The 4p’s of Nike Marketing Plan
The 4P’s Of Nike Marketing Plan (i)Product •Nike offers a wide range of shoe, apparel and equipment products, all of which are currently its top-selling product categories. •Nike started selling sports apparel, athletic bags and accessory items in 1979. Their brand Cole Haan carries a line of dress and casual footwear and accessories for men, women and children. •Nike’s foremost focus is athletic footwear and apparels designed for sports and everyday usage with the brand name.
•The production facilities are located close to the raw material to have low labor prices. New product offerings under the name of brand include sport balls, timepieces, eyewear, skates, bats, and other equipment designed for sports activities. •The most famous product categories of Nike includes running, basketball, cross-training, outdoor activities, tennis, golf, soccer, baseball, football, bicycling, volley ball, wrestling, cheerleading, aquatic activities and other athletic and recreational use. •Moreover, they also utilize the auxiliary bodies to sell te sports related raw materials and products including Cole Haan Holdings, Nike Team Sports, and Bauer Nike Hockey. ii)Price •Nike’s pricing is designed to be competitive to the other fashion shoe retailers.
The pricing is based on the basis of premium segment as target customers. Nike as a brand commands high premiums. Nike’s pricing strategy makes use of vertical integration in pricing wherein they own participants at differing channel levels or take part in more than one channel level operations. This can control costs and influence product pricing. •The company has designed its pricing structure in a way to make it competitive to other shoe sellers.
The price of the products is variable depending on the type and the size for example a comfortable and good pair of shoes would cost from 70 to 150 dollars. (iii)Placement •Nike shoes are carried by multi-brand stores and the exclusive. •Nike has its individual stores and also available at major malls and departmental stores selling shoes all over the globe. •They have more than 20000 retailers in United States and also in other 200 countries. •The companies also sell its products through individuals, auxilianes and licensees.
The company has its own production units, customer services and operational units in all over the world. •Nike sells its products through independent distributors, licensees and subsidiaries. Independent distributors need not adapt to local pressures because the 4Ps of marketing are managed by distributors. (iv)Promotion •The company has used electronic media (commercials, official website of Nike and newspapers) to promote their brand. •Promotion is largely dependent on finding accessible store locations. It also avails of targeted advertising in the newspaper and creating strategic alliances.
Many well known athletes have also worked for the advertisement of brank like Brazilian Soccer Team. •Nike also sponsors events such as Hoop It Up and The Golden West Invitational. Nike’s brand images, the Nike name and the trademark swoosh; make it one of the most recognizable brands in the world. •Nike’s brand power is one reason for its high revenues. Nike’s quality products, loyal customer base and its great marketing techniques all contribute to make the shoe empire a huge success.
•The brands swoosh logo and image played an important role in its advertisement.