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Signature assignment part a strategic marketing plan

Signature assignment part a strategic marketing plan

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Part A: Strategic Marketing Plan

MKT/574

November 30, 2020

Part A: Strategic Marketing Plan

Company Description

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Nike is a footwear company based in America. It designs, manufactures, and sells

footwear, accessories, and apparel. The company operates in more than 170 countries. The

company serves more than 100 million customers. Its total revenue is about $ 34 billion (Borts,

2018). Some of the competitors of Nike include Adidas, Anta, Reebok, and FILA. The

organization's mission statement is to establish groundbreaking innovations in sports, build a

diverse and creative global team, ensure the sustainability of the products, and positively impact

the communities. The vision statement of Nike is to ensure innovation and inspiration to every

athlete across the globe.

Environmental Analysis (PESTLE Analysis)

Political forces

Nike is experiencing a stable political condition in most of the markets. Most of the

countries in which Nike operates are not negatively affected by elections. The situation provides

a chance for the company to enhance its business in the regions. Secondly, the increasing free

trade policy in many countries ensures proper market penetration to different regions. Some

counties do not have strict regulations, making the company easily adhere to the set laws.

Additionally, governmental support in infrastructural development in developing countries

enables Nike to expand effectively to different countries (Borts, 2018). The political forces give

the firm an opportunity to expand globally.

Economic forces

Economic stability in countries such as the United States, which is the largest market for

Nike products, provides an opportunity for the company to be more stable and enhance its

growth. Rapid population growth in developing countries increases the company's market as the

demand for the products rises (Adam, 2018). The increasing price of raw materials from the

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1 Part A: Strategic Marketing Plan MKT/574 November 30, 2020 Part A: Strategic Marketing Plan Company Description 2 Nike is a footwear company based in America. It designs, manufactures, and sells footwear, accessories, and apparel. The company operates in more than 170 countries. The company serves more than 100 million customers. Its total revenue is about $ 34 billion (Borts, 2018). Some of the competitors of Nike include Adidas, Anta, Reebok, and FILA. The organization's mission statement is to establish groundbreaking innovations in sports, build a diverse and creative global team, ensure the sustainability of the products, and positively impact the communities. The vision statement of Nike is to ensure innovation and inspiration to every athlete across the globe. Environmental Analysis (PESTLE Analysis) Political forces Nike is experiencing a stable political condition in most of the markets. Most of the countries in which Nike operates are not negatively affected by elections. The situation provides a chance for the company to enhance its business in the regions. Secondly, the increasing free trade policy in many countries ensures proper market penetration to different regions. Some counties do not have strict regulations, making the company easily adhere to the set laws. Additionally, governmental support in infrastructural development in developing countries enables Nike to expand effectively to different countries (Borts, 2018). The political forces give the fi ...
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