Site Title

Nike In a Smart world

From industry- leading apparel technology to comprehensive process of designing quality footwear for sports and casual living has been part of Nike’s brand for years. The Company is one of the world’s recognizable brands, it has a reputation of innovating for performance and style and embracing the power of quality and simplicity, athletes and people are drawn to the company’s mission “to bring inspiration and innovation to every athlete”. I decided to research Nike due to its forefront of innovation and willingness to collaborate with athletes, influential designers and celebrities and these collaborations resulted in some iconic and sought-after products but most importantly Nike is committed to believing in human rights laws. I believe the segment of people that needs are unmet are the elderly and toddlers, these people do not seem to be a target group in its marketing strategy.

No more Lost Wallets and phones

Smart world needs a Nike smart wallet/purse that would be compatible with iOS and Android devices with find me Bluetooth device. This device would serve a good purpose when using your cell phone to find your misplaced wallet/purse or using your wallet to locate your misplaced cell phone location, incorporation of such smart technology would be helpful for older generation with short term memory loss and every individual interested, this means your new Nike purse or wallet is configured to your cell phone. There may be few items on the market like rechargeable cards that snaps in your bag to find it when lost but nothing like implanted in the wallets/purse with its software on cell phones. Nike has been at the top of their game when it comes to marketing for decades. Their iconic slogan, “Just Do It,” is one of the most recognizable phrases in the world. They have also employed a variety of strategies to reach their target audience. (Benusi, n.d.). With this wallet/purse having such a swoosh logo, its features would include, find my cell phone, LED screen with owner’s telephone number and picture, wallet or bag, showing location service and saving daily location routes.

The Patronage

The audience for this product would be the male and female ages between 50-90, these are Nike’s forgotten audiences that are usually forgetful and finds it difficult to remember where they place their phones or wallets/purses, Nike concentrates a lot on athletes, it’s about time the older generation would have a fair portion of Nike’s product, These audience have no such device in existence, since these people are older Nike can partner with Medicare or Medicaid and  offer it in volume at a reduced price for seniors. When launched, the product would be popular because there is no such product.

The Competition

There are other competitors for Nike like Adidas, Reebok and a few but this is going to be a new introduced product and not advancing on older product so Nike being a giant among the competitors it would be an additional product to service a new audience and there would be no such competition here, the target audience are elderly it’s a way of introducing a product to include ignored audience, the pricing should be affordable to the audience since most of them are retired and only dependent on their social security income monthly

External Factors

There should be a primary and secondary research on the product to determine if it fits the audience and their interest in the product, this would include surveys and feedback after interviews and secondary would include researching market if there is any product similar, Compliance with government laws, market data and health effects of the products.

Conclusion

After identifying information and determined Nike’s new product would be launched in US market, I have leverage and confidence to understand that I have no or less competitors so my concentration would be in primary research to have quantitative and qualitative research to understand the target market well, their behavior, experiences, social realities and test hypothesis of the analyzed data. I believe Nike’s brand introducing such product would sell and be beneficial to the selected audience

References:

Benusi, (n.d.). Nike: why they’re the Best Brand out there. Education. https://vocal.media/education/nike-why-they-re-the-best-brand-out-there

Deschamps, A. (2024, November 11). Why Nike Stands Out as the Best Brand, Employer Branding trends.com. https://www.employer-branding-trends.com/blog/why-nike-stands-out-as-the-best-brand.