Marketing Plan

Read the company's purpose and mission statement.

Company Name: Nike

Idea: A 4-in-1 workout machine incorporating all cardio machines into 1.

Purpose of the Marketing plan.

We introduced this new product in order to show that not only can we combine multiple cardio machines to produce all-in-one, but to also provide this machine to those who might not have the time to go to a gym or are on a tight budget. After doing some research on certain cardio machines, we were able to see the amount of growth in purchasing them. Since COVID-19 pandemic has hit us hard and most gyms have not fully open, we thought why not bring the gym to the home.

This plan will complement our line of apparel products which has been Nike's core business. The sales revenue from this new product will certainly help our bottom line in this uncertain global economic environment. Investment for this machine will see new jobs being created, thus helping communities hard hit by this pandemic. As a reputable global brand, we are very happy to be able to contribute to the well-being of our customers and their economic with this new product. We certainly feel that this plan will be a success because our group that came up with this out-of- the-box thinking showed our creativity when we are being cornered by the Covid-19 crisis. Furthermore it's the first time we ever produced a medical related machine which is also a challenge to us in our marketing. Being Nike, we will always be innovative and accept challenges to be a successful company.

Mission Statement

At Nike our goal is to go beyond the competition so you can go beyond your competition. Known for our inspiration and innovation we have advanced our line in a bold new way. Nike has created transformations beyond apparel with our premium personal training line. Convenient and innovated we at Nike are not only helping you to just do it but now we have the equipment to help you achieve it.

Question:

Based on the company's information above,

1) The situational analysis is designed to take a snapshot of where things stand at the time the plan is presented. External Forces Describe trends, events, conditions that are external (usually uncontrolled by the company) that may impact the company's product(s) or the market. This section must contain an outside reference in each section to support the trends being described. This section describes the external environment; not your product, company, or marketing strategy.

Technologically

Political/Legal