Describe about the Research Proposal for An Understanding about the Marketing Strategies of Nike Dri-Fit.
Business research topic
Dri-Fit technology of Nike is not efficiently market focused and does not help to gain profit for the company.
Research Proposal for Nike Dri-Fit
One of the most popular American multinational companies is Nike Inc that was established in the year 1971. The company is mainly engaged in the design, development as well as international marketing and sales of footwear, equipment and clothing. The slogan of the company is “Just Do it” along with its slop logo that motivated the individuals on worldwide basis. The aim of the final research proposal is to develop an understanding about the marketing strategies of Nike Dri-Fit that is a high-performance, polyester material that removes sweat away from the body and to the fabric facade where it evaporates. As a result, the athletes remain dry and comfortable with the help of Dri-Fit. Nike makes the use of Dri-Fit technology in most of its products that includes shirts, socks, pants as well as gloves and sleeves (Kreng and Wang 2013).
The international market for athletic footwear is mainly characterized by strong competition with presence of large number of players that includes Puma, Adidas and Asics. The worldwide athletic products industry is uncovered to continuous changes in the preferences of the customers as well as technology. As a result, Nike is facing increasing competition in the emerging market from its competitors. However, the dri-fit products of Nike are unable to gain profit as well as meet the sales target in the Asia Pacific region. As a result, the company requires finding new and better techniques to change the range of Dri-Fit. The increasing competition from emerging players that mainly concentrates on niche market sectors such as performance attire and yoga-focused attire pose an intimidation to the selected markets of Nike (Carr 2013).
A literature Review is a text of an academic paper that mainly includes the present knowledge including substantive findings. A literature review is mainly a secondary source that does not include any original experimental work. As opined by Schlegelmilch (2016), it is important to distinguish the company from its competitors to maintain the business exclusiveness. This is mainly because when a brand is unique, it becomes easier for the individuals to be connected with the brand. As a result, the customers value the brand. Through diverse range of ideas, advertisement as well as word of mouth the individuals becomes aware about the brand. Strong brand image pulls the customers to purchase the product of the company. Hence, the success of the brand depends on the image of the brand. In order to increase the awareness about the brand, Nike requires to manage their brands so that the positioning of the brand is commuted to the customers.
As opined by Shih, Chen and Chen (2013), Nike should offer a product decision that is a type of service. The customers mainly prefer to purchase products from a company that has a strong brand image. Nike mainly samples their trial product before launching their final products. The service of the company requires to be improved to become successful. The awareness of the product is enhanced among the customers with the help of promotion strategies that includes promotion, advertisement and internet marketing.
Place acts as a key of branding strategy because if the customers do not have a guide as to where to search the commodity they will not be able to purchase the brand. It is required to target the audiences and then setup the shops as per the demand of the customers. As a result, the company requires to have improved access through multi site settings. The company coordinates supply in almost each key countries that includes Europe, Asia, Middle East and Africa. Nike is leading the sportswear market with its ground-breaking commodities as well as excellent customer service. The percentage of market share within the footwear industry acts as the biggest strength that helps Nike to compete with its rivals. The innovative technology that has been launched by Nike includes ColorDry Polo that makes use of the Dri-Fit of Nike. This technology helps to remove sweat away from the body through the fabric where it can rapidly evaporate. As a result, Nike continues to be a leader in its footwear market and endeavors to create the best as well as unique sports clothing. It is the first company that implemented the idea behind Nike ID footwear that provides modified footwear produced by the customer on the company website (Govers and Go 2016).
The company is also planning to pair up with Apple Inc, in order to produce innovative commodities. This will in turn help to bring into fold the Facebook customers of the company. This will also help to increase the awareness about the brand and reach out to the customers who are still not able to decide the brand they prefer (Dvortsov et al. 2014).
Research questions and Hypothesis
A research question is a statement that mainly recognizes the phenomenon that requires to be examined. The answer to the research question is mainly a thesis statement.
- Do you purchase only branded products?
- Are you a loyal customer for the good you buy?
- What is the image of our product in your mind?
- Do you have trust in our products?
H0: Dri-Fit technology of Nike is not efficiently market focused and does not help to gain profit for the company.
H1: Dri-Fit technology of Nike is efficiently market focused that helps to gain profit for the company.
