What’s Nike’s marketing strategy? Like all globally recognized brands, Nike has known how to carry out an efficient marketing strategy. This American multinational company dedicated to designing and producing sports equipment uses the marketing mix to communicate with its target audience. In this case, it would be those who are part of the footwear and exercise equipment industry.
“The success of this company emphasizes the benefits of effective marketing communications.” This phrase clarifies why this company is still so successful despite its years in the market. Similarly, Nike focuses on using marketing communications, considering that it’s the best way to promote its business and products. All while taking into account the dynamics that pertain to its target market.
What is Nike’s marketing strategy?
Nike’s goals and strategies have always been apparent. This is why they use a combination of communications, or what is also known as the 4 P’s of Nike. In other words, price, product, the point of sale, and promotion. In fact, if we detail Nike’s pricing strategy or other actions implemented to promote the brand, we can say that this company is a great example for others.
Nike has become a great example among companies that have decided to use different types of communication. However, this combination in the marketing world reflects other companies through advertisements and other activities. For example, social media presence, sponsorships, and social campaigns.
Founded in 1964, this brand’s success is due to taking advantage of today’s most effective marketing communications.
Now, why have these communications been effective? It’s all because this brand has known how to strike a balance between attracting potential new customers and keeping existing customers loyal.
What is Nike’s strategy to sell?
By mixing the communications in Nike’s marketing plan, this brand has increased its value. Not only in its direct marketing but also in its personal selling, sales promotions, public relations, and marketing campaigns.
Besides, this also allowed Nike to promote its products effectively and strengthen its image. After all, a strong brand image is vital for all brands. In fact, it contributes to long-term success.
To maintain good sales, these are the strategies used by the Nike company through the combination of communications provided by marketing:
Advertising Nike products
One of Nike’s 2021 strategies has been to reach a large audience to achieve the greatest possible impact. That’s why its successful advertisements have promoted the brand among customers, improving their perception of the products and company.
However, although advertising is usually a marketing action without errors, most of the time, it’s costly. Even more when you want to take traditional media such as radio, press, and television. Nonetheless, despite the high price of this type of advertising, the brand still uses it. As a result, it has reaped the rewards of having a stronger brand image and more demand for all its products.
Working with different celebrities
Nike has always been characterized by working with professional athletes to represent its products’ consumers or ideal clients.
This way, potential customers can see how their favourite athletes use Nike products, and this action doesn’t leave the quality in question.
This has resulted in the client generating a purchase need linked to better performance when playing sports.
The personal sale of the brand
This company has always had personal sales efforts carried out in stores and reinforced with customer service afterward. Because of this, they have a team trained to provide the help that customers deserve. This point is significant. After all, the said team should have enough knowledge about each product. Added to this, it should be persuasive to achieve the desired sales.
Personal selling has become very important. That’s why Nike included it in its marketing strategy, which has also improved its customer experience. In this sense, at the time of a customer’s purchase, Nike does a personalized follow-up from the first contact. In short, when a customer makes contact, it reaches out to them either through recommendation or promotion.
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