Chapter four: The Marketing Environment

Target Market- is a defined group that managers feel is most likely to buy a firm's product. For Nike, their target markets are males and females ages 18 through 35. Basically, Nike's target market is college and competitive level athletes. 

Marketing Mix- is a unique combination of product, place, promotion and price strategies.

Even though managers control the marketing mix, they have to work with the external marketing environment in order for the company to stay effective and continue to make profits. The external marketing environment has six factors which are, social, demographic, economic, political, technological and competitive factors.  Nike Inc. analyzes all the factors and does their best to execute well in every factor. Nike's main priority is to create and develop new products to help athletes reach and performe at their highest potentials. Even though the target market is males and females between the ages of 18 and 35, nike stills reaches out to other generations and create products for younger and  older consumers. They make sure consumers of all kinds are satisfied by creating products for all types of sports including, football, basketball, baseball, track and other sports. If you go to nike.com, you can see on the top left side it shows the different groups of people they target (men, women and kids).
(Link to nike.com : http://www.nike.com/us/en_us/)
If you click on each of them it will open up a new page and it goes into detail asking for what kinds of products you want to look for and all the prices vary depending on the target of the product.
For example, a pair of Nike Vapor Jet 2.0 gloves for men will cost  $45.00 but for kids it costs $30.00. But also, over time the prices of the products will decrease and make them more affortable for consumers that aren't able to purchase the products in their first release.

 

Here are two pictures of these gloves. The top one is the men's version and the bottom one is the kids version.