International marketing - - PowerPoint Presentation Example

NIKE WOMEN ATTIRE PRODUCT STRATEGY IN OVERSEAS MARKETS Introduction of the Company: US based Nike Inc is one of the most popular sports brands of the world at large that has been offering its products in all parts of the globe for over three and half decades. Nike Women is the part of Nike Inc that is preparing sports, yoga and exercise dresses of high quality for women. The majestic brand has captured the attention of the women in almost all the countries of the world by its magnificent quality, startling designs and refined products.

The company prepares sports attires, athletics shoes, sports equipments, yoga costumes and exercise dresses for sportswomen in particular and dresses of daily practice for common ladies in general. Product Strategy: Product strategy is an important part of marketing strategy. It discusses the methodology regarding launching and presentation of a product in some specific market. It also concentrates which population should be the target consumers and how these products can be reached to these consumers.

"Product Strategy is perhaps the most important function of a company. It must take in account the capabilities in terms of engineering, of production, of distribution (sales) existing in the company or of time to acquire them (by hiring or by mergers)." (Febcm.club) Furthermore, product strategy discusses how the consumers can be motivated for using a specific product dropping the products of competitors and rival companies. “Marketing plan for a product based on the characteristics of the target market, market share objectives, desired product positioning within the market, and profit objectives.

Strategic plans for a product are based on decisions regarding the four ps (product, place, price, and promotion), financial targets and budgets, and tactical plans.”(Answer.com). Since the world has turned into a global village, the great companies have started launching their products at international markets. The Nike Women is also one among such great brands. The company focuses on the following points while making product strategy regarding overseas markets: For All Age Groups: The products are made and launched to fill the gap in the market as well as provide the consumers with the variety of products all over the globe.

The contemporary global market offers the consumers variety of choice in all products. Being the marketing leader of women attire products, Nike Women presents its products in different varieties and for various age groups. The Company always sticks to high quality product while preparing its commodities. It does not make any compromise on high quality, which is the sign of its identity. The company sometimes adopts dichotomous strategic policies too. It focuses on flexible and high quality manufactured goods for the wealthy European, Australian and Arab countries, while it concentrates on low price (and a bit low quality too) while making the products for most of the Asian and African countries.

It is therefore, the Nike Women entrepreneurship adopts the dichotomous policy of marketing and trade for its consumers. It is determined to make such a marketing strategy, under which its various merchandises can win the attention of different strata of consumers in all corners of the world. This differentiation in strategy is based on age, class and socioeconomic status; it is therefore Nike women manufacturers have introduced different consumers’ products for the individuals belonging to different age groups, social classes and cultures.

By doing this, they are able enough to win the hearts of millions of women who feel really jubilant by wearing and consuming the world class attire brand. individuals. It looks for innovative designs, high quality and comfortable products in American and European countries, while economical rates, covered attire and diversified qualities in Asian and African countries.CategoryEuropeanAsian/AfricanComfortable9585Covered/full size2084Innovative9081Economical3791High quality9863Diversified quality10100Universality and Variety: Secondly, such items are prepared and produced which are the requirement of long list of divergent sports and games including joggers, jackets, upper, shorts, trousers, shirts, apparel, underwear, handbags and much more related to sports, games and everyday usage as well.

It has been estimated that the Nike attire has successfully penetrated in the women dresses industry and maintains its offices in forty five countries of the world successfully. Nike has more than 500 locations around the world and offices located in 45 countries outside the United States. (Allbiztownworlrd)Q 2: FLAGSHIP PRODUCT: Flagship refers to the leading ship of a naval force which is thought to be the tower of the armys strength. The term is also used while defining the most prominent product of an industry or organization.

Same is the case with the Nike Women Attire, where athletic shoes are one of the flagship products of the industry. Standardization Product Strategy in Overseas Markets: Strategic management is an inevitable part of an organization on which all its activities revolve. A companys strategies, including planning, marketing and advertisement determine the growth and development of its products. Nike Inc has very successfully supported in capturing the markets of the world at large from micro to macro level.

Strategies are articulated and implemented for goal attainment. The companies revise their previous strategies and introduce novel ideas in new strategies to achieve targets and maintain reputation in the market scenario. The competition between the nations in fast changing corporate sector looks at its climax point. Nevertheless, the competitive environment has supported the companies improving the quality and maintaining the price, and indirectly benefited the consumers, yet all that has created difficulties for the enterprises, who have to work harder in such a precarious situation.

“Competition is”, Bill Gates (1995:231) states, “a boon for consumers, but it can be tough on investors, especially those who invest in a product that does not exist yet.” While discussing Nike Women Attire, it becomes evident that it has successfully maintains its high standard regarding its athletic shoes. These shoes are used by the athletics while participating in mega sports events including Olympic Games, World Cup, Champions Trophy and others. The company did not produce low quality equipments and accessories about which it perceives that low quality may jeopardise their very popularity.

Nike conducts market research through renowned Research-marketing consultancies in order to get acquaintance with the changing demands and growing needs of the consumers and customers in different areas. It keeps an analytical eye on the political, economic, social, technological, legal and environmental scenario of all the countries where it is launching its various products. Sometimes, it follows dumping policy where it feels that the rival local markets are offering the product at very low price.

In the same way, it always works on innovative ideas and introduces new, novel and unique designs according to the local policies on the one hand, and the special events on the other. for REFERENCESProduct Strategy Retrieved in http://febcm.club.fr/english/corporate/product_strategy.htmGates, Bill. (1995). The Road Ahead. Viking Penguin Books USA. P231Lamb, Charles W, Hair, Joseph F & McDaniel, Carl. (2005). Essentials of Marketing South-Western College Pub; 8 editionContentMarksScoreTheory And ApplicationConcise introduction and conclusion10Appropriate theoretical concepts supported by practical industry examples20Relevant questions raised during and after presentation10Research And ResourcesWell-researched topic15Clear and neat visual aids10High level of creativity10Interpersonal SkillsFacilitation of class discussion5Verbal communication skills5Non verbal communication skills5Totalآآ