Thursday, September 26, 2019

Strategic Marketing Assignment Example | Topics and Well Written Essays - 3000 words

Strategic Marketing - Assignment Example Nike’s strategy has always been to develop their brand with global perspective by creating a motivational consumer base for the company. Nike tries to influence the brand perception of the consumers and can sustain it by adding materialistic benefits in marketing strategy. In order to sustain in the competitive scenario, it is recommended to the company that enhancing their business into the motor sports segments will create a bigger market place for the Nike. Also they can develop their connection with the consumers if Nike endorses athletes who are close to their consumers or local athletes. Marketing concepts and strategies are evolving rapidly with the growing competition in the corporate sector. New forms of marketing such as viral marketing, guerilla marketing, etc. are now forming exclusive segments of the marketing process of the business houses. As defined by Beard (2008), strategic marketing helps the firms to align their business objectives with the market demands and creates consumer awareness. Grà ¶nroos (2010) added that the primary objective of a strategic marketing process is to help the business develop a long-term sustainable competitive advantage. Combining the above two definitions it can be observed that strategic marketing helps in developing a competitive advantage by allying the business objectives with market requirements. Nike is known to be one of the pioneers of the modern day marketing process. They have established themselves as one of the leading brands in the sportswear industry (Anderson and Narus, 2007). The strategic marketing concept o f Nike will be analysed in context to the role of services in marketing and factors that can be included to boost the marketing effectiveness of the company. The researcher will try to evaluate the gaps in the marketing strategy of Nike in terms of the service marking strategy and provide

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