1. Problem definition Nike is worldwide company that is well known for sports clothes and equipment. Recently, Nike is facing a lot of problem in term of selling. The first one is, increasing competition. There are many competitors out there who are trying to attract Nike customer to their side such as, Adidas, Puma, and others. Nike marketing department is taking a big consideration to be the best among the other. Another thing is the price. Nike prices are considered to be kind of expensive if you compare them to the other brands. Therefore, they should find out what are the best prices that are close o what the customer’s wants and need.
Nike is well known company for clothes and equipment but should they diversify their product. For example, starting to produce casual clothes and shoes for young people and adults or starting to find better way to market their product in order to stay on the top, well that’s the question that Nike should be answered and applying the marketing research process to find what the customers need. 2. Developing an approach Most likely this is the first step in starting to develop a better way to market a product which is to find better way to approach customers.
One of the ways is called sample design which means creating some sample of the new product could be new style of shoes and clothes or new type of equipment that has never been produced before and then let the customers try it and give feedback about whether they do recommend releasing it in the market or not. Another thing is called defining the population which means getting to know who your customers in each country and makeing and applying the market segmentation. For example, segment based on age, gender, and others.
Market segmentation is very important to find out who your ustomers are and which type of product to produce in each country because every country has different mentality towered each kind of product. After doing the market segmentation, there is a step called sample size which means after finding out what are the customers interested in, the company should produce quantity of products that match exactly what the customers want in each country to try it and give their feedback which relays a lot in defining the population as well. . Research Design One of the way to do of doing a research design is questionaries’ which is the heart f survey drawing a sample, hiring training interviews and supervisor’s, programming computers, and other preparatory work is all in service of the conversation that takes place between researchers and respondents. Hiring high quality of employee’s and supervisors is very important to know what the customer want and need because they are the one who is going work closely to the customers and interacting with them .
If the company hired any kind of interviewer’s and supervisors they won’t know how to reach customers. The best way to select high quality of employs is by doing a questionaries’ design by asking and selecting the ight candidates for the Job which has to be done by keeping the question as short as possible, starting with demographic question, and thinking about the way you intend to use the collected data when preparing the questionnaires. In research design, researchers tend to use the secondary data which means trying produce products in the company but they are new to the customers. . Field Work Field work involving a lot of activity to market a product such as, traveling around, interacting with customers, customer survey, and making sure what the customer are interested in. n addition, customer survey is not only involving traveling and asking question , it’s also including online survey. The company should have web page that takes customer opinion and ideas about how to develop products that could satisfy them. Online surveys are usually created as web forms with database to store the answer and the statistical software to provide analysis.
People are often encouraged to complete online surveys by an incentive such as being entered to win prize. Nike should use online survey to gain deeper under stand of their customer’s tastes and opinions. Like traditional surveys, online survey can be used in two basic ways which they are to provide more information to the customers including everything from basic to the social information in order to create specific survey about product to find out how customers are reacting to it. 5.
Data analysis Data analysis is the process of evaluating data by using analytical and logical reasoning to examine each component of the data provided. For example, Nike should analysis and examine each product before thy produce it into the market to insure a total quality product to the customer especially if they are introducing new roduct to the market. This form of analysis is Just one of the many steps that must completed when introducing new product or conducting a research experiment.
Data from various sources is gathered, reviewed and analyzed to form some sort of finding or conclusion. There are a variety of specific data analysis method, some of which include data mining, text analysis, basic intelligence and data visualizing. A good company always keeps tracking and analyzing their product whether it’s new product or an existing product to make sure that the customer is satisfied. To make the data nalysis easier is by taking big consideration of the customers survey because customers survey reflects what need to be analysis and what need to be changed. . Report preparation and presentation In this step company should look and analyze any UN finished data and product or any kind of work that is not has been done yet or correct any kind of defect product and in order to do that the company has to go back to customer survey again that’s one of the reason why customer survey is probably the most important thing to in this process. Products or data can be structured or UN structured for classification ithin the organization.
The term structured refers to the data that is already identified in the company that is good to be delivered to the customers and unstructured refers to the data that need to be fixed. In order to the company to compete and produce what the customer want, is by classifying the products from the right on to the one that need to be fixed and they should classify based on a methodology of columns and rows. Structural product or data are easy to use and fined while unstructured data are hard to find and in order to improve company should make both of them are easy to find and used for any kind of emergency.