1: What are the pros. Cons and risk associated with Nike`s core marketing strategy?
Nike's excellence marketing strategies are their energy to achieve their market goals. Nike believes the "pyramid influence" that the preferences of a small percentage of top athletes influence the product and brand choice.
PROS OF NIKE'S CORE MARKETING STRATEGY:
Nike put heavily proportion in their marketing strategies and products deign. In order to sustain their dominance in the industry and retain their competitive advantages, Nike actively responds to the market trends and changes in consumer preference by adjusting ...view middle of the document...
The negative implications that will identify in this assignment are high cost incurred, influence of spokesperson, and competitors.
RISKS OF NIKE'S CORE MARKETING STRATEGY:
Nike faces many risks when they use their core marketing strategies to achieve their goals and these risks can come from both internally and externally environmental circumstance. The risks will have a negative influence about Nike's future development, for example, the market share in the world, reputation, brand image, and customer loyalty.
2. If you were Adidas, how would you compete with Nike?
Adidas needs to use marketing research to better understand consumers’ wants and needs. The company cannot just produce without a good understanding of what the customers’ are willing to buy (their needs and wants). Without this powerful marketing research they would be ending up with huge inventory with no market. Adidas also needs to consider market analysis to explore opportunities on untapped markets where the company can outrun Nike in product awareness. The company also needs to focus on market segmentation, and target the market position he wants to take. The company needs to revisit its mission and vision to better align all activities towards one and the same goal. If all efforts are directed towards one common goal – there would be minimal reasons to fail. Adidas need not stop in innovating and striving to be the best in the industry. Complacency is a common pitfall for failure.