1.) List the various macro-environmental factors that influence Nike’s strategy. Which seem most pertinent?
The macro-environmental factors that influence Nike’s strategy include culture, demographics, social issues, technological advances, economic situation, and political and regulatory environment. Culture is the shared meanings, beliefs, morals, values and customs of a group of people. In America, Nike has become an industry leader that influences our cultural practices. It is widely accepted as the premier retail brand by all age groups. Nike has done a great job of advertising to various generational cohorts and expanding its brand. Nike’s distinguishable products have become a household name on the global scale. Nike has to specifically consider the “country culture” of not only the countries where it sells product, but the cultures of the countries where the products are manufactured. Country culture attributes include behavior, dress, symbols, physical settings, ceremonies, language, and colors. Identifying and navigating some of the more subtle aspects is difficult but necessary for global firms.
Demographics indicate the characteristics of human populations and segments, especially those used to identify consumer markets. Demographics include age, gender, race, and income. Nike uses marketing ads to target different segments of demographics. For example, Nike’s version of the toning shoe is designed to specifically appeal to women.
Social issues influence consumer behavior around the world. Recently, there has been a heavy emphasis on thrift, health and wellness concerns, and green products. Social issues are always changing in the marketplace, and are very important to capture consumer approval of a product. Analyzing social issues is important in marketing. Firms must monitor these issues to keep in tune with consumer behavior. Today, many firms are “going green” to appeal to consumers. Nike has adopted...