Unit 3: Introduction to Marketing
In this assignment, I will describe how the two different organisations use marketing techniques for their products. I will explain the techniques of marketing. The organisations that I will be focusing on are Nike and Kellogg.
Marketing is the process of promoting and selling products or services including market research and advertisement. Under marketing, there are two strategies that can help an organisation in being successful when selling products which are growth strategies and survival strategies.
In the year 1957, Igor Ansoff developed on of the best know descriptions for growing a ...view middle of the document...
Without branding, it is difficult to achieve marketing objectives and the customers. Branding help in the fast performance of product being sold.
2. Relationship marketing: This is when market activities are aimed at developing, managing trusting and long term relationships with larger customers.
Nike, Inc. formerly known as Blue Ribbon Sports is an American multinational corporation that is engaged in the design, development, manufacturing and worldwide marketing and sales of footwear, apparel, equipment, accessories and services. Every month, Nike release new set of shoes to the market to change the taste of the customers. Different franchise such as Air Jordan, Nike Pro, Nike golf and others has dominated the market in sales and demand.
Branding is one of the most important aspects that creates and defines a company’s identity. By building up a brand, the company must consider steps to create value, brand visibility, and make their product desirable. A brand should involve a lifestyle, give consumers something to identify with, and give the product a meaning.
Take it from Nike, who's success and dominance in the world of sports has increased on their ability to construct their brand image, visibility, and giving the company logo extremely high value.
Nike has one of the most recognisable logos in the world which has made them of the best highly valued and most successful brand today. They also have different logos for the product especially Air Jordan. Air Jordan has been dominating the sales and demand of Nike. This is because it is partly owned by the former basketball player Michael Jordan. Nike has been endorsing celebrity endorsers such as Michael Jordan and James LeBron to represent their brand. This is because it makes their products more popular and valuable.
This is when existing products are being sold to a new market. Nike use to sell Air Jordan shoes to only basketball players but they have begun to sell those shoes to the public which makes it a new market. Also, they have begun to sell their products in Africa and other Asian countries. Since their products were being sold to only celebrities, it adds more value and popularity to the product. According to Nike website, the business is now operating in 160 countries and they are selling their existing product. As a business in a competitive world, one of their aims is to expand their business to improve its popularity and revenue. Last year, Western Europe boosted Nike’s revenue by 19% and china also increased it by 7% in the third quarter of 2014.
Every month, Nike releases new set of shoes, other product with new designs...