Nike relies heavily on WOM and Buzz Marketing to fight their running shoes. Consumers only talk with other consumers about legitimate growths that stand out from the rest because they share certain qualities that appropriate them and heighten their emotions. WOM and Buzz are sensitive to marketing campaigns that bring home the bacon a certain outline:
* begin with consumer needs and desires
* semen up with an innovative product or service
* target the make up group and create the right message
* find the right well-disposed context, the right conditions and circumstances to spread the message
* turn WOM into Buzz by adding emotion to hype the campaignâ"often creating a consumer craze
Nike relies on endorsements and sponsorships of sports celebrities like Tiger Woods and Lance Armstrong. Sometimes, new product lines are developed under an athletes name. For example, Nike bank line Jordan Retro XI sneakers modeled after the 1996 originals were designed for Michael Jordan when he played for Chicago Bulls. Nikes Buzz Marketing strategy is risky because of the possibility of being exposed to negativity publicity that can come along with the failure of their chosen icon, which has deep happened with Lance Armstrong.
Nikes marketing strategy is based upon a brand image, which is promising and has grown into a huge multinational initiative over time. Nikes brand images, the Nike name and the assay-mark swoosh make it one of the most recognizable brands in world. Its senior high revenues are mainly due to such high brand power.
Nikes pricing is designed to be competitive to other shoe retailers. The pricing is based on the basis of premium segment as target customers. Nike as a brand commands high premiums. Nikes pricing strategy makes use of vertical integration in pricing which mode they own participants at different channel levels or inscribe in more than one channel level functioning which controls costs and...If you want to get a full essay, browse it on our website: Orderessay
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