Marketing Mix Project Essay Example | Topics and Well Written Essays - 1500 words

Marketing Mix Project - Essay Example Another important criterion that needs to be highlighted is that the target group has to be clearly examined. The price and the product provide some directions in recognizing the right audience. Choi, et al., (2014) defined marketing mix as the set of strategies that a company applies to promote and advertise its goods or services. It is the crux of marketing process. It has to be reviewed constantly to meet the changing requirements. The changes in the external environment and changes within the firm necessitate alterations in the mix. There are 4Ps which typically constitute a marketing mix. They are Place, Price, Promotion and Price. However, it has started including other Ps as well like positioning, people, packaging and politics. Nike, Inc. is a renowned designer and manufacturer of footwear, services, accessories, apparel and equipment. It is an American Multinational Corporation established in 1971. It was earlier founded by the name Blue Ribbon Sports by Bill Bowerman and Phil Knight (Gordon, 2012). Product mix is defined as the total variety of goods or services offered by the company. Nike Inc. provides a wide range of products like athletic footwear like running shoes, cleats and apparels that include jerseys, layered clothes, shorts, sports equipments for wide range of sports like baseball, tennis, ice hockey, soccer, cricket, basketball, golf, athletics, combat sports, cross training for men, women and children, etc (Huang & Sarigà ¶llà ¼, 2012). It also manufactures shoes for other outdoor sports and activities like cycling, volleyball, wrestling, cheerleading, auto racing, aquatic sports, etc. Apparels also include urban fashion clothing. The first line of shoes released by Nike, Inc. in 1987 was Nike Air Max. Air Huarache, an additional line of products, was introduced in 1992. The new lines of goods that are recently added are the Nike NYX, Nike 6.0 and Nike SB shoes especially designed for