This marketing project explains Nike Digital Marketing Plan specifically highlighting Nike SWOT Analysis, Nike Marketing Analysis and Digital Marketing Strategies.
Nike Digital Marketing Plan – Executive Summary
Key problems or Issues
Nike has the issues of the lackluster performance, especially in the North America market as the revenue is dropped by 3%. Thus, it is a greater worry for the company because the company has weak trends in the markets abroad and based on this reason the revenue of the company decreasing (Low, 2017). It is noticed that Nike is not struggling for exposure. There is no innovation in Nike Sneakers and thus, a company is facing issues.
Nike Company Analysis
Nike is known as the renowned supplier of the athletic shoes as well as the apparels. However, under the laws of the state of Oregon the company was incorporated in the year 1968. The company is effectively targeting the customers in the Asia Pacific, the USA and Europe, Company have a strong brand image as the selling of equipment, athletic footwear, accessories etc.
Nike design the products that have high market quality, there is high-quality equipment, accessory products etc (French & Gordon, 2015).
The services of Nike include customer loyalty by maintaining the guaranteed standards of the product so that customers could be retained.
The target markets of the Nike include athletes of every age.
Nike has the positive brand image, company has well recognition.
Nike Mission Statement
The Mission statement of Nike is to produce distinct and unique products. The mission of the company is “to bring inspiration and innovation to every athlete in the world, If you have a body, you are an athlete”.
Nike Marketing Situation Analysis
Nike marketing objectives include the range of the marketing communication tactics; the customers are given awareness about new products and services through managing cost-effective marketing programs.
Nike Competitor Analysis
The competitors of Nike include Adidas and Puma.
SWOT Analysis of NIKE
Nike is distributing its products globally. The company have the large market share, focus on innovation, have competitive advantages, and allows the customization of products.
Nike is weak in managing managerial effectiveness as there are less creativity and growth. There is little room for the new employees and new equipment.
The company can grow in the global footwear market through innovation. The company can focus to increase health awareness so that there could be more selling of athletic products. Foreign direct investment can also be the effective approach.
Threats for the Nike include competition which is increasing day-after-day. Other threats are changing in natural, economic, political situations.
Digital marketing efforts and internet business model
Nike has the efficient business activities as design, development is focused on the worldwide marketing activities, the company has efficient athletic footwear and it is the largest seller of the athletic apparel in the world. The company has retail stores and internet websites for the accessories and services of athletic footwear.
Nike Digital Marketing Strategies
Nike has a Facebook page which has more than 15 million likes, thus, the company focuses on the Facebook and YouTube marketing or social marketing, so that there could be effective communication with customers. Nike has 8 million views in every first week of launch thus; a company is managing product effectively (Berger, 2011).
Digital Marketing Objectives and Strategies
The goals of Nike marketing plans are the focus on the social as well as the digital strategy so that the customers could be engaged. Nike is managing online sales from the company and social media websites. In this way; the employees of the company are managing to allow mass customization so that there could be remarkable and shareable growth.
Goals of the marketing plan
Nike is focused on the consumer because it is consumer-product company and has the marketing goals to motivate the customers for the sports and fitness activities. The company changing design trends and focus on the goals of extensive marketing for the effectiveness.
Corporate or organizational strategic business unit
The strategic business unit of Nike is influencing sports and fitness preferences. Through the analysis of the company’s current market share, it could be analyzed that company has effective situation in the market and have competitive advantages.
For the action plan, it is suggested to the company in the digital age that company need to focus on the combination of technological innovations through the efficient social media engagement and new technologies. It is also recommended to Nike customer services needs to be revised so that there could be the analysis of suppliers and retailers.
Thus, there is the need to digitally survey audience or need to examine market insights so that company could create online communities and there could be Nike fans through the digital best practices. It is also recommended to Nike that company needs to keep its price and quality same so that customer feels satisfied with the brand.
Control, feedback, and financial analysis
Nike is focused on the effective strategic planning as earning good profit in the market, the company is focused on effective and efficient leadership, management so that there could be the advancement in the innovation and change. Nike has the environment that is supportive and innovative because financial analysis states that company has efficient marketing strategies.
Considering the financial analysis of the Nike, it could be noticed that in the year 2017 the operating income of the company was US$4.95 billion and the net income of the company was US$4.24 billion (Morningstar.com, 2018).
- Berger, A. (2011). A Strategic Analysis of Colgate ́s toothpaste product line: Marketing Strategy. GRIN Verlag.
- French, J., & Gordon, R. (2015). Strategic Social Marketing. SAGE.
- Low, E. (2017, September 27). Why Nike’s Weak U.S. Sales May Be A Bigger Warning Than You Think. Retrieved from https://www.investors.com/news/nikes-weak-u-s-sales-may-be-bigger-warning-than-you-think/
- Morningstar.com. (2018). Nike Inc. Retrieved from http://financials.morningstar.com/ratios/r.html?t=NKE