Marketing mix consists of four elements that are product, price, place and promotion. It is known as one of the most important factors in marketing that can help to market the right product to the target audience. Marketing mix can be used for any product or service in any area and sports is not an exception. Sports marketing managers control each element’s strategy of the marketing mix separately. The only difference is that in sports marketing instead of place there is distribution. Therefore, the next paragraphs are focused on product, place, promotion and distribution (Shank).
So, the goal of the product strategy is to provide the right product that meets the customer’s expectations. Formulating the product strategy also includes packaging, merchandising, licensing, branding, developing (Shank) the product, creating new and more innovative sports products and getting rid of old products. Sports marketing also includes service as well. For example, according to the article, Nike first addressed its product strategy via producing and manufacturing professional golf products such, as ignite drivers and irons (Kang). Later on, the company expanded to the manufacturing and designing special sports apparel, footwear (Kang) and accessories addressed for golf players. I personally would adhere such strategy, because based on the success from expensive products as ignite drivers, Nike realized there was more potential for other speciality golf products as well, and bags, apparel and footwear into the line.
The price of a product or service is a crucial factor as well. Price can be based on quality, perception of the particular product or service, components of the product, brand name, heritage, history of the brand, and many other things. Sports marketing managers can use the same pricing techniques, such as price skimming or price penetration. Nike started pricing their first golf products aimed towards professional players with expensive pricing strategy, as the cost of driver and irons for golfers started from four hundred to nine hundred dollars (Kang). However, when the company started producing mass products including the apparel, accessories and footwear, the price strategy for those categories allowed Nike to compete with the most heavy and influent competitors (Kang). In addition, Nike always stated that one of the most important parts of its strategy is to support and make products for the best athletes around the world (Kang), so based on that their pricing strategy could not be cheap and affordable, due to the high quality. I would personally adhere this strategy point.
Some sports marketing managers ignore promotion, but promotion plays an extremely important role in reaching the product or service by the customers. Nowadays the majority of sports companies reach their customers and potential customers via advertising. For example in case with Nike, one of the most successful golf players Tyler Woods advertised Nike (Kang) and was the face of the company. However, it is important not to forget that besides advertising, there are also such important and powerful tools as promotions, sponsorships (Shank) and many others. According to the article by Stephanie Kang, Nike mostly relied on Taylor Woods in terms of the promotion strategy (Kang), however I would deviate from this strategy and besides advertising, and I would try also focusing on special promotions, seeking sponsorships via negotiation and public relations (Shank).
In terms of distribution, such issues as warehousing, retailing, transportation, and others are parts of distribution process. Like any other major sports goods producing company, Nike has its own system of warehousing, transportation and retailing.
Works Cited
Kang, Stephanie. "Nike Golf Finds The Sweet Pot". The Wall Street Journal. Print.
Shank, Matthew D. Sports Marketing. 1st ed. Upper Saddle River, N.J.: Prentice Hall, 1999. Print.
