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Integrated Marketing Communication Plan of Nike Inc. By: Kavan Mankodi (J024) Rishi Rungta (J034) Ayush Shah (J035) Manav Sheth (J038) Abishek Kumar (J043)
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
Contents 1. INDUSTRY ANALYSIS................................................................................3 1.1 MARKET OVERVIEW............................................................................3 1.2 MARKET SIZE......................................................................................3 1.3 CURRENT TRENDS AFFECTING PROMOTION PROGRAM......................3 1.4 MACROENVIRONMENT FACTORS & ISSUES.........................................4 2. COMPANY OVERVIEW...............................................................................7 2.1 ABOUT NIKE........................................................................................7
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
1. INDUSTRY ANALYSIS 1.1 MARKET OVERVIEW Over the past five years the Athlete and sporting goods manufacturing industry has shown slow growth according to the modest growth in the sports participation rate. The demand for sporting goods is increasing over the period. In the next five years ie. By the year 2020, it is expected that consumers will become more health conscious, which will increase the demand for Athlete and Sporting goods. This industry is highly fragmented and characterized by the high level of competition. Nike incorporation is the worlds leading sports footwear and Apparel Company. The Nike brand is mostly targeted towards the athletes, selling related products such as shoes, sporting equipment’s and clothes. While the top players in this industry are expected to comprise less than 20.0% of total industry revenue in 2015; one of the top player is Nike which uses strong brand awareness among consumers to gain market share. Also few sporting goods manufacturers have vertically integrated operations, which includes the marketing, manufacturing, deg and retailing processes in their operations. Nike is using the vertical operations to examine the consumer trends and to implement new technologies.
1.2 MARKET SIZE In today’s world, market of sport goods is increasing and this market is highly growing in U.S. as compared to other countries and it has been projected more than 63 billion in U.S in 2014. Consumers purchase different products such as athletic footwear, licensed sports merchandise, athletic apparel, exercise equipment but they are not included in recreational transportation. Many of the products such as sporting goods are sold through online channels over the internet and have highest growth in market share of distribution channels. Despite of having online channels people more over prefer to shop in stores for sport goods. Worldwide, Nike and Adidas have greatest revenue and are market leaders in sporting goods industry and manufacturing with revenues 27.8bn and 20bn U.S dollars respectively.
1.3 CURRENT TRENDS AFFECTING PROMOTION PROGRAM
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
1.4 MACROENVIRONMENT FACTORS & ISSUES
In this section of the report, we will take Nike which is considered one of the biggest sporting goods and equipment companies as a representative to the industry, and will analyze the PESTEL factors for the company products. 1. P is for Political Political factors are especially important to the backend of a company — the part we don’t normally see. Most of today’s political changes only affect how a company can produce their goods or how much profit they make. Political factors decide the survivability of an organization. For Nike, some of these are:
The United States, Nike’s ‘home country’ so to speak, has fantastic policies for growth which are especially valuable to this corporation. These include low-interest rates and well arranged international tax agreements.
As a company that produces and sells physical goods, Nike is, however, always subject to changes in tax and manufacturing laws.
Various political conflicts can always make customs related processes difficult, or prevent imports and exports.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
2. E is for Economic Nike sells a well-respected medium range product, so they are less vulnerable to economic factors than others, but nevertheless here are some of the Economic variables:
A market collapse could mean bad news for Nike, along with many other big brands. Consumers may choose to switch to lower-end, cheaper products if this were to occur, or even just as a decent level of quality becomes easier to produce.
Nike’s revenues are to some extent dependent on the low cost of labour in Far Eastern countries. This is changing, though, which might mean higher Nike prices across the globe come with the development in Less Economically Developed Countries.
With its ‘deep pocket’ of finances, Nike has the resources to chase after small emerging markets in which they could sell products.
3. S is for Social Public Relations has never been more relevant than today. A good social status means a lot for modern corporations, so it’s definitely worth considering these factors:
Worldwide increases in ‘health consciousness’ means that more and more individuals are moving towards better lifestyles. These people will undoubtedly buy plenty of sports apparel, something which would make Nike very happy.
On the other hand, Nike receives much criticism for its dubious production processes. In fact, the issue of Nike sweatshops is so prominent that it has warranted an entire Wikipedia article on the topic.
