Bonsa Tyre
INTRODUCTION
Nike’s marketing strategy rest mostly on a brand image which is favourable and has evolved into a great multinational enterprise over time. The favourable brand image has been kept afloat due to the strong association with the Nike’s logo which is quite distinctive and the slogan “Just Do It” which has been used in advertisement for quite some time. The company has been known to invest heavily in advertisements and brand promotion. However Nike always has to adopt a favourable market coverage strategy for its products. Marketing is an important function that plays a vital role in the running of a business. If the product is not marketed in the right manner and fails to reach the end customer, the business will fail. This is why marketing strategies play crucial roles.
DEFINITION OF MARKET COVERAGE STRATEGY
According to US Legal (the legal destination site for consumers, small business, attorneys, corporations, and anyone interested in the law, or in need of legal information, products or services), market coverage strategy is a method for evaluating the various segments of the marketplace and deciding which segments to cover in the marketing of a particular product. Michael Wiriadenata defines market coverage strategy as a method for evaluating the various segments of the marketplace and deciding which segments to cover in the marketing of a particular product. Market coverage strategy is employed in capturing a planned share of a market.
TYPES OF MARKET COVERAGE STRATEGY
Michael E. Porter, author of the book "competitive strategy: techniques for analyzing industries and competitors" has categorized strategies into 3 generic types, which are: Overall cost leadership; Here the business works hard to achieve the lowest costs of production and distribution so it can price lower than its competitors and win a large market share. Differentiation; Here the business concentrates on achieving superior performance in some important customer benefit
Nike’s marketing strategy rest mostly on a brand image which is favourable and has evolved into a great multinational enterprise over time. The favourable brand image has been kept afloat due to the strong association with the Nike’s logo which is quite distinctive and the slogan “Just Do It” which has been used in advertisement for quite some time. The company has been known to invest heavily in advertisements and brand promotion. However Nike always has to adopt a favourable market coverage strategy for its products. Marketing is an important function that plays a vital role in the running of a business. If the product is not marketed in the right manner and fails to reach the end customer, the business will fail. This is why marketing strategies play crucial roles.
DEFINITION OF MARKET COVERAGE STRATEGY
According to US Legal (the legal destination site for consumers, small business, attorneys, corporations, and anyone interested in the law, or in need of legal information, products or services), market coverage strategy is a method for evaluating the various segments of the marketplace and deciding which segments to cover in the marketing of a particular product. Michael Wiriadenata defines market coverage strategy as a method for evaluating the various segments of the marketplace and deciding which segments to cover in the marketing of a particular product. Market coverage strategy is employed in capturing a planned share of a market.
TYPES OF MARKET COVERAGE STRATEGY
Michael E. Porter, author of the book "competitive strategy: techniques for analyzing industries and competitors" has categorized strategies into 3 generic types, which are: Overall cost leadership; Here the business works hard to achieve the lowest costs of production and distribution so it can price lower than its competitors and win a large market share. Differentiation; Here the business concentrates on achieving superior performance in some important customer benefit