This paper will talk about Nike’s global presence and how Nike has achieved success in past years. He suggested that for high quality of products most of the people around the world are ready to compromise their preferences in product features, functions and design. Though Nike offers a full complement of athletic shoes ready to buy off of store shelves, they recognized that consumers have individual tastes and preferences, particularly consumers in other countries with varying cultural and societal differences. A partner based in the foreign market you target can help you navigate the politics and customs of the area, make connections with customers and find employees. What Can You Do With a Bachelor's in Marketing? Nike used to operate under the strategy of “Guerrilla marketing” to promote its products, a strategy and concept that they had to abandon and change once they overpassed It then goes on to describe the different forms of entry strategy, both direct and indirect exporting and foreign production, and the advantages and disadvantages connected with each method. Later, Nike adopted a standard according to which a person with 17 years of age or more can work and workers have to prove their age by submitting 3 documents certifying their age (Lee, 2000). What sort of marketing strategy has Nike used to achieve and maintain this level of market dominance?. Nike’s target market is largely consumers ages 15–45. Making Socially Responsible & Ethical Global Marketing Decisions, Quiz & Worksheet - Nike's Global Marketing Case Study, Over 83,000 lessons in all major subjects, {{courseNav.course.mDynamicIntFields.lessonCount}}, Global Marketing Management: Planning & Organization, How Global Market Segmentation Affects Products & Services, Adapting Products for Consumers in a Global Market, Global Logistics & Distribution: Common Issues & Trends, Integrated Marketing Communications & Global Advertising, Internet and Global Marketing: Ecommerce on an International Scale, Biological and Biomedical Nike should strictly follow the rules such as minimum wage and child labour; it will make Nike a more socially responsible organisation. It's hard to find much fault with Nike's global marketing strategies because they do most everything well. But, to accomplish this was not that easy compared to how it sounds. Such factors therefore may require considerable adaptation of strategy of local market conditions. An organisation should be aware about the external environments in which it functions and should be very sensitive about its internal culture. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! {{courseNav.course.topics.length}} chapters | Pros? No plagiarism, guaranteed! What is the Difference Between Blended Learning & Distance Learning? The Future With These 7 Strategies, Amazon Will Dominate Any Market The unveiling of Amazon's future strategy can be explained in terms that even a third grader could understand. Some of Nike's emotional branding tactics have included advertisements with phrasing like, 'Anticipate greatness' or 'Your only limit is you.'. Did you know… We have over 220 college Get the unbiased info you need to find the right school. Already registered? References Nike's Strategy to Become the Leader in their Market. (Douglas and Wind, 1987). Meaningful story – They’re selling more than a product; they’re selling aspiration. Global marketing strategy is a way of selling a product or service to an international audience, while taking into account cultural and societal norms and preferences. For example, Nike has partnered with the English football club Manchester United to not only penetrate the European market but also reach consumers from all markets who are interested in soccer, known outside of the United States as 'football.' Expansion into foreign markets can be achieved via the following four mechanisms: Exporting; Licensing; Joint Venture; Direct Investment; Exporting. As one of the most soccer enthusiastic societies in the world, Brazil offers Nike an opportunity to enhance its profitability level, despite the competition from other interested corporations like Adidas. These ways can be a shade of company’s strength, potential and the level of interest in marketing. As Levitt (1983) said a global producer’s patronage expands exponentially, when he offers his low cost internationally. Kicking off the list at #1 is franchising. Our academic experts are ready and waiting to assist with any writing project you may have. Since Nike produces comfortable products whose goal is to aid athletes’ performance, the main target market for Nike is the active athletes market (Mahdi et al., 2015). Note, however, that there are restrictions for foreign ownership in some industries. Nike is established in 1972 by former university of Oregon star Phil Knight which is now one of the richest people in America. Nike's success in global marketing relies on their ability to reach many audiences with tailored messages. Wherever we go, not even a single soul did not know what a Toyota is. Keywords: emerging market, entry strategy, market entry, factors behind entry choice, entry mode, entry node, entry timing . Any strategy has to be clear and well-thought out, with partners chosen wisely. Moller et al. These financial figures are reflection of great success of Nike in global market as these are taken after assuming the price rise in U.S. and all the changes in the currency exchange rates have taken into consideration. It's typically not a leisure activity, either, as many of China's population bases are located in heavily polluted areas. The franchisees pay you a certain fee and sometimes a cut of the profits per year, then they keep the restThe good thing about franchising is that it’s one of the easier ways to break into new markets. Its swoosh symbol is easily recognized by everyone. To ensure its international expansion, Nike is likewise focused on sustainability. Growth therefore, has to come from auxiliary brands and increased international … Nike is one of the most successful companies on the globe, both from a sales standpoint and in their marketing initiatives. Exporting is main entry strategy in international arena which can be used direct or indirect mode. Nike is a global brand and has adapted and been the pioneers towards change in the market. The objective was to decrease waste in regards to cost of hiring labor and shipping, among others (Luo Sun, and Wang, 2011). So Nike should follow this strategy in future and try to remain dominant over its rivals through the marketing strategy. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Global Marketing Degree Program Overviews, Global Marketing Manager: Job Description & Career Info, Associate in Arts Degree (AA): Marketing Degree Overview, Entry-Level Jobs for a Marketing Major: Career Information, Comparing Finance and Marketing MBA Programs. Nike undertakes marketing, product design and overall system integration itself but outsourced the other units to be economical. Services. It's a strategy that works as well in Europe or Asia as it does in the United States. 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