Final Marketing Plan Paper FINAL

Topics: Marketing, Athletic shoe, Nike, Inc. Pages: 19 (6006 words) Published: June 7, 2015
FINAL MARKETING PLAN

Final Marketing Plan
Team C
MKT/421
December 8, 2014
University of Phoenix
Instructor Catherine Lovett
Final Marketing Plan
The following paper is the last step in the final marketing plan for Team C’s newly created product for an existing company, which in this case is Nike Corporation. The team was required to compile the last four weeks of assignments in which the team discussed the different aspects of marketing a new product. In this final phase of the five week long assignment, the team was to combine their Strategy and Positioning and Product, Pricing, and Channels papers along with their promotional strategy for the new running shoe into a single Marketing Plan. In addition to the compilation of the previous papers, the team discussed advertising of the product, public relations, the digital marketing arena, sales promotion of the medically prescribed running shoe, direct marketing, outdoor, and event marketing, as well as an initial budget for the marketing plan, a discussion of possible effects selling may have on the team’s offering, measures taken to insure successful launching of the product, and finally, any ethical issues that might be of concern in regards to the marketing of the new product. Compilation of Phases I, II, & III

Founded by two men, the company was established on January 25, 1964, as Blue Ribbon Sports, by Phil Knight and Bill Bower man. The company officially became Nike, Inc. on May 30, 1971. The company takes its name from Nike the Greek goddess of victory. Nike markets products under brands such as Nike Pro, Nike Golf, Air Force 1, Nike Dunk, Air Jordan, Nike Skateboarding, and companies including Converse, Brand Jordan, and Hurley International. Also, Nike manufactures sportswear and equipment, and the company operates retail stores under the Nike town name. The Nike Corporation is introducing a new product geared toward individuals with orthopedic issues. This new shoe will be branded the “Nike Adjust” and will be available only through your doctor and customized for your individual foot issues. Individuals will receive a prescription for their shoes at their doctor’s office and then their specific shoes can be ordered from participating shoe stores. This paper will discuss the marketing plan for this product including explanation of the product, advertising, public relations, the marketing strategies, and professional selling effects on offer, initial budget plan, methods to success, and the ethical issues in this plan that may arise in the future. The Nike Adjust is a self-adjusting shoe with sensors in the bottom that can be adjusted. The adjustments will allow even distribution of air flow based on your individual foot problem and how severe it has become. Each pair of Nike Adjust shoes will be customized and any adjustments needed, can be made at specialty stores or at your doctor’s office. Whether walking, jogging, or running, foot pain will slowly diminish for sufferers. Individuals can also customize their Nike Adjust shoes based on color and style so they don’t feel like they are wearing “healing” shoes. For example one segment could be the 20 to 40 year olds that are very active and have had injuries or chronic foot issues that are looking for a way to stay active without pain. These individuals could be marketed to by Nike having endorsements from professional athletes whom may have had foot injuries. Another way to target them would be to have advertisements during professional sporting events, or sponsoring marathons or other running events. Another segment of the larger targeted market maybe those over 40 or 50 years old that are not focused on fashion as much but more ease of use, and pure comfort of the product. And they are individuals that may not be focused on high intense exercise or focused athletic support. These individuals will be looking for a practical product that provides support in a concealed shoe that is easy...

References: Bryan, Rodger (February 19, 2014). 5 Simple Digital Marketing Strategies That Can Help Your Business Grow. Huffinton post. Retrieved from http://www.huffingtonpost.com/roger- bryan/5-simple-digital-marketin_b_4816425.html
Cannon, J. M. (2011). Advertising, Publicity, and Sales Promotion. In Basic Marketing: A Marketing Strategy Planning Approach (19th ed.). New York, United States: McGraw- Hill Irwin. Retrieved November 12, 2014
http://www-personal.umich.edu/~lormand/poli/nike/nike101-8.htm
http://www.statista.com/statistics/278834/revenue-nike-adidas-puma-footwear-segment
CBS Interactive Inc. (2007, July 9). Crafting a Product Public Relations Campaign. Retrieved from CBS News Moneywatch Web site: http://www.cbsnews.com/news/crafting-a- product-public-relations-campaign/
Sandilands, T. (2014). Marketing Issues That Have Ethical Implications. Retrieved from Small Business Chron Web site: http://smallbusiness.chron.com/marketing-issues-ethical- implications-24089.html

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