For Nike, their target market includes athletes and mostly young adults. Nike improved their products over the years by making their products more comfortable and lighter which enables consumers to wear their products for a longer period without having to feel soreness on their feet.
What is a target market example
For example, a children’s toy may have boys ages 9–11 as the target market and the boys’ parents as the target audience.
It may also be defined as the consumer segment most likely to be influenced by an advertising campaign.
The target market is also distinct from the buyer persona.
What are the four sectors of the sport and recreation industry?
- Aquatic and Community Recreation
- Fitness
- Outdoor Recreation
- Sport
Who is the intended audience for this story
What Is an Intended Audience in Writing? An intended audience refers to the demographic that writers expect will read and interact with their workーwhether it be an article, research paper, or book.
When reflecting on your intended audience, consider factors such as age, geographic location, culture, and education.
What is Nike target segment
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.
Who is Nike’s target market
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.
The company caters to both men and women athletes equally, and is placing an increasing focus on tweens and teens to build long-term brand loyalty.
How the trends are changing in sport equipment
The global market for sports equipment is significantly driven by the rising sports protective equipment market, which was valued at nearly USD 8,092 million in 2020 and is expected to grow at a CAGR of 5% in the forecast period of 2021-2026 to attain a value of USD 11,479 million by 2026.
What does Nike focus on
Their mission is to “bring inspiration and innovation to every athlete* in the world (*if you have a body, you’re an athlete).”
Like other great branding firms, Nike understands that they are not in the business of selling athletic shoes and apparel.
Who is Nike’s competition
Nike competitors include adidas, New Balance, Skechers U.S.A., Steve Madden and ASICS America.
How are market demographics segmented?
- Age
- Gender
- Ethnicity
- Income
- Level of education
- Religion
- Occupation
- Family structure
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.
What market segmentation does Nike use
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.
What are the 4 factors of target market
This paper has defined four factors for targeting an attractive market, i.e. size of market, growth, stability, and competition that affects the business or firm to target an attractive market is analyzed using rational analysis.
It aims to identify the positive effects of such factors in determining the target market.
What is Adidas’s marketing strategy
Since 2015 the Adidas marketing strategy has been using the slogan “creating the new.”
This is because it wants to become the best brand globally regarding sportswear. Therefore, they use different tools such as digitization to fulfill this objective.
What is the activewear market
The global activewear market size was valued at USD 303.44 billion in 2021 and is expected to expand at a compound annual growth (CAGR) of 5.8% from 2022 to 2028.
The growth of the global market is attributed to the rising inclination towards modern clothing in the gym and for everyday activities.
What is the market size of sportswear in Australia
The overall sportswear market in Australia is forecast to grow at a CAGR of 6.8% between 2020 and 2025 to reach AUD 11.7 bn.
The overall sportswear market in Australia is forecast to grow at a CAGR of 6.8% between 2020 and 2025 to reach AUD 11.7 bn.
What is Jordan’s target market
While this seems like they service a broad market, their main target market is males ages 15-25.
This is because people in this segment are usually involved in high school sports and possibly college as well.
What is demographic segment
Demographic segmentation divides the market into smaller categories based on demographic factors, such as age, gender, and income.
Instead of reaching an entire market, a brand uses this method to focus resources into a defined group within that market.
What type of market is Nike
To commence with, Nike, Inc. is a classic case of an oligopolistic market. This kind of market structure has a few suppliers who dominate it.
The small number of the leading firms accounts for the greater percentage of the market share.
Who is the target market for Jordans
While this seems like they service a broad market, their main target market is males ages 15-25.
This is because people in this segment are usually involved in high school sports and possibly college as well.
In regards to their social media, the brand needs to be more consistent across their various accounts.
What are examples of demographics?
- Age
- Economic characteristics
- Marital status
- Race
- Sex
What are the 5 main different segments for demographics
Demographic segmentation groups customers and potential customers together by focusing on certain traits that might represent useful markets for a business.
What are the 5 main different segments for demographics? The five main demographic segments are age, gender, occupation, cultural background, and family status.
What are 4 examples of demographics
Demographic information examples include: age, race, ethnicity, gender, marital status, income, education, and employment.
You can easily and effectively collect these types of information with survey questions.
Who is your target customer example
A target customer is an individual that’s most likely to buy your product. And it’s a subset of the broader target market.
For example, if your target market is female athletes between the ages of 13 to 25, a target customer could be female athletes in the specific age range of 13 to 16.
What does Nike stand for
Nike. In Greek mythology, Nike is the Winged Goddess of Victory. The logo is derived from goddess’ wing,’swoosh’, which symbolises the sound of speed, movement, power and motivation.
What is psychographics target
Psychographic targeting is therefore essentially about finding out which personality traits and attitudes consumers base their purchasing decisions on.
This approach can be used to develop more differentiated personas than is possible on the basis of superficial socio-demographic classifications.
What is an example of a market segment
Common characteristics of a market segment include interests, lifestyle, age, gender, etc. Common examples of market segmentation include geographic, demographic, psychographic, and behavioral.
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 are demographics and psychographics
Demographics refers to statistical data (age, gender, income, etc.) collected for a particular population.
Psychographics refers to information about a particular population’s attitudes, aspirations, and other psychological criteria.
Who are Gatorade competitors?
- Red Bull
- Schweppes
- Lucozade
- Glucon-D
- Tropicana
Citations
https://www.yieldify.com/blog/types-of-market-segmentation/
https://www.grandviewresearch.com/industry-analysis/activewear-market-report
https://www.thinkwithgoogle.com/future-of-marketing/creativity/marketing-personas-audience-research/
https://coschedule.com/blog/nike-marketing-strategy
