The role of data is important for every business organization. Nike increases its sales in the worldwide market for athletic shoes by utilizing various data and information tools, such as the Internet. Because it was one of the first firms in its sector to invest money in internet commerce, Nike is regarded as a pioneer in the field of electronic commerce (also known as e-business). Because of this approach, Nike now has a significant advantage over competitors like Adidas. Advertising and internet sales in developing nations such as Russia, Indonesia, and Brazil may bring in significant revenue for Nike if the company were to invest there. IT, which is an abbreviation for "information technology," refers to the various techniques and applications that assist individuals in developing novel approaches to resolving issues, completing responsibilities, and managing communication (Kushwaha, Kumar and Kar 2021).
They can have a better idea of how their information appears with the help of the Nike Plus tool. Customers are instructed to purchase all of the required components in order to derive the greatest benefit from Nike's data display. The components of this system are a tracking device and a sensor. The sensor is used to monitor the environment. The monitor is designed to record data such as the distance traveled, the pace at which it is traveled, and the number of calories that are expended.
Figure 1: Role of Data
(Source: Shah and Murthi 2021).
A connection is established by way of the tracking device, which in turn makes it possible to acquire all of the information that was obtained. Nike creates sports timepieces that are compatible with its Nike Plus system and can be purchased separately. Because the data from the monitor is relayed to the tracking device in real time, it is simple for the user to obtain essential information even while they are engaged in physical activity such as jogging. People are able to simply keep track of their development and share the results with the larger community because to the accessibility of online storage.
The ability of Nike Plus to facilitate connections amongst customers is the primary driver behind the company's adoption of the platform. Runners working for Nike have had the opportunity to become acquainted with one another and build a community through the use of the Nike Plus app. The individuals who are a part of this community monitor their personal progress and discuss the findings with the other participants. When Nike Plus sensors are utilized to record each runner's run, a vast amount of data that encompasses a wide variety of users is produced. This collection of data sets can serve as a helpful instrument for enhancing operating procedures and achieving higher-quality performance outcomes. In a business sense, Nike makes use of the information it obtains from the Nike Plus program in order to provide its clients with things and goods that are more likely to interest them and to enhance the amount of demand in the market.
The production of athletic apparel and footwear is the primary focus of Nike. Their products enjoy widespread recognition all around the world. The business caters mostly to customers who have an interest in athletics, although it also produces some items for fashion-conscious consumers in limited quantities. It does this by leveraging popular athletes and social media platforms to attract new clients and spread the word about how well-known its products are. The fact that the company relocated to China demonstrates how much more expensive it is to manufacture items in developed countries as opposed to developing economies is that the company migrated to China. On the other side, there have been concerns expressed regarding the amount of money that these businesses pay their employees. Nike believes that having talented employees, a diverse workforce, and an inclusive culture are essential to the company's success in the present market (Kushwaha, Kumar and Kar 2021).
Due to the ease with which a huge number of people could become associated with the brand thanks to the Nike Plus program, there was a significant increase in both the level of awareness of the brand and the level of participation in the running community. Because it activates both the thinking and feeling areas of the brain in a short amount of time through the use of imagination, Nike Plus is a helpful tool. Nike provides its customers with the ability to showcase information in a way that piques people's interest in the achievements of others who otherwise might not have been brought to their attention. In its most basic form, Nike Plus is a sophisticated marketing platform. It was initially conceived as an application for the visualization of data, but it quickly evolved into a device that assists the company in strengthening connections with customers and enhancing communication (Shah and Murthi 2021).
