Nike Fuel Band Assignment Example | Topics and Well Written Essays - 1000 words

Nike Fuel Band - Assignment Example As such, this paper seeks to describe how Nike Fuel Band is currently utilizing each of the components of the IMC mix mentioned above. Nike, a giant in manufacturing and selling athletic and other sporting related products has announced a new and more colourful Nike+ FuelBand SE that will be available on 6th November 2013. According to Berg (2013), â€Å"this product enables users to track individual sessions and see the points earned in real time. The band is still largely based around Fuel points.† The image below shows how the fuel band looks like. Given that this is a new product in the market, Nike ought to utilize the IMC Promotional Mix in order to successfully market the product to the targeted audiences. Advertising is a very effective strategy that can be used by Nike in order to market this new product. As stated by Kotler & Armstrong (2010), advertising can reach masses of geographically dispersed people at low cost and it enables the seller to repeat messages. For instance, television advertising can reach huge audiences and this is the reason why this strategy is ideal for this new product. Nike is also given the opportunity to say something positive about the brand and it can use integrated media such as print as well as broadcasting services to advertise this product to the targeted customers across the globe. Direct marketing involves the use of SMS, direct mail, online marketing as well as telephone and it is designed to promote dialogue between the marketing team and the consumer (Kotler & Armstrong, 2010). In order for Nike to successfully utilise this strategy, the marketers need to identify the people they can target in the first place and then compile a list. This can be a very effective strategy since it is intended to build one to one relationships between the marketers and the customers of this product. The other strategy that can be used is that Nike can target institutions of learning or other important gatherings specifically meant for sport and try to create personal contacts with enthusiasts in sporting activities. This contact list can then be used to send direct messages to the targeted customers so that they may be attracted to buy this new product. The other effective strategy is the use of internet marketing. â€Å"This is the application of the internet and related digital technologies to achieve marketing objectives,† (Strydom, 2004, p. 240). The main advantage of using this particular strategy is that the company can be in a position to reach a wide range of people located in diverse backgrounds. The internet is fast and it enhances marketing communication in various ways. It enables the company to carry out market research and it can also enable the marketers to interact directly with their customers regardless of the distance that may exist between them. Through the use of specially designed website, Nike can appeal to the interests of as many people as possible since research has sho wn that online business has significantly gained prominence over the past years. The other advantage for Nike in using this strategy is that it has a two way communication channel such that the marketers can get feedback from the customers about their perceptions towards the new Nike FuelBand. Sales promotion is a strategy that seeks to attract the customers and offers them strong incentives to buy the product (Kotler &