Marketing Analysis

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?

KEY TAKEAWAYS BEFORE ATTEMPTING THIS ASSIGNMENT

The modern landscape of marketing is constantly changing, with the introduction of new digital technologies and the rise of social media platforms. This essay will analyze the effectiveness of different types of digital advertising, the impact of traditional advertising campaigns, and the role of social media in modern-day marketing strategies in order to gain a better understanding of current marketing trends.

The study conducted by A Sharma, R Dwivedi, MM Mariani, and T Islam published in Technological Forecasting and Social Change in 2022 sought to investigate the effectiveness of different types of digital advertising. The study used an empirical methodology to evaluate the impact of digital advertising on consumer behaviour and decision making. The study found that digital advertising had a positive impact on consumer behaviour, with consumers being significantly more likely to purchase products that had been advertised digitally. The study also suggested that digital advertising was more effective than other types of advertising, such as traditional print or television advertising. In addition, the study found that digital advertising was more cost effective than other forms of advertising, with digital advertising being significantly cheaper than traditional forms of advertising. Overall, the study concluded that digital advertising was an effective and cost-efficient method of marketing, and that digital advertising should be a key part of any successful marketing strategy.

The impact of traditional advertising campaigns has been extensively studied by researchers such as HAM Voorveld and G van Noort (2014). Through their research, they have determined that traditional advertising campaigns can be beneficial to businesses in terms of increasing their reach and driving sales. It has been found that these campaigns are capable of building brand awareness and driving customer engagement, allowing for improved customer satisfaction and increased sales. Moreover, traditional advertising campaigns have the potential to shape customer perceptions and attitudes, allowing for more effective messaging and improved marketing outcomes. In addition, traditional advertising campaigns can help businesses differentiate their offerings from those of competitors and create greater customer loyalty. Despite the many advantages of traditional advertising campaigns, there are also some drawbacks. These include the high cost of such campaigns, the difficulty of creating a successful campaign, and the risk of not achieving the desired results. However, the potential benefits of traditional advertising campaigns far outweigh the risks, making them an important tool for businesses looking to increase their reach and drive sales.

The rise of social media has revolutionized the way that businesses communicate with their customers, and as a result, it has become a vital part of modern-day marketing strategies. A 2018 study by H Lee, KR Place, and BG Smith, published in the Public Relations Review, examined the role that social media plays in these strategies. The study found that businesses are increasingly relying on social media to reach their target audiences and to build brand awareness. Social media also provides businesses with a platform to engage with their customers, allowing them to create a more personal connection with their audience. Additionally, businesses can use social media to collect customer feedback and insights, which can be used to inform their marketing strategies and improve customer satisfaction. Overall, this study demonstrates that social media has become an indispensable tool for businesses looking to engage with their customers and maximize their marketing efforts.

To conclude, a marketing analysis is an essential tool for businesses to have in order to assess their current and potential marketplace and successfully obtain the most return on their investments. A company should use their results to stay ahead in the competition and make strategic decisions for the future of their business. While the process does require some research and preparation, business owners should recognize the investment of their time, money and effort in marketing analysis as vital for their organization’s growth and success.

Work Cited

H Lee., KR Place., BG Smith.”Revisiting gendered assumptions of practitioner power: An exploratory study examining the role of social media expertise.”https://www.sciencedirect.com/science/article/pii/S0363811117302862

HAM Voorveld., G van Noort.”Social media in advertising campaigns: examining the effects on perceived persuasive intent, campaign and brand responses.”https://journals.sagepub.com/doi/pdf/10.1177/0973258614545155

A Sharma., T Islam.”Investigating the effect of advertising irritation on digital advertising effectiveness: A moderated mediation model.”https://www.sciencedirect.com/science/article/pii/S0040

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