Nike: Marketing Strategy of Nike
Nike Incorporated is an American multinational
company that plans makes sells and markets shoes clothes equipment accessories and services all
over the world Nike is a big name in The World of Sports in its 2020 fiscal year the company made
more than $37.4 billion in sales and employed 76,7 people around the world as of 2020 the Nike
brand alone is worth $32 billion making it the most valuable company in the sports business in
2017 the Nike brand was worth $29.6 billion and in 2018 mik Corporation was ranked 89th on the
Fortune 500 list of the largest US companies by total income Nike has a market share of 38.2 3%
Nike's target audience the people Nike wants to reach are between 15 and 40 years old the Brand's
main customers are teenagers who look up to great athletes but nikee also markets to middle-aged
people so that its success will spread to younger people for example parents in their 40s who like
sports can encourage their kids to live an active life Mikey knows that their goods are more likely
to appeal to people who are always on the go and live an active lifestyle this is why they focus
on this group of people when they advertise and sell their newest albums mik tells its customers
that its products aren't about making you look good as an athlete but about making you feel
good this is how it divides up different kinds of activity because sports are so different from
one place to the next Nike's marketing plan is heavily based on geography for example Nike
couldn't Market to football players in India Finland or the Philippines because football isn't
nearly as famous there as it is in Mexico England or Australia Mike's marketing strategies Mike's
marketing team plans and acts in a very smart way then you'll how to get the most most out of
the four Ps of marketing product price promotion and place by using a good mix of these things
Nik can attract more possible customers which will lead to more sales for the company price
nik's Goods tend to be more expensive but this doesn't bother customers because Nike knows how
to Market and advertise in a way that shows how great their products are this is very important
for customers because it lets them know what they are paying for place the Brand's goods are also
sold by independent resellers and retailers which has helped to boost sales but the brand has added
online stores and physical sites to its list of places to buy its products product Nike has a long
history of making highquality fashionable products which is not always the case with other names and
Nike is proud to keep this image that has worked hard to earn promotion each of Nike's marketing
campaigns is carefully made to reach a specific group of people even if if they have different
demographics and psychographics what makes Nike's marketing and campaigns different Nike is a
well-known name in The Sports World and a big reason for that is the way it markets itself mik
has set itself up as a good and aspirational brand by appealing to people's goals Comfort levels
and cultural values this has made it become a huge success all over the world with its just
doit slogan and swo image it has reached millions of people what makes Nike a great brand is its
clever set of marketing strategies Nike didn't become successful by chance they worked hard
to build a loyal customer base by using certain strategies let's look at what they did to do it
personalization customers choose highquality items that offer big benefits things that help them on
their own are reasons to them personalization is Nike's main Edge in the market it markets itself
as a high-end exercise brand by combining Cutting Edge technology with human psychology in order
to get more customers with the Nik BYU product line people can change the color of their shoes
in 2018 the newest technology made it possible for customers to use their phones to look at their
feet and get the right shoe size its concept shops which take shopping to a higher level give
customers amazing shopping experiences if you give your customers a personalized shopping
experience 77 % of them will pay more and tell their friends about you value propositions the
company's unique value offer is one reason why 40% of customers choose Nike over competitors it
markets its goods by emphasizing a healthy way of life it encourages people to live a busy life
and sells its shoes as the best way to do that nik's running free campaign was so successful
that they quickly made a running free line to get people moving the marketing approach got a
lot of people interested in the product and made more people aware of the brand if you look at some
of Nike's older ads you can see that the company has been using this approach for decades it made
jogging a trend came up with a fitness routine to sell its gear and turned its shoes into a fashion
statement to boost sales let's now look at this question Mike's marketing strategy heavily relies
on geography because a it focuses on selling its products only in certain regions B it adapts its
marketing to suit different sports in different countries C it targets only specific age groups
in different locations D it promotes its products in different languages based on the region write
your answers in the comment section below brand Equity Mike is one of the few companies that has
been at the top for a long time this is because it has a strong name it has established its place
in the sports Market by building a strong brand a unique personality and a trustworthy image
since its beginning in 1964 Mike has tried to be linked to things like inspiration success
and new ideas to do this they started with a unique brand name and image they chose the name
of a Greek goddess who stands for victory and the swoosh logo which stands for Speed it worked
with well-known athletes to boost the value of its products and ran ads that inspired people to
buy its goods millions of people use its image as a sign of their social standing your brand Equity
makes people think that your goods are worth more it lets you improve the image of your brand and
