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Nike Fuel Band - Essay Example

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Name: Course: Date: Introduction As the number of health-conscious individuals and athletic people surges in an upward spiral, various product and service offerings that promise to help the people reach a maximum level of physical fitness flooded in the market or in the health and wellness industry…
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Nike Fuel Band

Download file to see previous pages... That is why some people call it activity tracker and wear them on their wrist. This will help the wearers monitor their physical activity, their daily activities in line with physical fitness like for example tracking the amount of calories they are burning. With a sheer understanding of the product’s features, advantages and benefits, one can say that it is especially formulated for athletic and health-conscious people who are looking forward to keep their body in shape and boost their athletic performance. Now generally one can say that there is a potential market for this product offering, but performing market segment analysis and identifying the segment’s market characteristics, and target marketing analysis is necessary to be employed in order to possibly define a new market segment that will help increase the demand for a certain product. Definition of the market segment In this section, the work at hand presents the actual market segments that the Nike fuel band exists in. A pie chart is shown to present with ease the relevant market share and potential market relationship. According to the case that Digital Ad Blog (2013) presented concerning the Nike fuel band and its target market, athletic individuals from 24 to 35 years old with medium-high disposable income are the potential targets of the product. The blog mentioned that these are individuals with high social usage, as 18% of them appreciate the idea of social media websites as their ultimate way out to compete with friends and family concerning their exercise goals and achievements while they want to combine altogether the quality and image, and efficiency and fashion to work out. This is supported by an article that tries to establish the fact that Nike fuel band would make sense among people who are sports minded and want to compete with other friends alike (Amsden, 2012). While athletic individuals may be the ultimate targets of the Nike fuel band, the other potential market belongs to the individuals who may not necessarily sports minded, but are just after of achieving a significant health gain linked to their healthy decisions in life (Reid, 2013). In knowing the above information, below is an approximate division of the market segments linked to the Nike fuel band, which are also the potential source of market share for the said product offering. Illustration 1. The potential market segments for Nike fuel brand with their approximate market percentage. It is in the above market segments where Nike fuel brand generate its market share. In particular and as already stated, the primary market of the product is the athletic industry. Considering this point, the target segment, which includes the athletic individuals, should make sense. However, there is also another market segment that tries to interact with the prevailing market of the athletic individuals, and generally would include people who are becoming conscious in their health. By critically assessing these segments, one can therefore formulate the idea that the market for athletic individuals and people who are conscious of their health cannot be too far, but complementary. In other words, a significant market share for Nike fuel band generally comes from the health industry, but in a little portion of it because it particularly focuses on the gadget. As to what percentage it takes generally from the health i ...Download file to see next pagesRead More
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Nike Fuel Band
“The concept of integrated marketing communications (IMC) suggests that the firm must blend the promotion tools carefully into a coordinated promotion mix,” (Kotler & Armstrong, 2010, p.436). The IMC Promotional Mix includes these mediums: advertising, direct marketing, interactive/internet marketing, sales promotion, publicity/PR and personal selling.
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Nike Fuel Band
The wristband has a design that is streamlined having LED display. The display is bright (red-to-green) and gives a person’s progress as they head toward their goal all day long. The band has four modes of display, which are the amount of Nike Fuel earned, number of steps taken, time lapsed, and amount of calories burnt.
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Nike Fuel Band
Wearers of the band form Nike are thus well-informed persons who know the implications of living an active lifestyle but may not always do what is required. They need an extra nudge to get them going. The band may also act as a visible reminder of their commitment to living a healthy lifestyle (Wortham, 2012).
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The move to digital and social marketing aims to differentiate the global sports company from its competitors. Essentially, the shift is a notable shift from Nike’s traditional methods of advertisements such as television,
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1) Describe the product *FuelBand" in all dimensions and its targeted market segment 2)Compare Nike digital marketing and Nike traditional marketing communication channels (advantages/disadvantages of both strategies) 3)What further initiatives
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