When a business creates a new product they must carefully consider possible techniques to advertise and market this product to the public. The more that the techniques are carefully planned; the more likely it is that the product will receive more recognition and do better overall. Techniques and effectiveness of Nike’s marketing.
Nike put an intense amount of dedication and seriousness into their marketing which have proven to obtain increased sales figures and profit. This is clearly shown due to the fact that Nike spends billions on advertising and marketing every year.
How Nike changed their market strategy.
* Nike have decided to alter their target audience to 17-year-olds as research has indicated that they spend 20% more on trainers than their adult counterparts. This has proven to be extremely effective as the creation of trainers aimed at this age group have been hugely successful in terms of sales and profit for Nike. * Nike have realised that there are options for them to branch out to other areas of marketing such as electronics. Nike has since released the new products, the Nike+ sports watch and Nike+ Fuel Band. This is extremely effective as electronics are hugely appealing for late teens and people in their early twenties which is Nike’s target audience. Nike has had over 150 million runs logged since the launch of the sports watch and Fuel Band, indicating a huge and vast amount of success. * Nike has now proceeded to change the way that they advertise and changed from a traditional form of advertising to a new and unorthodox form. They now use an interactive, digital form of advertising which will also appeal to their target audience who tend to indulge themselves with the luxury of electronics. * Major adverts which have been directed by worldwide known and award winning directors are now being uploaded to and familiarised...