Marketing Objectives for Nike Sports Drink
Market Objectives
Nike will have a number of different marketing objectives for their isotonic sports drink, Nike Go. A main market objective will be to establish the isotonic drink as the most credible sports drink in the market. This will not just happen though, this can only happen through a lot of promotion and appeal. Creating strong consumer awareness is very important in gaining market share as it is a completely new product from Nike. This can be done through promoting the product, Nike Go, and allowing consumers to become aware that Nike has this new product. In order to establish brand recognition, there needs to be a capture of market shares in the sports drink segment. This will mean the product, Nike Go, will be well known and therefore will be able to compete well within this market. Ultimately, the overall objective is to become the top market leader. This means being the most popular isotonic sports drink in the market.
Market Segmentation
Today we are in an age of intense competition, so it is vital to develop a product for a specific market segment, which concentrates on one type of product. Our product, Nike Go, is an isotonic sports drink in a very competitive market.
It would not be cost-effective selling to all the segments of a market. Instead, it is better to focus on the segment which will get the largest share for the company. The marketing function will therefore focus on targeting this segment. (Irish Times – Business 2000). For Nike, they have to breakdown the market into four categories: geographic, demographic, psychographic, and behavioural. For geographic, the country that the product will be released is within the UK. This includes all over England, Scotland, Wales, and the North of Ireland, with the main cities involved in sport being targeted. This is due to the constant rise in the number of people exercising and engaging in sporting activities. Demographic segmentation takes into account the different factors involved,
Nike will have a number of different marketing objectives for their isotonic sports drink, Nike Go. A main market objective will be to establish the isotonic drink as the most credible sports drink in the market. This will not just happen though, this can only happen through a lot of promotion and appeal. Creating strong consumer awareness is very important in gaining market share as it is a completely new product from Nike. This can be done through promoting the product, Nike Go, and allowing consumers to become aware that Nike has this new product. In order to establish brand recognition, there needs to be a capture of market shares in the sports drink segment. This will mean the product, Nike Go, will be well known and therefore will be able to compete well within this market. Ultimately, the overall objective is to become the top market leader. This means being the most popular isotonic sports drink in the market.
Market Segmentation
Today we are in an age of intense competition, so it is vital to develop a product for a specific market segment, which concentrates on one type of product. Our product, Nike Go, is an isotonic sports drink in a very competitive market.
It would not be cost-effective selling to all the segments of a market. Instead, it is better to focus on the segment which will get the largest share for the company. The marketing function will therefore focus on targeting this segment. (Irish Times – Business 2000). For Nike, they have to breakdown the market into four categories: geographic, demographic, psychographic, and behavioural. For geographic, the country that the product will be released is within the UK. This includes all over England, Scotland, Wales, and the North of Ireland, with the main cities involved in sport being targeted. This is due to the constant rise in the number of people exercising and engaging in sporting activities. Demographic segmentation takes into account the different factors involved,