Ch. 2 - Strategic Planning for Competitive Advantage

From Left: Steve Breaston (ARI) Calvin Johnson (DET) Chris Johnson (TEN) DeSean Jackson (PHI) Troy Polamalu (PIT)

 Nike has about their strategic marketing planning with marketing plan. It is a guidebook that relates to marketing objectives to stay focuses in the constant changing world.  The basic elements of a Marketing Plan are:


1. Business Mission Statement
2. Objectives
3. SWOT Analysis
4. Market Strategy
    a. Target Market Strategy
    b. Marketing Mix
        i. product
        ii. distribution
        iii. promotion
        iv. price
5. Implementation Control


A good business mission statement is specific to what its goods/services are but must also target the markets they are trying to serve. Marketing Myopia often occurs when a mission statement defines a business in terms of goods and services rather than in terms of the benefits customers seek.
Objectives are vital because they are point out what and when the companies are set to accomplish. Nike has short term objectives where they state what they want to be done in the current fiscal year. They have Long term objectives as well in five year spans. Objectives are also important to lower level employees because it gives them a deadline, something to strive for.
SWOT stands for (S)trength and (W)eaknesses internally and (O)pportunities and (T)hreats externally. Nike targets what strengths and weaknesses internally such as Communication, Leadership, Market Share, Employee Capabilities. They want to keep growing as a team to keep their success rate up!