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Name: Instructor: Course: Date: Company Name: Nike Vision: To help the customers to thrive in a sustainable economy where people, profit, and planet are in the balance. Mission: To bring inspiration and innovation to every athlete in the world. Who is our key competitor during Practice Around? Why? The key competitors include Adidas, Puma, Reebok, and Puma. The reason is that they focus on the same market segment. Also, they have been able to develop a global brand, an aspect that enables them to establish their business in different parts of the world. Which is my Market Segment? Who are my Target Customers? My target market is young people and athletes. Young people have a disposable income which they are willing to spend on high-quality products that meets their tastes and preferences (Porter 67). Also, with the growing sporting industry, athletes offer the company an opportunity to grow and maintain their revenues despite the growing levels of competition in the local and international market. What strategy should we adopt? Cost Leadership Styling/Quality? The products should meet customer expectation by being of high quality. This will prevent competitors from penetrating the market. Production Strategy? The company has outsourced its production thereby, making it easier to take advantage of cheap labour and raw materials. Distribution Strategy? The company has contracted independent distributors in order to reach customers from different parts of the world. Pricing Strategy? Pricing strategy will play a significant in enabling the company to take over the cost leadership position. Having diversified the operations to different areas to take
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