In this scenario, you have been named vice president of marketing for Nike Company. You have been told to choose one of the consumer segments of the Nike Company and conduct an analysis of the buying behavior of that group. After you complete your analysis, you will need to present your proposed marketing strategy based on your analysis to the executive team.
1. Conduct a Market Research based on analysis to the executive team for a Nike Company:
a. Select a consumer segment that your company serves, and describe why this segment is worth pursuing.
b. Identify and qualify research sources that can be used in obtaining information on consumer behavior.
c. Analyze the characteristics of the chosen consumer segment using secondary research.
2. This section is where you will apply the information gained from your market research to your identified market segment.
a. Determine appropriate marketing approaches for your market segment, and explain why these approaches would be effective.
b. Evaluate the approach you used in order to segment the market.
c. Describe the consumer segment you have selected. Explain why they are a good fit for the product.
d. Determine the research needs for this segment, and provide rationale for each need.
3. Consumer Buying Process
a. Define the stages of the consumer buying process.
b. Analyze a marketing strategy that can be used for each stage of the consumer buying process in regard to your chosen market segment.
c. Determine the specific stages of the consumer buying process for which your marketing strategies can be most effective for your consumer segment.
4. Marketing Strategy
The goal of a marketing strategy is to increase sales and stay current with how a market is behaving. Present this strategy in a way that communicates why this strategy will be effective, and defend your claims. Remember that when creating a presentation, you should ensure that the elements used display a level of professionalism and do not distract viewers from the key points being presented.
a. Overall marketing campaign
1. Define the goals of your marketing campaign for your segment.
2. Determine channels through which you will market the product to your segment. Justify your response.
3. Describe the way you will incorporate one-to-one marketing into your overall marketing campaign.
4. Develop a messaging strategy, including sample messaging, for each channel you identified.
b. One-to-one marketing campaign
1. Define one-to-one marketing, and provide an example of how this type of marketing is used.
2. Describe which stage(s) are in the consumer buying process would best lend itself to one-to-one marketing.
3. Determine a one-to-one marketing strategy that would work for the stage you identified and explain why it aligns with your segment.