Marketing Essay Example | Topics and Well Written Essays - 2500 words - 6

Marketing - Essay Example The various techniques used for the Nike shoe are then able to strategically position the shoes ahead of other competitors that are in the market to sell shoes. Background of Organization Nike was established in 1972 by business owner, Bill Bowerman. The idea began in 1964 with the desire to create an athletic shoe that could be used effectively for competitive sports. By 1971, Bowerman had established a shoe that would work and then created the Nike brand to develop the new mechanics and techniques for the shoe. Bowerman began by making a contract with the University of Oregon runner Phil Knight. The approach was to give running shoes that would help Knight to have ease o use while running without having some of the malfunctions that come with basic shoes that are used. The business quickly gained a strong reputation in footwear with a current stance of 160 countries which sell the footwear and the employment of over 1 million people. The approach is to use a set of diversity inclus ion within the organization while creating a strong reputation among those interested in the footwear (Nike, 2011). The success of Nike, with a revenue of $91.2 billion in 2010, is one which is based on a portfolio of products. There are now several affiliate businesses that work with Nike for the brand reputation. These include Cole Haan, Converse, Hurley International, Nike Golf and Umbro. The brand identity that is established all carries the overall features of the Nike logo. This is then divided into specific shoes used for sports, such as running shoes, basketball shoes and other specialized makes and models. There are also divisions for women, men and children to further the brand identity. Nike has incorporated sportswear as well as personal trainers with electronics to assist those that are looking for a different approach to their athletic regimen, creating a different set of brands within the Nike organization (Nike, 2011). Marketing Techniques and Strategies The marketin g techniques that are used by Nike involve several dimensions of finding what the best methods are to reach consumers. The first way in which this is done is by segmentation. The theory of segmentation is defined as creating a presence by noting different target markets which would be interested in a product. Meeting this need by establishing demographic relationships can then provide a stronger movement toward sales among those that are interested in the products (Alderson, Cox, 2006 pg. 137). The segmentation of the products isn’t done by developing the product first, then creating a market that will need the item. Instead, there is an established presence created by need first. Each of the shoes that are presented by Nike is segmented first, than established with the mechanics of the shoe to create a need within the segment. Basketball, soccer, football, running shoes and segments among women and men are some of the several ways that Nike has approached building its brand. This is done within the internal environment first, than leads to establishing a presence among those in need with the item. The concept of segmentation becomes essential by noting that there is a need among different groups of individuals, which Nike can then meet by building a reputation from the science used behind the makes and models of each of the shoes. The target

Knolege creatain Essay Example | Topics and Well Written Essays - 250 words

Knolege creatain - Essay Example niversities are responsible for this in efficient growth of clusters and business industries are putting in no effort to make use of them for growth and innovation. Each sector has to play a certain role with constant coordination to overcome crises. Grant (1996) suggests that knowledge infuses increased performance opportunities for firms able to understand, and utilize relevant knowledge efficiently. The role of a business industry is to sponsor extensive funds for research work to universities who are struggling hard to raise funds beside their limited funds from government to bring in exceptional innovations, technology and knowledge. Mode 2 is interconnected and not possible without a thorough work of mode 1, therefore business industry should collaborate with universities to carry on research and expand the area of innovative knowledge with practical experiments over it and simultaneously, business industry should give internships, job training and design an individual area to comprehend mode 1 studies into mode 2 work which can examine the loopholes in academic knowledge and its implementation in practical experiences which is not possib le in isolated environment of universities. This changing wave of knowledge economy has a great impact and acts as a driving force towards new opportunities for industries and will smooth the dynamics between universities and industries in the long run. Students independently cannot achieve a complete combination of theoretical and practical work if exposure is not provided but can help demonstrate through their university projects, though not sufficient to unfold their growing minds but can contribute. It is beneficial for students to use their academia through internships or part time jobs in the relevant industry in summers or annual vacations. Universities are the pathways for students but students themselves should take initiative to promote practical enforcement of their academic theories however on large scale,