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Question 3: The marketing mix and innovation (40 marks, 500 words) Nikes marketing strategy consists of market segmentation,
Question 2: Product offering and targeting (30 marks, 300 words) A. Discuss the three levels of a product by using the Lebron
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1. Nike has made use of psychographic segmentation strategy. The company has segmented the market based on lifestyle of the people - sports loving. Fitness freak and non fitness freak people.. Few people are extremely adventurous, sports loving and fitness freak people whereas others are lethargic and non-fitness freak people. Once the market is segmented, as Nike is into manufacturing of sports clothing, socks, footwear, digital devices and sports equipment, they have chosen the segment which is sports loving and are fond of these equipments and accessories.

Nike has made use of differentiated targeting strategy. It means , the company manufactures and makes differentiated products available for different sets of customers. For instance, Nike has shoes for different customer needs like Basketball shoes, Tennis shoes and Shoes for running (Athletic shoes) based on customer requirements.

2. Positioning is creating a unique image in the minds of the customers through specific products and communication. Nike has created product and usage based positioning in the minds of the customers. They manufacture sports footwear and accessories and create a unique image in the minds of the customers through the features of the products and its usage by the customers. For instance, Nike has created a specific positioning that it is ideal for the sports loving people and provide all the accessories, equipments and products suitable for the sports people. Thus the company meets all the requirements of sports loving people.

3. Nike's Marketing mix elements are as :

Product : Unique product features, catering to all the needs of the sports loving people. High quality sports products, accessories and equipments suitable for all the sports needs.

Price : Premium pricing keeping in mind the premium quality of the products offered by the company.

Place : Exclusive distribution strategy available in exclusive outlets of Nike.

Promotion : Promotion through Print Media (Sports Magazines), Broadcast Media (Television Sports Channels), and Publicity (Brand endorsements of various Sports events).

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