MARKETING PLAN NIKE JORDAN BRAND Ky Donahoo
Contents
Executive Summary
Company Profile
Market Segmentation & Targeting
Situation and Company Analysis
Ethics and Social Responsibility
Marketing Information and Research
Customer Decision-Making Profile
Positioning and Differentiation
Branding
Marketing Mix (4Ps)
Product Strategy
Pricing Strategy
Place: Distribution Strategy
Promotion: Integrated Marketing Communications Strategy
Budget
Action Plan
Risk Factors
Attributions
Executive Summary
This report is to show Nike Jordan brands marketing plan, this will show the mission as well as what we are trying to achieve in the near future. We will describe the background of the company first and then move onto our distribution and customer acquisition, after that our advertising and risk factors.
Company Description
Nike Jordan brand has been an elite shoe and clothing company since 1985 produced by Nike, we create shoes for athletes of all types around the world. Our product is thoroughly tested to be the best performing as well as fashionable.
Target Segment
Our target audience is mainly males 11-55, we target athletes as well as inspiring athletes or those wanting to buy the same shoes as their favorite athlete.
Competitive Advantage
Our competitive advantage is that we signed one of the greatest basketball players of all time and created a shoe around him. With this shoe came a very loyal fan base that has stuck around since the beginning. Since the original shoe we have signed multiple athletes to our brand that are of an elite group that our customers want to be able to purchase the same shoe as them.
Positioning Statement
Nike Jordan brand offers a superior shoe and athletic wear for the most elite athletes and those inspiring to be just like them.
Marketing Plan Objectives
Jordan brand is trying to increase total sales by 30% over the next three quarters.
Company Profile
● Company Name: Nike Jordan Brand
● Industry: Apparel/Footwear
● Headquarters Beaverton, Oregon, USA
● Year founded: 1964
● The number of employees: 73,300 (2021)
● Annual revenue (estimated):4.7B
● Major products and/or services: Shoes
● Target customers: Males 11-55
● Distribution channel(s): Wholesalers, Direct-to-customer, e-commerce
● Key competitors: Adidas, Sketchers, New Balance
● Link to website: https://www.nike.com/jordan
● Link to Yahoo! Finance information page (for public companies): https://finance.yahoo.com/quote/NKE?p=NKE&.tsrc=fin-srch&guccounter=1&guce_referrer=aHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS8_Z3VjY291bnRlcj0x&guce_referrer_sig=AQAAABsyZKoO5XMkC0b0L6y-ov0p1PCMNatC2dYyz00QnOnVvqJulZwtoR7UVynD0VFzFLt2EgZlTqj9ngQgsLZKj49-CpfzHvnHw1TKSzy_6NiKP32HD-62SVrQORgzfFOi2POlj-Sq5VlC1lVJIloqVSLm1FwgYVfgjYvDq2v4xYvO
Market Segmentation & Targeting
● Jordan Brand shoes give you a stylish shoe that helps athletes give their full potential
● The potential customers are anyone who wants a stylish athletic shoe but specifically males 11-55
Situation and Company Analysis
Economic Environment
Factors that affect our customers are economic crisis such as a recession, our product is a must buy item it is for athletes and customers who are loyal to the brand. Since our item is a need, during a recession when people are saving more than they are spending they might make their current sportswear last longer and not keep buying.
Technical Environment
Technical environment changes that can affect us is our apps, if they are failing or not tracking trends of what people are looking to buy then we can lose out on potential business.
Industry Environment
Trends that affect our industry is when either Jordan Brand or a competitor signs a new big name athlete, if a competitor signs the athlete then they will take the sales that could have been ours if we could make a deal. Also the changing fashion market can change what customers are buying all of the time.
Competitive Environment
We have around 5 close competitors, our closest competitor is Adidas. The advantage that we have is we created a premium basketball shoe long before and have proven how great our product is with the professional athletes who we sign. The market is very large and we have a value of over $20Billon over our closest competitor.
Political Environment
We have a stable political environment, as we produce our product overseas our only issues is shipping and receiving the products here in the US. We follow all state and federal laws.