4. T is for Technological Technology gives companies the ability to innovate in so many different ways. From interacting with customers to deg products, technology provides value to organizations just like Nike. Here are some of the Technological factors affecting it:
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
Social media allows things to blow up or whittle away faster than ever. Nike is doing well with using social media to build their brand, but it can be a double-edged sword if used incorrectly.
Nike also gets the opportunity to use valuable information based metrics thanks to technological advances, allowing for them to optimize targeting and production, and maximize revenue.
5. L is for Legal Legal factors are sometimes grouped together with Political factors in ‘PEST’ analyses, but in a PESTLE analysis — which is what we’re doing — the two are separated. There aren’t many legal variables which affect Nike, but we haven’t forgotten about the elephant in the room:
It shouldn’t surprise you to hear that, like most massive corporations, Nike also dodges substantial amounts of tax. In recent years, there hasn’t been too much of a crackdown on this, but it’s still valuable to consider.
Also, Nike occasionally meets legal repercussions for its shady marketing practices, which include false discounts.
6. E is for Environmental Environmental issues are of ever-growing importance. Of course, there are only a few factors which affect Nike with regard to this, but they are worth stating:
Nike’s mass production factories are, without a doubt, harming the environment. Not only do they release plenty of aerial pollution like most factories, but Nike’s production centers occasionally go as far as directly polluting rivers.
However, Nike also shows promise of a change in their current practices, with a strong resolve to become more ‘eco’.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
2. COMPANY OVERVIEW 2.1 ABOUT NIKE
NIKE, Inc. is all about innovations and discovery by providing the products and experiences for athletes. Nike was founded by University of Oregon track athlete Phil Knight and his coach Bill Bowerman in January 1964. Its original name was Blue Ribbon Sports (BRS). The company initially operated as a distributor for Japanese shoemaker Onitsuka Tiger, which meet Knight's automobile. (Nike Inc., 2016) In 1964, BRS sold 1,300 sets of Japanese running shoes netting $8,000. After that in 1966, BRS opened its first retail location at California. By the time after the first retail store, it got expanded in different regions as in the East Coast, in Wellesley. After that in 1971, the relationship of BRS and Onitsuka Tiger was coming to end and BRS made its own line of footwear, which included the Swoosh planned by Carolyn Davidson. So the Swoosh was utilized by Nike in 1971 and then was ed with the U.S. Patent and Trademark Office in 1974. Afterwards Nike had made itself as a leading brand in U.S. athletic market and covered half of its market share. Also Nike with the association with Wieden Kennedy made various marketing communication ways to reach the customer and to make them aware about products. By 1980s, it made association of games with its products offerings to its target market.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
NIKE IMC Plan
Various tools of IMC like advertising, direct marketing, sales promotion, personal selling and public relation make brand promotion schematic. Effective integration of such tools makes consumer engagement efficient.
Nike has made extensive use of integrated marketing communications, a brand associated with with athletic activities and sport. Commencement of Nike’s success was with its “Just do it” campaign. With this campaign, Nike tapped into the spirit of the inner joy experience of consumers. The profound feeling of joy and fitness was communicated through this campaign. The company utilized various communication platforms for their ment in order to capture attention of their target consumer segment, increasing Nike’s sale by 1000% over a period of ten years.
Logo story Nike Swoosh is one of the well-known logos. The logo has made the organisation one of the most successful and valued brands worldwide as it has created a strong brand image which symbolizes performance, dominance and winning. Nike has been INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
successful in spreading their brand message across the globe that has made them gain sustainable competitive advantage over their competitors like Adidas and Reebok.
Objectives of the plan “To bring inspiration and innovation to every athlete in the world.” This statement was inspired by, a highly esteemed track and field coach and co-founder of Nike Inc. This motto is the company’s foremost mission, but strategically integrated with this goal are a number of IMC objectives that assist the organization towards effective integrated marketing communication. One such IMC objective is to employ a range of marketing communication tactics that would cater to the organization’s target market, who have different nationalities, genders, cultures, and ages. To enact this, Nike introduces its latest products through a marketing communication group that could strengthen the “positioning of, and key messages about, the Nike brand,” through different forms of visual aids and point-of- purchase advertising. Another IMC goal of Nike is related to the company’s quality and innovative products. Nike first develops its goods and services that would eventually cater to the needs and demands of people all over the world. As a result, its market share would increase, and more revenue would be generated for the organization. Evidently, this goal has been almost fully realized, since Nike has branches in different parts of the world, such as in Europe, Asia, and the like. In connection to this, Nike continuously aims to apply marketing tactics that are appropriate with the people who reside in these continents or nations. For example, aside from traditional advertising in the form of television, billboards, and the like, Nike also makes use of contemporary marketing instruments such as the internet, wherein people in almost any part of the world could access various sites to customize Nike shoes and products.
