Business plan and marketing strategy for Nike

Business plan and marketing strategy for Nike The real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later. Exective summary Nikes is a world largest company that sell all kind of products in almost every country. Explain the fundamentals of the business: What is your product, who are your customers, who are the owners, and what do you think the future holds for your business and your industry? Make it enthusiastic, professional, complete, and concise. If you are applying for a loan, state clearly how much you want, precisely how you are going to use it, and how the money will make your business more profitable, thereby ensuring repayment Company history In 1962 nike was founded by bill bowerman and as blue ribbon sports.in 1985 the highly turned point of nike was when the world greatest player come into company.first they introduce their product like shoes shirts bags jeckets and with the passage of time they introduce almost every thing which man required.after that nike teamed up and more famous athlete like bo Jackson Andre Agassi, Charles Barkley and many more product. Planning Selecting mission and objectives as well as the action to achieves them which requires decision making.for example nike planning are mission or purposes 2objective 3strategy 4policies 5procedures 6 rules 7programs. Nike MISSION nikes mission is to alleviate poverty by providing quality and cost effective microfinance services to low income households, especially women, in order to enhance their economic role and decision-making capacity. We empower poor women and their families to become economically self reliant by providing financial services in a sustainable manner. We promote economic self-actualization by providing the poor with continuous economic opportunities so they can realize their potential and overcome barriers of poverty. At nike we believe access to financial services is the basic right of each and every individual. nike places the client at the center of all financial services that it offers and designs products and services in the light of the clients demands. We believe clients from low-income communities require innovative financial solutions to meet the many contingencies and crises they face as a result of vulnerable cashflows. With a constantly growing outreach of clients and a diverse product range, nike adheres to delighting its clients with client focused products that grow with their evolving needs. Our future goals are to: 1. Improve access and scale of microfinance services by demonstrating that women in Pakistan are credible and are active economic agents by reaching out to 750,000 female clients by 2010 2. Continue to innovate by creating client-driven products and services for low income households, including home improvement loans and a health insurance product Strengthen customer care processes by empowering field staff to listen to client feedback on a continuous basis 3. Sustain nikes financially viable business model of providing financial services to the poor and mainstream it with other financial institutions to ensure scalability Objectives or goals The ends toward which activity is aimed. In this part we know that nikes abjective is to achieve something in a specific or selected time just say for example nike planning is to sold women wear in 3 month so the employees of nike must have to sell these product within the time. Product and services Nikes product and services are too much and very cheaper because the make a strategy that the sell their product to all customer and get satisfication. For example in shoes product we see that all kind of shoes in nike company are very comfortable and very cheaper.nike almost sell their product in all over the world.for example in Pakistan every body in Pakistan like nike product and they almost use these products.but when we talk about nikes fitness In Pakistan mostly people are unaware about this because when women use nikes fitness items it is totally against islam and we know that Pakistan is a conservative country and people that already lived in Pakistan would,n like this.but on the other side we look that if we sell our product like shoes garments bags we see that these product we can easily sell. Nikes technology When we talk about nike technology we see that this is a multinational company and they almost use good raw and other material for their products.because when the use good material is initial they can get more profit because customer like their product. Market analysis summary Nike is the most successful producers of sports feetwear with rebook aswell as with the manufactures of causal footwear. However now company faces a number of challenges that they does not exist few years ago.now in market thay face a number of company that sell all these product that nike already sell It and these are less cheaper if we compare to all nikes product so now nike are going to change their strategy to face this challenges. Market Needs Now nike change their strategy now the see all the environment that now what market needs in these days for example in summer days they introduce their new product in rainy days they introduce their waterproof jackets. Market Trends Nikes need to use the new strategy just says fo example what is trend now a days in Pakistan we see that their we sell the product that match with the socity and we cant use other products because Pakistan is a conservative country. Main Competitors In Pakistan we see that there are a number of companies that sell all the products that nike also sell. But nike face a number of chelenges because other company sell all these products with the same rate that nike also.so nike should have to change their strategy.they should have to introduce less cheaper product that anybody can purchase easily. Marketing Plan Market research: Why? You spend so much time on marketing-related matters customers, competitors, pricing, promotion, and advertising that it is natural to assume that you have little to learn. However, every small business can benefit from doing market research to make sure it is on track. Use the business planning process as your opportunity to uncover data and to question your marketing efforts. It will be time well spent. Customers Identify your customers, their characteristics, and their geographic locations; that is, demographics. The description will be completely different depending on whether you sell to other businesses or directly to consumers. If you sell a consumer product, but sell it through a channel of distributors, wholesalers, and retailers, you must carefully analyze both the end user and the intermediary businesses to which you sell. You may have more than one customer group. Identify the most important groups. Then, for each consumer group, construct a demographic profile: Age Gender Location Income level Social class/occupation Education Other For business customers, the demographic factors might be: Industry (or portion of an industry) Location Size of firm Quality/technology/price preferences Marketing Strategy The first one is that you really dont need a fancy logo or catch phrase to get your fitness marketing plan to work well for you. The simple truth is that nobody really cares what your logo looks like, nor do they stop and consider using your services simply because you have a nice-looking logo or a really great catch phrase. They stop because youre showing them real, tangible results. Youre in the fitness industry, and thats what people want. They only care about results. Can you actually prove and show them results? How about a before/after photo of a previous client? Make sure theyre ok with you using their photo and/or name!. Location The city of lahore, which is popular as heart of Pakistan , is an important tourist centre in Pakistan . The city houses one of the seven wonders of world and is an established commercial centre. Besides other institutions the