Marketing Excellence

 

Marketing Excellence: Nike (pp. 30-32)

Read pages 30-32 of your textbook (Nike) and respond to the following questions.

Marketing Analysis

1) How has the industry in which Nike resides been doing over the last 5 years?

2) What are the pros, cons, and risks associated with Nikes core marketing strategy? How have they managed to develop a strong customer relationship with their target market?

3) Who are the top three competitors of Nike, and what are their advantages/disadvantages with respect to their product/service development?

4) Looking at the competitors you discussed in question #3, what would you recommend as being the next steps for these competitors and subsequently the next steps for Nike to combat these competitors?

Please submit a 6-page (including title and reference page) double-spaced paper, 12 pt font that illustrates your learning and application from this course on the following. Utilize and cite a minimum of 3 articles written within the last 5 years from well- respected or peer -reviewed business sources in addition to the textbook and supporting materials from the course. APA format 7th Edition should be used.

REQUIRED TEXT

Marketing Management by Philip T. Kotler and Kevin Lane Keller, 15th Edition, 2014, Pearson Publishing, ISBN: 978-0133856460

KEY TAKEAWAYS BEFORE ATTEMPTING THIS ASSIGNMENT

Nike has cultivated a powerful global brand and achieved tremendous success as a result of their marketing excellence. This essay will explore three topics related to Nike’s success: analyzing Nikes strategies and tactics for achieving marketing excellence, exploring the cultural impact of Nike’s successful global brand, and examining the role of innovation in Nike’s marketing excellence strategies. By examining each of these topics, we can gain a greater understanding of the factors that have contributed to Nike’s success.
According to the research conducted by R L. Irwin, D Zwick, and W A. Sutton in their article from the European Journal of Marketing in 1999, Nike has become a leader in the field of marketing excellence by utilizing a variety of tactics and strategies. Through the use of a strong brand identity, Nike has been able to create a unique and recognizable presence in the market. This brand identity has been further strengthened by the company’s commitment to creating innovative product designs and engaging in effective promotional campaigns. Additionally, Nike has successfully implemented various marketing tactics that have enabled it to reach a wide range of customers. For example, the company has utilized digital marketing and social media platforms to effectively target and engage with a variety of demographics. Furthermore, Nike has employed a number of strategies to ensure that their products are widely available and accessible throughout the world. By employing these strategies and tactics, Nike has been able to achieve remarkable success in the marketing field. (Irwin, Zwick, & Sutton, 1999).
Nike has become one of the most successful global brands in the world, and their success has had a major cultural impact. MS Roth’s 1995 Journal of Marketing Research argues that Nike’s success is due to their effective marketing strategies that take into consideration cultural values and norms in different countries. This is evidenced by the way Nike tailors its advertising campaigns to different countries, using local language and culture to connect with local audiences. Additionally, Roth suggests that it is important for brands to adapt to cultural changes, such as the growing influence of the internet and social media, in order to remain successful. This is illustrated by Nike’s use of digital marketing campaigns, such as the recent “Dream Crazy” campaign, which resonated with people around the world. The success of Nike’s global brand is a testament to their understanding of the cultural impact of their products and the importance of adjusting their marketing strategies accordingly. (Roth, 1995)
Nike is renowned for their marketing excellence, and a 1999 study published in the European Journal of Marketing sought to examine the role of innovation in this success. R L. Irwin, D Zwick, and W A. Sutton conducted a case study of Nike’s strategies and found that the company had a clear focus on innovation. Nike’s marketing team identified the need for innovative products and services and then used creative marketing strategies to promote these items. The research also noted that Nike’s advertising campaigns were developed with a focus on customer engagement. Nike’s marketing team was able to create highly successful campaigns that resonated with customers and ultimately drove sales. Furthermore, the study found that Nike’s commitment to innovation and creativity enabled them to maintain their reputation as a leader in the industry. The findings of this study demonstrate that innovation plays an integral role in Nike’s marketing excellence strategies. (Irwin, Zwick, & Sutton, 1999)
Nike has demonstrated a continued commitment to marketing excellence, utilizing innovative strategies to create engaging campaigns that achieve success. Their campaigns engagingly demonstrate how their products can bring value to their customers’ lives. This commitment extends to their collaboration with top athletes and athletes of all levels to create winning stories for customers to rally around. Nike’s success demonstrates the effectiveness of creating an integrated marketing strategy focused on the customer, building an affinity for their brand, and maximizing goals through the use of digital channels and technology. Through marketing excellence, Nike continues to drive sales and generate strong brand loyalty.
Work Cited
MS Roth.”The effects of culture and socioeconomics on the performance of global brand image strategies.”https://journals.sagepub.com/doi/pdf/10.1177/002224379503200204
D Zwick.”Assessing organizational attributes contributing to marketing excellence in American professional sport franchises.”https://www.emerald.com/insight/content/doi/10.1108/03090569910253080/full/html
D Zwick.”Assessing organizational attributes contributing to marketing excellence in American professional sport franchises.”https://www.emerald.com/insight/content/doi/10.1108/03090569910253080/full/html
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