Nike Tactics and Marketing Function Audit Essay Example

products, promoting sustainable innovation, and enhancing working conditions throughout the industry's supply chain. Additionally, they invest in communities through various programs such as the Lance Armstrong Foundation. As part of their product-line objectives, Nike continuously develops new and extensive product lines while focusing on product quality, style, and feature improvements. This commitment to innovation has resulted in positive financial results, as seen in their productivity audit.

Nike's unique products and services, combined with their reputation for quality, innovation, and trendiness, have led them to implement a premium pricing strategy that aligns with customer demand. As evidence of this approach, Nike's men's shoes are priced between 40 and 300 euros on their online store. This is in contrast to competitors such as Adidas (whose shoes range from 50-100 euros), Puma (45-250 euros) and Reebok (50-150 euros).

Nike is famous for producing items that possess excellent quality, innovative features, and stylish aesthetics that are in high demand by customers who are willing to pay a higher price. But the company also provides cost-effective options for budget-conscious consumers with its selection of less costly footwear. Nike's pricing strategy focuses on the distinctiveness and fashionable nature of their products; as uniqueness increases, so does the expense. To sustain their premium pricing plan, Nike stays ahead of the game in terms of innovation and design.

Nike's prices match the customers' perception of value through trendy, qualitative, and innovative products which the company invests heavily in. Additionally, Nike's world headquarters is situated near Beverton in Oregon, where the company originated. Nike operates across over 160 countries and distributes its products through suppliers, shippers, retailers and online methods to reach customers.

Nike markets

its products globally by partnering with independent distributors, licensees, and subsidiaries. This provides customers with easy access to Nike products, which can be found in most regular sports and shoe shops such as Intersport and Perry Sports in the Netherlands, as well as in Nike physical stores and towns. Furthermore, Nike products can also be purchased online via the official Nike website and other online retailers.

Both websites, sneakerTom.com and ShoeDeals4U.com, are mentioned.

The company operates in over 160 countries and works with suppliers, shippers, retailers, and online channels to bring products to customers, making its market coverage adequate. While the distribution is satisfactory, there is always room for improvement by exploring more opportunities to expand distribution in additional countries or through online channels. The company should remain proactive in this regard. Additionally, the company sponsors various sports as a promotional tool.

Nike has partnered with top athletes across various professional sports to advance their brand promotion efforts. This includes endorsements from tennis players like Roger Federer and Rafael Nadal, track stars Asafa Powell and Liu Xiang, basketball superstar LeBron James, football sensations Ronaldinho and Cristiano Ronaldo, golf great Tiger Woods, and cycling legend Lance Armstrong. Furthermore, Nike is recognized for sponsoring some of the most distinguished football clubs in the world such as PSV, NEC, Juventus, Arsenal FC, Manchester United and Carlton Football Club. Additionally, the company sponsors football teams from different nations along with cycle racers from Discovery Channel while also having a contract worth US$43 Million with Indian Cricket team and serving as a sponsor for English rugby team.

Nike sponsors minor events like high school basketball Hoop It Up and high school track and

field The Golden West Invitational. These events are promoted through Nike's websites, which include separate sites for specific sports such as nikebasketball.com, nikefootball.com, and nikerunning.

Nike utilizes its sponsorship strategy to communicate its enthusiasm for various sports to its targeted audience, leading to an effective promotion tool that generates brand recognition and enhances its reputation.