Table of Contents
An opening statement
Segmentation of the Market
Market Segmentation
Placing a product or service in the market.
To sum up,
This is the start of something new
Bill Bowerman, Phil Knight and their headquarters in Beaverton (Oregon) were the first to establish Nike. This company is both a major supplier and manufacturer of sporting equipment. Nike targets athletes, mostly young adults, as their market. Nike’s products have been improved over time by making them more comfortable and lighter. This allows customers to wear the products for longer periods without sore feet. Nike has a wide range of shoe styles and colors available to their customers. They mainly offer shoes that are suitable for running, training, or lifestyle. They also sell a variety of equipment such as clothing, bags, guards, soccer balls, and gear. Nike’s mission to help people reach their full potential is their goal. They also aim to have a positive effect on the lives of those they serve. Nike has over 100 stores worldwide to provide services for a greater number of people.
Segmentation of the MarketNike customers are divided into four categories: demographic, geographical, psychographic, behavioral, and psychographic. Nike used different age groups, genders, and financial information to segment their customer base. Nike has divided its products according to age, which is between 15-55 and gender. The three categories are men’s products, women’s products and kids products. This allows customers to be better served and has a better shopping experience. Nike offers discounts and sales to satisfy everyone’s needs. Nike, for example, would promote sales during Great Singapore Sales to increase customer purchase. Nike has made products that are tailored to the needs and cultures of each country. Nike has created clothing and footwear that can withstand cold weather in winter. This is a departure from the only season that Nike has in Singapore: summer.
Nike provides a variety products to suit the needs of their customers. Nike’s mission is to “Inspire and Innovate Every Athlete in the World”. According to their mission statement, they try to meet their customers’ needs. Nike is able to identify the preferences of each customer. Nike shoes are preferred by young adults due to their fashion-oriented lifestyle.
Nike offers customers benefits through behavioral segmentation. They provide active lifestyles with high-quality footwear, clothing, as well as useful and comfortable sports equipment. Nike does realize that they have to make their products better in order satisfy all customers. Nike, for example, has created similar shoes in Nike Air Force 1 High iD or Nike Air Force 1 Med iD. These shoes are designed to fit different customer preferences.
Market TargetNike is looking for people who are active and who wear fashionable clothing. Nike has separated their customers into three main product categories: women’s and men’s. There are twelve categories of shoes for men that include lifestyle, running and gym & training. They also offer footwear that can be worn on the court. Nike provides different options to women than for men. Nike’s focus on children’s products is how they aim to inspire young athletes. Nike offers a variety of color options for their shoes to ensure that they can provide the right shoe for their customers. People are also living a healthier lifestyle. They exercise more, eat better, and they are more inclined to do sports or jog. Nike is aware of this trend and produces products that are comfortable and can be used to exercise.
Market PositioningMarket positioning helps Nike stand out from other competitors such as Adidas or Puma in the marketplace and makes it more likely that customers will buy from them. Nike has their positioning statement, “For serious athletes,” which states that Nike offers confidence to provide the best shoe for any sport. Customers who are motivated to succeed in their chosen sports will choose Nike products. Nike makes their products to meet the specific needs of their customers. There is a strong position in sports achievement in today’s society. Nike is the No. 1 sports manufacturer worldwide and has been leading in over 100 countries. Nike is a strong brand that customers trust when it comes to sports products. Nike has been able to position itself as a high-quality brand due to their high-quality products and strong impression.
ConclusionNike is able to build emotional connections with its customers by inspiring active lifestyles and promoting awareness. People are more sedentary as technology advances. People tend to spend more time working and less time exercising, which makes their leisure seem even less enjoyable. Nike inspires those who are busy with work to get more active. Nike reminds them to take care of their fitness and health. Being active can have many benefits, both for your body and mentally. Nike encourages customers to share their track record on social media and mobile apps. Customers who are already customers can share their joy and pride with others and inspire others to get active and be more aware of their health.
