Marketing Plan, Phase Ii - 1226 Words

Marketing Plan, Phase II James Dawson, Aisha Kee Newman, Patrick Whitaker, Sheila Whitley Marketing MKT/421 University of Phoenix January 20, 2011 Professor: Cecilia Kelly The global recession has changed the buying behavior of people around the world. Understanding and meeting the needs of the customer better than the competition is the most important aspect of marketing. For a company like Nike to achieve this goal, it must first identify its target market. The best way to define the target market is through segmentation. In this paper Team A will identify the segmentation criteria that will affect the market selection for the Stress Force and identify the Stress Force target market. Describe the organizational†¦show more content†¦Carrying the Nike name, the Stress Force should appeal widely to this market segment. Markets outside the United States will be low income with the Stress Force priced according to the economic conditions and consumer buying power of that market. Local competitor information retrieved through market research will ensure the Stress Force is priced correctly. Higher income markets will be avoided purposely to keep from competing with other Nike models. The price range of the Stress Force will compete with inexpensive competitor products like Puma, And1, Fila and K-Swiss. The differentiator of the Stress Force to competitor offerings will be unmatched quality backed by Nike at an affordable price with product offerings for children, women, and men. Subtle change s to design in product offerings for each market will assist in keeping the cost of production to a minimal. Competitive Landscape of Nike Stress Force Nike Corporation has identified possible competitors as any sneaker that shares our product market and targets this market with a very similar product or service. When this situation exists, it’s important to divide the market into segments so opportunities are maximized. 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