Nike’s Marketing Mix Report

Task B - Nike’s Marketing Mix Report
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Task B - Nike’s Marketing Mix Report
Nike is an American-based corporation in the shoe industry; and, specifically, a global brand that most consumers depend on to meet their footwear needs (Childs & Jin, 2018). However, specific weaknesses and threats limit the firm’s productivity to perform better and continue being increasingly relevant to the target audience. In this case, marketing mix recommendations are necessary to address the existing problems that can ruin Nike’s performance, including affecting its position within the market. Most importantly, the recommendations should incorporate the company’s positioning strategy, target market, and an increasingly appropriate marketing mix for this company to re-strategize and fight pending undesirable conditions that potentially affect its performance. First and foremost, how any company positions itself within a specific market determines whether the company will succeed in its operations and profit generation. Therefore, it is always recommendable for Nike to position itself strategically to win the hearts of its potential buyers accessible in the markets in different regions. Specifically, it is recommendable for Nike to consider creating unique pieces that other third parties can hardly counterfeit and create fake ones. (Akintunde, 2018). The strategic positioning process should mostly happen in the United States (U.S.) market, where most of its customers are situated. The company should open more retail stores in this region to fully meet the consumers’ needs.
The second marketing recommendation is that Nike should stretch its efforts towards increasingly focusing on establishing a physical presence in an untapped area. The decision is potentially significant to avoid overdependence on the U.S. market which is its main focus area regarding selling its brands to consumers (Zhu, 2022). Moving beyond borders is a critical...