Marketing Mix of Nike
Understanding the 4Ps of Marketing Mix of Nike
Established in 1964, Nike is a multinational corporation that is engaged in the design, development, and manufacturing of sports footwear, apparels, equipment, and services.
The brand has evolved over the years with changing times and needs and has modified its marketing mix accordingly to maximize its growth and profit.
Nike uses a combination of different marketing strategies and tactics with reference to its ever-changing 4ps of the Marketing Mix.
It’s worth talking about the Marketing Mix of Nike, considering the way the company transformed with time and with the changing needs of its target customers and still managed to be the leading sportswear brand in the world.
Let’s dig deep into the Marketing Mix of Nike
PRODUCT:
Nike has a wide range of products to offers to its target customers. The Marketing Mix of Nike consists of products which fall under below three categories
- Footwear
- Apparel
- Equipment and Accessories
Nike has different products for different customer segments and over the years have added to the width and depth of its products basis the changing needs of its customers.
Price :
Superior Quality Demands a Good Price.
The company uses Competitive and Skimming pricing strategy for its customer base and normally targets upper middle class and high-end customers.
Nike is known for its superior quality and world-class shoe designs and successfully manages to provide value for money to its customers.
For the products which are not run of the mill and are limited edition, Nike uses Skimming pricing strategy.
For the normal products which are in competition with its competitors like Adidas, Puma, Reebok, Nike prefers to user competitive pricing strategy to cut competition.
PLACE :
Place plays an important role in the Marketing Mix of Nike.
Nike uses both Offline and Online channels for the promotion of its products.
For Offline channels, Nike uses its own dedicated Nike outlets and Multi-brand outlets for distributing their products.
The company has set up different outlets and partnered with different multi-brand outlets in different cities of the country to reach out to the mass audience.
For Online channels, Nike uses e-commerce websites like Myntra.com, Flipkart.com, Amazon.com etc to promote their products. Nike is using these channels to sell their new launches in footwear, sportswear etc.
PROMOTION:
Just Do It
Go Beyond your limits | Achieve Greatness | Don’t Quit | Make Impossible Possible
Five different statements but they all mean the same thing and have the same essence – That’s what Nike as a brand promotes through all the promotion that it does.
Nike uses a proper mix of Online and Offline channels for promotion and creating awareness.
Nike is known for creating some world class advertisements that are inspiring and high on energy quotient.
Apart from Television ads, Nike is big on OOH promotion and sponsors different sporting events like Football, Basketball, Cycling, Golf etc.
Nike also has some famous sports personalities as its brand ambassadors and successfully uses them as influencers.
On Digital or Online front, Nike experiences some huge fan following on its Instagram, Facebook and Youtube channels. Nike successfully leverages these channels for their brand promotion and for creating awareness about their new launches.
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