A specification that must be made however is that changes in the structure of the budget have occurred. In this order of ideas, the marketing specialists at Nike are more centred on interactive and innovative marketing, rather than traditional marketing operations. In a time of financial difficulties then, the number one shoemaker of the globe is trying to approach the audience using less conventional means. Nike officials argued that they were not in the business of keeping the media companies alive, but that their primary interest was that of best communicating with the audience. In this order of ideas then, the multinational organization drastically reduced marketing budgets for television advertisements and other traditional means and supplemented the budgets for innovative marketing campaigns. "Last year, Nike spent just 33% of its $678 million United States advertising budget on ads with television networks and other traditional media companies. That's down from 55% 10 years ago. [...]Nike -- the 800-pound interrupt marketing gorilla in the sports world -- is increasingly betting on social media, branded content and engagement marketing (where brands engage with the passions and values of their customers)" (Chandler, 2007).
4. Conclusions
Economic crises are generated by a combination of forces and affect organizations and individuals in a multitude of manners. The responses forwarded by each party depend on individual characteristics. Ford for instance decreased its marketing budgets, to then increase them; Nike on the other hand kept them at constant levels but distributed them differently.
However each economic entity will respond to the crisis as the management sees fit and in accordance with the personal features of the organization run, the outside observer can easily reveal a trend of reducing marketing costs when signs of economic crisis are presented. In this order of ideas, most players in the industry find it important to reduce operational costs in times of financial difficulties. Foremost, even those who do not entirely subscribe...
The region's labor force was unable to cover the needs of the construction activity, which allowed for many immigrants to come and work here in the constructions sector. But with the new economic conditions, it is expected that the level of constructions in the region will significantly decrease. New constructions mean new customers for TOTO. Less construction means less customers for the company. Also, given the new economic and financial circumstances,
Economic Challenges Canada Faces In recent years, the challenging economic condition in Canada has emerged as a concern for citizens, policy makers and the government alike. Canada faces challenges in terms of creating a more innovative society, as the country continues to experience a significant productivity gap compared to other advanced industrial economies. The Canadian industry appears to be slower in successfully developing, applying and marketing innovative products, processes and services
In order to be known into the market place and as a new entrant, the company will provide its target market with an affordable cost while providing them a high quality products and services. The company will be given the customer and client a price that is lesser than its competitors so that the consumer will be enhanced to buy and patronize the Global Smart Card. Each card is
Origins, History of the IMF The International Monetary Fund was first conceived between July 1-22, 1944, at the United Nations Monetary and Financial Conference in Bretton Woods, New Hampshire. The conference was attended by representatives of 45 nations, which were called together in order to plan and lay the groundwork for a cooperative economic framework to solve global financial crises before they occur. One key reason for the conference was to
Nonetheless, the market and the industry are highly dynamic, and it is possible for competition in the specific sector to intensify in the future. In such a context then, it is important for the managerial team at South Beach Transport to construct their success on features other than the nature of the service provided. Some of the more notable key success factors include the quality of the products, the
The most relevant competitors at this stage are represented by the Microsoft Corporation, the SEGA Corporation and the Sony Corporation (Hoovers, 2010). In terms of the second persona, the competition is less concentrated as the hi-tech consumers will often renounce brand loyalty and will look for products which serve their needs, even if these products are sold by small size companies. This status quo is due to two primary elements: On
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now