However, Nike took the strategic decision to look at this as a positive opportunity to get the brand's name out there; therefore the company did not take him off the court. As a result, the firm came to the conclusion that it would be in their best interest to pay for all of Michael Jordan's fines so that he could continue to wear their shoes. Therefore, rather than viewing this as a setback, Nike decided to convert it into a positive experience. Because they have an attractive style and are backed by a very skilled basketball player, Nike's sneakers have become a symbol of defiance. This is especially true in the basketball world. A paradigm shift has occurred as a result of this. People witnessed Jordan's unconventional style of play, which was characterized by a lack of respect for the rules that were already in place, and this is what ultimately led to their admiration and support of him. Nike initiated a marketing campaign for the Jordan 1, which resulted in increased awareness of the shoes across the entirety of the United States. This event has been incredibly beneficial for Nike, as a direct result of which, sales of Air Jordan 1s have significantly increased and have continued to do so even after the event itself took place. One of the things that contributes to the success of Nike's marketing strategy is the fact that the company's logo has retained its original form throughout the years despite the abundance of symbolic meaning it conveys. According to business and marketing theories that have been around for a long time, the significance of a company's logo lies in the fact that it provides clients with a visual representation of the brand that they are able to keep in their minds. The swoosh emblem that Nike uses has garnered a lot of attention over the years because of the connotations that are associated with it. Product analytics is an essential component in Nike's efforts to enhance the user experience of its e-commerce website and encourage more people to make purchases online. In point of fact, there is evidence to suggest that the utilization of product analytics has been associated to a significant improvement in brand profit margins; specifically, an increase of over sixty percent has been recorded (Shah and Murthi 2021).
Figure 2: Nike Data collection
(Source: Kushwaha, Kumar and Kar 2021).
Nike is able to gain a lot of knowledge on how people use their products digitally because to the product analytics software that they have, which enables them to figure out what makes people interested in their goods or not interested in their goods. As a result, companies are able to gain new insights into their clientele, gain a deeper understanding of how website visitors interact with their sites, and increase their customers' overall satisfaction with their offerings. The transition from mechanical and analog electronic systems to digital electronic systems is what is referred to as the "Digital Revolution," which is also referred to as the "Third Industrial Revolution." The 21st century marked the beginning of this process of transition. "Electronic Commerce," sometimes known by its acronym eCommerce, is a product of the ongoing transformation brought about by the rise of digital technology. On the internet, people are able to buy and sell a wide variety of items, including books, gadgets, apparel, software, and furniture, among other things. The increased use of mobile devices all over the world has had a significant impact on the expansion of eCommerce due to the fact that it simplifies and expands the scope of online shopping and business transactions. Because electronic commerce has a great deal of untapped potential, a great number of large companies have been motivated to capitalize on this opportunity by launching their own e-commerce platforms in order to market and sell the products and services they offer. There are more companies besides Nike (Mariani and Wamba 2020).
Nike's marketing plan was more effective and their return on investment was higher because they used analytics to figure out how to best use their resources. Using data to make marketing choices has increased the return on investment by 20%. Also, their marketing efforts worked better, as shown by a noticeable 10% rise in customer participation compared to their previous marketing efforts. Nike kept an eye on a number of important factors, such as return on investment, how well marketing strategies worked, and how engaged customers were. By keeping a close eye on key performance indicators, Nike was able to figure out how well their marketing efforts were working and make any changes that were needed. Nike's research showed that their target audience was more likely to interact with the company through social media. Because of this discovery, they were able to change how they spent their marketing budget and focus on social media sites. This led to a better return on investment and a more effective way to market (Kushwaha, Kumar and Kar 2021).
