Nike Marketing Plan
Nike Inc. is a billion dollar company founded in 1972 by two young men. The founders of Nike have been successful in building a billion dollar company and maintaining the company’s reputation and standards. Currently Nike has more than 30,000 employees across six countries and more than seven thousand at headquarters in Beaverton, Oregon. Nike is very diverse concerning its employees and consumers. Nike believes that diversity and inclusion is what drives creativity and innovation for Nike to reach its highest potential. Nike’s ability to lead in innovation is what attracts and retains millions of customers around the globe. Nikes Consumer Affairs Mission states “To represent the highest service standard within and beyond our industry, building loyal consumer relationships around the world” (Nike, 2013.). The CEO laid out a plan to address marketing strategy concerning new products and services. The marketing plan explains how the company aims to grow to $23 billion in revenue by 2013. In order for this to happen the marketing department has to introduce the new exercising equipment effectively and to a targeted audience. The most important factors of the marketing mix will be price and product. Bule (n.d.), “Every year, Nike Corporation puts forward 50 million dollars as the expenses of technological research and goods development since 1995, and they studied the products from many points of view, such as biomechanics, engineering technology, industrial design, chemistry, physiology and so on.”
Equipment Description
Nike has designed new exercise equipment specifically targeting cardio, strength and toning options. The equipment is designed to be space saving with a fold up design for easy storage.