1.0 Introduction
This report discusses how successful organizations use marketing mix elements in order to increase the revenue of their business, therefore the researcher has chosen the company NIKE, Inc. to explain the above. The researcher shall give an introduction about the company and then give a detailed analysis on why marketing is important in a business and how NIKE, Inc. applies the 4 P’s of marketing in order to escalate their revenue. The Chartered Institute of Marketing (2009, p.2) defines the recognizing and satisfying of the consumers’ needs in a profitable way as marketing. Marketing Mix (no date) states that one of the greatest contributions towards the field of marketing, the 4P’s (Product, Price, Promotion and Place) also …show more content…
Existing products must be upgraded frequently and innovative products must be developed in order to satisfy the change in customers demand over time to bring in more sales, in turn increasing the value of the firm (Madura, 2007, p. 289).Cable News Network (2015) enlighten that NIKE’s athletic footwear products are targeted mainly towards professional athletes, although they are worn for casual and leisure …show more content…
Gregory (2015) states that NIKE’s aim in advertising is to influence a large amount of their target market creating the biggest impact possible. Kalb (2011) reveals that NIKE’s major success in attracting consumers is due to their two weapons: the Nike Swoosh logo and the endorsement of famous athletes. According to Mind Advertising (2013) NIKE has outrivaled its competitor Adidas and heightened its grip on the global soccer market by effective marketing campaigns. The NIKE swoosh logo is made prominent to the public by exposing it on uniforms and sports gear of athletes daily in the sports sections on newspapers, blogs and TV coverage of sports events, building trust between the consumers and the brand (Kalb,
This report discusses how successful organizations use marketing mix elements in order to increase the revenue of their business, therefore the researcher has chosen the company NIKE, Inc. to explain the above. The researcher shall give an introduction about the company and then give a detailed analysis on why marketing is important in a business and how NIKE, Inc. applies the 4 P’s of marketing in order to escalate their revenue. The Chartered Institute of Marketing (2009, p.2) defines the recognizing and satisfying of the consumers’ needs in a profitable way as marketing. Marketing Mix (no date) states that one of the greatest contributions towards the field of marketing, the 4P’s (Product, Price, Promotion and Place) also …show more content…
Existing products must be upgraded frequently and innovative products must be developed in order to satisfy the change in customers demand over time to bring in more sales, in turn increasing the value of the firm (Madura, 2007, p. 289).Cable News Network (2015) enlighten that NIKE’s athletic footwear products are targeted mainly towards professional athletes, although they are worn for casual and leisure …show more content…
Gregory (2015) states that NIKE’s aim in advertising is to influence a large amount of their target market creating the biggest impact possible. Kalb (2011) reveals that NIKE’s major success in attracting consumers is due to their two weapons: the Nike Swoosh logo and the endorsement of famous athletes. According to Mind Advertising (2013) NIKE has outrivaled its competitor Adidas and heightened its grip on the global soccer market by effective marketing campaigns. The NIKE swoosh logo is made prominent to the public by exposing it on uniforms and sports gear of athletes daily in the sports sections on newspapers, blogs and TV coverage of sports events, building trust between the consumers and the brand (Kalb,