Question:
This assignment requires you to
For a brand of your choice you are to give a ten-minute presentation covering the following issues
- The customer needs the product/service attempts to meet
- How the brand is differentiated from its competitors
- The market segments it targets
- The position it occupies in the market
- The changing factors in the environment that are likely to impact on the brand in the next two years. You are expected to explain three
- The way the organization might alter its marketing mix to cope with the environmental changes described above.
Answer:
Nike Attempts To Meet Needs Of Customers
- Nike a well-known brand that was originally established in 1962.
- Marketed itself as a new and innovative shoe company, which constantly focuses on the athlete performance in the mind.
- But, the competitors of Nike company majorly focuses of the products appearance and durability.
- In terms of customers’ relationships, Nike builds up the profitable relationship with its customers by making managerial decisions in order to increase the customers’ base and builds up the brand loyalty from them
- Nike undergoes with the several processes, which includes brainstorming, screening, developing and testing of the newer products.
- This entire process helps in developing a high quality of products, which helps them in satisfying the needs and wants of the customers (Nasirabadi, & Bokaei, 2013).
- Nike effectively markets its products, which helps the customers in understanding the importance of the products. This aspect continuously improves the shoes through new technologies, which are developed by the research team.
- Such adoption of the newer technology highlights about the Nike unique selling point and give them an edge to fulfill the customers’ demands at large.
Nike And Its Competitors
- when we talk about the Nike competitors, Reebok andAdidas are one of the biggest competitors.
- However, Nike tends to the famous yet different from these is all because of its competitive advantage factor.
- This is all because of the three main reasons, one is Branding, Scaling, Innovation andRestructuring (Mahdi, Abbas, Mazar, & George, 2015).
References
- Nasirabadi, E., & Bokaei, M. (2013). A study on relationship of brand characteristics and customer satisfaction with brand loyalty. Management Science Letters, 3(7), 1907-1914.
- Maleklu, F., & Maleklu, F. (2016). The impact of brand experience on customers’ trust and satisfaction Case study: Computer brands. International Journal of Humanities andCultural Studies (IJHCS)?ISSN 2356-5926 , 866-873.
- Mahdi, H. A. A., Abbas, M., Mazar, T. I., & George, S. (2015). A Comparative Analysis of Strategies and Business Models of Nike, Inc. and Adidas Group with special reference to Competitive Advantage in the context of a Dynamic and Competitive Environment. International Journal of BusinessManagement and Economic Research, 6(3), 167- 177.