Research Objectives are mainly expressed in lay terms that are directed as much to the client as to the researcher. The main objectives of the research are as follows:
- To determine the preferences of the customers to colors as well as materials
- To review whether the customers are aware about the brand or not
- To determine the in store accessibility as well as visibility
- To assess whether the customers are aware as well as recognizable with the technology
A research methodology is a methodical plan for conducting research. Methodology mainly refers to the strategy, plan and action as well as the procedure that lies behind the choice and use of a specific method (Mackey and Gass 2015).
With the help of this method, it becomes easier to provide an in-depth understanding of the behavior as well as attitudes of the individuals. It is mainly a general way of thinking about conducting a qualitative research. It is also considered as a primarily exploratory method that is used to gain an understanding of underlying motives as well as incentives (Taylor, Bogdan and DeVault 2015).
This type of methodology is mainly used to quantify the problem by way of generating numerical data as well as data that can be transformed into useable statistics. Quantitative methodology mainly makes the use of quantifiable data that will help to originate facts. It is a much more prearranged method as compared to qualitative methodology (Waller 2015). The research variables that are mainly used in this methodology are as follows:
- 7 stores to be visited in each city
- 4 different markets (Sydney, Dubai, Hong Kong and Singapore)
- Age of respondents
- Sex of respondents
- Time of study
- Understanding of technology
A research philosophy is a belief about the way in which data about an observable fact that requires be gathering, analyzing as well as using. It is a broad topic that deals with the source, nature and development of knowledge. A research philosophy in a research proposal involves being aware and formulating the objectives. As a philosophy, positivism stays to the view that only accurate knowledge are gained through observation. The researcher with the help of positivism philosophy introduces different subjects. However, positivism philosophy makes the use of deductive approach (Knobe and Nichols 2013).
A deductive approach is mainly concerned with the development of a hypothesis that is based on obtainable theory. This approach is explained with a hypothesis that is derived from the proposals of the theory. Deductive research approach discovers a known theory or an observable fact to check whether the theory is valid or not (Colucci et al. 2014).
The following stages are mostly used while implementing the deductive approach:
- Assuming hypothesis from theory
- Devising hypothesis in operational terms
- Testing Hypothesis with the application of pertinent methods
- Investigative the outcome of the test
A Gantt chart is a type of bar chart that was devised by Henry Gantt in the year 1910. This chart mainly illustrates the start and the end date of the mortal elements of a project.
Monday, August 08, 2016
Data Collection and Analysis
Friday, September 09, 2016
Final Business Research
Tuesday, October 25, 2016
Research of the project proposal is the principle task of the research. The research work will be started after conducting the outline of the research. As a result, the researcher requires to understand the subject matter in order to execute the research. It is to be noted that the original time for each task may differ as compared to the estimated time. Data collection is an imperative part of the research. Secondary research is mainly used to conduct the above research and it requires less time as compared to primary research. The researcher gathers information from literature review with the help of data analysis (Mohammad et al. 2016).
Description of the research process
There are various methods of data collection that are associated with the research proposal. To get the details about whether Dri-Fit technology of Nike is efficiently market focused that helps to gain profit for the company or not it is important to view the official website of the company. The financial position of the company will also help to determine the impact of Dri-Fit technology on Nike. As per the research process, though Nike is a leading sportswear company it will not be able to keep hold of the position in the future. A company that seeks success in short and long term will never neglect the strengths of its competitors. The main objective of the company is to consider each opportunity of its competitors as a threat for itself (Marx et al. 2016).
Data Collection and Analysis
The study is mainly based on secondary research that involves qualified as well as experienced moderators who are responsible for store visits and store audits. The data is collected by focusing on group discussion as well as by interviewing the staff. The senior research directors will be accountable for designing a questionnaire as well as its succeeding analysis. PDA will also be utilized in order to avoid any type of interview errors. As a result, all the questionnaires will be executed in a routine onto the PDA (Dumbach 2014).
On the other hand, data analysis will provide assistance to measure the attitudes as well as insights of the customers. It is also helpful in determining the purchase interest. The tools will also be used to analyze the variables will be cross tabulation. Cross tabulation helps to understand two diverse variables that are connected to each other. Categorical data are mainly analyzed with the help of cross tabulation that acts as a statistical tool. This method also provides a superior insight that can be utilized for any level of data that includes ratio, nominal as well as interval (Payne and Dorn 2012).
Expected Research Outcome
The expected research outcome of the research is that Nike requires to initiate another type of innovative strategy as Dri-fit products of Nike will not be able to gain profit for the company. The permanent asset for a company is brand loyalists that will help to increase the revenue for the company. The long-run advertisement will also help to increase the brand image by making the customers less sensitive to price as well as loyal towards the brand.
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