Stronger competition from companies waging stronger campaign ads and developing higher quality products As a global brand, Nike may experience losses from the international nature of trade and dealing with multiple currencies Nike may face reputation damage from labor law violations in Vietnam and Indonesia Competition Key Competitors Asics Mission Statement. ASICS, an acronym derived from the Latin phrase, Anima Sana In Corpore Sano - a sound mind in a sound body. Staying true to the philosophy by which it was founded, every ASICS innovation, every concept, every idea is intended to create the best product. Our mission is to become the number one brand for the sports enthusiast. To accomplish this, we pledge to continue to make the best product; striving to build upon our technological advances and pushing the limits on what we can learn from the body and its needs in athletic gear. We pledge to bring harmony to the body and soul. (About Asics, n.d.) Reebok Mission Statement. Always Challenge and Lead through Creativity. At Reebok, we see the world a little differently and throughout our history have made our mark when we’ve had the courage to
NIKE GLOBAL NEW PRODUCT MARKETING PLAN 15 challenge convention. Reebok creates products and marketing programs that reflect the brand’s unlimited creative potential. (Company Information, n.d.) Saucony Mission Statement. At Saucony, we exist for runners. Runners inspire us, bring us new ideas, force us to be better. They drive our design and engineering. They keep us competitive. They keep us hungry. They keep us honest. Whether it’s in a conference room or out on a lunchtime run, we’re constantly talking about and arguing about our sport, runners and the products that fuel them. We love our products and we run in everything we make. This focus and passion fuels us as we strive to create the best running shoes and apparel on the planet. We leave work each day knowing we’ve done everything to make runners’ lives just a little bit better. At Saucony, a good day is when we get to run. A great day is when we inspire someone else to run. (About us, n.d.) Under Armour Mission Statement. Under Armour's mission is to make all athletes better through passion, design and the relentless pursuit of innovation. (About Under Armour, n.d.) Strategic Recommendations Market The North American market accounts for 55% of Nike’s revenue. The United States market is continuing to grow, especially in the target market of 16-30 year old individuals. Nike currently has a 9.5% market share. The recommendation is to raise the market share to 11% by marketing the AKC heavily to the target market. (Nike’s North American Revenue, 2018)
NIKE GLOBAL NEW PRODUCT MARKETING PLAN 16 Competition The AKC sensor system will be patented so Nike will be the only brand available to consumers. Recommend Nike market this as “Nike is number one again in innovation” or “Nike has no competition in innovation.” Promotion Nike research has found that the target market of 16-30 year old people take an active role in developing personal style and appearance based on celebrities and sports stars. The
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- Spring '19
- Marketing, Athletic shoe, Nike, Inc.