Final Project Review and Company Selection Discussion Topic

I chose Nike for my consumer behavior research because it has become a global corporation over the last few years and catch the market as an athletic apparel maker. Nike’s products place a stronger emphasis on considering the demands of both current and potential customers (Kardes et al., 2014). I am going to concentrate on three of Nike’s consumer behavior assets: sports gear, athletic shoes, and apparel recreational merchandise.

The company caters to professional athletes and sporty people (Summer, 2021). With apparel items, the market might be vast; nonetheless, Nike’s target market is often between the ages of 15 and 40. The organization aims to serve both married and single men and women equally, and it is increasingly focusing on young people in order to maintain long-term consumer loyalty. The enterprise taps into this demographic by airing commercials featuring young adults who aspire to be like their sports idols.

Demographic factors, psychographic description, behavioral personality, geographic factors, socioeconomic factors, and perks sought are the six conversing frameworks for market segmentation (Kumar, 2021). Because the qualities are easy to identify and quantify, are accessible from a variety of sources, and are related with sport mindsets, demographic segmentation will be the most extensively employed strategy from Nike, as aforementioned in the apparel illustration.

Customers go through a five-step process known as consumer decision-making when they buy something. The five steps are recognition, informative search, alternative evaluation, purchase, and postpurchase behavior. Nike makes it easy for customers to select their preferred things. However, there are various aspects to consider when it comes to customer decision-making (Darabi et al., 2019, p 112). Because Nike is such a famous trademark, its goods are of excellent quality and premium, resulting in price hikes.

The company’s marketing approach is to invest substantially in marketing, to employ relatable emotional advertising, to supply high-quality items at premium pricing, and to sell mostly through third-party retail outlets. (Summer, 2021). Evidently, the company has successfully applied its marketing plan, as well as a grasp of how consumer needs affect purchasing decisions.

References

Darabi, M., Azizian Kohan, N., & Moharamzadeh, M. (2019). A study of brainwave processing to evaluate the effectiveness of Nike brand advertising on athletes’ decision to buy. Consumer Behavior Studies Journal, 6(2), 112-133.

Kardes, F., Cronley, M., & Cline, T. (2014). Consumer Behavior (2nd Ed.). Cengage Learning.

Kumar, P. (2021). Consumer Behavior-An Iconic Game Changer in Sales and Marketing. Vidwat, 14(1), 19-21.

Summer. (2021, April 3). Nike Marketing Strategy: Why Nike Is A Marketing Leader? Mageplaza. https://www.mageplaza.com/blog/nike-marketing-strategy.html

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