August 28, 2022

For this Assignment, you will continue to

Week 8 Assignment Marketing. Everything needed is attached. Past Assignments and Templates needed Attached. Nike – Part 3 (4 Pages)

Assignment: Marketing Strategy for Good—Part 3

For this Assignment, you will continue to take on the role of a marketing professional to develop a persuasive marketing strategy for good. Your goal is to help society while being cognizant of the organization’s mission and goals. Your task is to continue designing a social media/social marketing campaign for your organization that would promote diversity and inclusion and could help benefit the company. Your decisions must align with the company’s mission and goals. You will continue using the same company you selected in Week 6 for this week’s Assignment.

With those thoughts in mind, continue constructing your marketing campaign design document with the following sections, being sure to incorporate appropriate examples, where applicable, as well as citations for relevant academic sources from the classroom, the Walden Library, and/or other appropriate scholarly sources to support your work.

Note: In Weeks 6 and 7, you submitted Parts 1 and 2. This week, you will incorporate any revisions to those two parts and will develop and submit your final document that includes Part 3.

To prepare for this Assignment: (Nike)

· Return to the Module 3 Assignment Template you utilized in Weeks 6 and 7. With the research and readings from Weeks 6–8 in mind, incorporate any feedback, as needed, into your report as you complete Part 3.

Submit your completed design document, including the addition of Part 3, as follows:

Part 3: Marketing Strategy Execution for Change (approximately 4 pages)

· Based on the identified needs of the target market, sub-groups, and any additional stakeholders, brainstorm a minimum of four ideas for the marketing campaign. Remember that the point of brainstorming is to generate new and creative ideas. Do not spend your time evaluating the ideas or determining their feasibility in terms of costs, resources, time constraints, etc. You will do that next. Simply record the results of your brainstorming session as a section of your design document.

· After generating your list of ideas, identify the one you feel is most appropriate for the organization given its positive social change goal. Then do the following:

· Briefly summarize the main messaging and steps for execution of your proposed social-change-focused marketing campaign.

· Summarize what steps the organization can take to increase the chances of smooth execution of the proposed marketing campaign, including strategic considerations related to the following:

· Resources (time, money, personnel, acquisition of materials, technologies, etc.)

· Implications for the different stakeholders (i.e., consider multiple perspectives)

· Possible risks requiring mitigation (i.e., might there be any potentially negative impact of the organization engaging in this marketing strategy for good?)

· Finally, to conclude your campaign design document, synthesize how this marketing campaign will promote diversity and inclusion while influencing positive social change, and provide specific details to support your thoughts.

· As part of your synthesis, provide a compelling and persuasive summary of why this campaign is important for the company’s brand/reputation and how the company will benefit from it.

Module 3 Assignment: Marketing Strategy for Good

Prepared by:

Date:

WMBA 6060: Marketing for Competitiveness

Part 2: Marketing with the Customer in Mind

Nike's external stakeholders' influence on designing the marketing campaign

Consumers, stockholders, members of government and business, and activists are just some of the stakeholders that Nike regularly communicates with. These stakeholders will provide input on the marketing campaign's direction, assisting with identifying critical problems and formulating strategies for implementing corporate social responsibility (Hale, 2021). The corporation should see stakeholder participation as a vital facilitator of risk management and new product development. As a result, Nike's reputation for social responsibility is strongly impacted by the communities it serves as stakeholders (Hale, 2021). When a product is seen to have a net positive social effect, consumers are more likely to purchase it. The objectives of these stakeholders encompass encouraging community growth.

Nike company customer base that reflects diversity and inclusion

Consumers of Nike fall within a broad age range, often between the ages of 15 and 45. To assure future development and create lifelong brand lovers, Nike targets middle-aged customers with discretionary money while also developing its engagement with younger audiences (Dupree, 2020). The company's customers include both men and women, but the majority of the company's resources go into developing its women's collection, which includes such products as leggings, sports bras, and "athleisure." Nike is also popular among U.S. teenagers in terms of footwear and clothing this year (Dupree, 2020). Nike's premium brand image and price structure reflect that most of its customers come from more affluent socioeconomic backgrounds. The typical Nike shopper is an avid athlete who values a healthy and active lifestyle. Consumers in the Nike target demographic are not only highly competitive athletes but also trendsetters and technophiles who want to have the best and most cutting-edge gear in the fitness industry (Dupree, 2020). Nike often targets emerging psychographic groups as part of an effort to expand its customer base. Some examples of this demographic include "weekend runners," people who like to exercise on the weekends and may even be preparing for a half marathon, and "style shoppers," women in their twenties who are interested in sporting the newest in sportswear trends before, during, and after their exercises.

Marketing and Customer Needs of Nike

Marketing's foundational idea is based on meeting fundamental human needs. Nike must rely heavily on the endorsement of well-known celebrities in order to boost the reach of its social media campaign. As a company, Nike is committed to exploring novel approaches to product development and market satisfaction. The needs of the customers may be broken down into three classes: The footwear must meet three criteria: (a) it must be easy to walk in; (b) it must be lightweight; and (c) it must be reasonably priced. Nike can better meet its client's needs by engaging them in two-way communication; the company clearly doesn't simply listen to its customers; it takes the feedback it receives and uses it to improve its products (Eyada, 2020).

Nike customer buy-in

Retailers have seen an uptick in athletic footwear sales due to consumers' growing interest in health and fitness. They understand that regular physical activity is just as crucial as a nutritious diet. Nike has successfully capitalized on this trend by making their goods widely accessible and pushing these ideals in their advertising. At the moment, the firm relies on endorsements from famous people to boost sales and awareness. The firm is aware of the fact that certain clients would prefer to do business with well-known people. It demonstrates why Michael Jordan, Tiger Woods, and Michael Johnson are some of Nike's sponsored athletes. The firm convinces buyers that they are in on the action with these famous faces (Tuleja, 2021). The brand's success in the U.S. and European markets may be attributed largely to the celebrities who have endorsed it.

The worldwide competition in the sportswear business poses the greatest risk to Nike's ability to win over its current and prospective new consumer bases. There are also other brands out there, including Adidas and Puma. The firm is losing a lot of money due to the present spending on advertising and promotional sales. So, it's natural that there would be competition in yet another area.

Market development is a typical recommendation that will help Nike Company beat the competition and win over customers. This might be anything from the kind of message to the manner of delivery. Targeting untapped markets or niches paves the way for the company's expansion.

References

Dupree, A. R. (2020). The Impact of Nike Inc.'s Utilization of Sustainable Business Practices in Their Marketing Strategy on Brand Equity, Brand Image, and Brand Loyalty (Doctoral dissertation).

Eyada, B. (2020). Brand activism, the relation and impact on consumer perception: A case study on Nike advertising. International Journal of Marketing Studies, 12(4), 30-42.

Hale, K. (2021, September 9). Nike shareholders race towards Diversity Data. Forbes. Retrieved August 21, 2022, from https://www.forbes.com/sites/korihale/2021/09/08/nike-shareholders-race-towards-diversity-data/?sh=79817403c01e

Tuleja, E. A. (2021). Nike, Inc. Intercultural Communication for Global Business, 216–222. https://doi.org/10.4324/9780367423827-15

Module 2 Assignment: Marketing Strategy for Good

Prepared by: Replace this text with your name.

Date: Replace this text with the submission date.

Walden University

WMBA 6060: Marketing for Competitiveness

Part 1: Laying the Foundation for Persuasive Marketing Tactics

Replace this text with introductory information. Add or remove headings as necessary.

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