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BỘ GIÁO DỤC VÀ ĐÀO TẠO

ĐẠI HỌC MỞ THÀNH PHỐ HỒ CHÍ MINH

KHOA ĐÀO TẠO ĐẶC BIỆT

THE PROJECT

Marketing plan for new Nike’s product

(Drafts)

Nhóm: 32

EXECUTIVE SUMMARY

Color-changing shoes are a delicate combination of technology and unique fashion style, bringing a special experience to product consumers. This item is not only an ordinary pair of sneakers, but also a symbol of creativity and aesthetic taste. These shoes not only attract sports and outdoor lovers, but also serve as a bridge between enthusiasts of originality and personal style. A strong marketing campaign will ensure that the product is widely promoted in the media and social networks, and the collaboration with KOLs/innfuencers can create a sensation and get more attention to the product. With a wide distribution system and good customer service, color-changing shoes will be the first choice for those who want to express their personal style.

• Case 2: Enterprises choose to only cooperate with suppliers for a short time, flexibly change to bring newness and comfort when choosing, but are not financially beneficial. RETAILERS AND DISTRIBUTORS (MARKETING INTERMEDIARIES) is the target group of partners in distributing products from businesses to consumers, such as supermarkets, retailers ... The benefits of marketing intermediaries to help businesses can be mentioned as:
• Easier to find and reach customers
• Distribution of goods in large quantities and wide area
• Trade links between distributors in the industry. The role of this target group is very important, and is one of the 4 factors to consider when implementing. Being a person who contacts and takes suggestions from customers on behalf of the business, helping to distribute your products to consumers more widely. Competitors: Many people often have negative thoughts when talking about competitors, but competition are indispensable factor to promote the company to grow strongly. In fact, it is very difficult for businesses to control the actions coming from this target group, they can only observe and predict to be ready to respond to them. For example:
• Target market selection
• Selection of partners and suppliers
• Price suggestions
• Promotions, promotions... Shareholder: are the owners of the company, in the apparatus of directors leading the company. The primary objective of shareholders is always to seek and expand profits. Shareholders are not the ones who directly influence the policies on the marketing environment as mentioned above, but all communication and marketing activities should be conducted in a reasonable way to bring profits to this target group. Goverment: As agencies attached to the Government, or directly Government agencies... They all have an impact on business operations by enacting a number of policies such as:
• Price regulation
• Credit Policy
• Credit Policy
• Education policy.... Publics: is a fairly broad group of people, mostly people who are interested in and follow the business, intending to learn more about the business. Responsibility: For the public, it is the responsibility of business executives to benefit the whole society. Therefore, the designs need to increase the welfare of the whole people, the whole people enjoy. The tasks of marketers are:
• These opinions must be controlled without interfering too deeply
• But still keep the level of interaction for the product/service of the business.
  2. Marco marketing environment:

Demographic characteristics of Vietnam:

Vietnam is the country with the 15th largest population in the world in the population ranking of countries and territories. The median age is 33.2 years and currently 39.48% of the population lives in urban areas (39,908,501 people in 2019). Meanwhile, Vietnam's adolescents account for 23.8% of the country's population (2019). Therefore, we can see that Vietnam is a potential country for the development of Nike shoe products when the company's customers are teenagers.

Characteristics of Vietnam's economy:

Through statistics, we can see that Vietnam is a country that maintains resilience and impressive economic growth. In 2020, Vietnam's economy grew by 2.9%, which is one of the highest growth rates in the world. Therefore, developing business in the Vietnamese market is a wise decision when Vietnam has a fairly stable economic development when maintained at a good level and the economic development rate is superior to many other countries.

Features of Vietnam's natural environment:

Vietnam is a humid tropical monsoon country with cold, dry winters and hot and humid summers, with few natural disasters, earthquakes, storms and floods in the southern regions. In addition, Vietnam is also a country with rich mineral resources for the exploitation of raw materials for shoe production such as rubber soles from rubber forests. Therefore, Vietnam is a first choice country for investment in opening factories here.