SWOT Analysis
HELPFUL Ideas
HARMFUL Concerns
Internal
Strengths
● We have a known organization around the world with a strong following.
● We have unique shoes that are developed with professional athletes help and create signature shoes for retail that the professionals will wear.
● They are specifically created to the professionals needs and no other company can recreate.
● The customers receive a high quality product that is built to withstand the toughest conditions.
Weaknesses
● Once an athletes contract is up they do not have to resign with us.
● Competitors can sign top tier athletes.
● Supply chain issues can lead to shortages.
External
Opportunities
● There are more sports that we can enter the market and start creating athletic wear.
● Competitors could collab with certain athletes that don’t want to sign exclusively.
● Signing new athletes each year as they come into the pros.
Threats
● Laws with creating products overseas.
● Countries creating tariffs.
● Competitors taking athletes once our contracts are up.
● Price increases in material.
● New competitors emerging.
Mission, Objectives & Goals
Our mission is to make a shoe that are made to hold up to the toughest conditions as an athlete and help them be the best that they can.
· Test products with athletes all over the world.
· To be the number 1 athletic shoe maker for all athletes.
· To sign the best sports professionals to wear our products.
Increase sales by 30% over the next year.
Have the company valued higher than any competitor
Sign 20% more professional athletes than previous year.
Ethics and Social Responsibility
Current Status
Nike promotes their products using a very diverse group of people to display their products, Nike has many athletes from all different regions over the world. The company pushes for equal rights for all and is very involved in communities.
Recommendations
I think continuing to hire more diverse and different sexes for higher management jobs will benefit the company, they will get a different perspective and be able to interpret that into their products.
Marketing Information and Research
Research Question
A goal of Nikes is to make their products out of a more sustainable product, I would ask what will the change in material be that will help the world be a better place and will it come with any disruptions to the high standards that athletes rely on.
Information Needed
They will need to do research on what will make the biggest positive impact to the world, they will also need to do lots of testing with athletes to see if the shoes will hold up to the high performance of a professional athlete.
Research Recommendations
It will take researching the different materials and how they are processed into shoes. Shoes can be made of recycled plastics and they will need to figure a way to turn the plastic into a shoe an environmentally friendly way. Once Nike gets the products they will need to do extreme testing in all types of environment to see how well the product holds up to what they have now. They will need to interview the athletes who try the shoe to see if its to their standards as well as have lab tests to back up the data.
Customer Decision-Making Profile
Identifying the Customer and Problem
The customer that the Nike Jordan brand target is mainly a male 11-55 years of age, They will be loyal to the brand and will buy the item just because its Nike. The products solve their problem by selling a collectable shoe as well as a stylish product that is made for athletes.
Factors Influencing Customer Decisions
● Nike Targets high income groups as well as urban areas and international sales.
● People who buy Nikes are very loyal to the brand and it becomes a part of their lifestyle. They will make purchases just because of the brand on the product.
● Nike targets mostly male form 11-55 they also target women and kids, from all over the world as well as all different ethnicities
Reaching the Customer
I think promoting more diverse athletes as well as young kids to get them interested in the products. Seeing kids and athletes wearing the shoes will make others want to buy.
Making a more environmentally friendly shoe that helps clean up the oceans would make more people want to buy the product knowing its doing good for the world.
Signing more big name athletes will make more of their fans interested in buying their signature shoes.
Positioning and Differentiation
Nike is known for being the best and being innovative. Nike created a better product and became a house hold name as well as the number one shoe for athletes to help them be the best that they can.
Competitive Advantages
The things that make Nike different Is the endorsements it has that make everyone want to buy them as well as making the best product available. Nike created a running shoe to start the company and was a huge success since then they have created an empire that everyone knows of.
Market Niche and Positioning Strategy
Nike has created a highly innovative shoe that helps the athletes as well as inspiring athletes preform at their best.
Positioning Statement
To athletes, Nike Jordan shoe is the only shoe that will help you be the best athlete that you can be because it is a tried and true shoe by professional athletes around the world.
Repositioning Considerations
I do not think they need to change their positioning, I believe in what the brand is doing and they are always improving to be a better brand for their customers.
