Brand Building and Management Coursework Assignment Sample

Introduction Of Brand Building and Management Coursework Assignment

The following report is based on brand building and management and its influence on ensuring success of a brand. Brand building is a process that enhances brand awareness, promotes products and services that may help to assure brand connection with a wide range of people. It is also essential to increase the reach of the brand within the highly competitive market. The study will evaluate a brief history of Nike that is a popular American multinational corporation including design, manufacturing, development and marketing and sales. The study will demonstrate key stages of development of the brand that assures high success and growth over competitors. The report will demonstrate brand equity, brand awareness and changing customer preferences that may help the business to flourish amid a wide range of consumers over rivalries. It will demonstrate how the brand has implemented strategies and concepts for staying in the competition and gain advantages over others. It will discuss how the brand can use partnership for enriching scope of better future performance.

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History of Nike

Nike is a popular American multinational organisation that consists of plan, improvement, mechanized and sales of attire, accessories, footwear, services and tools. It has acquired a significant position in the market of sport equipment, and it is the largest supplier of sports shoes and apparel. The brand was founded in 1964 and committed to offer superior quality products to worldwide customers. The headquarters of the brand is situated in Beaverton, the USA. The revenue of the brand is approx 3,740 crores. The company acquired more than 40,000 employees throughout the world that may help the brand achieve a strong position within the market. The company also introduced other brands that also offer sports equipment and materials. Nike Pro, Nike+, Nike Blazers, Nike Golf operates under the supervision of Nike Inc. The brand makes huge investment in research and development that assures better innovation and inventions that help the brand to gain high performance efficiency and deliver best quality products to customers at cheaper rate.

The vision of the brand is driving product innovation and inspiration for athletes throughout the world. The mission of the brand is “Offering best effort for doing every possible activity for expanding human potential that is required for assuring international success”. The objective of the company is to generate more profit and ensure long term viability. The brand is committed to establish a strong momentum for ensuring growing fitness in the highly competitive market.

Nike’s brand health during key stages of their development

There are several reasons thus the brand has gained significant success in the competitive market that may assure better future growth of the brand over competitors. From the initial stage the brand is committed to assure better growth and deliver exclusive quality products to people by inspiring them to get involved in sports and athletes. The primary focus of the brand is focused on generating profit but it also tries to give a better experience to people by offering them better comfort and flexibility. The brand encourages employees to explore their knowledge and expertise for better improvement of brand reliability that helps the brand to expand the business in more areas by following different aspects.

The brand follows “category offence” that helps the brand for reorganising operations in different individual sports; it has a crucial impact for increasing the sales of products of the brand. It focuses on implementing strategies for transforming processes into concepts to deliver efficient quality service to customers for better future expansion (Ahmad and Guzmán, 2020). In the introduction stage Nike launches innovative quality products and promotes the products through advertisements, in this stage the brand gives its best effort to gain a strong position within the market. The next stage is the growth that is the main stage for gaining scope over competitors. In this stage the brand is going to develop skills that are required for obtaining success within the competitive industry. At this phase the brand used to develop capability for increased skills of workers that can be used as competitive advantages of the company that has a crucial impact for assuring future success and efficiency.

In the growth phase customers demand increases constantly and with the help of skilled labour the brand can give more focus for satisfying the requirements and expectations of customers. After growth the next stage is Maturity in which the brand achieved the highest hitting in the market. In this stage the brand gained the highest revenue but people started losing interest in the products of the brand. At this phase the brand must use appropriate strategies to stay constant in the industry and give proper effort to attract customers towards the brand. The last phase of development is declining in which the demand for products reach to the lowest level and the brand has to remove its product from the market (Araujo et al., 2018). At this stage the price of products get reduced and the profit also that may affect the growth of the brand. It reduces the efficiency of a brand for assuring market stability over competitors. The brand should go back to the growth stage after reaching maturity by taking more innovative initiatives so people will be attracted to the brand more efficiently.

