Nike Case Study Essay Explores Marketing Objectives And Planning Process.

Discuss about the Fundamentals of Marketing. The element of expansion of product is being done which is to provide ample means for the development of a product or renovating a product with the existing market plan. The development of the product is being followed by the new entry of the product into the new market.

Marketing Objective

The way in which the business is done by the promotion of a particular product or service to meet with the needs of the customers and build relationships is termed as marketing. Marketing is one of the pivotal means for the creation and satisfaction of the customers though the various concepts of business management process. The aim of marketing is to formulate an activity plan for the associative findings of the product and services meant for the communication and values of the customer. Marketing is one of the major process through which the consumers have an image of the product or the organization and through which the business of the organization. The overall analysis of the marketing is attributed to the fact that the image of the company is built through the analysis of marketing. Therefore, marketing is surely one of the most important parts for the process of business that helps to flourish with the help of the exchange of relationships between the consumer and the organization.

The aim of the study is to trace the objectives of marketing for Nike. There are a number of planning process and philosophies essential for marketing process that are essential for the marketing technique for the company. The overall marketing audit for the company has been discussed which relates to the background of the study as well as the mission of the overall plan.

The marketing objectives of Nike are as follows –

• Financial Objectives - To increase business and create profit for the shareholders of the organization along with sales of the company at a rapid rate
• Strategic Objectives - To innovate products that are there for the betterment of the athletes all over the world
• Communication Objectives - To retain employees in the organization for the betterment of growth in the aspects and to analyse the recommendations for the challenges in the organization.

In the above diagram, the 3x3 matrix represents the typical nine factors for the process of B2B marketing process have been stated. The marketing for a product or service totally depends on the type of market in which the expansion is being done which is again variant on the new or the existing type of market which is present. The diversification of the product is being done which is one of the most potential case in the matter if turn. The entry of the new marketing force for the strategies as well as for the development of market is to be reckoned with the company while expanding into the market. The aspect of market diversification is one of the prime aspects in the marketing strategy which means that the existing market as well as the product image is implanted in the mind of the people. The strategy related to the market expansion is included in the fact which means that the expansion of a new market with an existing line of product which is there. The whole strategy of market expansion can be done along with the diversification and innovation of product in the period. The element of expansion of product is being done which is to provide ample means for the development of a product or renovating a product with the existing market plan. The development of the product is being followed by the new entry of the product into the new market. The expansion of Nike, a famous shoe brand should follow the strategy of Market Penetration as the company is already an existing company in the province of Australian market and the products which are available in the market are known and popular among the customer base. The 3X3 matrix plan is to b adhered to the Nike as a company and also to make sure that the marketing plan is being adhered. The overall market strategy is to be called upon keeping the company of Nike as well as the overall marketing techniques is to be made sure to have ample benefits for the company as well as for the market. The market penetration plan will help the consumers to enter and expand in the Australian market within the span of time.

1. What are the marketing objectives of Nike?
2. What is deciphered by the 3X3 Matrix for marketing the products of Nike?

Marketing Planning Process

Marketing Plan is defined as the business document that is used to understand and analyse the different strategies for the market including the ways and tactics involved in a span of time. The various plans for marketing strategy are being included in the plan relating to the market. The planning process for marketing is one of the compound process for the internal communication of the organization.

The Business Plan –The business plan is one of the foremost aspects of marketing plan technique in which the mission and vision for a plan is being clarified. The goals of the business is also being stated in the business plan statement which states the medium and long term goals for the company. The overall business of the organization depends on the planning process with the disciplines. Nike has a well-to-do business plan that helps the organization to survive and also to make sure that the company has the amount of plan for business.

Executive Summary –The executive summary for the business plan provides the main and critical factors that is to be provided in the course of time. The final draft of the business plan is one of the places which has the executive summary.

Propose Statement –The propose statement is a portion of the business plan in which the intentions of the marketing are stated. The statement is the proposal of the message which is being presented in the organization and helps the people understand the plan related to marketing.

Situational Analysis –The situation of a country or a company and even the buyer determine a lot about the condition under which the company or the place operates. In the situational analysis of the company the trends, nature, assets and the process of the organizational position is being assessed which help to analyse the trademarks in the process of situational analysis. The situational analysis of Nike is being considered here where the sales have not increased to a major level and needs major analysis of the situational factors.

Organizational objectives –The organizational objectives are the statements which are clear and related to the business plan.

Action Plan –The action plan is nothing but the program that is being set by the business for the implementation of the marketing plan. In the action plan, budget along with the timeline for the work is being done. The overall analysis of the action plan is done at the planning stage in which the action of the individuals is being assessed. The overall operations for the action plan is to be done in a placid manner which help to decipher the plans for the marketing tact.

