Nike Women’s Lifestyle Collection

Preliminary Findings and Limitations

From the market research conducted thus far the new product line that I recommended would broaden the scope of Nike offerings and brings in new consumers and grows offerings for current customers. The organization’s mission is to bring inspiration and innovation to every athlete (If you have a body, you are an athlete) in the world and the vision is to do everything possible to expand human potential (Nike, Inc.). With their mission stating if you have a body, you are an athlete it means no matter the individual when you are putting effort into staying on the move the brand is for you. As more and more people are leading active lifestyles, they want clothes that are comfortable, stylish, and can be worn both to the gym and out in public (Ahmed, 2022). With the gain of athleisure trend a new trend of workleisure is beginning and competing brands like Adidas, lululemon, and Athleta have begun creating products that serve this product need in the market. If Nike decides to create products in the market with their large brand recognition and loyalty could grow their consumer market. The target audience fits within their existing model, however, this product would definitely be specific to women in their twenty and thirties. Which will assist in building sales as men make up most of Nike’s demographic.

The marketing strategy aligns to industry standards as the market research has review the product, price, place, and promotion. With the product, it aligns with the new trend moving from athleisure to workleisure. The price was compared with competitor pricing to ensure that the price for the new product will align with the existing market. The placement of the product will be both in-store and online as this is how the target consumer of millennials and gen z make their purchases. With the promotion of the product using social media influencers as the target market listens to recommendations from these creators. Also, focusing on advertisements on social media will assist in reaching the target audience as most spend their time on platforms like Facebook, Youtube, Instagram, and TikTok. Legally and ethically, there are concerns within content is sponsored content, it is ethical to ensure that the influencer acknowledges that it is an ad to avoid anyone from feeling misled by the content. If the influencer receives a free product for their review of the product that should also be acknowledged. Avoid over-promising and under delivery stating marketing statements that are not entirely true can lead to a bad reputation with customers. The Federal Trade Commission requires influencers to disclose any connections with a brand for promotion its products and if they don’t this can lead to legal issues (Brown, 2023).

Photo reference: Workleisure – 9to5chic

The limitations that I have encountered with my market proposal has been with workleisure being a new trend it was difficult to find information readily available about this new trend. Trying to find data on how much this new trend is really impacting the market was hard. Also, a limitation was fully understanding the company and how the inner workings of the company worked as the way they roll out product regionally made me rethink the way I would roll out the new product line.

References

Ahmed, P. (2022, October 22). How athleisure clothing gained popularity in short time span?. LinkedIn. https://www.linkedin.com/pulse/how-athleisure-clothing-gained-popularity-short-time-span-ahmed/#:~:text=More%20and%20more%20people%20are,other%20types%20of%20designer%20clothing.

Brown, C. (2023, March 16). Legal considerations in Influencer marketing. Glewee. https://glewee.com/legal-considerations-in-influencer-marketing/#:~:text=One%20of%20the%20biggest%20legal,promoting%20its%20products%20or%20services.

Sam Gutierrez, S. (2021, June 15). Gen Z: Social Media and shopping habits. SurveyMonkey. https://www.surveymonkey.com/curiosity/gen-z-social-media-and-shopping-habits/#:~:text=More%20than%20half%20of%20all,products%20due%20to%20social%20media.