Beside above, who is Nike's target consumer? Read more: Understanding your Audience, the complete guide to market research. Market segmentation is a crucial marketing strategy. Nike does not target consumers based on race, ethnicity, religion or social class. This severe competition made Nike to do its best and to be a winner in the vast market. Market Segmentation, Market Target And Market Positioning Of Nike Company Introduction The company Nike was founded in 1964 by Bill Bowerman and Phil Knight who had located their headquarters near Beaverton, Oregon. Market segmentation and targeting refer to the process of identifying a company’s potential customers, choosing the customers to pursue, and creating value for the targeted customers. The process is being practised by marketers since the late 1900s. In order to improve a customer’s loyalty, Nike must focus on behavioral segmentation. Nike Inc. market segmentation has various features that give the marketers the information on the potential customers. Features of Segmentation. Nike has focused its marketing efforts on the digital space in recent years. 4 Jan 2020 For instance, a sports company, such Nike, could not market Based on the demographic segmentation, Nike targets individuals according. It makes it easier for them to personalise their campaigns, focus on what’s necessary, and group similar consumers to target them in an effective manner.. Segmentation 4. However, given the high-price of the company’s products, it does use the income and education as targeting variables. January!1,!2016! The right information to the right customer a the right time can create loyalty and give a company a powerful edge over its competition. Nike's target market is largely consumers ages 15–45. who effective form 38% of our database. Nike serves small and medium-sized companies as a strategy in its demographic market segmentation. In this blog post, we shall discuss the positioning and segmentation strategies of the genius of the marketing Nike. The company positioned itself as a high-end athletic lifestyle company which made impact to a lot of the youth today. Geographic is simple, yet powerful segmentation basis. Its aim is to identify and delineate market segments or “sets of buyers” which would then become targets for the company's marketing plans. Geographic Variables: Nike uses geographic segmentation to market … 2. Market Segmentation is the process of identifying a company's target consumer and what segment of society they belong to, their product can belong to one or many segments (Solomon, M, Russell-Bennet, R, & Previte, J 2018, Consumer Behaviour: Buying, Having Being). The motive behind segmentation is Get to know the customer in a much more detailed manner, gain a competitive advantage and be able to serve the customers’ needs and wants in a better way. Each of these companies has conquered the markets with its quality and innovative products. Market segments to be focused by the company should be accessible in terms of economy and geography. Market Segmentation of the Nike Company. Segmentation and Target Market Paper (Nike) Introduction. 78 billion and this was a game-changing moment to help Adidas dethrone Nike from its position as no. Behavioural Market Segmentation Behavioural market segmentation divides a market into segments on basis of consumer knowledge, attitudes, uses or responses to a specific product. By using gender segmentation, the company was able to step up its marketing and sales efforts and reach out to a whole new market. Please click this link to view samples of our professional work witten by our professional essay writers. Nike, Inc. is a public multinational organization based in the United States; the headquarters are in Washington County, Oregon with operations of the company focusing at the apparel and accessories industry. Published Date: 23 Mar 2015 Last Modified: 10 Jan 2018 Disclaimer: This essay has been written and submitted by students and is not an example of our work. Through Nike’s years of existence in the business, it has gained much of the American athletic gear and apparel market with 40% as well as 34% of the worldwide market. SYED ZAID ALI SGSITS Indore 3. Nike’s target market is largely consumers ages 15–45. Segmentation, targeting and positioning of Nike Woman Air Max 2012: Segmentation: Nowadays, when carrying out business plan or business activities, almost companies do segmentation for products before those products launch out market. Nike dates back to 1964 where it was initially known as Blue Ribbon Sports. Nike segments market . It is achieved through the segmentation, targeting, and positioning (STP) process. Market segmentation of the Nike company Demographic Segmentation Demography segmentation they include age, race, family income, and education level, among others.Besides, it was observed that the majority of the respondents consist of professional from various fields like engineers, software professionals, working executive etc. Company Analysis The Nike Company-Overview (History and Current Status) NIKE, Inc. … Market Targeting - Nike. The article also covers top Nike competitors and includes Nike target market, segmentation, positioning & Unique Selling Proposition (USP). The aspect of demographics refers to the segmentation of the market based on the industry, company