IMC Strategies
Celebrity endorsements
This is one of the key strategies that Nike has adopted. They have been very careful while selecting the face of the brand. The idea is to ingrain the celebrity image in consumer’s mind which would help them associate INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
with the brand product with famous personalities making the brand valuable and attractive. Famous athletes like Michael Jordan, Maria Sharapova, Cristiano Ronaldo and Tiger Woods have endorsed the brand and conveyed the importance of athleticism making the brand name heroic and iconic. Such celebrity ments create strong impact on consumers and further improves brand loyalty.
Social media Nike has set up a perfect example of efficient use of social media which has become an essence of brand promotion in today’s competitive world. Utilization of social media like Facebook, YouTube, twitter and many more in order to build public relation and to deal with criticisms has been aced by Nike. Evidence suggests that approximately 92% of consumers trust recommendations made by family and friends over ments, or ‘Word of Mouth’. Consistent efforts towards customer engagement and persuasion through application like Nike+ and even considering @Nike where Nike responds to their followers on twitter has made Nike the best example of organised customer service. Such efforts has given Nike a huge fan following and loyal customer base, helping them to build company’s “word of mouth marketing”.
Campaign
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
“Write the future”, a campaign during FIFA 2010 is a very good example of Nike’s skillful utilization of strategy. The prime goal was to become the top brand in the world of football beating Adidas as the official sponsor of FIFA 2010 and to achieve tremendous revenue growth in the football apparel segment. The gist of the campaign was to ignite communication with the epic 3-minute film which would inspire audience with flashes of success and failure, past and future. Some of the best players like Cristiano Ronaldo, Wayne Rooney, Didier Drogba and many others were featured in the film. Nike wanted to create an opportunity for their consumers so that they could participate in the experience via social media. Nike employed social media platforms like Facebook, YouTube and Xbox 360 to reach to their fans. During this campaign, the Nike Facebook fan following raised to 336% which was from 1.1m to 4.8m. The result was, Nike won the world cup and became world no.1 sports brand in the football field.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
Contents 1. INDUSTRY ANALYSIS................................................................................3 1.1 MARKET OVERVIEW............................................................................3 1.2 MARKET SIZE......................................................................................3 1.3 CURRENT TRENDS AFFECTING PROMOTION PROGRAM......................3 1.4 MACROENVIRONMENT FACTORS & ISSUES.........................................4 2. COMPANY OVERVIEW...............................................................................7 2.1 ABOUT NIKE........................................................................................7
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
1. INDUSTRY ANALYSIS 1.1 MARKET OVERVIEW Over the past five years the Athlete and sporting goods manufacturing industry has shown slow growth according to the modest growth in the sports participation rate. The demand for sporting goods is increasing over the period. In the next five years ie. By the year 2020, it is expected that consumers will become more health conscious, which will increase the demand for Athlete and Sporting goods. This industry is highly fragmented and characterized by the high level of competition. Nike incorporation is the worlds leading sports footwear and Apparel Company. The Nike brand is mostly targeted towards the athletes, selling related products such as shoes, sporting equipment’s and clothes. While the top players in this industry are expected to comprise less than 20.0% of total industry revenue in 2015; one of the top player is Nike which uses strong brand awareness among consumers to gain market share. Also few sporting goods manufacturers have vertically integrated operations, which includes the marketing, manufacturing, deg and retailing processes in their operations. Nike is using the vertical operations to examine the consumer trends and to implement new technologies.
1.2 MARKET SIZE In today’s world, market of sport goods is increasing and this market is highly growing in U.S. as compared to other countries and it has been projected more than 63 billion in U.S in 2014. Consumers purchase different products such as athletic footwear, licensed sports merchandise, athletic apparel, exercise equipment but they are not included in recreational transportation. Many of the products such as sporting goods are sold through online channels over the internet and have highest growth in market share of distribution channels. Despite of having online channels people more over prefer to shop in stores for sport goods. Worldwide, Nike and Adidas have greatest revenue and are market leaders in sporting goods industry and manufacturing with revenues 27.8bn and 20bn U.S dollars respectively.
