Sneaker Beats Product Launch Week 2 
Sneaker Beats Product Launch
Myrna Dy, David Larson, Makova McCaskal, Gary McDaniel, Lindsey Romack, Thomas Tucker
November 3, 2014
MKT 571
Melodi Guilbault
Sneaker Beats Product Launch Developing a product launch plan is a critical piece of product development as it lays the groundwork for the success or failure of the product. In week two, learning teams were tasked to choose a company and develop the first part of a product launch plan for a new product in both the domestic and international markets. Learning Team D chose Nike and will be launching their new product, Sneaker Beats.
Market Needs and Growth
The target market for Nike Sneaker Beats involves specific demographic information. Essentially, this product will target the whole demographic structure ranging from children, youth, and adults enjoy exercising and relaxing.
Running is one of the key categories that helps Nike maintain its industry leader position and fuels growth. Nike 's consumer-focused strategy will drive growth through market place capacity and penetration (Sneaker News, 2012) and enable Nike to deliver Sneaker Beats to consumers. Nike plans to grow in its developed geographies, such as North America, Western Europe, and Japan, as well as develop its market geographies in China, Central and Eastern Europe, and other emerging markets (Sneaker News, 2012). To meet the rising demand based on growing economic prosperity coupled with a trend towards leading a healthy lifestyle (Trefis, 2014), Nike will open 250-300 Nike-branded stores worldwide in the next five years. This strengthened domestic and global retail presence, coupled with strong brand recognition, Nike is expected to gain market share in Nike Sneaker Beats product.
SWOT Analysis
Strenghts
Nike dominates the sports footwear market with a product line that caters to a variety of sports.
Strong brand recognition and loyalty has made the company a global household name in footwear.
Nike 's commitment to
Myrna Dy, David Larson, Makova McCaskal, Gary McDaniel, Lindsey Romack, Thomas Tucker
November 3, 2014
MKT 571
Melodi Guilbault
Sneaker Beats Product Launch Developing a product launch plan is a critical piece of product development as it lays the groundwork for the success or failure of the product. In week two, learning teams were tasked to choose a company and develop the first part of a product launch plan for a new product in both the domestic and international markets. Learning Team D chose Nike and will be launching their new product, Sneaker Beats.
Market Needs and Growth
The target market for Nike Sneaker Beats involves specific demographic information. Essentially, this product will target the whole demographic structure ranging from children, youth, and adults enjoy exercising and relaxing.
Running is one of the key categories that helps Nike maintain its industry leader position and fuels growth. Nike 's consumer-focused strategy will drive growth through market place capacity and penetration (Sneaker News, 2012) and enable Nike to deliver Sneaker Beats to consumers. Nike plans to grow in its developed geographies, such as North America, Western Europe, and Japan, as well as develop its market geographies in China, Central and Eastern Europe, and other emerging markets (Sneaker News, 2012). To meet the rising demand based on growing economic prosperity coupled with a trend towards leading a healthy lifestyle (Trefis, 2014), Nike will open 250-300 Nike-branded stores worldwide in the next five years. This strengthened domestic and global retail presence, coupled with strong brand recognition, Nike is expected to gain market share in Nike Sneaker Beats product.
SWOT Analysis
Strenghts
Nike dominates the sports footwear market with a product line that caters to a variety of sports.
Strong brand recognition and loyalty has made the company a global household name in footwear.
Nike 's commitment to
References: IBISWorld US. (2014). Operating Conditions. Retrieved from http://clients1.ibisworld.com.ezproxy.apollolibrary.com/reports/us/industry/operatingcon ditions.aspx?entid=369. Marketing 91. 2014. SWOT of Nike. Retrieved from http://www.marketing91.com/swot-nike/ Hovers Sneaker News. (2012). Nike Introduces 2015 Global Growth Strategy. Retrieved fromhttp://sneakernews.com/2010/05/06/nike-introduces-2015-global-growth-strategy/ Trefis Valueline. 2014. Nike: A Brief SWOT. retrieved from http://www.valueline.com/Stocks/Highlight.aspx?id=15623#.VFTqz933aK0 Appendix 1 – Customer Survey