size, and location. Nike’s favorable product icon has been kept optimistic because of the strong relation with the company logo that is quite distinct and unique as well as the product slogan that has been utilized in commercials for a long period of time. Activewear market size expected to reach $546,802 mn by 2024, at CAGR of 6.5 %. These five example market segments are shown in the following diagram: The sporty market segment. When customer develops loyal behaviors towards a specific company the company becomes more stable and gains an important customer base. Market segmentation is one of the most efficient tools for marketers to cater to their target group. SWOT analysis of Nike analyses the brand/company with its strengths, weaknesses, opportunities & threats. If a company fails at segmentation, it also impacts the subsequent steps of targeting and positioning. Bases of Market Segmentation. In such competitive market like the one Nike participates in, it is important to gain consumer loyalty. 31 May 2016 The Nike Company-Overview (History and Current Status) . Market segmentation is the process of dividing prospective consumers into different groups depending on factors like … Nike Target Market Men, women and children from urban upper-middle and upper class. The marketing strategy of Nike invests a lot in commercials and product promotion. Do we need an introduction? Nike's Segmentation Targeting Positioning Marketing Strategy 1. In this example of market segmentation for sport shoes, five consumer segments have been identified, namely: Sporty, Elite sports, Everyday wearers, Fashion sports, and; Budget conscious consumers. Market Segmentation Cole Haan. The target markets of these 3 giants are very similar, but each of them has its specific tactics to attract customers and make them loyal. The company went high-tech with its push into digital sports and e-commerce. The three concepts are the backbone of a profitable marketing campaign. marketing plan of NIKE - papers in the SSRN. [STRATEGIC MARKETING PLAN OF NIKE]!Page!2!! Market segmentation of the Nike company 3635 Words | 15 Pages. High-Income + Fitness-Centric + Sports Enthusiast. positioning of NIKE Segmentation : Market segmentation is the process of dividing up mass markets into different groups of similar needs and wants. Market segmentation of the Nike company Demographic Segmentation Demography segmentation they include age, race, family income, and education level, among others. Nike also held the largest market share of the global apparel market. Clothing company located in Costa Mesa, California. Segmentation Demographic Variables: •Age : 15-40, tweens and teens •Gender •Occupation •Generation 5. A company like Nike, being a sportswear company created a brand attached to the value of great sportsmanship and athletic accomplishment, perfectly synthesised by the popular slogan “Just Do It”. 10Array of Products catering to a specific Market of . Market segmentation of the Nike company Demographic Segmentation Demography segmentation they include age, race, family income, and education level, among others.Besides, it was observed that the majority of the respondents consist of professional from various fields like engineers, software professionals, working executive … In 2017, North America dominated the global market accounting for 42.3% But Nike (pdf) segmentation, targeting and positioning strategy of nike . For instance, a sports company, such Nike, could not market . For example, the company serves small outlet shops with its products. Market segmentation criteria of psychographic nature allow to divide the market into segments based on variables such as social class, lifestyle and personality. And as the title reads, “Segmentation is central to Nike’s success,” it is actually central to any company’s success. Global lifestyle brand that defines American style, beauty, and luxury. One of the feature of Nike Inc market segments is the accessibility factor. Revenue gains were a result of retail expansion in the company’s direct-to-consumer (or DTC) channel, 10% store comps growth in 1H15, and higher e-commerce sales. It is thus critical to the success of a product to get market segmentation right. Market segmentation is inevitably followed by targeting and positioning. Converse's changing market segment To explain this further i'll use converse… Everybody knows that Nike is a dominant company, and they reach their goals due to the right advertising campaigns. Nike has focused its marketing efforts on the digital space in recent years. The firms can segment the market on the following bases: Geographical Segmentation: Here, the segmentation is done on the basis of the geographical location of the customers. Nike has special marketing tactics and has been dominating the whole sports market already for decades. Market Segmentation Definition. Hurley International. Market Segmentation Demographics. While using geographic segmentation, the company might launch different products for that particular market or might also use different marketing strategy to attract the said geography. The geographical segmentation is based on the premise that people living in one area have different purchasing or buying habits than those living in other areas of the country. 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