Table of Contents
Target Market Description…………………………..3
Decision Making Process…………………………...3/4
External and Internal Influences…………………….5/6
Final Campaign and Justification……………………6/7
Graphs of Survey Results……………………………8/9
Target Market Decision:
Over the course of the last twenty to twenty five years, Nike has made a clear focus on to which it wants to market their products for, as well as to whom they want to buy the products. It is clear by not only the company’s overall reputation with marketing but also with our own extensive research that we have completed over the course of the last twelve weeks, that Nike has a target market of active individuals as well as athletes from the ages of mid-teens to mid to late thirties. Basically, the target market is made up of people that have a disposable income that they are willing to spend on products that will keep them active, but also have a certain style that comes along with them. Males and females are both equally targeted by the company. The styles have their differences, but the overall products remain the same when it comes to comfort and creativity based on what the individual consumer prefers to their personality. Some of Nike’s top competitors are ADIDAS, Under Armour, and Reebok. Like Nike, they target males and females alike with a passion for fitness and athleticism. However with differences pertaining to style, affordability, as well as specific sport interest, Nike has a wider variety of people and products to market towards to overall. This is able to increase their target market passed to what the competition has the ability for. Nike has a few different segments inside their own company, Jordan and Tiger Woods Golf, which in effect, is able to narrow down their target market even more. As a global player, Nike is known throughout the entire world; culturally the brand is easily transcendent and can be manipulated based on what the target market of that country or culture values. Even though Nike is a worldwide company, it’s consumers still buy their products generally based on the same decision making process.
Decision Making Process:
Consumers begin their decision making process in everything they buy with a need recognition. In the case of buying Nike products, the need recognition begins with the consumer having a situation in which they need some sort of product whether it be apparel, footwear, or equipment. This need can arise from wear and tear of older products that are owned, the season for which the consumer is currently in, or trends and styles that may be affecting the current culture and society. The next step in the process, which is the search for information, can originate from the consumer wanting to learn more about a product that they are prospectively trying to purchase. In the case of Nike consumers, there is a number of different outlets that they can look into to try and find the perfect product for their wants and needs. Nike products are sold through online intermediaries such as the company’s actual website, Nike.com, as well as through other websites that sell sporting goods such as Eastbay.com. If the consumer doesn’t have access to the internet or prefer to shop in a retail environment they have many different options such as the outlets of Dick’s Sporting Goods and Sports Authority. The third step of the decision making process is the evaluation of alternatives. This is where consumers who are searching for information for Nike also come across competing brands such as Under Armour and Reebok. This is where a particular attitude towards a brand or a product such as loyalty and materialism come into play. For instance, many of Nike’s main consumers are repeat customers and we have found out through our surveys. This harbors a certain amount of brand loyalty to Nike and will keep those consumers from buying other products. Materialism shows how much a consumer is concerned...