Product Strategy. Business & Marketing. Coursework

Product Strategy
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 Product Strategy 
Nike Inc. is certainly the most strategic company in the apparel production industry. This is evident by the fact that it has been able to outsmart their competitors with a huge margin with a valuation of approximately $34 billion whereas Adidas, their closest competitor is valued at approximately $16 billion (Ore, 2020). The release of Air Jordan shoes in 1984, a product of Jordan Brand and a subsidiary of Nike Inc. will undoubtedly go down in history as one of the most successful product launch ever and well as the ultimate product strategy. The product was initially released with the main aim of being used by Michael Jordan only, a renowned basketball athlete (Baker III et al., 2017). Michael Jordan did not only influence the popularity of Air Jordan shoes among the basketball players but also among a majority of youths who are Jordan's admirers. Among other factors, exposure, public relation, and of course the promotion mix have a significant impact on new product releases.
 Since the release of Air Jordan I, Jordan Brand has managed to effectively release subsequent series of Air Jordan shoes, with the latest version being Air Jordan XIV (AJ XIV), initially released in 1998 (Jordan.com, n.d.). This facilitated the growth of the product. Michael Jordan’s influence remained the major driving force behind the huge market of the product among basketballers. With the emergence of other companies in the manufacture of sneakers such as Adidas, AJ shoes started facing stiff competition and its market share was threatened. To offset the threats, Jordan Brand has managed to release different collections of AJ XIV, with some minor variations in color and logo design. Jordan Brand released other versions of AJ shoes, among them the Raging Bull in 2009 that managed to clinch high market values (Jordan.com, n.d.). Nevertheless, the athleisure of AJ shoes has resulted in the dramatic decline in its market share influenced by the desire for less bulky shoes for leisure. AJ shoes are primarily meant for basketball athletes and are designed to be a bit bulky.
Basketball is a very popular sport that is aired globally via television channels. Both local and national television advertisements would be the most appropriate channels for product positioning. This ensures that the target consumers, who are the basketballers and fans are well captured. Social media platforms are another alternative for marketing and product positioning. In fact, this is the most efficient method of engaging the consumer as it has been observed that people's presence on social media platforms has increased tremendously ...