Nike Marketing Mix – Marketing Mix of Nike

Nike Marketing Mix or Marketing Mix of Nike defines athletic footwear, apparel and equipment business profitability, and growth. The marketing mix for a company refers to the techniques and methods used for executing the marketing campaign based on products, price, place, and promotions (4Ps). Nike marketing mix includes fitness products. The company, for example, is specialized in shoes designed to meet professional basketball and soccer athletes ‘requirements. Such products, however, are sold for sport and recreational activities to all customers worldwide, based on the details of the business mission and vision statements of Nike. Founded in 1964, the 4Ps of the organization evolve in line with the global dynamics of the sports goods industry. Such innovations are a key factor in the success of companies that can use their marketing mix to adapt to changes and market dynamics that affect local, regional and international consumer demand for their goods.

marketing mix of nike

Nike Inc. strengthens its capability to defend its company from heavy competition through its marketing mix. The organization competes against various firms participating in the industries of footwear, apparel and sporting equipment. The organization operates in the same markets as Adidas, Puma, Under Armor, ASICS and the VF Corporation. Nike Inc.’s Porter’s Five Forces Study indicates that these firms have a solid competitive presence in the business climate.

Product in the Nike Marketing Mix -Marketing Mix of Nike

This element of the marketing mix lists the organizational outputs available for customers. Such outputs are referred to as the product mix. The success of Nike Inc. has changed the product mix. For instance, the company continues to invest in R&D to develop new products and improved product versions. Originally a manufacturer of shoes, the company now manufactures various sporting apparel, clothes, and equipment. The company incorporates new technology into its product lines based on Nike Inc’s overall strategy and aggressive growth strategies, in order to maximize product quality and customer satisfaction. The following specific categories reflect the product mix of Nike: the most common products of Nike Inc. are Sports Apparel Clothing & Accessories Sports. The company slowly introduces additional product lines to this group. For example, for a variety of other sports, including cricket, the company offers now running shoes, tennis shoes and clothing. Nike also offers shoes, including shirts, shorts, and related items. Furthermore, the product lines of the company include products and equipment such as golf clubs. These products are available under several brands of the company, including Air Jordan, Hurley, and Converse. Nike expands its product mix on that element of the Marketing Mix to meet the needs of its target markets and market segments.

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nike marketing mix

Places in the Nike Marketing Mix -Marketing Mix of Nike

This marketing mix element identifies the places where the products of the company are sold, accessed or distributed. Nike Inc. is marketing its sporting shoes, accessories and equipment worldwide through a range of shops. These goods, for example, are available in major retail stores. Such distributors include big corporations such as Walmart (see Walmart’s Marketing Mix or 4P) and small local and regional stores. The 4P aspect also shows that consumers can buy Nike sports shoes, clothes, and equipment from the online shop of the company. The company also operates its retail outlets in Niketown. Such channels are operated by a corporation and provide access to industry and consumer information promoting corporate strategic management of existing, new and evolving product marketing strategies and tactics. Nike Inc. manages the distribution and selling of its goods, especially through its online shop and retail outlets, based on this aspect of the marketing mix. The company, however, has limited control over the distribution and selling of its goods through other retail outlets.

Promotion in the Nike Marketing Mix -Marketing Mix of Nike

Nike Promotions which also involves a marketing communication mix and the strategies used by Nike to connect with its target audiences. Nike Inc.’s Promotional Mix. The organization depends on the effective marketing of its products to retain a positive brand identity, one of the strengths found in Nike Inc. SWOT analysis. The organization uses advertising tactics to connect its products with target buyers and persuade them to purchase the goods. Nike promotions are organized according to importance: direct marketing sales promotions Public relations Advertising is one of the greatest contributors to Nike’s ability to attract customers. Nike’s promotional activities are significant. The company relies heavily on advertising, particularly those involving prominent supporters, such as athletes and sports teams. This part of the company’s marketing mix often involves personal sales by salespeople who encourage customers to purchase the goods of the business. Salesmen at Niketown retail stores, for example, are qualified to use such persuasion. Local marketing efforts of the organization include direct contact with schools, local sports teams, and other organizations. In the sense of 4Ps, direct marketing refers to direct communication with organizations to promote the goods of their members. Nike also often uses discounts and promotional deals to draw more buyers and create more sales. Such discounts and deals are the promotional strategies of the company. In addition, the company sponsors and supports other organizations such as community-based networks for the promotion of its sports shoes, clothing and equipment in public relations. The company relies on its partnerships with leading suppliers to effectively help its business and products in the international sporting goods market, based on the strategies included in this dimension of the Nike Marketing Mix.

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Price in the Nike Marketing Mix -Marketing Mix of Nike

Price in the marketing mix of Nike describes rates the company applies to maximize profit while gaining a targeted share of the global market. Nike’s products and pricing strategies Nike’s technology investments are related to a policy of premium quality of its goods. However, in setting its price points and price ranges, the company considers the current market conditions. Based on these assumptions of this 4P measure, the following pricing strategies are used for the company of Nike Inc.: value-based pricing strategy & Premium pricing strategy. Nike inc. recognizes the consumer’s view of the value of its goods by using a value-based pricing strategy. This interest is used in the marketing mix to assess the average costs for the athletic shoes, clothes, and appliances that customers are prepared to pay for. To this respect, high prices are part of the premium selling policy, focused on a premium Branding approach that recognizes Nike products as high quality and value relative to rival products. The company’s use of ads featuring famous actors demonstrates such an emphasis on luxury branding. In 2014, its sales rates were effectively raised and profits and revenues grew. This pattern continues with rising sales revenues while growing its prices slowly. Nikes revenue was US$ 36.39 billion (2018). According to the PESTEL / PESTLE study by Nike Inc., this phenomenon is correlated with socio-cultural and economic developments in the manufacturing climate. The organization adapts the pricing levels to these changes. Nike Inc. has successfully exploited its pricing strategy to increase its revenues and demonstrate its high reputation for the promotion of its goods and brands in this aspect of the marketing mix.