As an example, Nike started a social media campaign on Instagram and Facebook. They did this by using visually appealing content like pictures of their products and recommendations from famous athletes to attract their target audience. The above campaign was a big hit, as it got 25% more engagement than the organization's previous social media efforts. Also, the campaign stated above led to a noticeable 10% increase in sales, which shows how effective it is to use analytics to guide their marketing strategies. Nike's use of analytics in digital marketing is a great example of how well data-driven methods work. Nike was able to improve their marketing efforts and meet their organizational goals by using tactics that were based on data. Companies like Nike can use analytics to make sure that their digital marketing efforts are both effective and cost-effective. This leads to more customer contact, conversions, and return on investment. Over the course of many years, the name Nike has become strongly linked to sports. The path that Nike has taken is fascinating. At first, the company sold shoes made by Onitsuka Tiger in the United States, where Adidas and Puma were the most popular brands. But since then, Nike has become the best sports brand in the world, with success that has never been seen before. Still, it's important to remember that Nike's success did not come without problems, especially when it came to social issues like slavery, human trafficking, and sweatshops. These problems could hurt a company's basic ethics and ability to stay in business. The path that Nike has taken is fascinating. At first, the company sold shoes made by Onitsuka Tiger in the United States, where Adidas and Puma were the most popular brands. Over time, Nike has become the best sports brand in the world, gaining a level of success that has never been seen before. Still, it's important to remember that Nike's success did not come without major social problems, such as slavery, human trafficking, and sweatshop issues. These problems have the potential to hurt a company's basic honesty and put its general success at risk. This study paper looks at how Nike markets its products, with a focus on how it uses creativity and innovation and how it has changed to become more digital. It also looks at how Nike overcame ethical vows and problems to become the market leader it is today.
Under the direction of Phil Knight, Nike has shown great leadership. He has set up a strong set of core values and beliefs for the company. Because of this, Nike has become a leader in the clothing industry. Research and development (R&D) is an important part of marketing, and the company puts a lot of money and effort into it. Nike has noticed that the clothing market is always changing, which means that it needs to change to meet the needs of its customers. Research and development (R&D) work done by the brand makes it possible to release new and more advanced goods every year, faster than its competitors can. Nike's efforts to make its shoes lighter and come up with self-lacing technology show how committed it is to innovation. This has always pleased customers, who choose Nike over other brands. Because of the above situation, the company is able to get a much larger share of the market than any other company, hitting a 50% market share that is much higher than its competitors (Kushwaha, Kumar and Kar 2021).
Even before the widespread use of the internet, Nike was already a widely known brand. The success of the product was helped along by advertisements broadcast on television as well as the support of well-known figures like Bo Jackson. Nevertheless, when the new millennium started, Nike went through a significant transition. They required the ability to be adaptable in order to keep up with the times. Because so many people currently use platforms like Facebook, Instagram, and Twitter, Nike recognized that it needed to have a presence on these platforms. They updated themselves, and as a result, they garnered a wider following among the youth culture. Because of this, Nike is a more diversified and successful company in the present period. Because of the abundance of information that was made available by this new community, Nike was able to track customer activity, interact with other people online who are as passionate about Nike products, and establish deeper connections with its clients. Nike's digital efforts encompassed a number of different aspects, including an emphasis on narrative, an effort to present the brand as genuine, an effort to learn about and communicate with customers on their own terms, the creation of a product that was both original and simple to share, and the encouragement of product customization. Nike makes use of a diverse set of marketing methods in order to bring in new clients and to keep the ones it already has. The organization uses the various social media platforms as a tool to keep its followers up to date on significant events through the utilization of this information. The Twitter account has a follower base of approximately 8.1 persons, while the Instagram account claims a sizeable following of approximately 110 million users worldwide. The organization has a considerable presence across a variety of platforms, and the examples mentioned above serve as clear indications of the significant influence it possesses in the field of sports. Because the business makes use of these accounts, it is able to participate in dialogue with customers, and as a result, it is able to get useful input regarding product reviews, complaints, ideas, and opinions voiced by customers. Content marketing is the term that most usually refers to this particular component. On the other hand, Nike has been subjected to a significant amount of criticism about the compensation offered to their employees who work in these areas.
This phenomenon, in which a corporation earns huge profits totaling to billions of dollars while its staff receives small remuneration, is frequently considered as a contemporary expression of enslavement. This is because the phenomenon involves a corporation generating substantial profits while its workforce receives meager compensation. These volumes are not sufficient to improve the overall quality of their lives. As a direct consequence of this, they continue to fall below the federal poverty line. To ensure continued patronage from satisfied customers in this industry, the company needs to seriously consider putting into action a tactic that is more efficient (Mariani and Wamba 2020).
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