1. What would you consider Nike’s superb marketing skills? To begin with, the quality of product is the first marketing skill in Nike. The company’s strategy for quality is building superior products which mean Nike will produce excellent and advanced sport goods and better than other company’s products. Then, the technology is another essential part for product. The best example is that Nike’s initial success resulted from the technical superiority of its running and basketball shoes. In the second place, promotion is another marketing skill of Nike. Nike spends hundreds of millions of dollars annually on big-name endorsements, splashy promotional events and many attention-getting ads. Moreover, Nike has associated itself with some of the biggest names successfully. People will associate with Nike when they see some of famous athletes. That is a good method that Nike can differentiate their brand and logo in the eyes of everyone. Finally, focusing on innovation and introducing new sub-brands is Nike’s final superb marketing skill in this field. The good instance is ‘jumping man’ and the ACG line of outdoor and hiking styles.
2. Why does Nike require these skills to compete in the marketplace?
There is one thing we need to know that the main aim of every company (in every field) is obtaining more profit. So, how did they do that? Firstly, the need of customers is very important. Satisfying the demands of consumer is easier to occupy more market share. Secondly, creating more value and long term relationship with customers is also important for companies. For example, Nike associates their products with some famous athletes. It could make people who wear the swoosh feel as if they were winners. It seems building more values for consumers, not just about the sport goods. This is why Nike requires these skills to compete in the marketplace.
3. Show how marketing principles and practices will enable Nike to satisfy these needs, bearing in mind...