Blog 8 - Nike Mercurial - Segmenting and Targeting Markets

 Segmenting and Target Market - Marcus Folkes

 

Nike will continue its brand segmentation and will attempt to beef  its women's business next year with a broader product line and an extensive print campaign addressing women's issues to break in February magazines and continue through the year and beyond. Nike hopes to build relevance and market share with college females. Reebok stronghold in this area that has become like a stepchild recently, due to Nike's focus on and absolute domination of the teen market. Nike Women's concept shops are also showing up more in sporting goods, specialty and department stores across the country.

Target Markets - Mercurial  

Nike's target market is still active people who enjoy high-quality sporting goods, especially footwear. The company targets top-line revenue growth to $23 billion by fiscal 2011 based on growth in its brand portfolio. It is up from $15 billion in fiscal 2006. Over the next five years, the company anticipates 75 percent of this growth will be made by the Nike brand and will be driven by a consumer defined category strategy. Soccer goods are expected to anticipate 30 percent of that 75. Nike focus on creating premium consumer experiences built on product innovation, brand leadership and elevated retail presence. Nike is targeting further geographic expansion and farther marketing penetration in all regions. Soccer superstars of different countries around the world are sponsored by Nike to promote and advertise the latest cleats. Through disciplined operating management, the company still continues to target long-range mid-teen earnings per share growth.