In Nike Inc. ’s deliberation of where to physically position and place their new product of a sneaker with removable massaging insole, they can focus on making this product available at main flagship outlets and various retail stores across different cities among countries. Nike Inc. can prioritize mainly the various, almost universally-situated retail outlets known as Nike Town, serving as Nike’s premier product outlet amongst district, states, and nations.
Such massive and multi-leveled outlets hold the obvious purpose and reputation of holding a comprehensive merchandise and accessory list and availability. Mall retail stores could also provide the product, but only after great discernment and thought. Nike Inc. must learn to build and at the same time keep the anticipation and buzz for this insole technology. Being that the product is of innovative and break-through orientation, many from sport enthusiasts, athletic foot-wear collectors, and even avid Nike accessorized shoe aficionados themselves may have an already heightened anticipation. Nike Inc. hould identify and foresee the sales requirement enough to provide for the demand of the product but not to the unnecessary point of landing clutter inventory at the said profit nests for Nike’s sneaker insole technology sales and distribution channels.
Availability should be kept and maintained at either par or above par but should not be overdone in terms of in-store stock supply. With all of these, Nike Inc. must keenly consider a sense of consistency among the availability of the product. In terms of development of a formidable promotion strategy for the pioneering technological feature found exclusively first in Nike footwear, Nike Inc. hould build a series of promotional business activities for better and over-all brand and product awareness that would affix the company specifically as a sports athletic brand committed in spearheading in-detail inventiveness among products for customer satisfaction. Thus, truly giving note-worthy distinction to the brand’s reputation, in terms of product quality, ingenious product ideas, execution and indeed also on product promotion, separate from other players of the athletic shoe market and industry.
The selection of promotional tools for a consumer good such as athletic footwear is still rather traditional, but with an originally unique Nike attribute, an edge could be truly utilized, and the creative envelope can be pushed further for endorsement. However, the objectives of the promotion strategy must be concretely identified and should touch as many bases as possible in terms of reaching consumers. As Kotler explains, “For consumers, objectives include encouraging purchase of larger-sized units, building trial among non-users, and attracting switchers away from competitors’ brands” (Kotler et al. 2006, p. 620). A good and strong sales promotion strategy “would have short-run sales impact as well as long-run brand equity effects” (Kotler et al. , 2006, p. 620). Nike Inc. must choose the most fitting means, and with such a revolutionary product, a choice of effective methods can be done. Such activities can range from optimization of handing out free trials at outlets for the customer to acquire firsthand experience on the new product. Since the product is the first of its kind, Nike Inc. ust encourage in-store promotions for these help communicate product benefits, in-person, to the customers. Moreover, ensuring product warranties entails confidence in the product and at the same time conveys a sense of accountability in customer relations.
And, also realizing cross promotions and holding sponsorships, and building independent programs for events with evidently sporting and athletic themes are other options to be included as part of the sale promotion program. This is where resourcefulness and ingenuity can be stretched. Nike Inc. ust incorporate the value and indispensability of the product in the customers’ lives through a gathered experience via events. In addition, with a strong and justly experienced advertising expertise, Nike Inc. ’s product promotion could have greater impact. Such potent pair-up is confirmed by Kotler and associates as they mention that, “Sales promotion seems most effective when used together with advertising” (Kotler et al. , 2006, p. 622). In terms of an initial sales promotion schedule, Nike Inc. must capture interest and awareness from the beginning as the product is launched to the market.
The series of promotional endeavors at introduction should be broadly well-built and wide-spreading yet calculated. In-store promotions should be consistent in every outlet where the product is available. From the product’s launch until its maturity, customers must be well-informed of Nike’s insole technology even as the promotions gradually change. For approximately four months as the product is introduced, Nike’s sales promotions will be simultaneous and at its strongest, reinforced by an ample advertising campaign and also a comprehensive public relation program implementation.
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