The role of retailing is an important part of business and has a huge impact in our daily lives; whether it's furniture, electronics, cars and any other services and goods that can be utilized by the ultimate consumer. Before a business can reach the ultimate consumer they must apply a retail strategy in order to mouse trap the target market. Retail strategies are a composite of the six P's which is a retailing mix.
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| These are the 6 P's |
Nike Air Jordan as a company focuses on 4 major components of the 6 P's, these components are Product, Price,Place and Promotion focusing on this retail mix brought Nike to where they are today and that is a booming sports apparel company.
Product:
Product is very important to the Nike company because they carry the largest amount of different products such as footwear, clothing and sports equipment. Nike carries over 5 major brands including Jordan, Converse, Umbro, Cole Haan and Hurley International.
Price:
The strategies that Nike uses to price their products is mostly based on the compositions of the Brand , being on top of the competitors, and Nike has always been. Nike's charges high prices or premium prices for it's product because of brand and the quality of the products which it offers.
Places:
Nike Air Jordan sneakers are carried by multi-brand stores and the exclusive Nike stores across the globe. Nike sells their product to stores across the U.S. and in almost 200 countries around the world. In the international markets, Nike sells its products through independent distributors, licensees and subsidiaries. Independent distributors need not adapt to local pressures because the 4P's of marketing are managed by distributors.The location where a company places its products is key, if a company places its products in the wrong hands the product might not sell as well as it should if it is not being marketed right. Nike sneakers are being sold in many stores where the fit is right such as Foot Locker, Jimmy Jazz, Hyperactive, Dr. Jays and Nike's own stores such as Nike Town and Nike Outlets in the United States and all over the World.
Promotion:
Promotion is largely dependent on finding a convinient store locations. It also account of targeted advertising in the newspaper and creating strategic alliances. Nike Air Jordan has a number of famous athletes that serve as brand ambassadors. These ambassadors are apart of a team called "Team Jordan".
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