Nike Target Market

Declaration of Intent

Our mission is to provide a service that fulfills the needs of our customers. We are committed to providing the best possible experience while striving to exceed expectations. We strive to ensure that our products and services are of the highest quality and value.

Nike aims to introduce inventive designs and make their products more advanced.

Providing a sustainable approach to athletic performance for all athletes, a new way of thinking has been unlocked. This includes empowering factory workers and aiding business growth. To achieve this, the company has employed various experts, including chemists, biomechanists, physiologists, materials developers, coders, and planetary astrophysicists.

Variety of Goods

The company offers a wide selection of items for sale.

Nike’s product line generated the most revenue in the footwear sector at around 9.32 billion U.S. dollars in 2018 (Statista, 2007). Shoes, sports equipment, apparel, and accessories, such as bats, balls, eyewear, and electronic devices, are all key brands specializing in playing basketball, soccer, football, baseball, tennis, and running. Although footwear is the most significant contributor to Nike’s annual sales, franchises like the Jordan brand also help generate income. The sector that produces the most negligible revenue for Nike is the equipment sector, according to the Nike timeline revenue from 2009 to 2018.

To comply with its goal of zero hazardous chemical discharge in its supply chain by 2020, Nike intends to phase out their product. To meet this objective, they are collaborating with brands, materials suppliers, and the chemical industry to provide an innovative solution for disclosure and transparency in chemical management. The company considers it essential to make progress in this area, eliminating hazardous materials from its supply chain plan.

Worldwide Proposal

An international initiative has been launched to extend the reach of our services to a broader audience. This offering promises to provide the same high-quality standards regardless of the customer’s geographical location.

Nike has a global reach which can be attributed to its high number of international employees. The company is dedicated to the international rules of human rights and is continuing to expand its operations to new countries. Nike President & CEO Mark Parker is insistent on maintaining a work environment that is free from unlawful discrimination and any form of harassment based on sex, sexual orientation, gender identity, gender expression, race, and religion. The organization is also committed to providing employees with a healthy work atmosphere.

Reaching a Specific Audience

Targeting a particular group of people for marketing is a common approach used by businesses. This method is known as target marketing and involves tailoring messages and products to appeal to a particular demographic. It is an effective way of reaching the right people and getting the desired result.

In the United States, Nike is the most prominent player in the athletic apparel and footwear industry. The organization’s rapid growth is attributable to its ability to keep a competitive edge, particularly in regard to the female customer base. By utilizing new market strategies, the company’s annual sales and profits have risen since 2005. Under the direction of CEO Mark Parker, the company is expanding its women’s line to include sports bras and tights.

As part of its efforts to have its female-oriented training and running apparel outstrip the menswear, the international target market of the company is devising a women’s campaign. To boost the success of its women’s line, the company is coming out with new couture-style items such as skirts and jerseys with lace-trimmed detailing.

Nike sees an upswing in their target market of women in their twenties and thirties, who are driving the athleisure trend by purchasing leggings with the intention of either hitting the gym or running errands. The company’s goal is to raise further the profile of its female clothing line, which is currently in the growth phase and experiencing steady progress.

Cost Plan

Creating a cost plan is integral to a business’s overall strategy. It aids in establishing the prices of products and services, as well as the company’s profitability. It also helps the company determine the amount of budgeting and resources that should be allocated for each product or service. Additionally, a pricing strategy should consider the competition, the marketplace, and the company’s financial health.