In atleast 500 words Imagine that you are the Marketing Chief Officer, think and propose the marketing strategy for Nike, following below main points:

- What will be the main segments that you will target?

- What product innovation (like for example new products to launch, new features to

existing products, etc) would you consider for your targeted market?

Nike Case study When Phil Knight, a former college track athlete, and his former coach, Bill Bowerman, started a shoe company in 1962, they couldn't have known that they would ultimately create one of the world's most valuable brands. Originally known as Blue Ribbon Sports, the company started out as a distributor for the Japanese shoe maker that today is known as Asics. It wasn't until 1971 that Blue Ribbon changed its name to Nike, after the Greek goddess of victory, and started designing its own shoes. Nike focused on providing affordable, high-quality running shoes designed for athletes by athletes. To keep the cost of the shoes competitive, the company outsourced its production to lower-cost manufacturers in Asia. Through this combination of innovative design, a commitment to serious athletes, and competitive prices, Nike built a cult following among U.S. consumers. Although Nike had a great product on its hands, the company knew that deft management was vital to the growth of the brand. Central to the company's branding was its belief in a "pyramid of influence," with the preferences of a small group of top athletes influencing the product and brand choices of consumers. Following through with the theme of victory embedded in its name, Nike in 1972 signed Olympic track star Steve Prefontaine as its first spokesperson-the beginning of a long line of accomplished athletes who have touted the company's products. One of Nike's greatest successes with this approach came in 1985 with the signing of rookie basketball player Michael Jordan as a spokesperson. Jordan was still an up-and-comer, but he personified superior performance. Thanks to Jordan's meteoric rise over the next few years, Nike's bet paid off as consumers clamored for the Air Jordan line of basketball shoes with the distinctive Nike swoosh. As one reporter stated, "Few marketers have so reliably been able to identify and sign athletes who transcend their sports to such great effect." In addition to associating itself with the best athletes, Nike also showed a talent for creating iconic advertising campaigns. In 1988, Nike aired the first ads in its influential "Just Do It" ad campaign, which subtly challenged a generation of athletic enthusiasts to chase their goals. The slogan was a natural offshoot of Nike's attitude of self-empowerment through sports. While expanding overseas, Nike adapted its marketing to face new challenges. The company quickly learned that its U.S.-style ads were too aggressive for consumers in Europe, Asia, and South America and adjusted its tone. Furthermore, it needed to tailor its marketing for different