Brand positioning of Nike is an example of a brand strategy.
Nike, an Amercian multinational corporation established in 1964, is engaged in the design, development, manufacturing, and worldwide marketing of footwear, apparel, equipment, accessories and services.
Nike is the world's largest supplier of athletic shoes and apparel.
Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, and subsidiaries are all part of the Nike brand.
In this article, we will discuss the positioning of Nike, how it segments and targets the market, and then position itself differently for each market segment.
Mass markets are divided into different groups of needs and wants.Get to know the customer in a much more detailed manner, gain a competitive advantage, and be able to serve the customers' needs and wants better are some of the motives behind segmenting.
Psychographic segmenting divides markets according to a person's lifestyle, social or personality characteristics.
When a brand touches the emotions of its customers and builds on them to position itself, what happens?You will find an example of Nike.
Whether you are a fat American man who can barely walk, a 65-year-old man trying to do any sort of physical activity, or a middle age urban woman who plans to switch to a healthier lifestyle, the brand connects with everyone.
With the mindset that everyone is an athlete, Nike targets to cater to all the people around the world, belonging to any age group who wants to live athletics lifestyle.
Nike believes that everyone in this world is an athlete and that's why they're an athletic-wear company.
Consumer demographic variables include age, income, family size, socio-economic status, etc.
Middle and high segment customers of all age groups are targets by Nike.
The pricing of Nike products is easy to understand for the customer segments.
The company needs to decide on the Targeting strategy.Companies need to choose the market segments that they want to focus on.The marketer has a lot of decisions to make.
There are a few potential market segments that Nike chooses to target.
A core framework for developing marketing plans and setting objectives is the final step in the S-T-P planning approach.
The next step is to design a marketing program that will appeal to the target market.
In-depth knowledge of the key market segment like their buying behavior, their likes, spending patterns, purchase drivers, media habits, etc are required before devising the marketing strategy or programs.
Creating profiles for customers in their target market segments is one step that marketers follow.
Nike is an innovative and inspiring brand for its target audience.
Nike has successfully moved their brand to be ubiquitous in nature, which has something for everyone and has slowly shifted from a product focus to attitude focus.