Develop a marketing plan Assignment Example | Topics and Well Written Essays - 500 words

Develop a marketing plan - Assignment Example The company also expects to reach more consumers as well as tremendously diverse ideas via social media. Going online is a part of their mission to shift from traditional marketing into digital realm. Nike is American multinational organization that was started in 1957 by Bill Bowerman and Phil Knight. The company designs, develops, manufactures, marketing and sells goods and services such as footwear, equipment, apparel and accessories all over the world. Twenty years down the line, Nike has joined the top companies in the footwear market. This was not as a result on TV advertisement but from positive appraisals by athletes they sponsor (Cendrowski, n.pg). For instance, the company made approximately 919.80 million dollars after Olympic players was seen wearing Nike in 1984 Olympics. The company’s mission is to innovate and inspire athletes in the world every day. Besides maximizing its profits the company also focuses on establishing environments that offer a platform for consumers to contribute into the company. Moreover, the company wants to build strong emotional ties with its consumers. The company’s target market is an active online 17-year-old user who is likely to spend 20% more to buy shoes in comparison to his adult counterparts. This is based on the fact that a significant population of young men has given up television to online communities. The company also targets over 5 million runners and other athletes to use their digital devices in determining their performance (Cendrowski, n.pg). Product strategy: currently Nike offers several apparel, equipment and accessories online such as the Nike+ running sensor, a performance-tracking tool. Nike+ running sensor has enabled over 5 million runners to check their performances. The company plans to include its new sport device, fuel band, which is able to track the energy output of its users (Cendrowski, n.pg). Price strategy: the current prices are either influenced by