Introduction
Advertisers have been exposed to various techniques of advertising especially with the up surge of interest brought about by cultural and technological changes which include the online networking social advancement. E-advertising has gained popularity in the world today such that a traditional method of advertising like use of newspapers has been used on a minimal basis. Online advertising is the best media to use when advertising your products especially since many of the people use the internet today (Etzel et. al., 1997, pp. 55).
Nike Product
Offered products to the market with an intention of acquiring, using or consuming a need in this report are the sneaker shoes (Nike, adidas among others). These products need no further description since they are known globally for their quality in performance. Nike sneakers are sporty shoes used by most runners in the world during their competitions. Nike Company has been able to come up with different types of sporty wear that meet the desires of the customers by coming up with a solution that best solves the problems brought about by competitors who want to ruin the name of the company. Nike has been able to reach a large group of audience through all advertising techniques including the use of billboards. The actual Nike product has five characteristics which include: level of quality, features, design, brand name, and packaging. Sneaker Companies also have core product which aim at solving the problems searched by different customers when buying a specific kind of product. Nike gives consumers additional benefits like a warranty of some months (Sutton, 1998, pp. 100-120).
Nike has been classified as a specialty product since it has unique features and the consumers have dedicated their time in purchasing the product. Nike’s product quality considers the level and consistency it has on the target market and competing companies. The features of Nike have been used as a differentiation tool from the products of other competitors. The usefulness and appearance of the product has been able to create awareness of the product from others, performance of the product has been improved, and production costs have been cut. They have been able to give the product a strong advantage from its competitors. Brand strategies for any company have four choices to make; line extension whereby they will be using the same brand name in introducing additional items like colors, size of packaging, and form on the product already in existence in the market. Brand extension is the second choice made by companies to launch a new category production thus the product will be accepted and recognized more easily and decreases the tools used in advertising. Multi-brands is where the seller develops two more types of brand in the same category of product. This brings about increase in the market share of companies. A new brand name is the last category of strategy where the company introduces new names of the brand in totally new categories of the product.
Nike has communicated the brand very well to the consumers by using a unique brand name and logo for its product. The method used in advertising this product is good since the consumer’s desires are fully met to suit their vast categories of individuals. Solutions have been arrived at concerning the existing competitors in the business of sneakers.
Place
Nike is a product focused company and thus needs to establish appropriate distribution channels in order to maximize the sales and profits of the business. By determining the preferred channel of consumers and comparing it with other companies, the company has been able to improve its strategies of distribution. New channels have been recommended since the times are changing. Another distribution strategy is the comparison made between the effectiveness of strategies used by the competitors and the one employed by Nike Company. After gathering all this information, an interview is carried out with the company’s distribution partners in identifying the areas to be improved on and encouraging the existing strengths. All these distribution strategies have enabled the company succeed.
Not all distribution information strategies are advertised since this will be risking. Competitors can use all tactics to come up with ways of devising the weaknesses of the company and use it to their advantage in attacking them. Adverts tell consumers the means of distribution in order to attract new groups of consumers. Giving out some information on the channels of the distribution helps in monitoring the trends of consumers and as such one can improve on them before loosing many customers to other companies. By doing this, we are going to attract more consumers to buy our products and persuade them to invest on our wide range of products available at all departmental shops and outlets (Tirole, J (1990, pp. 65-66).
Place is a marketing mix that needs to be considered always since it deals with convenience of the product’s availability and access at all times of the year.
Comments
Product is a marketing that needs to be analyzed widely in order to persuade a wide variety of consumers. Place marketing mix in Nike Company products will be able to distribute to many people since they are well located in most parts of the nation.
Bibliography:
- Etzel, J Walker, J & Stanton, J. (1997), Marketing, New York: McGraw-Hill pp. 55.
- Sutton, J (1998), Technology and Market Structure, Cambridge, MA: MIT Press pp. 100-152.
- Tirole, J (1990), Theory of Industrial Organization, Cambridge, MA: MIT Press pp. 65-70.