Introduction:
Nike is a brand that is very well known for its swoosh logo. Style is the name of the game. The selection of shoes to choose from is extensive. One would question if the shoes are comfortable and for those wanting to style in their shoes would say yes, for someone who works in the healthcare field or is on their feet standing all day these shoes/ brand wouldnt be ideal. For a healthcare worker style is a thing of the past during their job hours and comfort is key. Could Nike work towards creating a shoe that is orthopedic? Or are brands like Asics, Brooks,and Hoka’s the key leaders in orthopedic wear without meeting style.
Target Audience:
The target audience for Nike is those that are wanting style and comfort. Millenials and Gen Z are the primary audience to Nike’s market. Both males and females can be seen with nike shoes. Athletes are the ones that are seen with Nike shoes. Nike is a lifestyle brand of sorts. In high schoool you can see students with Nike shoes. Nike markets their shoes through social media like Twitter, Facebook, Instagram and TikTok. Overtime the tartget market will change for Nike and thus we will be in a new era of consumers. I was once told by a dance teacher that my heels I liked to wear around the high school campus would do more harm than good to my feet overtime, because she had been in my shoed before and done the same thing. An orthopedic shoe would bring forth to Nike a new era of consumers and an even bigger target market like Generation X, and Baby Boomers. The creation of an orthopedic shoe will bring forth doctors approvals from the American Podiatric Medical Association will give it the stamp of approval.
Sizing up the competion:
If Nike were to expand into an orthopedic shoe it has some cometition going against it: Hoka, Brooks, and Asics just to name a few would be Nike’s biggest competitors into an orthopedic shoe. Hoka, Brooks, and Asics have a huge following from students in nursing programs, to Jeremy Renner and Brooks being his favorite, even this author is a fan of all three due to her job as a pharmacy technician. The technology created by each company into the shoes creates comfort and ensures that long days standing and runnning in a cubicle dont cause tired achy feet. however if there is one thing the competitors could work on is style, which is something that would make Nike stand out from the competition. We will review Brooks as Nike’s biggest competitor.
The competitions Strategy featuring Brooks:
When it comes to Brooks shoes they are the most cofortable pair of shoes you will wear. brooks is a dedicated running brand of shoes creating technology that is comfortable and supporting for running. Brooks are sold within Dick’s Sporitng Goods and Academy Sports and Outdoors, with most of the sales being done online. Brooks shoes are between the mid-high range pricing becuase of the quality of the shoes and the fact that they are meant to be orthopedic. The loyalty for these shoes is through the community that actively wears them becuse its the same way I got my first pair of shoes, by asking for comfort as opposed to style. Also digital engagement on youtube and instagram helps the company succeed.
External Factors:
If Nike were to create a new product one of the external factors for the creation of the product would be technology, because the competitors in the orthopedic shoe creations have been working for years to perfect their product. Could Nike be able to step up to the challenge of creating a product that would be deemeed worthy by those who appreciate orthopedic shoes? Would the American Podiatric Medical Association(APMA) be willing to help Nike come up with the technology for their shoes? Would Nike have to patent the technology for orthopedic shoes? Do their competitors even have pantents for the technology for orthopedic shoes?
Nike Product Research:
For a new product to be launched at Nike it would require extensive research into what components are required to create an orthopedic shoe. Can Nike bring the same quality of style to an orthopedic shoe? their competitors are at the top of the game when it comes to the orthopedic shoe, however the style is lacking because it is not a Nike shoe at all. If Nike could create both style and orthopedic comfort sign me up ASAP. They would also need to survey what kinds of foot problems people suffer from and if the shoes can be used by all the consumers with multiple foot problems or just the ones with a particular product.Accorfimg to APMA.com Nike does have an ortophedic shoe however it does not compare to the vast amount of shoes approved by the same association with Brooks running. This means that the game is being won by Brooks in orthopedic care. If Nike were to manage to step into the game of orthopedic shoes they could generate more revenue than the one that they are already earning for their company.
References:
https://www.apma.org/patients-and-the-public/apma-seal-program-listing/
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