This allows business to gain competitive advantage and acts as development tool. Value added pricing is the most focused by MacDonald so as to attain the customers towards the products.
Written by Miles Media on April 10, Nike is the world leader in the manufacturing of sportswear and gear with more than 47 market shares across the global Nike.
Nike produces a wide range of sports equipments such as running shoes, sportswear, football, basketball, tennis, golf, etc. Now Nike follows the global fashion trends and is well known and popular in the youth culture and hip hop culture to supply some fashion products. Besides that, Nike also becomes the top of three companies which are climate-friendly companies which build better image to customers.
Nike outsourcing their products most of the factories are located in Asia such as China, Indonesia and India. In order to sustain their dominance in the industry and retain their competitive advantages, Nike actively responds to the market trends and changes in consumer preference by adjusting their marketing strategies, the mix of existing product offerings, developing new products, styles and categories, and influencing sports and fitness preferences through various marketing strategies.
Nike distributes its products on different level basis. The high premium products are given to a certain distributors while leaving the low priced to be sold at highly discounted price at the retail stores such as Wal-Mart Jeannet J,pp Nike has become the leader in the e-commerce by being the first to the market with its e-commerce website.
Nike launched its e-commerce site in April by offering 65 styles of sport shoes to the US market for purchasing Nike, This program represents the first time a company has offered mass footwear through the Internet and provides competitive advantages to Nike. Besides that, Nike also employed a large amount of advertisements through the mass media Goldman S,pp Their aggressive advertising campaigns, celebrity endorsements and quality products all enhance their brand and image.
For example, when a celebrity athlete sponsors a specific brand of athletic shoes, the brand will be associated with success. In this way, the price is not affect too much Frank,pp This has make Nike to set relatively higher price than its competitors.
This strategy focuses on the consumers who like Nike and pushes the products value to a higher level. The customers who consider a product to be high quality are likely to pay the high price more often and consistently.
Once the consumers develop the product intimacy, they come to associate their person with the products and will pay whatever price quoted on the products. Nike use vertical integration price strategy in which they take ownership of the participants at channel level that differ and they also engage in various channel level operations both to control costs and thus influence the pricing function Goldman S,pp Nike focuses on creating premium consumer experiences on product innovation, brand leadership and elevated retail presence.
Even though others are likely to buy the products, Nike focuses on the athlete more than any group of individuals even though it also target on the youth. This strategy is especially successful because of its ability to reach a large number of athletes.
The negative implications that will identify in this assignment are high cost incurred, influence of spokesperson, and competitors.The strongest business cases focus on the twin factors of profitable growth: revenue and cost, according to Jake Sorofman, research vice president for Gartner for Marketing Leaders.
In a recent survey, 73% of consumers said they would expand their purchases with a vendor by 10% or more if the customer experience was superior. Aug 10, · The gulf between satisfied customers and completely satisfied customers can swallow a business.
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Prepare a generic structure of a business case (marketing components included), Research your business idea by needed topics and using appropriate research methods, Analyze and compile results of research, Align business idea, strategy and processes, 12 Steps Business Case Development.
Indian market with its customer-centric approach. The company gained leadership marketing. This case delves into the critical success factors of the industry and the factors that gave a few players market leadership in this industry. To create a Brands and Branding.