My chosen business
to discuss about the marketing aims and objectives is Nike. They have two aims
they want to achieve in their business for it to be successful. Firstly, the
business needs to ensure that they make enough profit and a good income. This
is the first and most important objective any business would begin with
especially companies like Nike as they are very popular and well-known.
Obviously if Nike doesn’t make any profit then their business would go bankrupt,
and so they ensured to consider all the factors of the marketing mix.
As for the second
aim, Nike strives to transform
manufacturing. The products made and designed by Nike are being transformed
through new technology and sustainable labor innovation. They are also
transporting performance products with factories they have contracted and invested
by placing high skilled, engaged, committed and well-respected workers at the
Branding awareness is one of the primary
goals of advertising in business of a product’s introduction, including the public
and target market recognizing the product designed by that business/company.
The brand awareness of Nike recently is very high. The packaging impacts positively
on the awareness of Nike as it increases due to having a distinctive design. The
box is quite simple using cardboard as the material, with a tick representing their
logo brand image. The price of the product affects the awareness because if the
prices are expensive, individuals wouldn’t purchase the product and instead
will go for the other competitor’s products for a cheaper price with almost the
same quality. However, if Nike sold their products for a cheap price (affecting
the awareness as well), customers would think that if it’s too cheap the quality
must be bad and would rather pay for a better-quality product that’ll last them
longer. When creating awareness, location is another important thing to
consider in the business. This is because if Nike had a store located in an
isolated area then they would obviously not have any customers or make any
sales, and so stores should be placed in a busy and well-known areas in order
to make profit and have customers aware of it, which then again creates awareness,
and so the Nike business should ensure to place their stores in the right
location with the right price.
Market share is part of a market that’s controlled
by a specific product or company. The packaging for the Nike boxes increases
the market share as it depicts and promotes the Nike brand, which would
increase their reputation and portray a good image of the company.
Also, the costs of Nike products
increase market share due to Nike being one of the most popular and high
branded shoe stores, and this could be seen due to having such a high market
share. The location of where all the Nike stores are placed constructs a
distinctive market share as the company ensures their placed near their
competitor’s stores such as Adidas, Puma etc. This is because Nike has such a
popular and trendy brand, that if customers walk by their store they’ll tend to
get drawn to go and purchase items from Nike stores rather than their
competitors. Nikes features are special and limited which is something the
other brands don’t have (like as mentioned before Adidas and Puma), which
therefore increases market share.