Just Do It.

Those three words and everyone knows what I'm talking about. Nike. The brand is huge! I am a faithful Nike consumer for many reasons including the quality of the products, how they fit into my lifestyle and, I will admit, the prestige of the brand. Oh, that infamous Nike Swoosh. How did Nike build such an empire? Well I'm not a doctor, but I would have to give props to their marketing strategy. A marketing strategy is defined by identifying the target market determining the marketing mix, and building a competitive advantage.

Nike has a decently expansive target market, but can be boiled down to athletic people with a need for performance clothing and shoes. With that said, athletic people is a vast category. Nike has done a good job at separating this into many segments that tailor the consumer's needs. Placing myself into a segment would include characteristics such as female, early 20's, student, and physically active. So which Nike products do I use in my everyday life? First, their clothes are a staple in my wardrobe. Items like t-shirts, hoodies, socks, and sweats. Also, I couldn't live without my black and grey Nike Free shoes. And those are just basic Nike products! I could compare myself to my older brother who would fit into a segment such as male, mid 20's, athletic, and an avid golfer. Products that reach his segment include almost everything he uses while golfing: hat, shoes, glove, clubs and golf balls. Just the golf products alone is massive! In comparison, one could easily see how Nike reaches into countless segments composing their target market.

A marketing mix is the combination of the 4 P's: product, price, promotion and place. Nike's product? Name one. There are so many! I'm going to go with shoes. The shoes are good quality, range from causal to high performance, and are stylish. Prices range from $50 to $200+ for more customized styles. The brand is promoted EVERYWHERE! Their multi-billion marketing and advertising budget is largely responsible for their high visibility. Billboards, television, internet, sporting events and not to mention every athlete that has ever has a Nike endorsement to name a few.

Nike faces other huge competitors as well like Adidas and Under Armor. Tactics Nike has used to stay competitive include customized shoes, team jerseys, and probably the most recognizable is the multi-million dollar endorsements they enter with huge athletes. Just the brand recognition alone has paid huge dividends to Nike competitively. After analyzing the marketing strategy it is clear to me why they are such a big player in the industry. They seem to always be evolving and expanding to new markets and their faithful customers are always there waiting to get their hands on whatever it is. They know how to pull consumers in and retain that base, my bank account can attest to it!