Nike’s brand equity of consumer market (segmentation, targeting, positioning)

Nike follows an effective strategy for assuring equity amid a wide range of customers through STP that may help the brand to acquire a target market that the brand should focus on meeting their expectations and requirements by using appropriate implications of strategies so it can gain opportunity over competitors. Through using segmentation the brand will be able to categorise its target market into several achievable and approachable groups. Nike has differentiated its target market into four major groups such as geographic, demographic, psychographic and behavioural. The STP of Nike’s is explained below:

• Segmentation: Nike has classified customers into demographic segments that include people of different age groups, gender and financial status. The brand has customised its products according to the age and gender of customers. The brand mainly focuses on customers between the ages of 15 to 55. It focuses on male, female, kids and it is concerned to deliver superior quality products at cheaper rates that may help the brand to gain competitive advantage over others. The company follows a strategy to build physical stores in every part where it continues its operation. Different countries have different culture and lifestyle habits and it is essential that the brand should implement effective strategies to stay relevant in the market of different countries and gain capability to compete with highly established brands of different countries (Zhao et al., 2020). The psychographic segmentation of Nike helps it to handle requirements and expectations of different customer segments. It enables the brand to explore preferences of every customer in different segments. The behavioural segment of Nike is based on offering clothing and other sport equipment for better comfort. Nike offers distinct quality and innovative products to attract more customers and enhance customer engagement within the brand (Romppanen, 2021). The brand uses social media for assuring product reviews and feedback from customers that has a significant impact on influencing consumers' purchasing behaviour.
• Targeting: Targeting refers to selecting customer segments that are appropriate and relevant for achieving goals of the brand. The brand has classified target customers into three groups that are men, women, kids. The brand designs shoes for running, sports and gym for men. It designs shoes used in yoga for women and offers colourful and comfortable shoes for kids and young boys. The brand gives importance on using attractive colours for assuring better physical appearance that may satisfy customers by offering better comfort.
• Positioning: Positioning is the process of placing a brand within the market amid a large number of competitors. The company uses innovative and premium quality technology that helps the brand to be a market leader within the industry (Edrawmind, 2022). The brand logo, statement “Just Do It” and promotional initiatives that may help the brand achieve magnificent achievements by convincing customers as the most ambitious and innovative brand over rivalries (Lee et al., 2018). Nike has gained a strong position in the market by establishing significant influence in the fashion industry. It is focused to maintain the quality of products that helps the brand to be the top most popular brand for sports products.

Brand awareness

Nike uses different marketing and promotional channels for creating awareness and brand image among a wide range of customers that helps the brand to gain proficiency over competitors. Sponsorships, advertising and experienced focused retailing are three most useful channels that Nike used to spread brand awareness. The brand gets the highest advantage from endorsements by athletes that have significant impact and influence on the success of Nike. The brand makes over a million dollar investment to associate their brand names with popular athletes to build a strong brand image thus a wide range of people will be attracted towards the brand and its products (Kim, 2020). For example, from the period Nike and Tiger Woods created an agreement and started cooperation with the aim of 24% revenue growth per year, the annual sales of Nike Golf has reached $500 million dollars in the first five years of the agreement.

Nike has established its own market within the industry and gained competitive advantage over rivalries that has assured effective future growth and sustainability. It is a customer oriented brand that gives best effort to deliver better comfort and delegating experience to customers worldwide. The brand follows the motto “Just Do It” that helps the brand to gain recognition across the world. Attractive, sleek and productive designs of products of the brand are desired by customers of different age groups and different buying perceptions due to getting the best comfort at reasonable rates (Zhu, 2022). The brand considered it as an experience not only just a clothing line.

This reasoning approach was adopted by Nike when it introduced the Lunar Epic footwear (Araujo et al., 2018). Nike resolute to situate a enormous “footprint” in a crowded place of Manila, Singapore, as compared to conducting an commercial advertisement. Nike established a new stadium with purpose of driving participants outside of personal console area in order to enhance the shoe launching occurrence. The whole metropolitan block was filled by this massive LED running track, which has been designed in precise compliance well with Lunar Epic shoe print. After the first lap, the runner’s personalised avatars are displayed on the LED screens of the 200-metre track. The graphical image appeared on the screen after first lap of runners, enabling players to run in opposition to the clock, pick their own speed, or utilise the image to put forth more attempt. It evaluates the strong loyalty of Nike to motivating people for physical exercise and the ways customers used products of the brand. Nike developed a impressive familiarity for its consumers instead of just presenting advertisements. Nike retains its position of leadership in the athletic wear industry as well as in the footwear sector through this strategy. There are several efficient and professional reasons that are why Nike is one of the most well-known brands around the world.

