Advertising and promotional strategies needs to be reviewed Sponsoring of the events should be continued along with the celebrity endorsements who fetch more for Nike as a brand. Marketing Information System: Nike should make extensive usage of IT and apply the same in the areas of innovation, segmentation and differentiation of the businesses. Signing agreements for business solutions is additional strategy which Nike could catch up on.
Product Life Cycle: Nike’s PLC can be analyzed by their design to the manufacturing phases, post usage of the consumers and the final disposal. Regrind is what the company makes use of by following the backward integration method of marketing. The product life cycle has reached the stage of going GREEN which reduces waste, minimizes on the energy, transportation and water consumption costs. IV. Key Recommendation
Nike must strengthen its partnering capabilities by partnering with other company departments to use the value chain in designing, producing, marketing, delivering to build and support a strong customer relationship base. ? Product development and diversification in certain places can be looked by Nike to capitalize on the new markets and the current products as market development and market penetration Nike continuously have to cater to. ? Nike has
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For developing life long sustainability, Nike should concentrate on Product environmental impact, life cycle assessment and green labeling involving software to make the technology faster and stronger. ? Nike needs to strive and continue their efforts in expanding their product lines by advancing in the athletic shoe technology. ? Reviewing on the existing product line and modifying if the needs of the consumers are not maintained is a necessity. Utilization of Money, Man, Material, Methods and machines must be critically used by Nike.
Untapped international markets need to be catered, to increase sales. Marketing research on the customers, business processes and technology is a must requirement on periodic basis.
References: Answers. “Nike Inc. ” Answers Corporation. 2008. 3 Nov. 2008. http://www. answers. com/topic/nike-inc Bloor, C. “SWOT Analysis. ” Business Momentum Secrets. 2008. 2 Nov. 2008 http://www. businessmomentumsecrets. com/2008/02/25/swot-analysis-by-chris-bloor/ Cuizon, G. “Audit on Nike’s marketing strategies.
” Hub Pages. 2008. 1 Nov. 2008 http://hubpages. com/hub/Marketing-Audit-of-Nike Porter, J. et al. “International Business Management. ” UCLA Computer Science Department. 2002. 1 Nov. 2008 http://www. cs. ucla. edu/~gavin/pub/IntlBusMgmtNike. pdf P2pays. “Going Green? Nike, Just Do It. ” 2008. 5 Nov. 2008. http://www. p2pays. org/ref/26/25326. pdf RapidTransform. “Apparel Product Lifecycle Management – Nike, Inc. ” 2008. 6 Nov. 2008. http://www. rapidtransform. com/w/node/5