MKT333 Marketing Strategy Paper

Marketing Strategy Paper: Nike Lloyd Stackhouse, Ryan Fisher, Tony Espinoza, and Kyle Romero Department of Marketing: California Baptist University MKT333-A: Principles of Marketing Roston Willis March 31, 2023
Question 1: Kyle Nike is a world-renowned company for its athletic attire and high-quality running shoes. However, Nike did not start out trying to make the best pair of shoes, but instead a better way for people to get into shape. With the popularity of jogging sweeping through the US in the late 60s and 70s, Bill Bowerman, one of Nike's co-founders, researched and published multiple articles and books on why jogging should be a part of a fitness program. Having made a unique running shoe called the "Nike Moon Shoe," Bowerman provided a new and useful product that allowed people to join in on the national trend and jogging exercises (Moon, 2016). Nike's beginning strategy was to sell "easily indefinable benefits instead of the product" (Moon, 2016). With Bowerman's goal of creating the lightest running shoe, instead of trying to explain the intricate details of his product, he sold the idea of, the lighter the shoe, the faster a person can run. However, to stay relevant, this strategy had to evolve. Instead of pamphlets being handed out, they expanded their marketing strategy by embracing the new technologies of everyday life. Nike began by starting printing ads in the newspaper, then branched out to commercialized ads on televisions, and now of more recent times, through social media platforms. Nike recognized the fact that they needed to be able to adapt to new ways of communication as that is where their audience was moving. Having gone from direct marketing to a more digital format, Nike decided that instead of lots of text in their advertisements, they created graphics to simply show off their clothing lines and shoes alongside a short motivational line, creating stories of underdogs or simply celebrity partnerships to gain further attention. However, Nike took it further and diversified their digital marketing on media platforms by creating multiple accounts for each specific genre for different audiences. Putting their great adaptability aside, another one of the reasons Nike has been so successful in their marketing
strategy is due to always staying true to their brand message, focusing on the benefits instead of listing features of their products. Question 2: Tony Nike is a global sportswear company that targets a range of markets and segments with its products and services. Here are some of the key markets and segments that Nike targets based on demographics, geographics, psychographics, behavior, needs, lifestyle, usage, habits, and practices: 1. Demographics: Nike targets people from all age groups and both genders, with a slight focus on men's products. The company targets people from different income levels, but its products tend to be on the premium side. 2. Geographics: Nike operates globally and targets people from different regions and countries around the world. The company has a significant presence in North America, Europe, and Asia. 3. Psychographics: Nike targets people who are passionate about sports, fitness, and healthy living. The company targets people who value performance, innovation, and quality in sportswear and athletic shoes. 4. Behavioral: Nike targets people who are interested in sports and fitness, as well as people who are brand loyal and willing to pay a premium for quality products. The company targets people who are active, on-the-go, and want to stay fashionable and comfortable while being active. 5. Needs: Nike targets people who have a need for sportswear, athletic shoes, and equipment. The company targets people who want to stay fashionable and comfortable while being active.
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