Marketing Plan –Marketing plan is one of the major aspects of the business planning process in which the needs for the marketing are being identified and also are taken into consideration. The overall factors influencing the marketing and business ways are being identified which determine the market value of the factors and process are being analysed. The overall analysis of the marketing of the company depends on the plan which is determined by the product.

Segmentation Variable –The segmentation plan of the marketing plan is being done on geographic, demographic, psychographic and behavioural patters.

Pricing –The pricing of the product is one of the major plans in the business plan that helps to determine the pricing strategy for the various kinds of products and services in the concerned span of time. The overall strategy for the target group is to be analysed keeping in mind the pricing of the same.

Internal data collection –The collection of data is one of the prime factors which needs to be analysed to have proper characteristics features. The prediction of the marketing data is being done on the collected internal data which is one of the major events. The internal data collection is to be done by using various software for the uses.

Projections of income –The income and the buying decision of the consumers are being projected in a proportional part which means that the as the income increases the buying power of the part increases in a great way. The projection of income is thereby an important part of the market analysis.

Marketing Action Plan –The final document that states the objectives as well as the operational planning and action is termed as the Marketing Action Plan. The plan makes sure that the development of the action plan is being done.

1. How does a Business Plan created?
2. Does the company follow each of the process which has been described in the marketing plan?

Marketing philosophy is defined as the type of philosophical culture which is there in the organization which helps to implement strong workforce balance. The importance of culture in workplace is of prime value which means that with the importance of culture in an organization, the wholesome analysisof the matter can be achieved. The influence of the philosophy on the matter is of prime importance which means the organizational culture. The marketing philosophy for a workplace is to be associated with the production of the place as a strong organizational culture implies a greater level of production in the span of time. The overall analysis of the marketing philosophy is to be accounted to the business scene of the organization which means that the sustainability position of the company is determined by the marketing philosophy. The essentiality of business lies in the fact that the understanding of the business scenario is to be accounted to have enough knowledge for the marketing philosophy tactics of the time.

To gain the competitive advantage in an organization, the marketing philosophy is to be adhered. The definition of the market along with the process of evaluation is to be clarified to have the level of contribution in the span of time. The overall analysis of the concept has been derived from the fact that the theoretical perspective of the market analysis has been done. The market needs to be explored to maintain the assumption of the market and to maintain the operations of the business.

The marketing philosophy also underlines the concept of promotion in the overall matter which means that the marketing is directed to solve the purpose of satisfying the needs of the customers. The differentiation and the maintaince of wants and needs are two of the prime matters in marketing philosophy. The needs can be differentiated into two matters – terminal and instrumental value.

The marketing philosophy of Nike is to establish the company in the best way possible in the marketing technique and also to establish the company for the betterments of the marketing plan for the concerned time.

The overall analysis of the needs and wants can be associated with the marketing principles and concepts for the need for affiliation and the need for achievement in the realm of power. The needs of the organization change according to the time and demands of market.

1. What is a marketing philosophy? Which one of them should Nike follow for its market survival?
2. Does Nike follow the market philosophy fully?

Nike is one of the famous sports shoe brand of the world which is operating in most of the countries with its range of sportswear items. Nike which is also known as Blue Ribbon Sports is an American sportswear company that was originated in the year 1964 on 25^th January. The name of the company was changed to Nike following the name of the Greek goddess of Victory, Nike. The founder of the company Bill Bowerman was a track coach which led him to recognise the needs of the sportsperson and therefore come up with ideas and products beneficial for them. The company which is involved in the designing, developing and marketing for the footwear and apparels for the rest of the world is the largest supplier for the sports shoes on a global basis. The company is also engaged in the manufacture and selling of the largest sports equipment in the world. The company has a revenue in total for $24.1 billion in the year 2012 which increased to approximately $34.1 billion in the year 2017. The company whose brand value lies at approximately $30 billion is surely is one of the biggest brands which has expanded its products all over the world.

The various brands of the company like Nike Pro, Nike+, Jordan, Nike Blazers and others retail stores which has the name from Nike Town is one of the largest and most famous companies which has a logo well known by most of the people of the world stating Just Do It.

