Homework Question on Nike
- Write a paper on a company of your choice and discuss the market segmentation within that industry along with the target market for the company and the selection process for that target market.Required Elements:
- No more than 2100 words
- Include demographic, psychographic, geographic, and behavioral characteristics for the selected company.
- A positioning statement for the company with careful consideration of their brand and strategy
- Paper is consistent with APA guidelines.
Homework Answer on Nike
Consumers do not represent a homogenous grouping though they could be captured through TV and print media that are characteristically done on a frequent foundation to introduce fresh approaches and retain brand awareness and loyalty of customers. The footwear industry is not in a growth state any more, which signifies that emerging competitors in the sector may not enjoy the increased extents of growth and profit margins akin to other companies that have been in the market for long.
Though it seems improbable that a new company would venture into the industry and ensure considerable success just like Reebok and Nike, L.A. Gear realized noteworthy progress from the late 1980s. Similar to the case of Nike, the companies that are likely to venture in the market and easily triumph are the ones already thriving in the apparel sector. Nike is a leading company dealing with sports apparel and has generated an ardour for everyone to employ its brand that offer the Nike Just Do It sentiment (Mahdi, Hussain, Abbas, Mazar, & George, 2015).
The customers’ view of brand sways their purchasing decisions in the sports field thus Nike has at all times been positioning to the consumer’s anticipations, as well as athletic illusion, which is backed by prizewinning athletes. The products of Nike provide a broad scope of choices for people and vary from sports equipment, clothes, and footwear. This study focuses on the market segmentation of Nike and its positioning statement encompassing its brand and strategy.