Question 3: The marketing mix and innovation (40 marks, 500 words) Nike's marketing strategy consists of market segmentation, targeting, positioning and the marketing mix. Nike's marketing strategy enables the company to be a successful player in the global market. Using your B207A course material, evaluate how the innovation in Nike's marketing mix elements is used to position the products within the minds of consumers. Your answer should contain the following: 1- Nike's market segmentation and targeting 2. What is positioning. How is it related to the marketing mix? 3. Examples of Nike's marketing mix elements and their contribution to brand positioning