Our team of experienced writers is on standby to deliver to you an original paper as per your specified instructions with zero plagiarism guaranteed. Types of Customer Segments Each of your segments should consist of customers who are very closely aligned with one another yet clearly differ from customers in other segments. Even if willing to build long-lasting bilateral relations, interaction with customers to assess their priority and preferences marketers prefer to use digital media. While creating a marketing strategy, an enterprise must consider many factors. The business must make sure that the product is released within the right area in which they can operate and maximise profit. This is why Nike sells athletic attire as well as footwear. Demographic segmentation in Nike is based on occupation, age and a gender; Psychographic segmentation focus on interests, lifestyle and values; Behavioral segmentation focus at brand loyalty, the intended use of the products and services and the beneficiary of the products and services Strasser, 2003.
Take a look at the YouTube video located below: Nike also uses psychographic segmentation to target individuals with specific lifestyles and personalities. The four main bases, which segment a consumer market, are known as Geographic, Demographic, Psychographic and Behavioural segmentation. Hence, in terms of pricing, Nike finds favor. Just Do It: The Nike Spirit in the Corporate World. Use the order calculator below and get started! Nike engages formal analysis in understanding the market segments, in which marketing mix has been influential in delivering the changes. Besides the signing of celebrity sportsmen to promote their products, Nike has also employed a great deal of advertisements through the mass media. Aspect of substantiality is reflected by Nike in the eyes of sustainability, since each market segment must have the ability to show long lasting effects Katz, 1995.
It is very important from the point of a view of a marketer to know the target market. Please contact your financial or legal advisors for information specific to your situation. Nike markets its products under its own brand as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Skateboarding, Team Starter, and subsidiaries including Cole Haan, Hurley International, Umbro and Converse. Nike brand is globally recognized and has brand loyalty over decades. A true market segment meets all of the following criteria: it is distinct from other segments different segments have different… 4751 Words 20 Pages Text 6.
The Swoosh, was the icon that all kids had to have, and why not? Market segmentation is used by all businesses and organization regardless of its mass. Nike uses different types of segmentation to break a bigger market into small customer groups. This has created a relatively high degree of Nike products' awareness. Nike targets these consumers by agreements between Nike and athletic teams, college's athletic teams etc for product sponsorship and eventual promotion to the members of these teams. Coca-Cola, Cola, Demographics 2505 Words 8 Pages Profile: Nike is a cooperation which sells clothing, footwear, sportswear, and sport equipment. Athletic shoe, Bill Bowerman, Nike, Inc. Conclusion This report is about the company Nike and it tells the Identification of the product, Market segmentation, The consumer, Positioning of brand, Marketing Mix of Brand, Sources of competitive edge and Critique of marketing about the company.
Tools for marketing research will also be discussed. So, Adidas could not handle the whole athletic shoe market. He approached the Onitsuka Co. Ever thought what happens when a brand touches the emotions and aspirations of its customers and build on it to position itself. The Positioning Concept 9 12.
Market segmentation is the technique used to enable a business to better target it products at the right customers. Common bases for market segmentation in Nike identify with geographical segmentation which reflects on the regions and the countries of operations. While 36% were students from various fields. In this research, I have taken ten different sectors of the economy and also incorporated the survey of consumers and professionals. The Concept of Market Segmentation 5 4.
For youth, they think Nike shoes is a fashion lifestyle and they wear it just to follow fashion trend. In fact, have so many options now that it can be difficult to zero in on exactly which audience you are hoping to reach. Because each segment is fairly homogeneous in their needs and attitudes, they are likely to respond similarly to a given marketing strategy. Hamaleinko, 2010 As everyone knows that time and resources are the most important things wasting them on things that seem disinteresting to your business would not be suitable. This way Pottery Barn not only serves an upscale, family focused lifestyle but also gives an impression of being casual yet sensible. How to Segment Your Customers Corporations spend large sums of money segmenting their customer base — something that most small businesses lack the time, experience, and resources to do.
Adidas the largest sportswear manufacturer in Europe and the second biggest sportswear manufacturer in the world markets by looking at buying attitudes. The company gets its name from Nike, the Greek goddess of victory. Obviously as each and every individual is different so each consumer has a different set of needs and a single brand alone is not sufficient to cater each and every segment. Nike and Precision Castparts are the only Fortune 500 companies headquartered. The marketing strategy is characterized with extensive advertising, Beatles song, new media marketing, minor threat advertisement and Nike 6. They will have clearance stock or promotion through on or sell on shops.
The market segmentation allowed Adidas to reach a consumer having specific needs and wants and who ssociated with it. Neither you, nor the coeditors you shared it with will be able to recover it again. The two cases, Nike and Gun Manufacture touch upon how moral responsibilities can sometimes be over looked financial gains are substantial. It could be geographic, demographic, psychographic or behavioral segmentation. For example, since Michael Jordan wear Nike shoes, consumer will follow him step as a fashion trend.