An explanation associated with critical analysis of methods and concepts opted by business within sales and marketing aspect
- Analysis of approaches opted for marketing along with communication theory.
- Construction of strategic marketing plan.
- Critical analysis of marketing communication strategy.
- Measurement of effectiveness of marketing communication strategy.
Communication is two way procedure of reaching the mutual understanding under which participants are not only exchange news, feelings, ideas and information but also develop as well as share meaning. It is a process of transferring as well as understanding information from one or more than one person. Marketing communication is adopted through organisations to convey the messages regarding regarding services and products directly and indirectly to consumers with an intention to convenience them to by them (Bacile, Ye and Swilley, 2014). Various medium of communication used through an organisation to exchange information regarding services to consumers. Tools can be anything such as advertisement, personal selling, sponsorship, promotion, public relations etc. This report is based on the Nike organisation. It is an American corporation which is engaged in design development, worldwide marketing and manufacturing of apparel, accessories, footwear and also services. In this report mention about the marketing communication related strategy and various marketing communication method used through Nike organisation. The requirements of marketers understand components of process of communication before planning for any type of internal marketing campaign will be discussed under this given report. In this, effectiveness of the NIKE marketing communication strategy at the time of Pyeong Chang 2018 Olympic Winter Games will mentioned in given report.
Different methods of marketing communications and contemporary internal / external factors
In this modern time period, marketing communication is complex as well as fundamental part of marketing efforts of an organisation. It is coordinated promotional messages delivered by on or more than one channels like for an instance radio, personal selling, television and direct mail. Sometimes, it is difficult for organisation to interact with customers to aware them regarding services. Better communication with consumers will develop positive relationship among the consumers as well as business firms (Baker, 2014). In addition to this marketer uses marketing communication tools to develop brand awareness between potential and new consumers so that brand of firm can be create in a better manner. Reputed brand image is helpful in attract people for enhancing sales or profit level of firm. In this report, NIKE company is taken and it is multinational corporation which engaged in design, producing, sales of equipments, services, footwear, accessories and apparel in all over the world. It is one of the largest supplier of apparel as well as athletic shoes in world but it is main producer of the sports equipments. Under this organisation more than 44000 staff members are working and its revenue is US$ 34.35 billion. In addition to this, NIKE company uses different types of marketing communication to interact with customers. The main goal of this company is to reach to large number of population with biggest possible affect (Berthon and et. al., 2012). NIKE organisation uses many celebrities to present ideal consumers of products of company. There are different methods of marketing communication mention below:
Personal selling- It is traditional marketing communication method in which seller prospective consumers in a direct way and also inform them regarding those products in which they are dealing. It is more reliable communication mode. The personal selling of Nike efforts happen in its stores. The employees of this company are well trained to give better assistance to consumers in order to know more about goods of company and also persuade them to purchase these goods. Some times, with the help of personalize services, sales employees promote firm which assess consumers to search right products of Nike.
Direct marketing- Under this, through using emails, mobile phones, fax company directly interact with consumers without including any other party. In context to Nike company, it promote its new goods to target new market. New products generally advertised heavily. Marketing communication mix of Nike company uses this marketing to establish effective relationship with the target consumers and also motivate them to buy goods of firm.
Public relations-Under this, organisations perform the many social activities with developing positive brand image at market place (Castronovo and Huang, 2012). Activities which firm are undertaking like for an instance contributing some part from profit to child education, public conveniences, organise campaigns for blood donation and many other things. In addition to Nike firm, it uses public relation in order to address all social problems which are linked to firm like for an instance use green technology, sweatshops etc.
Sales promotion- It involves many short- term incentives in order to persuade consumer to take purchasing initiatives of services and products. This technique is not only assess in sustaining current consumers but also attract new with providing some extra advantages. The sales promotion of Nike is generally in form of special offers and coupons to target customers (Corner and Randall, 2011). In context to motivate new consumers, firm uses this technique through showing them advantages.
Nike company uses balanced marketing communications mix in addition to promote new consumers or retain existing.
Internal and external analysis of Nike Inc.
Nike firm is a global sports leader in equipments, apparel and shoes which shows its strengths against its strong competitors and that is Adidas. The board of directors of Nike includes independent and management directors (Danaher and Rossiter, 2011). External as well as internal both factors affect on activities of business. External factors affect business firm outside and company can not control them. On the other hand internal factors impact business from inside of company and management has an ability to control all these factors. In Internal factors include SWOT Analysis and in external involves PESTLE.
SWOT analysis of NIKE
PESTLE Analysis of Nike
Political factors- Politics as well as government may be seem such as outside forces realms business and regulations of government is affected through this factor. Nike company influence through political environment of United Kingdom country because it sells its goods in all over world. So, it is necessary for Nike to follow all rules and regulations of government.
Economical factors- These factors are main determinant of performance of an economy which directly affect an organisation and resonating long term impacts. There is a need to Nike that it should more focus on economies of countries where the products of sports are sells. Developed as well as advanced countries both have stable economy with the similar purchasing power of consumers. Nike company can penetrate with the sustainable profits such as Australia, United States and United Kingdom (Graham and Frankenberge, 2011). Economic factors can give an opportunity for effective Opportunities for Nike Organisation is a main stability of developed economy and rapid development of the developing markets.
Social factors- Under this taste, preferences, lifestyles and needs of consumers are changes in short period of time.