Nike is one of the top labels in the world selling footwear all over the globe. Nike is improving its product lines by offering new products with the collaboration and partnership of other big companies as Apple Inc. however, in recent times, Nike Company is going to start up a partnership with Amazon. The market experts predict that Nike and Amazon’s collaboration will remain for more than the next 12 months. Amazon is the world’s largest retailing network that also provides products at the online platform (on its e-commerce retailing website). Amazon will also sell out Nike shoes, joggers, other footwear, digital services and Nike sports products online to attract customers. The partnership will be developed to benefit both companies as with this partnership, the sale of both companies will be increased. Nike ever tried to build a competitive advantage with the variety and quality of their products. While now, the partnership with amazon will also support the company as a competitive advantage because other Nike competitors are only focusing on their supply chain channels. While Nike products will be distributed and presented by the largest retailing network with the vast audience that visits the website daily and places their order. Thus, chances of sales get the increase with this partnership.
Research and development of Nike company present that Nike is focused on improving their relationship in the market practically with their old and new customers. For this purpose, they are collecting information that can build customer equity and enhance the experience of their customers. Customer experience is significant in building equity. Only satisfied customers act as a loyal customers while dissatisfaction enforces the customers to switch to other brands. Marketing research data help out the managers to identify the needs and requirements of the customers towards the Nike products thus they can make changes in their products to satisfy their customers. Information about the customers, in this case, is essential without having an idea about the choices, needs, and preferences of the customer’s company cannot produce the desired products. However, information regarding the initiatives to achieve standpoint also has significant value. While in my perspective, Nike should first focus on improving the experience of old customers and maintaining their information to stay competitive in the market. Then after that, they should work on new customers. From my perspective, useful information for the Nike Company is about its old customer’s choices and need.
Nike is mainly operating in the market to provide shoes and other types of footwear. Nike is successfully growing in the market with these products. Therefore, Nike should expand its product line in the same field. For product line expansion Nike could offer other casual shoes and sandals. They can also introduce bags and t-shirts with the logo of Nike. With customer relationship management, Nike should conduct a survey (it can be on a social media platform or small questionnaires placed at Nike’s outlets) to get the idea from their customers but their opinion. However, Nike can also produce sports products like football and cricket equipment’s as Nike has customers equity in the target market of sports. Thus, in short of expanding the product line, Nike can offer several products, but that must be according to their customers’ requirements.
Nike company is working from very past in the field of marketing. Nike market the products through the different channels of media. They publish their ads in print media and fill up our television screens with their advertisement. Nike is focused on marketing because it believes that through marketing, it can enlarge its audience. While now, social media is a new trend in marketing that is replacing all other marketing platforms. social networking platforms include Facebook and Twitter, which can attract new customers and build customer equity. According to the research primary target market of the Nike company is the young generation. Facebook, as the social media platform, can be useful for Nike as it is one of the most frequently visited platforms at a young age. Young females and males spend the hour daily to scroll down and view the news feed, posts by their friends and chatting with their social circle. Nike can engage them and build relationships with them by posting cute stuff for them on their official page. They can ask for feedback about new products and suggestions for betterment. Other than all, they can offer discount services and games with Nike products’ awards to attract the new generation. Continuous interaction, responding to customers’ feedback, and answering their queries will develop a long-lasting relationship with new customers.