The proposed item will be a skinny jean with Dri-FIT technology that will wick sweat away and keep the wearer cool and comfortable in nearly any weather conditions. There is much to consider any time a company decides to move forward with a new product (Jain, 1990; Jarillo, 1988; Porter, 1980)
That reduces some of the risk, but it is still vital that the risks that are inherent in the creation and marketing of a new product be addressed by the company in order to ensure that it is protecting itself. By being careful about the marketing mix and doing significant research, the likelihood of success is much higher for any company, as even well-established companies can fail otherwise (Kerin, Hartley, & Rudelius, 2011; Porter, 2002)
This is a good time for Nike to use its athletic apparel clout to market skinny jeans for women, because it is focusing on and utilizing two trends in the market. Following industry trends is important, and setting them is even better (Perreault & McCarthy, 1999; Porter, 1979)
The ability of Nike to continually evolve the women's fitness, Start, Converse and Fitness Dance products is to a large extent defined by how innovative their product strategies are in each of these areas (Collins, 2003). Figure 1: Boston Consulting Group Matrix Analysis of Nike's Product Line Star Products Question Marks Cash Cows Dogs Source: Analysis of SEC Filings by Nike based on concept from: (Cooper, Edgett, Kleinschmidt, 2006) Nike uses perception-based analysis to define their future product strategies based on attitudinal insights from prospects and future customers (Anana, Nique, 2010)
Nike moved quickly from selling footwear to accessories and then on to creating products for entire sports categories. This portfolio-based approach to managing their branding strategy has given Nike greater flexibility in defining which celebrity athletes they will rely on at specific stages of their product lifecycles (Collins, 2003)
The ability of Nike to continually evolve the women's fitness, Start, Converse and Fitness Dance products is to a large extent defined by how innovative their product strategies are in each of these areas (Collins, 2003). Figure 1: Boston Consulting Group Matrix Analysis of Nike's Product Line Star Products Question Marks Cash Cows Dogs Source: Analysis of SEC Filings by Nike based on concept from: (Cooper, Edgett, Kleinschmidt, 2006) Nike uses perception-based analysis to define their future product strategies based on attitudinal insights from prospects and future customers (Anana, Nique, 2010)
In these terms, a substantial increase in cost of production abroad would not damage the financial position because the profits were substantial enough to cover the added expenses. Nike could continue this strategy until very late in economic gain because governments did not enforce their own laws and births were hard to verify to prove ages of workers (Boggan)
To ensure that subcontractors are aware and know the policies, a statement signed by the subcontractor after reading and understanding policies serves as a valuable tool for compliance measures. After developing a rebranding plan, it is necessary to communicate the plan in a clear manner to shareholders and the public (Brown)
At present, Nike may be doing business in Indonesia, but when the economy starts to prosper, Nike will look for another country to move operations. Other countries that Nike may consider are North Korea, Ethiopia, (McKenna), or New Delhi (Goldberg)
At present, Nike may be doing business in Indonesia, but when the economy starts to prosper, Nike will look for another country to move operations. Other countries that Nike may consider are North Korea, Ethiopia, (McKenna), or New Delhi (Goldberg)
To save the firm reputation, rebranding is a good option. Correcting business problems is a huge part of success (Sternal)
Organization Behavior NIKE Marketing Analysis Business environment consists of numerous factors and forces that impact the business organizations' ability to operate competitively and profitably in their industry. These forces exist at both micro and macro levels and require the business organizations to show quick response to the uncertainties and complexities which may arise in the business environment from time to time (Cadle, Paul, & Yeates 2010)
IMPACTS OF BUYER BEHAVIOR Buyer behavior is one of the most significant factors from the micro environment of the company. It impacts the company's pricing and promotional strategies the most (Kurtz, MacKenzie, & Snow 2010)
These forces exist at both micro and macro levels and require the business organizations to show quick response to the uncertainties and complexities which may arise in the business environment from time to time (Cadle, Paul, & Yeates 2010). These forces impact each and every aspect of the business operations like marketing decisions, segmentation, targeting, and positioning strategies, consumers' buying behavior, marketing or promotional activities, and others (Lamb, Hair, & McDaniel 2012)
It has also opened retail stores with the name of Niketown. Due to the quality, style, and reliability of its products, Nike has become the most appreciated sports brand in the world (Nike, Inc
From marketing planning to the marketing audit; each and every marketing decision which Nike makes is affected by the micro and macro environments which are present in its external business environment. The micro environment consists of forces and actors that are close to the company's operations; including suppliers, distributors, competitors, customers, and market intermediaries (Saxena 2009)
Other companies like Reebok, can offer lower prices in the hope of competing with companies like Nike. This pricing strategy also relates to advertisement and promotions because it relies on popularity and success of the brand in order to establish pricing (Chu, 2010, pp
They suggest marketing variables provide an impact on brand-related intangible assets by the kind of branding strategy the company adopts. This also signifies that customer satisfaction and firm value are linked leading to the conclusion that advertising has an "indirect impact on firm value, as well as a direct effect" (Joshi & Hanssens, 2010, pp
They both wish to inspire the consumer into becoming something better than what they are now. Reebok does this by using inspirational and well-known figures to show their product helps these notable athletes achieve the results they have and Nike inspires consumers by using their products a means of combating negative aspects of personality like laziness (Knight, 2002, pp
Trust is an important thing to have when it comes to the purchasing patterns of most buyers. In an article by Saha, Dey, and Bhattacharyya their findings show that quality and durability are "the most important factors among the product factors followed by design and product warranty" (Rajiv, 2002, pp