The company operates in over 190 nations and is well-known for its innovative products, brand recognition, and marketing campaigns.
Rationale: To stay cutthroat and important in the steadily changing athletic apparel industry, Nike requires another showcasing procedure. In light of the rise of e-commerce and shifting consumer preferences, Nike must modify its marketing strategies to satisfy the requirements of both new and existing customers. In light of the growing emphasis on sustainability and ethical behavior, Nike must also incorporate these values into its marketing strategy to attract customers who are concerned about social issues.
Strategy: Customers who enjoy sports and live a dynamic lifestyle are expected to be Nike’s new target audience. To gain access to the information that is required for the final marketing strategy, market research will be carried out to comprehend consumer behavior, preferences, and trends. Additionally, the study will shed light on how Nike’s advertising campaigns can incorporate sustainable and ethical practices. The brand will also be promoted through partnerships with athletes, fitness enthusiasts, and influencers to reach a larger audience. To increment client faithfulness and maintenance, the arrangement will likewise focus on making a consistent on-the-web and disconnected shopping experience for clients. The general objective of the new showcasing methodology will be to depict Nike as an imaginative and socially cognizant active apparel organization that requests to its target group.
Nike will allocate resources for computerized advertising campaigns, virtual entertainment advancements, and events to reach its primary target audience to carry out the new advertising strategy. Additionally, the company’s advertising campaigns will focus on environmentally friendly and ethical manufacturing processes. This will attract customers who are socially conscious as well as build a positive image for the company.
With everything taken into account, Nike needs another publicizing means to remain ferocious in the dynamic attire industry and directly appeal to the changing client. By conducting market research, collaborating with influencers, and integrating sustainability and ethical practices, Nike can develop a comprehensive marketing strategy that resonates with its target audience and positions the brand as a socially responsible and innovative sportswear company.
Nike. (2021). NIKE, Inc. Reports Fiscal 2021 Fourth Quarter and Full Year Results. Retrieved from https://s23.q4cdn.com/299287126/files/doc_financials/2021/q4/Q4-21-Press-Release.pdf
Statista. (2021). Sports Apparel Market Size Worldwide from 2012 to 2025. Retrieved from https://www.statista.com/statistics/236685/global-apparel-market-size/