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| Kanye West in the Red October Yeezy Sneaker |
When it comes to business marketing Nike Inc. dominates all their competition by a large margin. Their business strategy and their global marketing is like no other. Nike doesn't spend as much money as they did 10 years ago on what I would call "old fashion" marketing or advertising. What I mean by old fashion is the traditional scheme like we are accustomed to seeing or hearing such as billboards, Television ads, and radio. Nike uses a lot social media because its a cheaper and the message is delivered millions of people faster. A excellent example of this is when the all red Nike Air Yeezy 2's also known as the "Red Octobers were released February 9th, 2014. It was a limited release of only 5000 sneakers at a retail price of $245. They sent out a tweet on their twitter account randomly stating that the shoe was on sale at Nike.com. It was an online release only, and the shoe was sold out in 2 minutes, literally. All 5,000 pairs were sold out, and they are now on the resale market for upwards of $4,000.
Nike.com is a major asset to Nike's portion of sales when it comes to everything Nike and the things you are interested in. Nike.com has got you covered from the everyday walking or running shoe right down to the slick sports shoe. Nike Inc. holds the advantage against its competitors with weekly and monthly releases, which gather in a rather large amount of demand or anticipation. Nike has its own twitter handler which goes by @Nikestore on twitter, the presently have over 3.5 million followers. This aside of Nike's other several twitter such as separate twitter handler for its several location such as @NikeNYC, @21Mercer. Nike has a very reputable amount of followers and even though this is a new feature Nike Inc. knows how to approach and penetrate the young market via the internet. Nike already understands the prestige exclusivity that their products carry, taking this into a matter of applying the penetration to the internet market Nike releases popular sneakers via twitter link only.
Nike's products are typically consumer products, as they are for personal use and consumption rather than used for a business. Nike makes shoes and clothes and other items that are all consumer products and are used for those purposes only. Technology is used in the form of Nike + and the Nike Fuel Band but it would inno way shape or benefit an overall company in anyway, as none of their products are considered business products by any means. Most of Nike's products are for specific athletic use and have differing uses, as they make products for many different sports. Nike also sells their products through many different retailers and companies such as Macy's, Sears, JCPenney, Modell's and other types of places. The good thing about that is that wherever these stores are the Nike brand is always seen and is always available to you, and it being sold in these stores always has it in the sight of customers. As for manufacturing, Nike has many contact factories throughout the world, and estimated more than 800 factories world wide that manufacture their products, and even have an interactive manufacturing map on their official website. Nike being one of the best companies in practicing e-commerce through B2B tactics takes huge advantage in the effectiveness of their marketing, as other companies related to them struggle more with B2B .