The origin of the company, like all other companies began from a small step which eventually went to become one of the largest in the whole plant. The company initially worked as a distributor for the Japanese company which is one of the largest shoe maker in the country making the profits on the right track. The sports shoe section was built by Nike which means that the wholesome shoe of the tracks was manufactured by the company. The company in the year 1964 manufactured and sold the first 1300 pairs of shoes which gave them the business of $8000. The company went on from being a normal company to a 50% share acquisition company in the year 1980 which was public in origin. The overall market of Nike was to attract clients as well as to expand the market through the span of 1980 to include footwear and different regions throughout.

The above figure gives an overview of the sales increase of Nike from the year 2010 to the year 2017 in comparison to the rival brands of Adidas and Puma.

One of the major company quest was to build a strong yet salient brand image which is strong and sporty at the same time. The image building will help to engage the company in sorting the buyer from the different fields of life and will also help the company to engage into the world of sporty ideas. The overall quest for the company is to engage the quality of service into the matters and also to convince the people to buy from them in order to improve their good will and profit. The overall analysis of the engaging in manufacturing more sporty shoes is to be made compulsory in the analysis of the company in the straight analysis. The enhancement of the strategy of the consumer is one of the prime matters in the quest of the company which help the company to have detailed analysis in the period of time. The relationship with the customer development is one of the prime requirements in any of the organization which makes sure that the company has enough of the business in the span of time. The overall analysis of the company is to make sure that the business of the company in association with the organizational needs of the period. The overall analysis of the quest of the company is to be regarded in lieu of the fact that the quest determines the amount of objectives which is being fulfilled in the due course of time.

The overall quest of the brand Nike is to be done taking into consideration into the fact that the communication of the people in relation to the overall matter to make the brand of the image better. The original company quest of Nike is to be analysed to have better communication skills among the people of the company and to make sure that the overall analysis of the company is being done in an avid manner. The overall quest of the company is to better the management and also to have potential profit in the period of time. The quest or the objective of the company is to analyse the prolonged behaviours of Nike and have ample evidence of the marketing system of the organization.

The current scenario of Nike is positive although there are a number of problems in terms of the customer dealing in the brand. The company in terms of the positive aspects needs to be addressed and self-sufficient to have the products for the customer. The analysis of the premium ranges and the lack of availability for the supplied products are some of the major issues which are there in the current market aspects of Nike. The overall dependence of the third party supply chain is another major problem of Nike in the making of sports shoe which is again one of the prime matters. The business challenges need to be quested to have better business opportunities in the span of time. The quest for the opportunities for Nike is to be best in the manufacturing of the sports merchandise. The company is to be made into objectives into enhancing the strategy of the customer.

The research and development of the company is to be analysed in regards of the complaints that is being made. The waste management of the company is to be done to analyse the objectives of the company and also challenge the discourse in the realm of time. The information that is viable to the people needs to be analysed to have the betterment of the company in the prolonged span of time. The company related information needs to be transferred to various people to make sure that the various media channels are used for the statement.

1. Does Nike has follows all the steps for the satisfaction of the customers at the work organization?
2. What are the strategies that are followed by Nike for making the resources work?

The vision statement of the company is to be straight and to the point to have a profitable business version in the span of time. The mission and vision of the company needs to be prolonged and as per the needs of the company analysis to have the universal profit to have betterment of the company and also to have prolonged name in the sports industry. The sports industry have to be prolonged analysis for the span of time. The distribution of the plan need to be analysed along with the vision statement to have good future for the company. Nike is one of the companies that has a proper vision statement which needs to be adhered to maintain the business of the company and also to have betterment of the industry related to the transformational point of time. The vision statement of the company is to increase the business and also to have a detailed analytical plan for the increment of profit in the analysis. Nike is one of the company that visions to develop a strong brand image to have identified the company as the best in the market. In addition, the mission statement is to gain profit and make more business which is the need of the company at the present moment. The visions statement which defines the future represents the best-in-class for the company in the period.

The decision which is being made by the buyer for the purchase of any good or services is there which maintain the buyer decision process of the person. The ways in which the buyer makes their decision process is valued through three stages of decision-making process. These are influenced by the needs and the values of the customers engaged in the act.

One of the many ways in which the decision making process of the buyer can be influenced is the characteristics of the behaviour making changes in the needs and preferences in the country. The overall decision making process of a buyer is really important for a company as that decides the fate of the company in terms of the business as well as the profit making ways of the brand. The buyer decision making process is evident in the importance that if the company is able to understand the decision making way of the buyer then the profit of the company can be achieved.

The buyer decision making process is there for the betterment of the organization as well as the managing the sales. The profit of the company is to be then adjusted according to the needs of the clients and helps the company to establish the marketing process of the company.