Political characteristics of Vietnam:

Not only that, the Vietnamese law and government are also a significant support for the establishment of enterprises and factories here. Specifically, resolution No. 35/NQ-CP and directives No. 35/NQ-CP, 26/CT-TTg and 20/CT-TTg.

Socio-cultural characteristics of Vietnam:

Vietnam is a country that loves justice and justice as a recent survey showed that 80% of Vietnamese believe that businesses should be socially responsible and contribute to the sustainable development of the country. In addition, Vietnam's corporate culture is the use of good and humane values of people in business activities including: values, norms, conceptions and good traditions deeply ingrained in the operation of enterprises.

Continuous product upgrades: Nike has always upgraded and improved existing shoes and launched new shoes that are more modern and quality. The problem with classic nail shoes is that they won't run well on hard courts. So he invented the "waffle" base model with a mold shaped like a waffle toaster. The famous technologies on Nike's shoes can be mentioned as the legendary airbag sole, zoom sole technology to help athletes run faster and more stable, self-lacing technology, foot fixation system on flywire shoes ... and many other specialized technologies for each sport. Fashionable design: Unlike many other sports shoe brands, Nike always tries to bring shoes to every corner of the world, not just on the sports front. Nike's designs, in addition to being effective when competing, are also beautiful when brought to the street. Nike's fashion shoe market or lifestyle is conquering more and more people with legendary shoe models such as Air Jordan 1, Air Max 90, Cortez, Dunk SB,... Unique color schemes, extremely "burning" collabs constantly sweep social networks, making fashionistas, especially street fashion lovers "crazy". High-end, limited, or unique versions can be resold among the sneakerhead community at dizzying prices, 2.3 or even a few dozen times higher than the retail price (retail price at the store) but still always sold out and offered to buy continuously.

5. Product classification: In addition to its ability to shake up the market, Nike also has ways to get customers to buy more than one pair of shoes when they walk into its store. With its traditional model, a Nike store will often arrange products according to the product group model such as clothes, shoes, sandals, accessories (socks, towels, hats ...) into separate groups. There is a dedicated area for everyday wear, a dedicated area for basketball, football, jogging ... Under this model, customers will easily choose the right product for their needs. Inadvertently, customers will also be forced to think which products are only for which purpose, causing many people to buy multiple pairs of shoes for their different uses. From there, sales will also improve. It can be said that this is an arrow that hits 2 targets of Nike. III. STP ( Segmentation, Targeting, Positioning )
6. Market segmentation: 1.1 By geographical criteria: The collection of color-changing shoes grows on a wide scale, regardless of geographical location, in both rural and urban areas. Climate: colors are more diverse during the day, evening colors are more limited 1.2 According to psychological criteria: Grasping the psychology of confusion, not knowing which color shoes to wear. The desire to have many shoes of different colors. Multi-light uses temperature color change technology to produce different colors at each time of day.

Based on the condition of wearing long shoes causes unpleasant odors and sultry weather of summer days. Multi-light advanced technology, using temperature dissipation, cooling inside the shoe. 1.3 According to behavioral criteria: Usage: Shoes are essential accessories, used every day. With the current fashion market, sneakers are popular, often coordinated with different clothing styles. Occasion: A pair of shoes with a lifespan of about five or more (if well maintained). But with the current development of life needs, customers not only buy when old shoes are damaged but also buy for personal preferences, the attraction of products, collect shoes or they buy to have a change, not one color. 1.4 By demographic criteria: Age: The collection of color-changing shoes is aimed at customers from children to middle- aged. From 3 – 40 years old. Compared to previous versions, there will be more sizes for children, but will mainly focus on students, office workers, sportspeople, people who need and love Nike shoes. Gender: For all genders (Men, women and LGBT community) Income: So the product is aimed at people with a stable income level or more. Industry: There is no distinction, everyone is on the company's target list

