Nike Essay Example | Topics and Well Written Essays - 500 words

Nike - Essay Example loyed wherein the market would be segmented on the basis of the ‘benefits’ sought by the customers and the ‘user status.’ This method of segmentation would provide ‘athletes’ and ‘women involved in fitness exercises’ (say yoga) as two potential market segments. In addition to the aforesaid consumer segments, we can target the various athletic training centers and sports clubs for the new Nike shoe as business customers. We will convince the management of such centers and clubs about the superiority and functionality of the new Nike shoe so that we can sell in bulk to these centers. These institutions will serve as a lucrative B2B market for the new brand. Mass marketing refers to offering the product to the entire market without taking into consideration the differing needs of the customers. Multi-segment strategy refers to offering the same product in more than one segment. We will not adopt the mass marketing or multi-segment strategy for the new Nike shoe but would go ahead with a concentrated strategy when the product is launched. We have decided to target athletes from amongst the possible consumer market segments discussed above. The new shoe from Nike would be of great use to athletes as these shoes are extremely light and do not, in any way, compromise on durability and stability. To begin with, we will go ahead with the B2C model and make the shoe available at exclusive Nike stores as well as through the online store. In addition to this, we will use the selective distribution strategy and make the shoe available at few select multi-brand stores as well. The consumer of the Nike shoe will pass through four distinct stages; Attention, Interest, Desire and Action (referred to as the AIDA Model). The buying process of the consumer begins with need identification. The consumer feels a state of deprivation and feels that he needs a certain product to get rid of the state of deprivation. In other words, the consumer needs a product to satisfy