The above figure deals with the buyer decision making process of the buyer which is divided into three zones. The buyer decision making process depends on the viability of the products, the determination of the buyer as well as the various decision making process involving the ways and means of the buyer. The situational analysis of the buyer decision making process needs to be analysed to have even amount of process and also depends on the amount of decision making process.

The behaviour of the customer depends on the purchasing plan of the customer. The purchase behaviour is defined as the behavioural pattern that is there in the buying process. The purchase behaviour is one of the foremost criteria for the purchasing of the product in the span of time. The purchase behaviour is one of the foremost criteria for the analysis of the product. The purchase behaviour determines the decision of purchasing or not purchasing. The buyer decision process of Nike follows the theory.

The need for recognition is one of the major factors for the purchase decision for the product which means that the purchasing decision of the buyer depends on the recognition of the product. If a product has recognition in the market then the customer is more likely to purchase the product. Nike being one of the major companies in the market serves as one of the good forces for the purchase recognition. Nike is a recognised company which is one of the major factors for the customers to buy their products.

The buyer decision making process also depends on the classification of the product which means that if there is a specific pattern for the classification for the product then the buyer is more likely to have better chances of purchasing. The product classification is one of the most important factors that is there in the purchase behaviour of the customer. Nike is one of the brands that has a range of products all belonging to the sports merchandise. The purchasing behaviour of the company is therefore high in terms of customers. The products of Nike are well classified.

The involvement of the product and customer is also essential to the fact that if the customer is able to involve with the product due to the needs of the product then he or she is ,more likely to purchase the product. The product involvement is therefore important in case of Nike where the customers are mostly interested in buying sports merchandise. This makes the customers engaged with the brand in many ways. The involvement of Nike and the product is there which one of the major factors is again.

Cost is one of the major factors that determine the buyer decision making process. The overall cost of the products is to be recognized which means that the cost of the products needs to be in the budget of the customer to have better analysis of the value of the product. The overall analysis of the cost and risk is to be done in accordance with th situation an also the factors that have the overall cost analysis. The cost of the product determines the amount of the price that the buyer is ready to pay for the product.

The benefit and risk analysis of the company is one of the most important matters which is determined by the amount of business that is taken by the company. The company which takes the highest risk is expected to have better benefit. Nike at the time of its initiation took big time risk in flaunting products that were ahead of the times and gained risk as per that. The customers engaged in the purchase were interested in the product.

The value situational analysis of the company is determined by the methods that the managers of the company to analyse the internal and external conditions of the company. The environment and capabilities of the company are determined by the business context and environment. The managers of Nike are capable enough for determining the methods and process for the analysis. The value situational analysis is therefore essentially positive in the sect.

 The market of the brand also determines the buyer decision process and purchasing behaviour of the customer. Nike belongs to a group of brands that manufactures especially for the sports community which needs to be addressed as per the market needs. The market of the company needs to be as per the customer needs. The regular customers of the company are the people who are engaged in sports which make the market inclusive.

The customer and their interest is the most important factors for the analysis of a company as the customer is the most important factor. The customer decides what type of product the customer needs. The customers of Nike are the ones that are focussed on sports goods which need to be analysed in the span of time.

The buyer has the decision making role in terms of the purchasing power of the product. Nike is one of the most important brands that specialises in the production of sportswear which makes the customer have better choice and decision making process for both the consumer as well as the company.

There are a number of benefits for making the buying decision process of the buyer that determines the fate of the company. If the customer wants to purchase products from the company, then the the company is in benefits. If the customer chooses to buy from some other brands then there is no benefit. Nike has a number of competitor companies which need to be analysed in terms of calculation of benefit.

The total product of the company need to be analysed to have full knowledge about the types and kinds of products that are being assessed in the province of time. The overall analysis of the product need to be in coordination with the needs of the brand. Nike has a number of products that are included in the total product analysis.

The product concept of the company is determining factor for Nike. The product concept is based on a single concept of sport which has a specific genre of audience. The overall product concept is definitely attractive for a section of people who are engaged in the sporting activities.

The components, products and layers are one of the important concepts for the analysis of the buyer decision making process that is involved in the analysis of the purchase. These are some of the most important factors that are there in the analysis of the products. Nike is one of the most important companies which has different components of products having different layers in their range of products. The overall analysis of the buyer decision making process depends on these factors.

The marketing strategy of the buyer is one of the most important in the cases which means that that strategy that is being considered when marketing the products. The overall strategy of the product determines the purchasing power of the buyer. Nike is one of the important companies that has a specific strategy for the purchasing power of the customer.

