dan chilton, dan grogan, garrett hoag, jeremy moglen, erin wolstenholme
TRANSCRIPT
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NIKE FIRE
Dan Chilton, Dan Grogan, Garrett Hoag, Jeremy Moglen, Erin Wolstenholme
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Road Map
Introduce Nike Market Assessment SMART Objective What are new product is Service Decisions Sales Additional Revenue Financial Analysis Evaluation and Control
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Nike, Inc.
Founded in January 1964 Bill Bowerman Phil Knight With a handshake, $500 each, mutual
trust, and an order of 300 Tiger running shoes
Started as Blue Ribbon Sports, Nike name and swoosh taken over in 1971
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Nike, Inc.
First athlete endorsement:Steve Prefontaine
Total Revenue= $25.3 billion
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Organizational View Mission:
To Bring Inspiration And Innovation To Every Athlete In The World” * If You Have A Body, You Are An Athlete
Vision:to help NIKE, Inc. and our consumers thrive in a
sustainable economy where people, profit, and planet are in balance. To get there, we’re integrating sustainability principles and practices into everything we do: design; developing sustainable materials; rethinking processes; advocating for change in industry. To measure our progress, we set ambitious long-term targets and report on our performance
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Organizational Culture
Nike’s culture wants to engage and inspire creative innovation.
Developing the best employees is the most beneficial asset to the company
Nike’s philosophy is to have mutual trust and respect among everyone in the company
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Market Assessment
SWOT Strengths - New Market, new line Weakness – competitors, never done
product before Opportunities – New partnerships/more
income Threats – Bad image, lower standard of
Nike
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Market Assessment
Primary- survey released to random super markets
Secondary- Energy Drinks Psychographic Segmentation –
common lifestyle
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Market Assessment
Positioning- Sports affiliated area, professional athlete/professional team willing to back the product.
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SMART Objective
To establish the Nike Fire to over 2 million dollars in profit in the first year of manufacturing.
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Marketing Mix
Product: Nike FireHaving all of the great ingredients of a sport
drink on the market already with an added bonus of an energy boost
Price:$1.99 for 3 pack $9.99 for 5 gallon
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Marketing Mix Limited Distribution
Sporting goods stores Nike Outlet Stores
PromotionsCommercialsMagazine ads; SLAM, ESPN, SI, Runners World,
EastbayCoupons Promo-codes Sampling at Nike outlets Social Media
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Marketing Mix
Public RelationsMulti-camps Athletes
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Sales Management
Push StrategyIncentives for warehouse and retailersMonetarySigned memorabilia
Pull StrategyPromotions
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Service Decisions
Nike Fire will be tested with elite athletes University of Oregon Tested in labs Will determine how the product will work
Surveys Conduct consumer surveys Take the feed back to make adjustments to
the product
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Risk Management Reputation
Prevent law suites ○ Nike Fire will make the initiative to resolve
problems before/ while they occur include making a public announcement, whether a press
conference or formal address to the problem to inform the public on what had occurred.
Health and Nutrition LabelsAllow the consumer to see what is in the
product. ○ To create prevention
Example- allergic reaction
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Areas of Incremental Revenue
With Nike having a phenomenal grasp on the sporting goods market, Nike Fire will be able to sell products with the Nike Fire Logo on them.
Along with selling Nike Fire Product, we will sell refillable water bottles, that will contain a free sample of the powder.
Another product that Nike Fire will sell will be Gushers, that will replenish lost electrolytes
All of these products will be sold on Nike. Com which will consist a separate Nike Fire Tab.
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Financial Analysis
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Financial Analysis These figure that were present on the last slide
represent the sales, expense, and income Projections on a 5 & 10 year forecast.
With income projections being the least in the first year, do to high expenses and low target recognition.
Nike Fire projects that in a 5 year period we will increase income from $3.8 million – $19.9 million.
As well as increasing its income profits from $3.8 million - $50.6 million.
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Evaluation and Control Monitoring of Marketing mix: Setting organizational goals will help guide Nike
Fire employees. With employees being a major part of Nike Fire’s
Organization have a positive work environment; that will also offer incentives for their hard work.
An effective marketing control system has four major components, which include, mission statements and objectives, organizational structures to meet objectives, employee performance standards, and adjusting methods.
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Evaluation and Control Plan for Adjustment: Contingency plans are an import factor, making
sure that there is always a fall pack to an organization’s original goal.
Contingency plan’s are important when competing with large competitors like Gatorade and Powerade, because they can always lower prices and can afford the initial lose.
Because of this, Nike will have to do research, to prepare for possible problems, by reviewing market segmentation, and marketing mix to stay relevant in the market.
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Evaluation and Control Anticipated response from Competition: With Nike Fire entering the market, we expect
competing sports drinks to follow. Especially by new companies try to enter the powder drink market.
We will also be prepared that both Gatorade and Powerade will try an eliminate Nike Fire, by lowering its prices.
Because of this we will promote the benefits on why our product has better health benefits than our competition.