Yearly Integrated Marketing Communication Campaign for Nike - Coursework Example

WORK, MARKETING 12 MONTH INTEGRATED MARKETING COMMUNICATION CAMPAIGN FOR NIKE Module leader: Executive summary The product brand of choice in the Integrated Marketing Communications Campaign is Nike. The business will need to involve itself so much in trde promotional and product promotional communications and campaigns. This is to cater of the stimulation of more demand for the Nike brand of product. One factor that has to be reiterated and noted down is that the communications campaign in marketing the product are quite effective and could be probably because of the reduction in the demand due to poor product quality, availability of a product that is a substitute of the latter product or because of increased and accelerated rates of completion among the sellers and suppliers of the product. The business will sell Nike brand of products that it produces to ideal customers cover all classes of people (Joseph, Gregory and Thomas, 2011). The products stand unique in the market because of the affordable prices that they will be charged. The owners of the business are professionals in the industry; this was to ensure that their skills can as well be combined in the production exercise. The business has future projects of expanding its operations to the foreign markets and thereby expands the markets of the business to enable the business increase the sales to greater heights and then maximize on the profits. The marketing communication campaign is very much effective in the attracting and drawing of customers to the business, creating a good image of the business and therefore retaining the loyal customers whose loyalty had been won by the business. It is also important to highlight that this campaign is very much aware of the size of the market segment that is within the capture as well as the market segment it intends to sell Nike product to. The market knowledge is very crucial as a mistake made in the location of the target market is almost to near impossible in correcting (Terence and Craig, 2012). Introduction This paper delves in the discussion of Integrated Marketing Campaign, (IMC). This can be defined as the measure that the various firms use in attempt to achieve and reach the set targets, missions, goals and objectives that were put in place during the initial stages of planning. In this approach, it is therefore important to highlight that the techniques that will be used by the firms and business institutions are complementary in nature. This is because each method kind of gives another support in one way or the other and they can be used I place of the other as well since they are all geared towards one target. In this exercise therefore, what is ensured is that all these are integrated, well coordinated and then intimated in action. These are the sales promotion, promotion, advertising, personal selling, and public relations (Shay, 2001). During this exercise or campaign, it is quite in order to be very honest and that the information that is disseminated to the consumers is real and that the consumers are not lied to in any way. For the case of Nike, it is important to reiterate that thus is a company that is based in America and that the company majorly deals with the development, designing and marketing on all the clothing, footwear and equipments that are sports oriented (Geoff, and Gini, 2012). Objectives of the Integrated Marketing Communication To gain and retain more customers in the market thereby increasing the sale and profitability of the Nike product. To ascertain and determine the needs, tastes and preferences on the customers in the market thereby making the necessary amendments concerning the product to suit the needs of the customers. To identify the best possible way to market the product in the market thereby enabling the customers to obtain the Nike products as desired. Integrated marketing communications it is very much in order for the company to engage itself in the integrated marketing to increase the sale of the product. In this context therefore, the following measures will be used in the marketing of the Nike product (Larry, 2008). Advertising Advertising is the process is a form of medium that is used in the making of a product known to the consumers. This s very diverse as the consumers is alerted of the various aspects of the product and the organization that is providing the Nike product. Advertising campaign therefore for the product will be as follows (Shay, 2001). i. Product advertising This is a type of advertising that aims at creating awareness to the customers and consumers that the product entering the market is new and that the customers are to know about the product arrival. It is this form of advertisement that stirs up demand for the product. The customers are given the product features and the components that make up the product itself (Shay, 2001). ii Primary market demand In this type of advertisement, it is conducted on a new product, the Nike brand that is, that is entering the new market. This is usually done on a product that is probably entering a new market segment and that the consumers are made to know its availability into the market. Primary market demand is very essential in the stimulation of more demand for the product in the market (Terence and Craig, 2012). iii Competitive advertising In this type of advertising, it is important to highlight that the Nike Company conducts advertising strategies on the product and this is due to the strong, accelerated and stiff competition in the market by the suppliers of the product. The competitive advantage that the product has against the other suppliers in the market is the large scale operation and the size of the capital base in the company assets and financial base (Terence and Craig, 2012). iv Institutional advertisement This is a form of marketing strategy that is used by the various business institutions in the boosting of the loyalty of the customers thereby making them to continue using the Nike product for long. It is important to highlight that the customers are the key to the success of the business and therefore any measure that is used in the marketing will have much influence to the consumer purchasing welfare (Shay, 2001). SWOT Analysis It is important to highlight that the business can only excel and succeed if there is proper and efficiency in the SWOT (Strengths, Weaknesses, Opportunities and Threats). The strengths are the advantages that the Nike product has against the other competitors; Weaknesses are the possible factors that would possibly make the Nike company products to reduce its supply and demand in the market (Terence and Craig, 2012). STRENGTHS Strong brand Strong market positioning Strong economies of scale in the company Broader Nike product line in the production and delivery sectors. Strong networks Very strong promotional techniques WEAKNESS Rigidity to open the company to outsiders due to financial constraints Not shareholder friendly due to high share prices The persuasion of the customers as the best product in the market is problematic and difficult. OPPORTUNITIES Good reputation due to the high quality products and also affordable market prices Very loyal customer base towards the business Very loyal employees to the business thereby working diligently for better output THREATS Strong competition in the market Fluctuation in Nike product demand Personal selling This is a form of product promotion that is conducted in the sense that there is direct customer interaction with the sellers. This is a very much effective method of marketing as the customers can be shown on how to use the Nike product. This is usually effective in the case where the product is quite technical and there is need for demonstration on the product use especially. Personal selling is used in the case where there is new product that is introduced into the market and that that there is need for the customers to be told on the product features are and the components and structures that are making up the market (Larry, 2008). Internet It is important to highlight that for the marketing of the Nike product to grow both locally and internationally, there is need to make the marketing quite broad and involve the rest of the world in knowing the availability of the products in terms of features, uses and even the most suitable areas to get the product (Geoff, and Gini, 2012). References Geoff, L. and Gini, D., (2012). Marketing in the Round: How to Develop an Integrated Marketing Campaign in the Digital Era, Que Publishing, page 238. Larry, P., (2008). Strategic Integrated Marketing Communication: Theory and Practice, Routledge, page 513. Shay, S. (2001)., Campaign Planner for promotion IMC, Cengage South-Western, page 183. Joseph C., Gregory J., Thomas A., (2011).,Commercialization of Innovative Technologies: Bringing Good Ideas to the Marketplace, John Wiley & Sons, 2011, page 419. Terence S., J.and Craig A., (2012)., Advertising Promotion and Other Aspects of Integrated Marketing Communications, Cengage Learning, page 510 Appendix Integrated Marketing Communication budget Read More