Marketing Strategy Planning
Term Paper ID:35940
Get This Paper Free! or
A brief review of marketing strategy planning Addresses marketing systems planning marketing process planning ...... More...
3 Pages / 675 Words
5 sources, 8 Citations, MLA Format
More Papers on This Topic
A review of marketing strategy planning. Addresses marketing systems planning, marketing process planning, segmentation, and marketing mix. Uses Nike as an example and the company's overall strategy and options.
marketing strategy plan nikeProblem While Nike is the industry leader in athletic foot ware on both anational and a global basis the company\'s performance has been less thanspectacular over the past two years Hoover\'s Inc Three areas ofparticular concern to the company in relation to the refinement of itsmarketing strategy to improve the company\'s performance are a the disputebetween Nike and Foot Locker a leading athletic shoe retailer b Nike\'sstrategies for dealing with outlets the company\'s own Nike Town stores andretail Web
Text of the Paper:
The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper.
Fortune 145 (24 June 2 2: 3 , 32.Herzog, B. Thus, each of the three areas definesan objective for Nike's marketing strategy plan. Corporate Profile, (3 April 2 3): 1-6. Form 1 -K. In relation to a strategic focus on persuading Foot Locker tochange its policies, the suggested marketing strategy option is toretaliate against Foot Locker by curtailing the supply of Nike's lower-priced products to Foot Locker. Foot Locker projected that it would reduceits total order volume with Nike in the range of $15 -to-$25 million incalendar year 2 3 (Herzog B1). "Nike, Inc.". With respect to Nike's higher priced products, the suggestedmarketing strategy option is for the company to focus on the distributionof these products as customized offerings for individual consumers.Customers would (within a framework of defined options) order uniqueproducts through the company's Nike Town outlets and through the companyWeb-based retail outlet. Three areas ofparticular concern to the company in relation to the refinement of itsmarketing strategy to improve the company's performance are (a) the disputebetween Nike and Foot Locker (a leading athletic shoe retailer), (b) Nike'sstrategies for dealing with outlets (the company's own Nike Town stores andretail Web outlet, as well as discount outlet retailers), and (c) thecompany's overall retail strategy (product and target market issuesconcerning an athletic emphasis versus a fashion emphasis, as well assimilar issues affecting the retail marketing of its products). Twomarketing strategy options for the company within the context of thecompany's retailing focus are as follows: 1. The second marketing strategy option is to introduce fashionas an element of the company's product strategy. Beaverton, Oregon: Nike, Inc., 14 August 2 2. The three areas of concerns described above require the development ofstrategic responses by the company. The first marketing strategy option is to retain theretailing focus on the athletic performance of the company's products. This current researchdeveloped two suggested marketing strategy options in relation to each ofthe three objectives for the company to consider for inclusion in itsmarketing strategy plan.Foot Locker Objective In the Nike, Inc. 2. Nike must decide between marketing strategy alternatives thatessentially involve (a) efforts to cause Foot Locker to change its policiesor (b) develop alternative marketing strategies concerning the sale of thecompany's higher-priced products. "Foot Locker Reduces Orders for Nike's Highest-Priced Athletic Shoes". The rationale for this marketing strategy optionis that other retailers have been successful in customizing high-endproducts for customers, and that Nike's marketing research indicates thatconsumers are interested in customization for its higher-priced products(Keenan 69). The rationale for thismarketing strategy option is that, by withholding its lower priced productsfrom direct distribution through discount outlet stores, the company willstrengthen its position with other retailers that it needs to cultivate asreplacements for Foot Locker.Retail Objective In relation to the marketing strategy objective involving thecompany's general retail focus, the issue confronting the company involvesproduct and target market emphasis. 1). In relation developing alternative marketing strategies forselling the company's higher priced products, the suggested marketingstrategy option for the company is to seek new venues for the sale of thecompany's higher-priced products. Nike, Inc. Therationale for this marketing strategy option is that it is consistent withgeneral consumer perceptions of the company. Two marketing strategy options for thecompany within the context of the Foot Locker policy are as follows: 1. Retrieved from the Internet on 2 3- 4- 3 at: http:// www.hoovers.com/premium/profile/4/ ,2147,14254, .htmlKeenan, F. marketing strategy plan: nikeProblem While Nike is the industry leader in athletic foot ware on both anational and a global basis, the company's performance has been less thanspectacular over the past two years (Hoover's, Inc. 2. Foot Locker, Inc., which accounted for 1 .9 percent ofNike's total sales in fiscal 2 2, informed Nike in April 2 2 that it wasdropping all Nike foot ware products with a retail sales price of $12 ormore per pair (Nike, Inc. Secondly, this marketing strategy option would lead to a reductionin Nike's dependence on Foot Locker in marketing Nike products.Outlet Objective In relation to the marketing strategy objective for outlets, Nike mustconsider the preferred approaches for both lower priced products and higherpriced products. 4-5). 2. With respect to Nike's lower priced products, the suggestedmarketing strategy option is for the company to withhold its products fromdirect distribution through discount outlet stores. Works CitedBoyle, M. Throughout most of the company'shistory, Nike has focused on the athletic performance of its products,while allowing competitors to focus on aspects of fashion (Boyle 3 ). "How Nike Got Its Swoosh Back". The rationale for thismarketing strategy option is that it would expand the market for thecompany's products. Further, this option wouldnot require the company to redefine its marketing mix or its targetmarkets. Oregonian (16 August 2 2): B-1.Hoover's, Inc. (4) Form 1 -K filed with the Securities and ExchangeCommission reporting on Nike's Fiscal 2 2 (closed 31 May 2 2) results,the company revealed that it anticipated substantially lower order levelsfrom its largest customer during the remainder of calendar year 2 2 and incalendar year 2 3. "A Mass Market of One". Business Week (2 December 2 2): 68-72.Nike, Inc. By changing the product elements of the marketing mix,the company would expand its target markets. The rationale for this strategy option isthat Foot Locker's heavy dependence on Nike's lower-priced products wouldcause that company to re-think its policy on Nike's higher priced products. The rationale for this strategy optionis that many upscale retailers will be receptive to the marketing of Nike'shigher priced products if they are ware that such products will not beavailable at substantially lower prices through retailers such as FootLocker. Two marketing strategy options for the company within thecontext of distributing products through outlets are as follows: 1.
If this paper is not what you are looking for, you can search again:
We can write a Custom Essay just for you.
Browse Essays by Subject