1.3 CURRENT TRENDS AFFECTING PROMOTION PROGRAM
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
1.4 MACROENVIRONMENT FACTORS & ISSUES
In this section of the report, we will take Nike which is considered one of the biggest sporting goods and equipment companies as a representative to the industry, and will analyze the PESTEL factors for the company products. 1. P is for Political Political factors are especially important to the backend of a company — the part we don’t normally see. Most of today’s political changes only affect how a company can produce their goods or how much profit they make. Political factors decide the survivability of an organization. For Nike, some of these are:
The United States, Nike’s ‘home country’ so to speak, has fantastic policies for growth which are especially valuable to this corporation. These include low-interest rates and well arranged international tax agreements.
As a company that produces and sells physical goods, Nike is, however, always subject to changes in tax and manufacturing laws.
Various political conflicts can always make customs related processes difficult, or prevent imports and exports.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
2. E is for Economic Nike sells a well-respected medium range product, so they are less vulnerable to economic factors than others, but nevertheless here are some of the Economic variables:
A market collapse could mean bad news for Nike, along with many other big brands. Consumers may choose to switch to lower-end, cheaper products if this were to occur, or even just as a decent level of quality becomes easier to produce.
Nike’s revenues are to some extent dependent on the low cost of labour in Far Eastern countries. This is changing, though, which might mean higher Nike prices across the globe come with the development in Less Economically Developed Countries.
With its ‘deep pocket’ of finances, Nike has the resources to chase after small emerging markets in which they could sell products.
3. S is for Social Public Relations has never been more relevant than today. A good social status means a lot for modern corporations, so it’s definitely worth considering these factors:
Worldwide increases in ‘health consciousness’ means that more and more individuals are moving towards better lifestyles. These people will undoubtedly buy plenty of sports apparel, something which would make Nike very happy.
On the other hand, Nike receives much criticism for its dubious production processes. In fact, the issue of Nike sweatshops is so prominent that it has warranted an entire Wikipedia article on the topic.
4. T is for Technological Technology gives companies the ability to innovate in so many different ways. From interacting with customers to deg products, technology provides value to organizations just like Nike. Here are some of the Technological factors affecting it:
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
Social media allows things to blow up or whittle away faster than ever. Nike is doing well with using social media to build their brand, but it can be a double-edged sword if used incorrectly.
Nike also gets the opportunity to use valuable information based metrics thanks to technological advances, allowing for them to optimize targeting and production, and maximize revenue.
5. L is for Legal Legal factors are sometimes grouped together with Political factors in ‘PEST’ analyses, but in a PESTLE analysis — which is what we’re doing — the two are separated. There aren’t many legal variables which affect Nike, but we haven’t forgotten about the elephant in the room:
It shouldn’t surprise you to hear that, like most massive corporations, Nike also dodges substantial amounts of tax. In recent years, there hasn’t been too much of a crackdown on this, but it’s still valuable to consider.
Also, Nike occasionally meets legal repercussions for its shady marketing practices, which include false discounts.
6. E is for Environmental Environmental issues are of ever-growing importance. Of course, there are only a few factors which affect Nike with regard to this, but they are worth stating:
Nike’s mass production factories are, without a doubt, harming the environment. Not only do they release plenty of aerial pollution like most factories, but Nike’s production centers occasionally go as far as directly polluting rivers.
However, Nike also shows promise of a change in their current practices, with a strong resolve to become more ‘eco’.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
2. COMPANY OVERVIEW 2.1 ABOUT NIKE
NIKE, Inc. is all about innovations and discovery by providing the products and experiences for athletes. Nike was founded by University of Oregon track athlete Phil Knight and his coach Bill Bowerman in January 1964. Its original name was Blue Ribbon Sports (BRS). The company initially operated as a distributor for Japanese shoemaker Onitsuka Tiger, which meet Knight's automobile. (Nike Inc., 2016) In 1964, BRS sold 1,300 sets of Japanese running shoes netting $8,000. After that in 1966, BRS opened its first retail location at California. By the time after the first retail store, it got expanded in different regions as in the East Coast, in Wellesley. After that in 1971, the relationship of BRS and Onitsuka Tiger was coming to end and BRS made its own line of footwear, which included the Swoosh planned by Carolyn Davidson. So the Swoosh was utilized by Nike in 1971 and then was ed with the U.S. Patent and Trademark Office in 1974. Afterwards Nike had made itself as a leading brand in U.S. athletic market and covered half of its market share. Also Nike with the association with Wieden Kennedy made various marketing communication ways to reach the customer and to make them aware about products. By 1980s, it made association of games with its products offerings to its target market.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
NIKE IMC Plan
Various tools of IMC like advertising, direct marketing, sales promotion, personal selling and public relation make brand promotion schematic. Effective integration of such tools makes consumer engagement efficient.