Change in consumers preferences

As technology and civilisation get advanced customers demand and requirements are also changing accordingly. Customers want better comfort at a reasonable price range that may increase risks of a business for declining profit margin. There are several important factors that may influence consumer preferences and purchasing behaviour that are function, emotion, life-changing and social impact (ABI MUHAMMAD, 2019). Every established brand across the world implements each factor with appropriate strategy and considerations thus they will be able to fulfil the demand and expectations of customers. It helps the brands to create a deeper and effective relationship with customers thus it may help to gain better customer insights.

According to GARANT? (2019), the loyalty model is a detailed understanding of how brands operate and how they compete to gain customer loyalty. Nike is a customer oriented organisation and it is committed to deliver standard and exclusive customer experience that may help to enhance high customer engagement and assure better customer loyalty. Nike membership programme is a distinct type of club where Nike consumers and followers can get special benefits. By joining one of Nike’s four apps—the Nike app, Nike Run Club, Nike Training Club, or SNKRS—consumers can embrace the brand (Yeo et al., 2020).

The primary emphasis of the rewards program is the Nike app. Customers can browse member-only collections here and view their rewards and also messages from Nike. Additionally, the main Nike rewards app maintains a database of member’s behaviour when they use other applications. Customers can scan the app to obtain rewards while they are in Nike stores or at events.

The benefits of the Nike rewards program include priority boarding for sporting proceedings, premature admittance to launching of products, elite commodities, expert guidance on rewards on training and exercise for participating in activities through apps, special offers, and most importantly free of cost delivery.

Being Nike member individuals can access special benefits, which is a massive benefit. Loyal clients have admittance to precedence tickets for athletics and events of Nike. They are certified to shop for associates, exclusive collections. Additionally, they get the benefit of purchasing new commodities and launch of new collection before they are generally available to the public (Diantari. and Jokhu, 2021). Considering that many Nike products are insufficient edition that ultimately recognised as collector's items, dedicated Nike buyers recognise the value of this feature.

The community is another key factor in driving consumer engagement in the Nike rewards program. Customers that enrol get access to free exercise programs, training support, and training resources. They often provide members with inspirational articles and a page where they can follow individuals who share their preferences and give feedback like just a social media app. Additionally, Nike’s marketing encourages community and unity. This is represented in the program’s call to action, which encourages consumers to join through using emphatic verbs like “Belong” and “Join Us”.

Personalisation is a further component of the Nike reward scheme. Getting gifts for birthdays and membership renewals makes committed consumers feel special. Additionally, users have access to their own online Nike store, which includes a large selection of merchandise Nike has chosen for them derived from past purchases and engagement history (Standaert, 2022). Nike has achieved its goal with 61% of customers admitting they will revisit such a brand if they are offered customised product recommendations (Alazzawi, 2019). Each dedicated consumer feels recognized and acknowledged due to the personalisation program, that differentiates them from casual consumers.

The Omni channel experience of the Nike loyalty programme is another compelling feature. Customer’s loyalty programme membership stays active whether customers purchase things in-person, digitally, or through one of their four mobile apps. Both the Nike website and all of its applications require the same login from subscribers. Additionally, while shopping in-store, they can scan their membership profile. Customer’s loyalty will be acknowledged anywhere they decide to shop.

How Nike have adapted to remain relevant

Nike has adopted effective strategies and concepts for staying relevant within the industry that helps the brand to be a leading brand and gain better customer reliability. The main key factor that helps the brand to retain a strong position in the industry is innovation. Innovation helps the brand to launch a more exclusive product range, modify their existing products and implement strategies to deliver instant response to customers that increases brand reliability amid a wide range of customers. By implementing innovation the brand will be able to cater more individuals and encourage them to be a member of the brand by offering greetings and priority (Childs and Jin, 2018). The brand mainly focuses on ensuring sustainability for ensuring international expansion and future growth. The brand recognises the fact that creating more solutions and product customisation will help the brand to gain better scope and opportunity for better future growth and performance (Bose, 2018). Nike gives importance to several factors such as products, workforce, communities, supply chain management, increasing fuel prices and population growth, influence of climate change and availability for natural resources. Nike creates designs and manufactures products based on availability of energy, water, raw materials and so on.