Product life cycle is defined as the stage in which the product is at the present moment in terms of the business considerations. There are four stages of product life cycle namely Introductory, growth, maturity and decline. The Nike is at the stage of growth where the products of the company are growing at a rapid rate amidst the competition level. The other companies who are at steep competition to each other make sure to have the level of growth in the spectrum.

The product delivery is one of the most important phases in the product of the case. The product delivery assesses the experience that has been made as per the quality of the product. The company which is one of the most famous in the arena of sports merchandise is expected to have delivery which is of great quality. The overall delivery of the product is responsible for the marketing of the sports merchandise. Nike is one of the famous companies which assures a best-in-class product delivery that needs to be assessed. The customers demand a high product delivery from the company that is so engrossing to its customers as well as the cycle of product. The delivery experience of product also plays a vital role for the delivery of the product as it is a general concept of the customer to believe the people who have previous experience.

The product visibility or brand visibility is defined as the way in which the customers get to know about the brand by all sources of marketing media. The product visibility is created for the better marketing and sales of the product and also to create brand visibility among the people of the times. The product visibility is one of the foremost sections which is created by Nike in terms of their marketing and brand promotion. The different forms of advertisement is done to create the visibility for the brand.

The post purchase behaviour is one of the foremost parts of the buyer decision action in which the buyer decides the further action after the buying process has been done. The likes and dislikes of the consumer is taken into action in this stage. The post purchase behaviour of Nike has cognitive dissonance in the action which means that the quality and the experience are taken into consideration in the span of time.

The complaints of the consumer is to be accessed to make sure that the further delas with the customer are being delivered. If there is a specific complaint cell which is being provided to the customers, the customers will have further assistance and inclination in buying products from that brand. Nike has a good complaint cell which determines the positive buying behaviour of the brand.

The circle of satisfaction is defined as the level of interaction between the organization and the customer to fulfil the level of satisfaction level in the span of time. The circle of satisfaction is surely one of the vital in the cases which means that the Nike due to the good customer organizational interaction is to be positive review.

1. Has Nike adopted customer behaviour in an effective manner?
2. Has Nike followed the cycle of satisfaction in the organization?
3. Has the product selection been satisfactory for the customers?

The GAP model is important in the case as it analyses the expectations of the customers along with the perceptions in each of the case. The overall research regarding the model is very effective in the sense that the model helps to understand the level of satisfaction in the minds of the model in terms of the customer quality. The gap model is one of the best conceptual model which helps to analyse the quality of service and the initiative of the product.

There are in total 5 gaps in the model which has been analysed in the above figure. The first gap is evidence of the difference in the level of expectations between the customers and the managers. The first gap is identified by the use of survey research which can be used for Nike. The main aim for Nike is to keep its innovative position which can be used in Gap 1.

In Gap 2, the difference between the specification and perception of management can be adhered. The understanding of the organization in terms of the demands of the customers can be achieved. The customer standard needs to be maintained by the gap.

In Gap 3, the feedbacks of the customers are being adhered which determine the experience that has been collected by the managers. The fulfilment of the promises of the customers are also done which is one of the prime elements of the case.

In Gap 4, the difference of communication between the customers and the delivery of the services can be achieved. The quality of the services which increases the expectations of the customers are also being assessed.

In Gap 5, the difference between the expectations and perceptions of the services are being assessed. The experiences of the customer determine the level of the promotion which is being done. The whole difference between the expectation and the actual experience is determined by the transactional process of survey which is important for understanding the perception.

SWOT determines the strength, weakness, opportunity and strength of the organization which means that the overall analysis of the company Nike is being done. The SWOT analysis determines the various facets of the company which analyses the company and its operation as a whole.

1. Does Nike need innovation? Yes/No
2. Are you a loyal customer? Yes/No
3. Are you satisfied with the quality? Yes/No
4. Do you have any issues? Yes/No
5. Do you recommend Nike? Yes/No

Conclusion

In conclusion, it can be said that the marketing audit for Nike can be achieved by the above analysis. The above analysis assesses the marketing objectives, planning, philosophy related to the marketing stuff as well as the SWOT analysis of the company giving a brief details for the brand in the context. The above analysis is a marketing audit for a company which has a large customer base giving ample evidence of the buyer planning process in the three zones described in the section. The GAP model is also being assessed which means that the perception and the analysis of the buying can be done. At the end of the analysis, it can be concluded that Nike is one of the famous companies that is there on the top of the marketing sphere, however, requires some marketing techniques to retain the position and increase the growth perspective.

Reference

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Statista.com, (2018). Available at: https://www.statista.com/statistics/269599/net-sales-of-adidas-and-puma-worldwide/ [Accessed on 5 Nov 2018]