Nike to Release Sports Drink
According to Mintel Sports Participation Report (2007) participation in sport is biased towards males under the age of 45 who are categorised in the ABC1 socio-economic grade. Therefore the ideal target market Nike should aim this product at is the young sports enthusiasts between the ages of 15-35.
In order to reach their target market, Nike will segment the country geodemographically targeting the cities with the highest level of sports participation and ABC1 individuals.
The target audience to be used in this DSM strategy is going to be early adopters and opinion leaders, as this product is new to the UK market. The target audience is going to be very similar to the actual target market, as this segment of people will buy the product for themselves. So the target audience is going to be……….
According to Business Week and Interbrand (2007) Nike is the leading sports company on the planet and its infamous Nike ‘swoosh’ is known to people all over the globe .Target current users of Nike products as they will already have an affinity with the Nike brand and more will be inclined to try out the sports drink.
The likely decision process of this target market is a simple one. In most economies and markets buying a sport drink would be identified as a limited problem solving decision; as Solomon (2004) describes LPS as having low risk and low involvement from the consumer. However, in some cases it could be perceived as more of a routine problem solving (RPS) decision due to their being few alternatives on the market to choose from, and thus consumers become easily attached to one brand. Another case in point is that it could also been seen as an extended problem solving decision as certain sportspersons will want to know exactly what ingredients and benefits the sports drink offers and will therefore deliberate for quite some time over the alternatives (Hawkins, 1995).
Nevertheless Nike should still identify this as a limited decision process as it is
In order to reach their target market, Nike will segment the country geodemographically targeting the cities with the highest level of sports participation and ABC1 individuals.
The target audience to be used in this DSM strategy is going to be early adopters and opinion leaders, as this product is new to the UK market. The target audience is going to be very similar to the actual target market, as this segment of people will buy the product for themselves. So the target audience is going to be……….
According to Business Week and Interbrand (2007) Nike is the leading sports company on the planet and its infamous Nike ‘swoosh’ is known to people all over the globe .Target current users of Nike products as they will already have an affinity with the Nike brand and more will be inclined to try out the sports drink.
The likely decision process of this target market is a simple one. In most economies and markets buying a sport drink would be identified as a limited problem solving decision; as Solomon (2004) describes LPS as having low risk and low involvement from the consumer. However, in some cases it could be perceived as more of a routine problem solving (RPS) decision due to their being few alternatives on the market to choose from, and thus consumers become easily attached to one brand. Another case in point is that it could also been seen as an extended problem solving decision as certain sportspersons will want to know exactly what ingredients and benefits the sports drink offers and will therefore deliberate for quite some time over the alternatives (Hawkins, 1995).
Nevertheless Nike should still identify this as a limited decision process as it is