How Nike Meets The 5 Principles Of Marketing?

Customer needs are one of the 5 principles of marketing at Nike there mission is to represent the highest service standard within and beyond their industry, whilst building loyal customer relationships around the world. They do this using primary research some of this research includes questionnaires on their website and FAQs which are designed for customers to ask questions and have an opinion about Nikes products. As Nike sponsor a lot of athletes and celebrities they have to no what they look for in a product ie football boots for David Beckham he'll have a small input into how he wants them manufactured as he is to wear them but Nike get a lot back from this because people see him wearing the boots and want to buy them this is linked competition one of the other 5 principles of marketing.

Nike also uses secondary research which is research that has been gathered already either in the past or by rival companies for example in the 70s and 80s Nike and other companies such as adidas had great success with classical trainers as everyone wanted them and had them and late 90's through to the millennium more people were buying adidas classics so it was conclusive that classics would sell well so Nike re-released classics and it was a success Nike made a profit and the customers got there classics.

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Competition existing with every business and company and products that businesses and companies sell this is because of the amount of companies marketing the same product.

In order for Nike to keep ahead of its competition (adidas and Reebok) its need to find out what they are selling and how they are selling it for example adidas released a set of adverts during the world cup to do with 'footballitus' which was promoting adidas football boots and kit. So in response to the competition Nike released a chain of adverts for Nike football which involved all the famous world class players who were sponsored by Nike playing football in a cage with the re-released song of Elvis's it was so success full that they launched the Nike football game on there website and the advert was extended to show the whole Nike football tournament this was due to popular demand of people posting notes on the website and emailing Nike for more. Nike found out what adidas were planning to do and did it better just like any other company should do if other companies are selling a similar product.

Communication is vital other how would Nike be able to research for customer needs and suss out the competition. Communication is the exchange of information either through word of mouth letter or technology such as the Internet and television. Nike used the Internet to set up a website which can be used to access information about its products and future developments or simply to play the games such as Nike football. Nike use the television to advertise their products to the millions of TV viewers across the world so everyone knows what they are about and what they offer i.e. the Nike basketball advert people who have seen that advert should now know that Nike design products for basketball players and fans. In America they have huge billboards of famous sports people who are sponsored by Nike this is a form of communication as it is telling the public that you should wear Nike clothing because this sports person does and it works.

In order for Nike to successful and keep making huge margins of profit it has to co-ordinate its marketing by using business strategies and making important decision which could either make a lot of money of lose amount of money for example releasing a new trainer Nike has to co-ordinate its advertising strategy so that the trainers get as much publicity as possible because the more people that see it the more chance of people buying it. They need to provide the sales promoters with daily customer requirements so they no how to get through to the customer to sell the trainers.

In order for Nike to function in marketing it has to abide by some constraints for example the law Nike cannot copy a football boot that adidas have brought out and put there name on it that is against copyright laws. Also the competition is a constraint as it can limit what your producing because if they have the upper hand and bring out a running trainer that has all the requirements that the runner needs Nike cant make one better just equally good or not as good as the requirements have been met by the opposing company. Nike have to meet the consumers needs otherwise the product will be difficult to sell as lack of interest will result in loss in profits. Nike doesn't have the problem of being limited from a financial side of things because last year they made profits of nearly $9billion dollars so diversification is always taking place in Nike with this profit they can ensure that they complete all the 5 principles of marketing affectively and to the highest standard possible.