Nikes Mission is to Bring Inspiration and Innovation to...

This paper will discuss Nike, Inc., a publicly traded corporation within the sporting goods industry. It will identify two segments of the general environment that would rank the highest in their influence on Nike, Inc. as well as assess how these segments affect Nike, Inc. and the sporting goods industry in which it operates. In addition, two of the five forces of competition discussed in the text will be identified based on an analysis of which two are the most significant for Nike, Inc. How well Nike, Inc. has addressed these two forces in the most recent past will be discussed as well as how Nike, Inc. might improve their ability to address these forces successfully in the near future. As the paper progresses opinions will be stated†¦show more content†¦They do not discriminate or target specific groups. With that being said, the demographic segment plays a major role in the general environment of Nike, Inc. and it is important for Nike, Inc. to best identify what thei r customers need based on a wide range of demographic factors. The demographic segment consists of population size, age structure, geographic distribution, ethnic mix and income distribution. (Hitt, M. A., Ireland, R. D., Hoskisson, R. E. (2013). It is important for Nike, Inc. as well as every other corporation within the sporting goods industry to understand their customers and potential customers. Nike, Inc. is a company that sells its products directly to the end user. Who their target market is as it relates to their income bracket, occupation, age, geographic location and overall lifestyle (what do they do for fun, hobbies, recreational activities) is what Nike, Inc. needs to know in order to develop their products as well as their advertisements and is what can greatly influence their business strategy. It is through these demographic and sociocultural segments that Nike, Inc. can make changes to their current products and also better match what their customers need. Demographic information can also greatly influence how Nike, Inc. markets to its customer base. For example, it is important for Nike, Inc. to understand geographic distribution for the mere fact that different geographical locations around the world support different sportsShow MoreRelatedMission Statements : A Mission Statement Essay1137 Words   |  5 PagesEvaluating Mission Statements Most successful companies have a mission statement. But, why is it important for a company to develop a mission statement? The purpose of the mission statement is to describe what a business provides and to whom they are providing for. A company’s mission statement is usually developed by those in upper management positions, the top leaders of the company. 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