place has a good number of basic health facilities that provide services to the residents and tourists. Many healthcare centres operate in the city. The infrastructure include several government hospitals, private nursing homes, allopathic hospitals and dispensaries and primary health care centres. Including the medical college there are seven government hospitals. Some 15 nursing homes provide the services and facilities in the city. Primary Health Care Centers are primarily meant for rural areas and all the 56 centers are located in the rural areas. Out of a total of 45 allopathic centres 39 are in the suburbs. One special fact, as revealed by a study conducted in Lahore , there are many Ayurvedic practitioners in Agra whose average age is about 70 years. The prime hospitals and nursing homes in Lahore include District Hospital, sheikh zaid Hospital ,Cantonment Hospital, Centre Jalma Institute of Leprosy Tajganj, T.B. Hospital Near, Mental Hospital Billochpura, Ashoka Hospital , Amit Jaggi Memorial Hospital , Medical Institute, Sri Ram Hospital. Distribution channel The fitness equipment industry in Pakistan is witnessing significant growth as pakistanis increasingly become health and fitness conscious. The market is estimated to be worth INR 12.5 bn in 2008 and is expected to reach INR 63.3 bn by 2012. The end-user segments include individuals using fitness equipments at home and institutions like health clubs, corporate houses. The report provides a brief overview of the fitness equipment industry including market size, growth, types of equipments and key segments. An analysis of drivers explain growth factors such as increasing health and fitness consciousness amongst pakistan growing demand from corporate houses, entry of foreign fitness chains/clubs, reduction in prices and import duties and real estate boom. The key challenges identified include lack of RD facilities in the country, lack of consumer confidence in Indian equipments, lack of good fitness trainers and lack of space in residential complexes. The key trends identified include health chains entering equipment retailing market, introduction of innovative products and emergence of new distribution channels Operational Plan One of the biggest mistakes that people tend to make is to start a fitness program without planning how it will realistically fit into their everyday lives. As a personal trainer in a club with thousands of members, I have seen many new and eager faces begin programs, ready to commit to 7 days a week the minute they buy their membership. I feel very happy that they are taking such a big step forward but at the same time I cant help but wonder who will manage to make this significant lifestyle change and actually be there in six months. The statistics are not in favor of these new members. Only about 20 percent will actually be able maintain this commitment. . Production How and where do you produce your products or services? Explain your methods of: Production techniques and costs Quality control Customer service Inventory control Product development Legal Environment Describe the following: Licensing and bonding requirements Permits Health, workplace, or environmental regulations Special regulations covering your industry or profession Zoning or building code requirements Insurance coverage Trademarks, copyrights, or patents (pending, existing, or purchased) Personnel Number of employees Type of labor (skilled, unskilled, professional) Where do you find new employees? Quality of existing staff Pay structure Training methods and requirements New hiring in the coming year? Who does which tasks? Are schedules and procedures in place? Financial Plan The financial plan consists of a 12-month profit and loss projection, a four-year profit and loss projection (optional), a cash-flow projection, a projected balance sheet, and a breakeven calculation. Together, these spreadsheets constitute a reasonable estimate of your companys financial future. More important, however, the process of thinking through the financial plan will improve your insight into the inner financial workings of your company. GENRAL LOAN The GL focuses on building and sustaining economic opportunities of poor households and thus achieving nikes over-arching goal of alleviating poverty. The GL is based on group collateral where a group of 25 women jointly insure each other against default. In light of nikes strong commitment to customer care, center members have to wait only 7 days after their registration to get the first loan, while repeat clients can obtain a loan within 24 hours. The loans are advanced to female members of the household and it is the mutual decision of the household to decide on the economic activity that they will invest in. BUISNESS LOAN Clients requiring loans below Rs 500,000 cannot obtain access to formal financial sources, since such amounts are still too small for commercial banks. A quick estimate can show that the potential market for small enterprises is about 6 million with a negligible outreach to such entrepreneurs by the banking and the microfinance sector as a whole. ABC targets fast moving small entrepreneurs through the BSL, the entire methodology of which is based on a credit scoring model. The BSL is advanced to clients with a minimum of 2 years running experience of their businesses and has no collateral requirements. Generally the loan has a minimum processing time of less than 5 days. Strengths and weaknesses are initial and Kotler (1988) says these must cover the four areas of marketing, financial, manufacturing and organizational. Opportunities and threats look at the main environmental issues such as the economic situation, social changes such as the population getting older and technological developments including the internet. A SWOT analysis example for a cosmetics manufacturer might include: Strengths Strong and have a good market experience High brand recognition Better customer dealing Weaknesses Prices perceived to be too high Costs spiralling out of control due to increases from raw material suppliers Inconsistent brand identity Opportunities Growth of the internet leading to an increase in the number of consumers willing to buy online New emerging teen market Threats New affordable luxury entrants to the market threatening to take share from premium brands Major competitor planning to integrate vertically and sell direct to the consumer Rise in popularity of nail spas leading to decline in demand for nail products Management and Organization A project must be included in the general objectives of the business, because it generally mobilizes personnel for a long period of time. This is why it is necessary for an organization to determine its intentions in the medium term (one to three years) before even starting projects. Thus, the management organizational chart serves to provide prospective strategic orientation in order to provide a rough idea of the interrelation of the principal objectives over time. Thus, it makes it possible to define priorities in terms of achievement of objectives and to provide visibility to the organizations ambitions. The management organizational chart, in the case of large structures, may be useful in the form of a Strategic Organizational Chart (sometimes General Organizational Chart), combining several different management organizational charts. The management organizational chart is created by a Management Committee (or Strategic Committee), combining the repesentatives of the organizationss general management. The Management Committee therefore represents the general management of the company for all projects. However, the inclusion of a project in the management organizational chart does not guarantee that the related work will be done. In fact, the term project includes intention, which implies feasibility, which is one of the intermediate stages between the creation of the management organizational chart and the start of the project