4Ps of Nike

4Ps of Nike

Introduction

4Ps is an important marketing mix analysis tool for organizations. 4Ps of marketing comprise of old 4Ps and new 4Ps. The old 4Ps consist of product, prices, place and promotion while the new 4Ps of marketing consist of people, performance, processes and programs (Constantinides, 2006). These essay discuses the 4Ps of marketing associated with Nike. The paper discuses both the old and new 4Ps associated with Nike.

Old 4Ps

The old 4Ps of marketing consist of analysis of product, price, place and promotion. Nike as a product can be analyzed using old 4Ps marketing mix as follows.

(I). Product

Nike manufactures and distributes a variety of sports equipments that suits different customers’ needs. Nike produces sportswear such as different types of shoes, shorts, jerseys, shocks and hat among others. Nike also manufactures sports equipments such as baseball, football, basketball, cricket, tennis and ice hockey among other equipments used for various sporting activities. Nike therefore has a variety of products that include sporting shoes, apparels and other equipments. The diversity of the products manufactured by Nike makes it serve a variety of customers needs (Constantinides, 2006).   This makes it to be able to satisfy a variety of customers needs.

 

 

(II). Price

Nike offers prices that are competitive in the market. Nike prices are also flexible and depend on the design, market and features of the product. The prices of Nike products are also determined by the targeted customers. Nike employs the use of vertical integration pricing which is aimed at controlling prices and costs at various manufacturing and distribution channels of the company. This ensures that the company is able to control costs and prices of its products a long the supply chain and leads to enhance financial performance and productivity (Vereecke & Muylle, 2006).

(III). Place

Nike as a brand is available in all countries around the world. Nike is an international company with various branches and distribution centers in several countries around the world. Various products of Nike are available in retail shops that are located in various countries around the world. The availability of Nike products in the global market makes it accessible to all its targeted customers.

(IV). Promotion

Promotion includes all types of marketing strategies that are used by organizations. The marketing techniques used by organizations include advertising, product demonstrations, sales promotion, direct marketing and point of sales display among others. Nike uses a number of promotional activities to market its products. Some of the marketing strategies used by Nike include advertisement, sports endorsements, sales promotion and use of point of sale display.

 

New 4Ps

The new 4Ps marketing mix consists of four main elements that include people, processes, programs and performance.

(I). People

People in the new 4Ps reflect internal marketing processes conducted through organizational employees (Goi, 2009). The employees of organizations are important in determining the success of marketing. Nike has a huge number of employees across the world. Nike employs both the skilled and unskilled labor. The employees of the company perform their duties with determination hence ensure that the aims and objectives of the company are fulfilled. The company follows appropriate recruitment channel to ensure that they hire competent people. The recruitment process employed by the company is elaborate and tailored towards meeting their specific needs and objectives. In most cases they collaborate with various human recruitment firms and consultants to hire the best candidates. The hired employees are also trained on regular basis to ensure that they cope up with various technological, market and organizational changes. The internal training also ensures that employees are able to carry out their specific duties effectively.

(II). Processes

Processes of an organization include the creativity, structure and discipline that are included in marketing strategies (Goi, 2009). Nike has efficient distribution, manufacturing and human resource management process that ensures that it remains cost effective and productive in the world market as compared to other rivals firms. This ensures that they have competitive advantages over other firms in the global market hence attracts new customers as well as retain its existing customers (Vereecke & Muylle, 2006).

(III). Programs

The company has various programs that ensure that its operations are not affected. Some of the programs that the company is involved with include sporting activities and corporate social responsibilities programs. These programs ensure that the company maintains close relationship with its customers and various stakeholders. For example, corporate social responsibilities are involved with activities that enable stakeholders of organization to interact with each other. Nike sponsors various organizations and individuals in different activities such as sports. This improves its image in the world market as well as help in the promotion of its products (Constantinides, 2006).

(IV). Performance

The performance of the company is an important element in determining the success and effectiveness of a company. Nike put a lot of emphasis towards improving its financial and non financial performance. The company uses various measurements to determine its performance that includes profitability and productivity. Some of the measurement that the company uses to determine its performance includes the analysis of its financial performance as indicated by its financial statement such as balance sheet and income statements (Vereecke & Muylle, 2006).

Conclusion

4Ps is made up of important elements for marketing organizations products. There are two different groups of 4Ps that are the new and old 4Ps. The new 4Ps consist of people, processes, programs and performance while the old 4Ps consist of product, price, place and promotion. The 4Ps in each of the two categories are important in various organizational processes. Nike as a brand employs the use of 4Ps in the analysis of its brands. The 4Ps according to marketing mix analysis are important in the determination of the performance of Nike.

 

References

Constantinides, E. (2006). The marketing mix revisited: towards the 21st century marketing.

Journal of Marketing Management, 22(3-4), 407-438.

Goi, C. L. (2009). A review of marketing mix: 4Ps or more? International Journal of Marketing

Studies, 1(1), P2

Vereecke, A., & Muylle, S. (2006). Performance improvement through supply chain

collaboration in Europe. International Journal of Operations & Production Management, 26(11), 1176-1198.

 

 

 

 

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