January!1,!2016! By using gender segmentation, the company was able to step up its marketing and sales efforts and reach out to a whole new market. Activewear market size expected to reach $546,802 mn by 2024, at CAGR of 6.5 %. 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. Market segments to be focused by the company should be accessible in terms of economy and geography. For example, the company serves small outlet shops with its products. Segmentation and Target Market Paper (Nike) Introduction. 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. The three concepts are the backbone of a profitable marketing campaign. 2. Market segmentation is inevitably followed by targeting and positioning. 10Array of Products catering to a specific Market of . Converse's changing market segment To explain this further i'll use converse… Market Segmentation of the Nike Company. Nike's Segmentation Targeting Positioning Marketing Strategy 1. 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. Market segmentation criteria of psychographic nature allow to divide the market into segments based on variables such as social class, lifestyle and personality. Segmentation Demographic Variables: •Age : 15-40, tweens and teens •Gender •Occupation •Generation 5. It is thus critical to the success of a product to get market segmentation right. Nike Inc. market segmentation has various features that give the marketers the information on the potential customers. One of the feature of Nike Inc market segments is the accessibility factor. Geographic Variables: Nike uses geographic segmentation to market … 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. Market Segmentation Definition. 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. [STRATEGIC MARKETING PLAN OF NIKE]!Page!2!! For instance, a sports company, such Nike, could not market . 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). SYED ZAID ALI SGSITS Indore 3. Its aim is to identify and delineate market segments or “sets of buyers” which would then become targets for the company's marketing plans. 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. 78 billion and this was a game-changing moment to help Adidas dethrone Nike from its position as no. Global lifestyle brand that defines American style, beauty, and luxury. 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.. The company positioned itself as a high-end athletic lifestyle company which made impact to a lot of the youth today. When customer develops loyal behaviors towards a specific company the company becomes more stable and gains an important customer base. Nike serves small and medium-sized companies as a strategy in its demographic market segmentation. These five example market segments are shown in the following diagram: The sporty market segment. Nike’s target market is largely consumers ages 15–45. In 2017, North America dominated the global market accounting for 42.3% positioning of NIKE Segmentation : Market segmentation is the process of dividing up mass markets into different groups of similar needs and wants. Geographic is simple, yet powerful segmentation basis. Nike has special marketing tactics and has been dominating the whole sports market already for decades. The marketing strategy of Nike invests a lot in commercials and product promotion. Each of these companies has conquered the markets with its quality and innovative products. Clothing company located in Costa Mesa, California. 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. 4 Jan 2020 For instance, a sports company, such Nike, could not market Based on the demographic segmentation, Nike targets individuals according. Nike Target Market Men, women and children from urban upper-middle and upper class. Beside above, who is Nike's target consumer? Please click this link to view samples of our professional work witten by our professional essay writers. Behavioural Market Segmentation Behavioural market segmentation divides a market into segments on basis of consumer knowledge, attitudes, uses or responses to a specific product. 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. 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”. The company went high-tech with its push into digital sports and e-commerce. Bases of Market Segmentation. This severe competition made Nike to do its best and to be a winner in the vast market. Market segmentation of the Nike company 3635 Words | 15 Pages. Everybody knows that Nike is a dominant company, and they reach their goals due to the right advertising campaigns. Market Segmentation 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. marketing plan of NIKE - papers in the SSRN. High-Income + Fitness-Centric + Sports Enthusiast. Do we need an introduction? who effective form 38% of our database. The right information to the right customer a the right time can create loyalty and give a company a powerful edge over its competition. Segmentation 4. 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. Nike segments market . If a company fails at segmentation, it also impacts the subsequent steps of targeting and positioning. Market segmentation is one of the most efficient tools for marketers to cater to their target group. In order to improve a customer’s loyalty, Nike must focus on behavioral segmentation. Nike dates back to 1964 where it was initially known as Blue Ribbon Sports. In this blog post, we shall discuss the positioning and segmentation strategies of the genius of the marketing Nike. The process is being practised by marketers since the late 1900s. In such competitive market like the one Nike participates in, it is important to gain consumer loyalty. Nike has focused its marketing efforts on the digital space in recent years. SWOT analysis of Nike analyses the brand/company with its strengths, weaknesses, opportunities & threats. Nike also held the largest market share of the global apparel market. Market Segmentation Demographics. But Nike (pdf) segmentation, targeting and positioning strategy of nike . And as the title reads, “Segmentation is central to Nike’s success,” it is actually central to any company’s success. 31 May 2016 The Nike Company-Overview (History and Current Status) . 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 is a crucial marketing strategy. The article also covers top Nike competitors and includes Nike target market, segmentation, positioning & Unique Selling Proposition (USP). Market segmentation of the Nike company Demographic Segmentation Demography segmentation they include age, race, family income, and education level, among others. It is achieved through the segmentation, targeting, and positioning (STP) process. 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. 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. 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 … Nike has focused its marketing efforts on the digital space in recent years. Cole Haan. Read more: Understanding your Audience, the complete guide to market research. Market segmentation is the process of dividing prospective consumers into different groups depending on factors like … Hurley International. Company Analysis The Nike Company-Overview (History and Current Status) NIKE, Inc. … However, given the high-price of the company’s products, it does use the income and education as targeting variables. 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