Supply And Demand of Nike company Samples †MyAssignmenthelp.com

Question: Discuss about the Supply And Demand of Nike company. Answer: Introduction In this paper, we are looking forward to open the online showroom for the Nike shoe industry to increase prosperity and the profit of the company. The success of the Nike online showroom depends on the analysis of the marketing strategies, promotional activities, analysis of the competitors, and analysis of the target audience. Creativity and additional functional module in the web portal helps in attracting larger amount of customers towards the company. Analysis of the company The Nike company is becoming one of the top brand in the sale of sports footwear and other accessories. The aim of the company is to provide best services to their customers. In the modern world of internet, the company decided to open the online showroom for their customers so that they can get home based shopping experience. Issues The innovation in the trends and technology due to the increasing growth of internet has restricted the growth of the company (Zlatanova, 2012). The customers are attracted towards the online shopping centre. The owner of the company wants to change their marketing strategy plan. Analysis of the competitors Adidas is the main competitor of the Nike company. The Adidas has increased their profit with the development of web portal for their business. The marketing momentum of the Adidas company got a failure due to the delivery of poor quality shoes to the customers at their door step. The other major competitor of Nike is Reebok. The development of web portal has completely transformed the working criteria of the company during the early stage but later on the customer get distracted due to the delay in the delivery of the product. Competitive analysis Adidas Reebok Strategy Increased distribution and sale through the development of online stores Reebok has increased their operating cost to provide good quality shows to the customers Target audience Men, women, and children Men and Women Brand Recognition of the brand is improved Recognition of the brand is decreased due to improper management of online showroom New design Provide similar design Working on providing new design of shows with extra features Target market The target audience of the company are the people who belong to the age between 18 to 40 years of age. Achieving fitness and the body shape is the major aim of the people (The Internet marketing academy, 2014). The daily physical activity program of the people requires a comfortable pair of shoes which are breathable. The addition of extra features in the development of the shoes according to the requirement of the consumers helps in attracting new customers towards the business (Millanyani, 2012). The study of target audience helps in increasing the profit and the revenue generated by the company. Project objective The objective of the company is to gain financial profit by expanding the marketing area of the company with the development of web application. The company is looking forward to enter the foot step in the online global market. The company is focusing towards to increase the revenue up to 50% of the companys profit. The major aim is to develop new online market for the business. Project strategy The Owner of the Nike organization is looking forward to develop the project strategy by the analysis of core competitors such as Reebok and Adidas. The analysis of the competitors marketing plan helps in delivering high quality product to the door step of the customers on demand without making any delay in the delivery time of the product (Flynn, 2015). The study of target audience helps in knowing the actual requirement of the customers. The recognition of the customer needs help in developing the product according to their requirement. The requirement of the customers should be clearly analysed for the designing and addition of the new features to the product to make it unique from the product of the competitors. This study is advantageous in maintaining the supply and demand of the product in the competitive market (Soles, 2013). The SWOT analysis of the company is helpful in knowing restriction and constraints in the success of the companys reputation. Strength Weaknesses Opportunity Threats Clear understanding of the target audience requirement Online and offline promotional activities Lack of awareness in the customers about the online portal of the Nike showroom Clear understanding of the customers requirement help in adding new features to the existing product Addition of new marketing trends in the web portal of the marketing competito Implementation plan The implementation of the web portal for Nike organization should be indulged with the promotional program to make customers aware about the entrance of the industry into the world of online global market (Efrimidi, 2015). The social media platform is the best suitable for undergoing promotional activities for the company because the social media is the point of attraction for the age of people between 18 to 40 years which is the target audience of the firm. The attractive images of the shoes and their extra features should be highlighted so that it can be predicted by the newer generation. The highlighted product should be equipped with the direct link of the company at the bottom of the image so that the customers can directly go to that link and purchase the item of their own choice from the online showroom of the company. After the purchase of the product, the customers should be asked for rating the web portal (Davies, 2013). The achievement of five star rating helps in attracting new customers towards the website because the highly rated website is the preferred choice of the customers. The posting of the advertisement on the Instagram portal is the most effective one for the popularity of the product and the web portal. The customers should be provided with the cash on delivery option also which helps in building trust of them on the website. Recommendation It is recommended that high quality product should be delivered to the door step of the customers on demand without making any delay in the delivery time of the product. The supply and demand of the shoes stock should be maintained at the warehouse of the company. The social media platform should be used for making the customers aware about the availability of the online showroom of the Nike organization with the clear description about the payment options, new extra features of the product, addition of attractive images, and etc. Conclusion From the research, it has been concluded that the analysis of the target audience and the pitfalls of the marketing competitors helps in the development of the successful online portal for the company. References: Davies, T. (2013). Marketing Research and developing a marketing plan. Retrieved from https://www.regionalbusiness.ca/images/pdfs/market_research_guide.pdf Efrimidi, K. (2015). Marketing plan for developing and promoting sport shoes online shop life shoes. Retrieved from https://diposit.ub.edu/dspace/bitstream/2445/64464/1/TFG-ADE-Efrimidi-Ksenia-febrer15.pdf Flynn, P. (2015). Nike marketing strategy: A company to imitate. Retrieved from https://www.albany.edu/honorscollege/files/Flynn_Honors_Thesis_(5-11-15).docx Millanyani, H. (2012). Online Marketing strategy of Cibaduyut footwear industry in Bandung: An effort to face global hyper competitor. Retrieved from https://www.sibresearch.org/uploads/2/7/9/9/2799227/riber2012-158_150-162.pdf Soles, P. (2013). Women shoe store marketing plan. Retrieved from https://www.mplans.com/womens_shoe_store_marketing_plan/marketing_strategy_fc.php The internet marketing Academy. (2014). Developing an internet marketing strategy. Retrieved from https://web.ftvs.cuni.cz/hendl/metodologie/developing-an-internet-marketing-strategy.pdf Zlatanova, R. (2012). Data management in the footwear industry. Retrieved from https://www.cognizant.com/whitepapers/Data-Management-in-the-Footwear-Industry-codex1569.pdf