Answer To: II Segmentation, Targeting, and PositioningSegmentation, Targeting, and PositioningA. Identify...
Ayan answered on Apr 22 2023
WRITTEN ASSIGNMENT 2
WRITTEN ASSIGNMENT
Table of contents
II. Segmentation, Targeting, and Positioning for Nike 3
Identify Relevant Markets and Segments 3
Select Target Markets and Target Segments 4
Develop Positioning Statement 5
III. Determine Marketing Mix Alternatives 6
Product 6
Price 7
Place 8
Promotion 9
References 10
II. Segmentation, Targeting, and Positioning for Nike
Identify Relevant Markets and Segments
Nike is a global leader in athletic footwear, apparel, equipment, and accessories, and caters to a diverse range of customers. The company's main markets and segments are:
· Athletes: Nike has long been connected with sports and athletes, and the company focuses on athletes who take their sport seriously and need high-performance equipment to give it their all (Nguyen, 2023). Athletes, both professional and amateur, who want high-quality items to improve their performance and assist them in reaching their objectives, make up this market sector.
· Customers who are interested in fashion: Nike has established itself as a brand that caters to those who are interested in trendy and fashionable clothes and footwear. Young individuals who are interested in the newest fashion trends and desire to look beautiful while being active make up this sector.
· Fitness enthusiasts: Nike offers clothing and footwear that is both fashionable and comfortable for people who like working out frequently (Merikanto, 2019). People, who participate in a range of physical activities, such as jogging, yoga, working out at the gym, and more, are included in this segment.
· Lifestyle customers: In addition to serving sports and fitness enthusiasts, Nike also appeals to consumers who are attracted to the brand's cutting-edge looks and cutting-edge products but are not necessarily engaged in sports or fitness. Street wear, casual attire, and accessories are of interest to this group of people.
· Kids & youth: Nike is a well-liked brand among this demographic due to its strong associations with sports and fitness (Fontaine, 2020). This market group consists of kids and teens who desire to seem fashionable while participating in sports or other physical activities.
Select Target Markets and Target Segments
Based on the relevant markets and segments identified for Nike, the company's target markets and segments are:
· Fitness enthusiasts: Nike also caters to those who like yoga, fitness, and other forms of exercise and need footwear and attire for the gym that is both fashionable and comfortable. Regular exercisers who desire comfortable, long-lasting, and stylish footwear and apparel fall into this category. Nike has been able to develop a variety of items that are tailored to the unique requirements of fitness lovers because to its concentration on this market.
· Professional and amateur athletes: Professional and amateur athletes that need high-performance equipment to compete in their respective sports are Nike's core target market. The business has a lengthy history of creating novel items that are specifically suited to the requirements of athletes (Sharma, Kaur & Syan, 2021). By concentrating on this market, Nike has developed a solid reputation as a company that offers goods that assist sportsmen in reaching their objectives.
· Lifestyle consumers: Nike also caters to lifestyle customers who are lured to the company's cutting-edge merchandise and fashionable designs. People that are interested in street wear, casual apparel, and accessories are included in this market category. Nike has been able to expand their product line beyond sports and fitness and appeal to a wider audience as a result of focusing on this market.
· Youth: The Corporation targets young people who are affected by Nike's strong ties to sports and fashion since the brand has long been identified with youth culture. Children and teens who desire to look fashionable while participating in sports or other strenuous activities...