For Nike, its market segmentation involves four categories – geographic, demographic, psychographic, and behavioral.
For Nike’s demographic segmentation, the firm included various age groups, gender, and the customer’s financial status.
Who are Nike’s target market segments
Nike’s target market includes a demographic of those aged 11-45 but put a greater emphasis on teens to cultivate long-term customers.
Their psychographic segment includes active, fashionable individuals that consider physical activity as part of their lifestyle.
What is Nike Method of segmentation
Demographic segmentation is a factor used by Nike to target individuals according to their age, life-cycle stage, gender, occupation, and generation.
Although with apparel and sports the market can be broad, for the most part Nike primarily targets consumers who are between the ages of 15-40.
What company uses market segmentation
Kellogg’s utilizes market segmentation to identify different groups based on demographics, behaviors, and psychographic segmentation.
Which market targeting strategy does Nike mainly use
Nike’s target audience is for people who regularly exercise and for those who will wear for fashion trend as it goes well with modern-day clothing.
Nike has classified their target customers mainly into three product groups, men’s products, women’s products and kid’s products.
Does Nike use direct marketing
Nike Inc. uses direct marketing to promote new products to target markets. These new products are usually heavily advertised.
Is Nike a niche market
While maintaining its identity as a niche manufacturer, Nike has been able to make itself a multinational powerhouse for all things sport.
Knight and Bowerman first identified their target consumer and, through strategic marketing and growth, have been able to bring their products to the mainstream.
Is Nike a mass market
Nike has a mass-market business model which caters to sports enthusiasts. The product categories are broadly shoes, sports apparel, and accessories.
Their first products were running shoes, given that Phil Knight was a runner himself.
How does Nike market their products
Nike’s main source of promotion is advertisement and sponsorships. The company does advertisements involving high-profile celebrities and athletes of different countries.
Some celebrities that promote Nike’s products are Serena Williams, Christiano Ronaldo, Mo Farah, Kunal Rajput, Rafael Nadal, and LeBron James.
How does Nike use psychographic segmentation
Nike also uses psychographic segmentation to target individuals with specific lifestyles and personalities. To use this variable effectively Nike must target individuals who enjoy sports.
Whether it is playing, watching or simply talking about sports, these activities shape personalities and lifestyles.
What is Adidas market segmentation
Adidas separates its market into multiple categories depending on different consumers’ choices and likings.
Market segmentation can be separated into different segments of consumers depending on demographic segmentation, geographic segmentation, psychographic segmentation, or behavioral segmentation criteria.
How does Nike reach its target market
Nike achieved its legendary status through innovative product development and marketing tactics, emotion-based messaging, celebrity endorsements and sports sponsorships.
The brand also invests heavily in advertising.
What companies use market segmentation?
- Volkswagen
- Coca-Cola
- Kellogg’s
What is the market segmentation
Market segmentation is an extension of market research that seeks to identify targeted groups of consumers to tailor products and branding in a way that is attractive to the group.
What is Nike’s business strategy
The idea is to target customers with unique needs. In applying this, the business strategy of Nike could involve focusing on markets with limited competition.
Such markets are the basis of a competitive advantage. The firm could either charge a premium or keep the product price below the industry average.
What is Nike’s biggest market
Although sales in non-U.S. markets have grown considerably over the years, Nike’s core market remains the United States, as approximately 40 percent of the company’s global revenue was made in this country alone.
What makes Nike’s focus on the customer different from most companies
To put it simply, Nike doesn’t just sell products. It tells customers what they wantand then makes that value readily available.
The key is Nike’s ability to cultivate customer trust.
What is market segmentation definition and examples
Market segmentation is a process that consists of sectioning the target market into smaller groups that share similar characteristics, such as age, income, personality traits, behavior, interests, needs or location.
These segments can be used to optimize products, marketing, advertising and sales efforts.
How consumer markets are segmented
Consumer markets can be segmented using a multitude of variables from four main categories: Demographic: age, years of education, income, family size, gender, race, marital status.
Geographic: Rural/urban, climate, radius, neighborhood, nearby resources and amenities.
What is an example of market segmentation
Common examples of market segmentation include geographic, demographic, psychographic, and behavioral. Companies that understand market segments can prove themselves to be effective marketers while earning a greater return on their investments.
What are the 4 types of market segmentation
Demographic, psychographic, behavioral and geographic segmentation are considered the four main types of market segmentation, but there are also many other strategies you can use, including numerous variations on the four main types.
Who are Nike’s main customers?
- Women
- Young athletes
- Runners
How do you do market segmentation targeting and positioning?
- Segment your market
- Target your best consumers
- Position your offering
What are the characteristics of market segmentation?
- 1) Identifiable
- 2) Substantial
- 3) Accessible
- 4) Stable
- 5) Differentiable
- 6) Actionable
What are the 6 main types of market segmentation
This is everything you need to know about the 6 types of market segmentation: demographic, geographic, psychographic, behavioural, needs-based and transactional.
What are the three market segmentation strategies
Segmentation can be approached in three main ways: firmographic, behavioural and needs-based.
Why do airlines segment their market
To effectively tailor their products and services to the needs of particular customers, airlines segment their passengers into different groups.
The process of segmentation seeks to identify Page 2 2 groups of customers who share common characteristics.
What is market segmentation and basis of market segmentation
Market segmentation is a process of dividing the market of potential customers into smaller and more defined segments on the basis of certain shared characteristics like demographics, interests, needs, or location.
What are Nike’s psychographics
Psychographic Nike utilizes psychographic segmentation to target customers based on lifestyle, personality, activities and interests.
Specifically, Nike aims to active individuals who take pleasure in sports, gym regularly, are athletes and passionate with sports, which tend to be part of their life.
What are the 3 psychographic market segmentation
There are five psychographic segmentation variables on the basis of which homogeneous segments can be prepared for proper research – Personality, Lifestyle, Social Status, AIO (Activities, Interests, Opinions), and Attitudes.
What is Behavioural market segmentation
As the name implies, behavioral segmentation in marketing is a method of grouping customers by their behavior patterns.
These behaviors may relate to the customer lifecycle, such as getting married, having a baby, or buying a home, or to seasonal patterns like holiday shopping and summer vacations.
References
https://iide.co/case-studies/marketing-mix-of-nike/
https://www.edrawmind.com/article/nike-market-segmentation-targeting-and-positioning.html
https://report.adidas-group.com/2021/en/consolidated-financial-statements/notes/additional-information/36-segmental-information.html
https://www.yieldify.com/blog/types-of-market-segmentation/