charge more for your goods storytelling the most important part of Nike's marketing approach is
advertising that tells a story and makes people feel something it's how it first got people's
attention built its image and still shows what the brand stands for today when Nik first started
its just to do it and in 1988 it told the story of 80-year-old marathon runner Walt Scott in a
simple way it's still uses the ad which was one of its most successful ways to get people to buy
its products it's what our girls made of Campaign which pushed sports for women got 3 million views
because of its positive message its find greatness ads helped it get 55% more members and make $56
million more money the two examples of above are just two of many Nike uses social and sometimes
controversial topics to get people's attention and get them to act relevance is an important part
of promoting and Nike makes sure to include this in their marketing efforts if people can connect
to the main idea and moral lesson of the ads the message will stick with them it's one of its most
successful tactics and has made a big difference in how people think of the brand it is now the
main way it markets itself in endorsements most of the time Nike sells its sports gear through
sponsorships and endorsements it spends billions on sponsorship deals with well-known players and
sports teams to get its name out there in Nike's marketing plan famous people and people who have a
lot of impact are important by working with people who have been down the same road as the brand
communication about the company will be improved the brand gives money to certain competitors this
is because people look up to those who have been through hard times and come out on top Tiger Woods
a big name in Gulf and the company signed a deal in 1996 that made the brand worth $22 million more
after just one game it has 4.5 million members and makes a lot of money on its own because it has a
deal with Tiger Woods its well-known relationship with Michael Jordan is another great example of
how well its advertising strategy has worked to date it has made an average of four billion dollar
per year from this strategy the value of mik's brand is also helped by endorsements because
it was linked to NFL star Colin Kaepernick all of its true to seven shoes sold out in just a few
hours large amounts of money for events or leisure activities get your name in the media and let you
talk to people in person which you can't do with online marketing product Innovation people often
say that Nike's product strategy works because it focuses on making things better and improving
performance the company thinks about what its customers want and changes its features to fit
the current trends because of this its customers almost always have good things to say about the
items it sells Bill Bowerman who started the company was a track and field teacher who wanted
to make Souls that might help runners run faster his study led to the moonshoe which showed that
people wanted shoes that were light nikei also adds different things to its products to to stay
ahead of the competition it has both fashion and athletic clothes because of this approach
the size of its Market has grown and has also attracted New Market categories every year Mike
makes its goods more valuable by coming up with new designs because of this its products are very
high quality and new e- retailing as a well-known retailer around the world mik depends a lot on
bulk sales but if you look closely you'll see that it has put a lot of money into its systems
for selling directly to Consumers because they offer a better profit margin and also make it
easier to build relationships with customers since many years ago mik has always offered its
products through reputable stores like Macy's and Urban Outfitters but as online shopping grew
in popularity it learned about the benefits of direct to consumer marketing and shifted its
focus to e-commerce sales since then its d2c sales have gone from 15% to 30 8% it changed its whole
marketing strategy in 2017 and started cutting ties with a number of important Partners to focus
on its stores and online shops as a result of the move it gained millions of customers through
its shopping app and online stores M promises that shopping online will be easy fun and
stress-free M's online shopping site has a lot of great features bold branding on websites
smart products suggestions detail oriented product filtering loyalty programs at the moment Nike
thinks that internet channels will make up 50% of its sales marketing on social media by far the
most people follow Nike on social media because it is the most well-known brand in the world
most of what it posts gets good comments from its followers and about half of what it tweets is
shared more than once look at Nike's social media pages to see how much the company has has grown in
popularity on Twitter 9.7 million people follow it and on Instagram 279 million people do these are
the two sites with the most followers across all social media sites more than 300 accounts are kept
up to date many big companies do have power over a lot of sites but Niki takes it a step further by
making different pages for its products different types of customers and different parts of
the world this lets it quickly create ads that reach the right people and send them to its
product websites it keeps its fans very happy by giving them interactive tasks by making programs
like the chance and fuel your team Nike connects directly with its fans gets a lot of attention
and grows its reach Mike's plan for marketing on social media includes the following collaborate
with well-known people participate in consumer conversations using user generated material share
your stories on different social media sites most of Nike's social media strategies are not that
different from those of other big companies it has only been able to build a stronger online
footprint by using tools for interacting on social media so if you want to use Nike's marketing
strategies you need to figure out who your target audience is how to reach them and what they need
from you also remember to sell ideas not things
