Nike Inc - Essay Example

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Nike Inc

According to the report in terms of behavioral segmentation, the product is target to the loyal customers. The product is priced at $149, which makes the product a luxury product. The product would therefore not greatly appeal to the price sensitive consumers and they may look for the same product offered by cheaper brands. Since the product is more of a luxury than a necessity, the price sensitive consumer would be generally not attracted towards the product.This paper discusses that product development strategy is best suited. This is because the product is new, with a few modifications from the first generation Fuel Band but the market remains the same. With this product, Nike is and should continue to target its existing consumers which are sports loving people who live and enjoy an active lifestyle. They are mostly high-end sophisticated consumers to frequently and even occasionally consume luxury products such as the Fuel Band. In terms of the environmental uncertainty Matrix, the product is positioned as high uncertainty. Products positioned in this area of uncertainty have the following characteristics: dynamic and unpredictable market; involves many components; requires high skills and knowledge.  Since the Nike Fuel Band fits in all these areas, it faces high uncertainty in the market. In terms of competition, the company faces competition from mainly three other products: Jawbone UP, Fitbit Flex and Basis. ...Show more

Summary

This discussion stresses that Nike is a name that is almost synonymous with sports shoes and also sports goods. The company, through endorsements and sponsorships mainly, has developed a strong position in the footwear industry as a sports good manufacturing company. …
Author : douglaselliot
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