Ch. 11- Developing and Managing Products

Nike is a very well known brand and with this type of popularity, Nike still manages to put a whole lot of effort in creating different innovative ways to promote a product. With so many products that Nike has, it may be hard for them to think of new and innovative ideas to branch out. Although this may be true Nike never disappoints Nike goes through a rigorous product development process. The new product strategy helps them put everything together from marketing all the way to finances. Because of a continuous cycle it is easy to pinpoint their ideas and whether it can contribute to the company’s growth or hurt them. Nike usually takes a lot of ideas from their competitors and innovates them to make them better Many companies look at their competitors (Nike being in this category) ask their customers & athletes what they would want. For example, in the most recent release of the Kobe X sneaker, shoe designer Eric Avar discussed different things for two days with Kobe Bryant according to an article I read on Sports Illustrated (http://www.si.com/nba/2015/01/21/nike-designer-eric-avar-on-kobe-x-kobe-bryant-lakers). This is something that has been common in the development of the Kobe Bryant Nike sneaker since its initial conception in 2006.

Nike' s product creation and development team are involved in the first stages of creating new products, commercialization and getting them to consumers. This involves everything from (target marketing) , materials and construction, material sourcing, product testing and product confirmation. They work directly with overseas factories to facilitate product samples, testing for color variations, garment construction, fit & comfort and many more. When Nike develops a product they use innovative products the reduce environmental waste one their behalf. Nike's main goal is to deliver the best product to its consumers while outdoing their competitors, which in recent years they've had little problem doing. Nike frequently comes out with a new products and release certain products every few months such as basketball & running sneakers. Nike like most successful companies do, strategically plan ahead and effectively plan well for future products. Nike is very good at this, as they usually plan releases and completion of new products anywhere from 6-10 months in advance of the release date, they bring anxiety and anticipation to the product by releasing info on it little by little, in addition they will make certain products limited to the public which further adds anticipation. This gives consumers who are able to buy their products a sense of exclusivity because not everyone will be able to buy the specific shoe being released.



Kobe X 2015 Christmas Edition

When Nike usually releases a product, they will already have the next one planned out at the same time they release the initial product. Nike always has the next series or improved version of that product planned out as well. Innovation is constant at Nike and is an everyday ideal in the Nike Inc game plan. Nike is one company for example that usually practices simultaneous product development, specifically with their sneakers. Nike will usually release anywhere up to 3 different types of their basketball sneakers at the same time and anywhere from 5-7 different athletic/casual sneakers at one time, and even do this based on seasons, holidays, and even schedules of the professional/amateur sports involved, for example releasing numerous shoes inspired by the upcoming NBA playoffs. Nike also does holiday inspired products and releases them in time for  specific holidays such as Christmas, Easter, July 4th etc.