Please give me a bit to get started....
You are a marketing manager interviewing for a new job at several different firms simultaneously. You expect to be asked the same questions in each interview dealing with what you think are some good new marketing opportunities for each firm to pursue. You know that being well prepared for an interview gives you a better chance of being offered the job, so you decided to study each company where you are interviewing.
Pick any 3 firms to research. Based on Internet research on these companies, write a 500â?"750-word research paper proposing at least 3 marketing opportunities that you would strongly suggest that each firm pursue. In your arguments, include the following:
Describe your reasoning for identifying them as worthy of pursuing.
Categorize each marketing opportunity as low-hanging fruit, home runs, or singles, and discuss why (see definitions in course materials).
Discuss the risk in pursuing each opportunity.
Without actually trying to determine each project's ROE, which would you most strongly recommend implementing, and why?
Explain how the marketing opportunity would reflect upon the firm. Would it have a positive or negative public relations effect on the firm? Would it result in great financial improvements, or only a minor improvement?
Here you go- please let me know if you have any questions, or need clarification, and if you are happy. Good luck!
Triathlons are hot- according to the USA Triathlon site (http://www.usatriathlon.org/about-usat/demographics)
"Triathlon participation in the United States is at an all-time high, following unprecedented growth over the past decade. USA Triathlon can easily track the surge through its membership numbers, which surpassed 135,000 annual members in 2010. To put that into perspective, annual membership hovered between 15,000 and 21,000 from 1993-2000." Nike is currently not addressing this sport, yet Nike is the world's largest athletic shoe and clothing maker. Nike has recently gotten involved with 'action sports' (http://www.nikebiz.com/) but is neglecting the endurance athlete. As such, it would be my recommendation that Nike sell Triathlon clothes for men and women. This would be a natural extension of their sport clothing, which currently addresses the runner, swimmer, and general athlete, but would expand and increase their impact in sports with a new channel.
The clothing idea would be low hanging fruit for Nike since they are already manufacturing and marketing athletic gear and not much adaption would be necessary.
In addition, just as Nike offers golf clubs and tennis racquets to supplement their clothing and shoes in these categories Nike could offer a Nike Tri Bike to triathletes.
The Nike Tri Bike would be a single- not likely to change Nike in a measurable way, but certainly worth adding to the product mix.
The risk for the clothing is extremely small. Nike already manufactures a broad array of sports clothes. This would simply be a twist to their existing business.
The bike has more risk. It would mean a new partnership with a bike manufacturer, and a need to specify components and attributes for the bike. It would involve finding the right supplier, the right product, and the right price point for the proposed customer.
I would market both opportunities under the division "Tri Nike" and gradually add more tri gear: bags, shoes, belts, etc.
Another marketing suggestion for Nike would be after-workout clothes for women that are comfortable, bright, and wearable at home. Nike's existing clothes are great but many athletes that spend a lot of time working out, and even those who wish they did, would like to relax in outfits made by Nike but not workout clothes. Clothes that stretch and give, have color and style, but are appropriate for casual dining, ...
This detailed solution is based upon the scenario that you are a marketing manager interviewing for a new job at several firms. It picts three firms, and proposes three marketing opportunities for each firm to pursue. It describes the reasoning behind the suggestion, categorizes the opportunity as low-hanging fruit, home runs, or singles and why, discusses the risk in pursuing each opportunity, and picks the opportunity most worth pursuing, and the public relations /financial improvements that would be the result of the opportunity . It includes examples and links.