Nike Air Jordan Shoes Part 1 - What is Strategic Marketing? ✓ Solved
Part 1 - What is Strategic Marketing?
1. Creating Value for Customers: The Nike Air Jordan brand is iconic and carries significant cultural value, resonating deeply with basketball enthusiasts and fashion-forward consumers. Nike creates value for customers by developing innovative footwear that enhances athletic performance while also focusing on design aesthetics that appeal to consumers' lifestyle needs. The integration of advanced technology in shoe design, like cushioning and support features, elevates customer experience. Furthermore, the emotional connection established through endorsements by top athletes and strategic branding efforts helps reinforce customer loyalty (Kotler & Keller, 2016).
2. Role of the Customer in the Company's Strategic Plan: Nike's mission statement—"To bring inspiration and innovation to every athlete in the world"—reflects a strong commitment to its customers by prioritizing their needs. This customer focus is further supported by value statements that highlight community and athlete engagement through product feedback and lifestyle integration. While the mission is effective, it could emphasize customer co-creation more explicitly. Inclusion of customer-centric language could enhance the mission's effectiveness by focusing on how Nike actively seeks and values customer input in product development (Nike, 2023).
3. SWOT analysis: The following SWOT analysis identifies key elements:
| Strength | Weakness | Opportunity | Threat |
|---|---|---|---|
| Strong Brand Recognition | High Price Point | Expansion into Emerging Markets | Intense Competition |
The implications of each element are as follows: A strong brand name (strength) allows Nike to venture into related products, while its high pricing (weakness) may limit accessibility for certain consumers. Opportunities in emerging markets could drive growth, yet the threat of intense competition requires constant innovation (Porter, 1985).
4. Competitive Analysis: Two major competitors for Nike Air Jordans are Adidas and Puma. The criteria that customers consider when making purchasing decisions include price, product features (like design and technology), and brand loyalty. The following chart illustrates the analysis based on these criteria:
| Criteria | Nike | Adidas | Puma |
|---|---|---|---|
| Price | 4 | 3 | 3 |
| Product Features | 5 | 4 | 3 |
| Brand Loyalty | 5 | 4 | 2 |
The total scores indicate Nike ranks highest overall, showcasing its dominance as a market leader. Notably, the scoring reveals that while Nike excels in product features and brand loyalty, Adidas competes closely on price and features, positioning itself as a significant challenger in the market (Baker, 2018).
Part 2 - Customer Satisfaction, Loyalty, Management and Empowerment
1. Customer Empowerment: Nike empowers its customers primarily through social media platforms where individuals can voice opinions and share experiences. This feedback is often translated into marketing campaigns, allowing customers to feel part of the process. However, to generate more buzz marketing, Nike could enhance its social media engagement through interactive campaigns or user-generated content (Thompson, 2020).
2. Customer Satisfaction: Nike provides multiple channels for customer feedback, including social media, customer service lines, and in-store interactions. Remedies for dissatisfaction include exchange policies, quality guarantees, and customer service support aimed at resolving complaints promptly (Smith, 2019).
3. Customer Relationship Management (CRM): Nike appears to operate with an effective CRM strategy, differentiating its Most Valuable Customers (MVCs) from general customers through targeted promotional offers, exclusive access to new releases, and specialized communication. This strategy is evident in the ways Nike nurtures relationships, ensuring high-value customers feel appreciated (Peppers & Rogers, 2016).
4. Customer Privacy: Nike's privacy policy outlines how customer information is protected, including data encryption and adherence to privacy regulations. However, they could enhance transparency about data usage and include remedies in the event of a breach, reassuring customers about their data's safety (Johnson, 2021).
Paper For Above Instructions
This paper explores the strategic marketing principles applied to Nike Air Jordan shoes through various lenses, including value creation, customer role in business strategy, SWOT analysis, competitive analysis, and customer management strategies. Such an exploration reflects not only the brand's marketing effectiveness but also its alignment with contemporary consumer expectations.
References
- Baker, M. J. (2018). Marketing Strategy and Management. London: Palgrave.
- Johnson, R. (2021). Understanding Privacy Policies. Journal of Data Protection, 5(2), 145-160.
- Kotler, P., & Keller, K. L. (2016). Marketing Management. Pearson.
- Nike. (2023). Corporate mission. Retrieved from [Nike website]
- Peppers, D., & Rogers, M. (2016). Managing Customer Experience and Relationships. Wiley.
- Porter, M. E. (1985). Competitive Advantage. Free Press.
- Smith, A. (2019). Customer Satisfaction Strategies in Retail. Retail Management Journal, 8(1), 45-59.
- Thompson, G. (2020). The Role of Social Media in Brand Empowerment. Marketing Journal, 12(3), 89-104.
- Wright, R. (2022). The Psychology of Brand Loyalty. Psychology and Marketing, 39(4), 112-125.
- Young, L. (2020). Building Customer Relationships in the Digital Age. Digital Business Review, 4(2), 23-35.