Nike uses the 4 p’s of marketing strategies to compete against various companies involved in footwear, apparel, and athletic equipment markets. Without utilizing the 4 p’s Nike wouldn’t be as big as they are today with continued growth. Here are the 4 p’s that Nike uses to maintain and continue to keep their company one of the top sellers in the world.
Slide 1 Product- Products or product mix is the set of products offered to target customers. Nike’s marketing strategies involves growing the business through market-based changes in the
product mix. For example, the sports and leisure footwear research and development investments produce new product and enhance versions of current products. One example I can think of being a sneaker head is the Nike air max. They have continued to make the same sneaker since 1987 and just call it the “air max 2022.” People, like myself enjoy the wait to see what the new product will look. Nike continues to change its product with the times, and they pay attention to what the people want. I feel like Nike could improve by allowing customers to pick the colors on the sneakers they are purchasing. Nike already has a feature where you can make your own sneakers online. I feel like this could improve if you could pick your colors on every pair of sneakers. Slide 2 Place- Place or Distribution outlines the venues where the sporting goods company’s products are sold, accessed, or distributed. This P focuses on optimizing Nikes market reach.
Nike shoes and apparel are sold in many different retail stores including small local to regional stores. There are many ways people can purchase the Nike brand from retail stores, outlets or
online. I do not feel there is improvement needed.
Slide 3 Promotion- Promotion or promotional mix is the tactic that Nike uses to communicate with its target market. Nike and other companies depend on effective promotion of its products to continue having a strong brand. Advertising is a huge part of Nikes success. Nike uses a lot of high-profile athletes and celebrities to promote their brand. Some other tactics used are personal selling through sales personnel. Employees persuade target consumers to buy certain sporting goods. Nike also uses promotes its products through colleges and local sports teams. Nike will also offer special offers to generate more sales. Nike will also sponsor and provide financial support to organizations such as community-based networks. I feel like Nike could improve by going on sale or running more promotional sales. As a big sneaker collector, I find that none of the popular sneakers for Nike ever go on sale. This could bring in more customers and bring more wealth to the company in the long run.
Slide 4-Prices- Prices or pricing strategy identifies the prices that maximize profits while attracting the desired share of the multinational market for leisure and sporting goods. Nike’s technology investments relate to marketing to offer Nike products at premium prices. Nike also
takes into consideration current market conditions on setting price points and price ranges.
In the Value based pricing strategy Nike takes into consideration consumer perception about the value of it products. Perceived value is the maximum prices that consumers are willing to pay for the company’s sports products. The premium brand strategy sets Nike products as higher in quality and value than competing products.