2. Review of market segments: 2.1 Scale and growth: The sneakers market in Vietnam is growing strongly, which is reflected in the increasing number of retail stores, well-known brands expanding distribution networks and the increase of consumers using this product. Based on recent studies and data, it can be estimated that between 40% and 50% of the Vietnamese population uses sneakers. Among shoe brands, Nike has a large market share in Vietnam, based on participation in events, social networks and online interactions, as well as celebrity influence and sales. 2.2 Market attractiveness: 2.2.1 Market factors: Identifiable lead segments: From the age of 18-40, the product has multiple versions for everyone. Thus, the accessibility is also higher. Shopping cycle: Shoes are often purchased and renewed according to the needs and preferences of each person. It can be influenced by the design, price, or even the message and value of the product that enhances the experience.

Frequen cy Percent Valid Percent Cumulative Percent Vali d

LGB

T

Us 28 38.4 38.4 47. Fema le

Total 73 100.0 100. During the customer survey, Nike attracted the participation of 73 people. The results showed a diverse distribution of genders: 52.1% were women, 38.4% were men, and 9.6% were LGBT. This split not only reflects the diversity of Nike's customer base, but also provides insight into how different teams approach and interact with the brand. By age: What is your age? Frequenc y Percent Valid Percent Cumulative Percent Valid Age 18 - 24

Age 25 - 30

Under 18 years old

Total 73 100.0 100. Nike's survey results showed that among the participants, 93.2% were young people aged 18-24. These age groups participate in sports activities relatively much, so sneakers get a lot of revenue from people in this age group. In addition, there was the participation of people in the age group of 25-30 but only 4.1% and the age group under 18 only accounted for 2.7%. This suggests that Nike's customers are still young people. Nike is a very prominent name in the minds of survey participants, with 74% immediately thinking of Nike when asked about the first shoe brand they think of. This not only proves the strength of the Nike brand but also reflects their success in building a strong and memorable image in the market School of Sneakers. For the company to have a foothold in the hearts of customers, it should improve product quality, record customer opinions, increase service quality for customers, retain customers with incentives and gratitude,...

Through television, movies, and other media: 11.0% (8/73) of people mentioned that they knew about Nike through TV channels, movies, or live sporting events. Through ads, LED signs and posters: 9.6% of people commented that they knew Nike through ads, LED signs and posters. Product usage time of survey participants: Of those surveyed, 69.9% are new customers, which proves Nike's attractiveness and ability to expand its market. At the same time, 30.1% are returning customers who have used Nike products for more than three years, reflecting brand loyalty and satisfaction. The existence of a large number of loyal customers is a valuable asset, as well as proof that Nike not only attracts new customers, but also retains long-term engagement Survey participants' expectations for new products:

Affordability was the most important factor for respondents considering buying new Nike products, with a result of 56.2%. This suggests that while customers still appreciate the brand and quality, they are also looking for a balance between value and cost. Design is also an important factor, with 24.7% of customers expecting to see innovation and creativity in new shoe models. Product features, including new technology and comfort, are of interest to 15.1% of customers. Finally, quality is still a consideration, even though only 4.1% of customers make it a top priority. What attracted the most of the survey participants:

Recent customer satisfaction survey results for Nike products show a positive outlook. 41.1% of survey participants expressed agreement with the quality and performance of the product, while 28.8% felt completely agreed, indicating a high satisfaction with what they bought. On the other hand, 30.1% of participants were in a neutral position, dissatisfied but also not opposed. These figures don't just reflect customers' preference for Nike products. Satisfaction with product prices of survey participants:

