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1. Entrepreneurial Small Business Ventures

Part 1: Competitive Analysis and Industry Study

For additional assistance in completing a competitive analysis and researching the health of an industry, review the step-by-step video guide on Researching and Analyzing a Company and Industry.

Section 1: Comparative Analysis

The requirements for this section include the following elements:

• Compile a competitive analysis grid (see below).

• Comparatively, analyze the advantages and disadvantages of each criterion for each company against your company.

• Draw analogies from the analysis to the overall success of your company.

• Analyze global business development opportunities using a competitive analysis.

Competitive Analysis Grid

Section 2: Industry Study

The requirements for this section include the following elements:

• Describe the industry in which your company resides including the North American Industry Classification System (NAICS) code.

• Research the industry size in dollars, the growth rate of the industry in a percentage, and the future sales projections for the industry (report 3 to 5 years of industry data). Include in-text citations.

• Present information graphically, and include both positive and negative aspects of industry growth.

• Discuss how this research will impact your company.

Part 2: Marketing

The requirements for this section include the following elements:

• Describe how marketing will contribute to global business growth within a start-up.

• Develop a marketing strategy using traditional methods.

• Develop a marketing strategy using digital methods.

Your scholarly activity must be at least three pages in length, not counting the reference page. You must use at least two sources to support your scholarly activity. Adhere to APA Style when constructing this assignment, including in-text citations and references for all sources that are used.

1. Select a company that you believe has effectively reached its target market with its marketing efforts. Explain their marketing efforts and why you believe they have been effective. In the interest of a diverse discussion forum, do not select a company that another classmate has brought forward. Your initial post should be at least 300 words in length.

2. Respond to Vanessa

Hello Classmates,

In addition to discussing Nike’s ability to effectively reach its target market through emotional and inspirational marketing, another key aspect of Nike’s success in global marketing lies in its use of innovative product development and collaborative partnerships to strengthen its market position. Nike's ability to innovate both in terms of product design and in the way it engages with consumers globally has been a significant driver of its growth.

Product innovation is a cornerstone of Nike’s marketing strategy, ensuring that the brand remains synonymous with cutting-edge performance and style. Nike has consistently pushed the boundaries of product design, whether through technological advancements in footwear, such as the Nike Air technology, or the development of eco-friendly products with the Nike Flyleather collection, made from at least 50% recycled natural leather fiber. These innovations not only align with the brand's commitment to enhancing athletic performance but also appeal to growing consumer concerns about environmental sustainability. By continually introducing new, performance-enhancing products and embracing sustainability, Nike reinforces its position as an innovative leader in the sportswear market.

Furthermore, Nike’s collaborations with influencers, designers, and athletes have proven to be highly effective in maintaining its global relevance. One prominent example is Nike's ongoing partnership with designer Virgil Abloh of Off-White, which has helped the company tap into the luxury and streetwear markets. These collaborations offer exclusivity and limited-edition products that create buzz and elevate the brand’s appeal to younger, fashion-conscious consumers worldwide. By aligning itself with both high-end fashion and sports culture, Nike successfully positions itself as a versatile brand that appeals to multiple consumer segments across different markets.

Nike also uses data-driven insights to tailor its product offerings to specific regional and cultural preferences, further enhancing its global reach. Through its NikePlus membership program, the company collects valuable data on consumer preferences, workout habits, and purchasing behaviors. This information allows Nike to develop highly targeted product lines and marketing campaigns that speak directly to the needs and desires of its diverse global customer base. For instance, the brand may promote lightweight, breathable materials in regions with hot climates while offering more durable and weather-resistant apparel in colder regions. This customization helps Nike stay relevant and responsive to the unique needs of different markets.

In conclusion, Nike’s success in global marketing is not only due to its emotionally driven advertising campaigns and influencer partnerships but also its commitment to continuous product innovation, strategic collaborations, and a data-driven approach to market segmentation. These strategies ensure that Nike remains at the forefront of the global sportswear market, continuously meeting the evolving needs of consumers worldwide.

References

Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson Education.

Choi, J., & Lee, J. (2020). Nike’s Marketing Strategy: How Nike is Able to Keep Its Dominance Over the Industry. Business Insider.

1. Respond to Tracey

Hello Classmates,

One company that has effectively reached its target market with its marketing efforts is Nike, particularly through its "Just Do It" campaign and its strategic use of influencer marketing. Nike has established itself as a leader in the sportswear and athletic industry by crafting a powerful brand narrative that resonates with its target audience — athletes and fitness enthusiasts of all levels.

Nike's marketing efforts are effective due to their ability to connect emotionally with consumers. The "Just Do It" campaign, launched in 1988, revolutionized the way sports brands engaged with their audiences by focusing on motivation, determination, and personal empowerment rather than just the technical features of the products. The campaign resonated deeply with people of various demographics, tapping into the emotional drive of overcoming obstacles and pushing one's limits. This message of perseverance continues to be central to Nike's brand today, amplifying its appeal to both professional athletes and everyday consumers who aspire to reach their personal best.

Another cornerstone of Nike’s marketing success is its use of influencer marketing. The company partners with prominent athletes, celebrities, and influencers who align with its brand values. For example, its collaboration with athletes such as LeBron James and Serena Williams, as well as its involvement with rising stars in the sports world, has positioned Nike as not just a brand but a cultural symbol of success and greatness. By using high-profile influencers, Nike reinforces its brand message while building a sense of community and aspiration within its target market.

Nike also uses digital marketing strategically, reaching consumers through social media platforms, its mobile app, and online campaigns that allow for personalized experiences. Its integration of data analytics ensures that marketing efforts are targeted effectively and adapted based on consumer behavior. Nike’s ability to combine traditional advertising with cutting-edge digital strategies has allowed it to maintain relevance in an ever-evolving market.

Overall, Nike's marketing success stems from its ability to inspire and engage its audience while staying true to its brand message. By combining emotional storytelling with a diverse marketing mix, Nike continues to effectively reach its target market and drive global brand loyalty.

References

Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson Education.