D. Product Issue:
1. Product Strategy
2. Target Market
Both males and females in between the ages of 18 and 30, who belong in the middle or upper class, and who participate in either an active and athletic lifestyle, or a casual lifestyle, as well as returning customers with a high brand loyalty.
3. Targeting Strategy
Nike adopts many strategies, aimed at their immediate users, athletes and all sportsmen. These targeting techniques include product sponsorship by professional and well known athletic teams, college sports teams and celebrity athletes. This marketing strategy of Nike is particularly successful, due to its ability to reach many athletes. Once a sports team manager lays down a particular kind of track shoes manufactured by Nike, …show more content…
The company does this by associating triumph with its apparel/sneakers. For instance, when a superstar athlete sponsors a particular brand of sports shoes, the shoes will be associated with victory. Such a marketing strategy has psychological effects on its target audience and this effect is reinforced with additional promotions which affirm such associations.
4. Product Positioning
E. Price Issue: What will it cost your customer? How will you/they make a profit?
1. Pricing Strategy (1. Profit 2.a. Sales/penetration 2.b. Sales/skimming 3. Status quo)
2. Actual Price What are you going to charge - wholesalers, retailers; What will end-users pay?
Price research
Wholesale price: $70
Selling price: $120.99
Profit: …show more content…
dancers, those with athletic lifestyles e.g. night time joggers, athletes, fashion-conscious consumers, Strivers, Achievers, overweight/obese individuals, nightclub goers, etc). By ‘achieve a 75% high positive recall rate’, we mean that we hope to influence at least 75% of the members our target market who view/hear our promotions/advertisements, to remember as many positive details as they can, about the Nike Circadian. Positive recall rate is a quantifiable measure of the likelihood that our promotions/advertisements will culminate into sales. The positive recall rate measure has an underlying logic that those who remember a significant amount of positive product features from our advertisements/promotions, are more likely to purchase the Nike Circadian. Our other objectives include the following: We will strive to increase demand for the Nike Circadian, within our target market. We seek to stabilize sales of the Nike Circadian during the Spring and Fall months. Nighttime runners are less likely to go running during Fall and Spring seasons because it is cold outside. We hope to motivate them to dress warm and go running outdoors during these seasons. We also aim to inform our target market about how our product is different from those of our competitors, so that our target market will regard the Nike Circadian as very distinct from the
1. Product Strategy
2. Target Market
Both males and females in between the ages of 18 and 30, who belong in the middle or upper class, and who participate in either an active and athletic lifestyle, or a casual lifestyle, as well as returning customers with a high brand loyalty.
3. Targeting Strategy
Nike adopts many strategies, aimed at their immediate users, athletes and all sportsmen. These targeting techniques include product sponsorship by professional and well known athletic teams, college sports teams and celebrity athletes. This marketing strategy of Nike is particularly successful, due to its ability to reach many athletes. Once a sports team manager lays down a particular kind of track shoes manufactured by Nike, …show more content…
The company does this by associating triumph with its apparel/sneakers. For instance, when a superstar athlete sponsors a particular brand of sports shoes, the shoes will be associated with victory. Such a marketing strategy has psychological effects on its target audience and this effect is reinforced with additional promotions which affirm such associations.
4. Product Positioning
E. Price Issue: What will it cost your customer? How will you/they make a profit?
1. Pricing Strategy (1. Profit 2.a. Sales/penetration 2.b. Sales/skimming 3. Status quo)
2. Actual Price What are you going to charge - wholesalers, retailers; What will end-users pay?
Price research
Wholesale price: $70
Selling price: $120.99
Profit: …show more content…
dancers, those with athletic lifestyles e.g. night time joggers, athletes, fashion-conscious consumers, Strivers, Achievers, overweight/obese individuals, nightclub goers, etc). By ‘achieve a 75% high positive recall rate’, we mean that we hope to influence at least 75% of the members our target market who view/hear our promotions/advertisements, to remember as many positive details as they can, about the Nike Circadian. Positive recall rate is a quantifiable measure of the likelihood that our promotions/advertisements will culminate into sales. The positive recall rate measure has an underlying logic that those who remember a significant amount of positive product features from our advertisements/promotions, are more likely to purchase the Nike Circadian. Our other objectives include the following: We will strive to increase demand for the Nike Circadian, within our target market. We seek to stabilize sales of the Nike Circadian during the Spring and Fall months. Nighttime runners are less likely to go running during Fall and Spring seasons because it is cold outside. We hope to motivate them to dress warm and go running outdoors during these seasons. We also aim to inform our target market about how our product is different from those of our competitors, so that our target market will regard the Nike Circadian as very distinct from the