Branding
Brand Description
The brand being built is to be the best shoe that holds up to the toughness of professional athletes. People experience this by being able to buy the same shoes as the athletes.
Brand Promise
The brand promise is it “Bring inspiration and innovation to every athlete” I think this is a great promise because it inspires any one that they too can be an athlete.
Brand Voice and Personality
Describe your brand voice and personality using the is/is never template:
● [Brand] is: Inspiring
● [Brand] is never: Degrading
Brand Positioning and Strategy
I think that making a push to a more diverse target audience will help grow the brand even larger. Also targeting more than just athletes, all types of people can benefit from Nike.
Marketing Mix (4Ps)
Product Strategy
Our product is high quality shoes and sportswear for all types of athletes. Our products are researched to be the most practical and highest performing items to help athletes to be at their best, even inspiring athletes can purchase the exact models.
Pricing Strategy
Our product is priced at a fair offering for the quality material you receive when you buy from the Jordan Brand, our price is very competitive with other products that are similar. Our customers are loyal to our brand and with inflation our prices have slightly raised and they are still being loyal to us.
Place: Distribution Strategy
Our current distribution strategy is selling to wholesalers as well as direct to consumer. This will work best for the amount of products we sell yearly as well as with the margins we have. Retail outlets will be all over the world mostly in metropolitan areas. Our product will be sold in all geographic areas around the world.
Promotion: Integrated Marketing Communications Strategy
Approach
Some engagement strategies we will use is to sign as many big name athletes to wear our products that way they can prove the type of product they are getting, as well as being able to buy the same shoes as your favorite star. We will also make commercials that are inspirational to show anyone can be an athlete it might just take the right shoes to help get you there.
Goal
Our goal is to Increase the sales over next three quarters by 30% over the same quarters last year
Promotional Mix and IMC Tools
We will be using digital marketing by placing ads on all social media platforms, as well as television commercials.
We will be having limited raffles for a chance to get a pair of limited edition shoes that will have only a limited amount of pairs.
We will send out emails to previous customers as well as members for special releases and any sales happening.
Sales Alignment
The campaign operates at generating leads, they have successful ads and marketing to generate more leads.
Measurement (KPIs - Key Performance Indicators)
To measure the campaign we will watch total sales year after year to see an increase. We will be watching the rate of new and returning customers to see if we are reaching more than our loyal base. The engagement and followers on social media will also be watched to make sure we are reaching as many people as possible.
Budget
Item
Purpose
Cost Estimate
Example: White paper authored by technical writer
Layout the business case why recruiting managers needan easier tool for vetting resumes and reference checking in the technology industry
$500.00
Item #1 Social media posts
To reach customers all over the world on social media.
5,000,000
Item #2 Commercials
To show our products during tv breaks
500,000,000
Estimated campaign impact: I estimate this will help with $5B in sales.
Action Plan
Timing
Activity Type
Brief Description
Audience
Owner
Today’s Date
Example:
Website Update
Add new key messages that fit repositioning strategy and audience focus
Tech company hiring managers
Jim Hill
Date 5-15-22
Sign new athlete
Sign new athlete to Jordan brand to represent shoes
Marketing
Date 5-15-22
Create new shoe
Create new athlete signature shoe
Design
Risk Factors
Most risks can be reversed with making the products more attractive to the loyal base that has got the Jordan brand where they are today. Supply chain issues can cause a halt to the production so having a backup distributor is necessary in case of such situation.
Attributions
CC LICENSED CONTENT, SHARED PREVIOUSLY
Flinders Business School Marketing Plan Template. Authored by David Medlow-Smith. Located at: https://archive.org/details/FlindersBusinessSchoolMarketingPlan2. License: CC BY-SA.
ORIGINAL CONTENT
SWOT and Integrated Marketing Communications Templates. Authored by Melissa Barker. License: CC BY:Attribution.
Revision and adaptation. Authored by Lumen Learning. License: CC BY-SA.
Revision and adaptation. Authored by Waymon D. “Wade” Hyde, faculty, El Centro College/Dallas County Community College District. License: CC BY-SA.