The brand planned to implement a closed-loop business model that is based on the aspect that the brand will reach zero waste by incorporating reuse and recycling of products that may help to reduce the pollution rate by significant ratio (Achabou, 2020). The brand is focused on reuse and recycling of waste in an efficient way for creating new products (Araujo et al., 2018). The brand also must be concerned to use disposable materials thus the products will get disposed of after a time that will not be harmful to the environment. The brand focused on implementing up gradation by following current trends that will help the brand to stay constant in the highly competitive market that may help the brand to gain better competency over competitors.

Additionally it has created technological innovation to deliver more convenient products to customers and give them better experiences. It has launched “Nike + iPod” which is a digital sport accessory that enables users to measure their speed while walking or running (Cicerchia, 2021). The brand launches different types of digital gadgets and accessories that help users for exercise and sports. It uses different social media and channels that may help the brand for better interactions with customers and it creates new face book pages for different products that attract customers towards the brand (Eyada, 2020). Another important aspect that also has significant impact for assuring brand relevance within the market is Nike has associated with many brands and famous sports persons so it can easily expand its reach from regional to national and international level that is most essential for ensuring growing success.

Three recommended potential partnerships:

Collab with an influencer

According to the Edelman’s trust barometer people will easily be convinced and trust any product related information stated or promoted by any famous personality and they get interested about the products and the brand. It helps a brand to attract more people towards the brand. Nike makes interactions with people through using social media platforms that helps to understand the response of people and their expectations and suggestions that may help the brand for better future operation. The brand should use authentic communication so the exact response of people can be collected and that can be used for further improvement (Eyada, 2020). Most famous influencers of Nike are “Michael Jordan”, “Tiger Woods”, “Rory McIlroy”, “Neymar”, “Cristiano Ronaldo, Ronaldinho”. The brand should give more concern on communicating with influencers that may help the brand to promote and endorse products to worldwide customers that may ensure high revenue and profitability and gain more popularity throughout the world as a leading fashion brand.

Partnership with designer brand: Gucci

Nike has made partnership deals with other big giants such as Adidas and Gucci. The brand used effective strategies for ensuring collaboration that may help the brand to offer exclusive quality products at an affordable price range. With the help of creating partnerships with Gucci and Nike the revenue rate is increasing highly that may impact on high profitability that may help to gain better efficiency and productivity. (Bratcher, 2021) Nike should be more concerned with more focus for better collaboration with Gucci and other brands that may help to get involved in standard fashion through innovation and invention of technology and experience that may help to assure better future growth and opportunity (Fontaine, 2020). It can expand its product range by making collaboration with the brand that may help to gain a strong position in the fashion industry.

Partnering with charities to create change: clubs for disadvantaged kids/ women in sports

Nike is not only a profit oriented brand it also inspires people for being involved in sport and athletes. The brand can create partnerships with charitable organisations within the UK and other countries to help disable people, especially young people who are interested and passionate about sports and athletes. It will help Nike to create better community development that may assure better future sustainability (Walk, 2022). With the help of collaboration with charitable organisations Nike can give funding to the organisations for better career opportunities in national and international sports that may create an effective brand image among a wide range of people throughout the country. Besides gaining profit, Nike also implements a sponsor scheme that may help to boost the brand image and increase brand credibility that may help the brand to gain better scope and opportunities so it may help to assure high productivity within the competitive industry.

Final recommendation

Nike is popular sport equipment and accessories retaining brand that may help the brand to offer innovative experience and superior quality products to customers throughout the world. The brand should use better advertising and promotional strategy that may help it to get connected with more people across the world. It can use content marketing strategy that may include videos, blogs, reels based with new and existing products of the brand that may help the company to create effective brand awareness to attract a wide range of people. Most importantly Nike should use popular sportsmen and famous personalities to endorse their products that may help the brand to create a strong revolution within the market and influence the purchasing behaviour of people.

References (HARVARD)

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