Feedback from survey participants on the price of Nike products gives a mixed view of the company's product pricing. Some customers, 4.1%, strongly disagree that Nike's pricing is good, while another 12.3% disagree with this as well, suggesting that there is a part of customers who feel price can be a barrier. However, a large number of customers, 35.6%, are in a neutral position, not too opposed but also not completely satisfied with the price. This may reflect a balance between the quality they receive and the cost they pay. On the other hand, 24.7% of customers agree and 23.3% strongly agree that the price of Nike products is good, indicating a significant satisfaction with the value that the product brings relative to the cost. The above information partly helps Nike better understand its customers when thinking about the price of its products. In addition to customers who are satisfied with product prices, there are still a large number of customers who think that the price of Nike products is not really good compared to their pockets. The level of desire of survey participants to introduce products to relatives around: Survey on willingness to recommend Nike products to family and friends 41.1% of survey participants expressed complete agreement with the product recommendation, which indicates a trust and satisfaction with Nike products. Another 30.1% agreed, reinforcing overall satisfaction.

durability. Built on a strong reputation and brand identity, Nike has always been the first choice for sports and fashion lovers. In addition, the product also launched a variety of shoe sizes for both men and women, even in this product launch, Nike also focused on more sizes for children. With designs ranging from running shoes to basketball shoes or even fashion, each pair of Nike shoes reflects the diversity of how they are used, suitable for a variety of activities, lifestyles and aesthetics of each individual. The highlight of the shoe is the uniqueness and creativity of color through Applying photochromic paint technology, which allows shoes to change color when exposed to light, creating attraction and difference among the crowd. In addition, Nike also shows its support for those in the LGBT community by launching 1 more 7-color version to energize and cheer for you. Not only that, Nike's modern technology cooling rubber sole is also highly appreciated for its durability, slip resistance and cooling feature that also dissipates heat for the foot, and Nike is constantly innovating technology to improve the quality and performance of shoe soles. This proves that, each pair of Nike shoes is not only a fashion product, but also a powerful support tool for all sports activities and daily life.

2. Weakness: Although Nike is a leading brand in the athletic shoe industry, there are also undeniable drawbacks. The pricing of Nike products is often higher than that of other non-specialized products, which can limit the reach of some customer segments. Dependence on the market is also an important factor, as Nike's sales can be affected by sports and fashion trends, especially in a rapidly changing industry like fashion. In addition, the use of photochromic coating technology not only increases production costs, but can also affect the durability of colors on products, when colors can fade over time or when exposed to harsh or unstable environmental conditions. The reliance on temperature to alter the color is also a limitation, as the color cannot be changed at will if the temperature is insufficient or too high.

Finally, the use of rubber shoe sole materials can cause a negative impact on the environment, especially when considering the manufacturing and consumption process. This requires Nike to rethink its manufacturing and sustainability strategies to minimize its environmental impact and serve a wide range of customers in order to maintain its brand reputation.

3. Opportunities: Nike is facing great opportunities to expand and innovate in the field of fashion technology. With the continuous development of modern fashion trends, Nike is likely to seize this opportunity to launch new and unique products, such as shoes capable of changing color according to light or temperature, attracting the attention of consumers who love novelty, innovative and unique. In the field of marketing and advertising, products with this unique feature can become the focus of attention in creative advertising campaigns, helping to create a strong and unique brand. This not only helps Nike stand out from the crowd in the fashion market, but also creates a strong bond with customers through the unique product experiences of the Nike brand. Market expansion is also an important direction, with the introduction of new and more diverse products, Nike can reach many different customer segments, from professional sports players to street fashion lovers. Finally, sustainability is an extremely important topic in today's society. Nike has the opportunity to invest in sustainable manufacturing, minimize environmental impact, and demonstrate its commitment to social responsibility. This not only helps protect life on the planet but also creates a positive impression in the hearts of environmentally conscious consumers.
4. Threat: Nike, with its color-changing shoes, will face the challenges of a fiercely competitive market. Competition from big brands like Adidas, Puma, and Under Armour requires Nike to constantly innovate to develop the uniqueness and appeal of its products. Market volatility and rapid fashion trends also increase the risk of products becoming obsolete faster, forcing Nike to