Nike has made extensive use of integrated marketing communications, a brand associated with with athletic activities and sport. Commencement of Nike’s success was with its “Just do it” campaign. With this campaign, Nike tapped into the spirit of the inner joy experience of consumers. The profound feeling of joy and fitness was communicated through this campaign. The company utilized various communication platforms for their ment in order to capture attention of their target consumer segment, increasing Nike’s sale by 1000% over a period of ten years.
Logo story Nike Swoosh is one of the well-known logos. The logo has made the organisation one of the most successful and valued brands worldwide as it has created a strong brand image which symbolizes performance, dominance and winning. Nike has been INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
successful in spreading their brand message across the globe that has made them gain sustainable competitive advantage over their competitors like Adidas and Reebok.
Objectives of the plan “To bring inspiration and innovation to every athlete in the world.” This statement was inspired by, a highly esteemed track and field coach and co-founder of Nike Inc. This motto is the company’s foremost mission, but strategically integrated with this goal are a number of IMC objectives that assist the organization towards effective integrated marketing communication. One such IMC objective is to employ a range of marketing communication tactics that would cater to the organization’s target market, who have different nationalities, genders, cultures, and ages. To enact this, Nike introduces its latest products through a marketing communication group that could strengthen the “positioning of, and key messages about, the Nike brand,” through different forms of visual aids and point-of- purchase advertising. Another IMC goal of Nike is related to the company’s quality and innovative products. Nike first develops its goods and services that would eventually cater to the needs and demands of people all over the world. As a result, its market share would increase, and more revenue would be generated for the organization. Evidently, this goal has been almost fully realized, since Nike has branches in different parts of the world, such as in Europe, Asia, and the like. In connection to this, Nike continuously aims to apply marketing tactics that are appropriate with the people who reside in these continents or nations. For example, aside from traditional advertising in the form of television, billboards, and the like, Nike also makes use of contemporary marketing instruments such as the internet, wherein people in almost any part of the world could access various sites to customize Nike shoes and products.
IMC Strategies
Celebrity endorsements
This is one of the key strategies that Nike has adopted. They have been very careful while selecting the face of the brand. The idea is to ingrain the celebrity image in consumer’s mind which would help them associate INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
with the brand product with famous personalities making the brand valuable and attractive. Famous athletes like Michael Jordan, Maria Sharapova, Cristiano Ronaldo and Tiger Woods have endorsed the brand and conveyed the importance of athleticism making the brand name heroic and iconic. Such celebrity ments create strong impact on consumers and further improves brand loyalty.
Social media Nike has set up a perfect example of efficient use of social media which has become an essence of brand promotion in today’s competitive world. Utilization of social media like Facebook, YouTube, twitter and many more in order to build public relation and to deal with criticisms has been aced by Nike. Evidence suggests that approximately 92% of consumers trust recommendations made by family and friends over ments, or ‘Word of Mouth’. Consistent efforts towards customer engagement and persuasion through application like Nike+ and even considering @Nike where Nike responds to their followers on twitter has made Nike the best example of organised customer service. Such efforts has given Nike a huge fan following and loyal customer base, helping them to build company’s “word of mouth marketing”.
Campaign
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
“Write the future”, a campaign during FIFA 2010 is a very good example of Nike’s skillful utilization of strategy. The prime goal was to become the top brand in the world of football beating Adidas as the official sponsor of FIFA 2010 and to achieve tremendous revenue growth in the football apparel segment. The gist of the campaign was to ignite communication with the epic 3-minute film which would inspire audience with flashes of success and failure, past and future. Some of the best players like Cristiano Ronaldo, Wayne Rooney, Didier Drogba and many others were featured in the film. Nike wanted to create an opportunity for their consumers so that they could participate in the experience via social media. Nike employed social media platforms like Facebook, YouTube and Xbox 360 to reach to their fans. During this campaign, the Nike Facebook fan following raised to 336% which was from 1.1m to 4.8m. The result was, Nike won the world cup and became world no.1 sports brand in the football field.
INTEGRATED MARKETING COMMUNICATION PLAN: NIKE INC.
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