My chosen businessto discuss about the marketing aims and objectives is Nike. They have two aimsthey want to achieve in their business for it to be successful. Firstly, thebusiness needs to ensure that they make enough profit and a good income. Thisis the first and most important objective any business would begin withespecially 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 secondaim, Nike strives to transformmanufacturing.
The products made and designed by Nike are being transformedthrough new technology and sustainable labor innovation. They are alsotransporting performance products with factories they have contracted and investedby placing high skilled, engaged, committed and well-respected workers at thecentre. Branding awareness is one of the primarygoals of advertising in business of a product’s introduction, including the publicand target market recognizing the product designed by that business/company.The brand awareness of Nike recently is very high. The packaging impacts positivelyon the awareness of Nike as it increases due to having a distinctive design. Thebox is quite simple using cardboard as the material, with a tick representing theirlogo brand image.
The price of the product affects the awareness because if theprices are expensive, individuals wouldn’t purchase the product and insteadwill go for the other competitor’s products for a cheaper price with almost thesame quality. However, if Nike sold their products for a cheap price (affectingthe awareness as well), customers would think that if it’s too cheap the qualitymust be bad and would rather pay for a better-quality product that’ll last themlonger. When creating awareness, location is another important thing toconsider in the business. This is because if Nike had a store located in anisolated area then they would obviously not have any customers or make anysales, and so stores should be placed in a busy and well-known areas in orderto 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 rightlocation with the right price. Market share is part of a market that’s controlledby a specific product or company. The packaging for the Nike boxes increasesthe market share as it depicts and promotes the Nike brand, which wouldincrease their reputation and portray a good image of the company. Also, the costs of Nike productsincrease market share due to Nike being one of the most popular and highbranded shoe stores, and this could be seen due to having such a high marketshare.
The location of where all the Nike stores are placed constructs adistinctive market share as the company ensures their placed near theircompetitor’s stores such as Adidas, Puma etc. This is because Nike has such apopular and trendy brand, that if customers walk by their store they’ll tend toget drawn to go and purchase items from Nike stores rather than theircompetitors. Nikes features are special and limited which is something theother brands don’t have (like as mentioned before Adidas and Puma), whichtherefore increases market share.