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Nike: Develop the Marketing Strategy and Tactics

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The marketing research approach you would use to develop the marketing strategy and tactics for this new product or service.

New Products

In an effort to continue to promote health and fitness in every home around the world, the Nike Corporation has plans to create a new line of home fitness equipment with the quality that Nike represents. The equipment will be affordable for every household budget and promote family fitness. The products will include weight benches, treadmills, elliptical machines, stair climbers and outside equipment for children such as climbers and a book for parents filled with outside games for children. The idea behind the products is to promote healthy lifestyles by living more active as a family.

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Solution Summary

This solution develops marketing strategies and tactics for a new product or service by Nike.

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I would use a mixed approach of mostly quantitative and some qualitative. The quantitative is going to produce the numbers to see which markets should be targeted the most heavily. Demographics of each country set to have the equipment available will help target where the families are and which families are most likely to buy the equipment. The specifics of the market will include family sizes and the ages of the members of the family. The target markets will also have to be investigated in terms of income ...

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