trends and Evolution Nike’s initial product advertising strategy of using professional athletes for increasing demand was through word of mouth and also
P a g e | 81provides the good publicity. Nike changes its target market from teenagers to younger consumersdue to intense competition with Adidas and Reebok and also to expand its target market. During the time of recession consumers was willing to pay on that brand because Nike having superior quality, style and reliability.