Marketing mix 4P’s of Nike Company
The use of marketing mix is an excellent way to help ensure that putting the right product in the right place. By marketing mix every company can understand what the product or service can offer and how to plan for a successful product offering. The 4 P’s are place, price, promotion and product. Each element of marketing mix will clearly state the ways how this P’s are working in a organization. The 4P’s of Nike are following.
Product
The min we say Nike the first thing come to our mind is shoes and sports equipment. Nike is well known company in this world. Nike products are basically related to the sports. Moreover, we also can say Nike produces a wide range of sports equipment. The products of Nike …show more content…
Each of the products is very carefully made by the company. For price, according to the product the price have been given. Nike not only produces product for the high class people. Nike also produces products like Nike normal sport shoes and sports equipment for middle class people also. Nike products price basically between RM 150 until RM 2000. More than that, Nike Company also produces the products in other country because of the cost matters also. By produces the products in Vietnam, China and Indonesia the products sell manufacturing cost reduces. That’s why Nike can sell a quality products in low price. Nike uses vertical integration in pricing wherein they own participants at differing channel levels or engage in more than one channel level operations. This is also an attempt to control costs and influence pricing practices. 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.
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It also avails of targeted advertising in the newspaper and creating strategic alliances. Nike has been one of the top retail industries for quite a long time. This is because they sell quality products, customer loyalty, but most of all, its great marketing techniques. Nike has a number of famous athletes to create a great deal of attention to their products. Nike has signed the top athletes in many different sports such as the Brazilian Soccer Team (especially Ronaldino, Renaldo, and Roberto Carlos), Lebron James, and Jermane O'Neal for basketball, Lance Armstrong for cycling, and Tiger Woods for Golf. Sponsoring of events is another great promotional technique for Nike. It brings attention Nike's products. Web sites are a great promotional tool as they cover these events. Such events include Hoop it up and The Golden West Invitational. Nike also personalizes websites. They make the websites exclusively for a sport such as nikebasketball.com, nikefootball.com, and nikegolf.com. Nike is positioned as a premium-brand, selling well-designed and expensive products. Nike lures customers with a marketing strategy centering on a brand image which is attained by distinctive logo and the advertising slogan: "Just do it.” Nike promotes its products by sponsorship agreements with celebrity athletes, professional teams, and college athletic
The use of marketing mix is an excellent way to help ensure that putting the right product in the right place. By marketing mix every company can understand what the product or service can offer and how to plan for a successful product offering. The 4 P’s are place, price, promotion and product. Each element of marketing mix will clearly state the ways how this P’s are working in a organization. The 4P’s of Nike are following.
Product
The min we say Nike the first thing come to our mind is shoes and sports equipment. Nike is well known company in this world. Nike products are basically related to the sports. Moreover, we also can say Nike produces a wide range of sports equipment. The products of Nike …show more content…
Each of the products is very carefully made by the company. For price, according to the product the price have been given. Nike not only produces product for the high class people. Nike also produces products like Nike normal sport shoes and sports equipment for middle class people also. Nike products price basically between RM 150 until RM 2000. More than that, Nike Company also produces the products in other country because of the cost matters also. By produces the products in Vietnam, China and Indonesia the products sell manufacturing cost reduces. That’s why Nike can sell a quality products in low price. Nike uses vertical integration in pricing wherein they own participants at differing channel levels or engage in more than one channel level operations. This is also an attempt to control costs and influence pricing practices. 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.
• …show more content…
It also avails of targeted advertising in the newspaper and creating strategic alliances. Nike has been one of the top retail industries for quite a long time. This is because they sell quality products, customer loyalty, but most of all, its great marketing techniques. Nike has a number of famous athletes to create a great deal of attention to their products. Nike has signed the top athletes in many different sports such as the Brazilian Soccer Team (especially Ronaldino, Renaldo, and Roberto Carlos), Lebron James, and Jermane O'Neal for basketball, Lance Armstrong for cycling, and Tiger Woods for Golf. Sponsoring of events is another great promotional technique for Nike. It brings attention Nike's products. Web sites are a great promotional tool as they cover these events. Such events include Hoop it up and The Golden West Invitational. Nike also personalizes websites. They make the websites exclusively for a sport such as nikebasketball.com, nikefootball.com, and nikegolf.com. Nike is positioned as a premium-brand, selling well-designed and expensive products. Nike lures customers with a marketing strategy centering on a brand image which is attained by distinctive logo and the advertising slogan: "Just do it.” Nike promotes its products by sponsorship agreements with celebrity athletes, professional teams, and college athletic