Additional details can be found at nikeinc.com. The two men started to sell their own products and sponsored Prefontaine who was the beginning of Nike's success. Don Schultz (2004) defines integrated marketing communication as integrated marketing communication is a strategic business process used to plan, execute and develop, evaluate measurable, coordinated, persuasive brand communication programs over time with customers consumers, prospects, employees, associates, and other targeted relevant external and internal audiences. Nike is also an Organizational Stakeholder of the GRI. The highest number of employees was reported in 2019 when Nike reported 76,700 people on their payroll. There are many video presentation platforms out there and a lot of them are free to use. Employees at Nike are actively engaged with the community and report engaging in community outreach activities weekly. Arsalan is the founder and CEO of Academic Master, Integrated Marketing Communication in Nike. Nike communicates its progress to its stakeholders, through its website nikeresponsibility.com backgrounders, quarterly electronic newsletters, the 2001 Corporate Responsibility Report and Community Investment Report 2002-2003. NIKE engages with a broad range of stakeholders on an ongoing basis, including individuals in civil society organizations, industry and government, as well as consumers and shareholders. Customers Communities 2. Integrated Marketing Communication. Building dialogue for customers to communicate with one another within the community as well as with the company allows real-time conversation and helps to build trust in the brand. The aim of integrated marketing communication is to reach the maximum audience in most effective and efficient way targeting the different segments of market according to their needs and demands. amberley publishing royalties . The customers is the stakeholder most important, the customer can help the company . According to Archie Carroll, stakeholders are individuals or groups that have a significant stake in what the business does. roland kaiser beinprothese. With a global presence, they can create ads that people around the world can identify with, helping Nike communicate their values and mission to contribute to a better world. Identifying and Analyzing Stakeholders and . The companys brand communicates a number of things to the market, including a focus on performance and quality, as well as a commitment to innovation. The pyramid of corporate social responsibility. Academic Master is a writing company that provides free essays to the students all over the World. We see stakeholder engagement as a key enabler of both risk mitigation and innovation. What is stakeholder communication? Like the majority of large corporations, Nike has learned the benefits of an expansive social media presence. How does Nike communicate with competitors? Sustainable development is everyone's business. How often will you communicate with stakeholders? Not everyone responds to your presentation style equally, so by meeting stakeholders separately, you can address their concerns in more detail and with greater control. In addressing the other interests of this stakeholder group, Nike Inc. maintains a number of policies and standards to ensure compliance in all of its business areas. More and more companies are including SDG in their reports and many large financial investors look forward to aligning their investments with the goals. This is the story of how Nike turned itself into a globe-spanning fashion brand. However, the companys corporate social responsibility programs target only a number of major stakeholder groups. To ensure all external stakeholders are accounted for, it was important to break them into categories based on their level of interest and influence they have. We use cookies to ensure that we give you the best experience on our website. Stakeholders are groups or individuals that have an interest in a business. Sainsbury's communication strategy comprises most of the elements of popular communication strategy that include advertisement, letters, newsletters, oral communication, company magazine, formal letters, reports, news conferences, new releases etc. The strategy should communicate to the customers and the internal employees the mission of the organization and the values it stands for. (LogOut/ Integrated Marketing Communication: A Business Process. Write my paper. Stefanos/ Athens Greece, 14565, Nike inspires women to push themselves and reach new heights, Understanding of the apparel and footwear business, Expertise and reputation in sustainability strategy and/or issue areas ranging from water and energy to labor and chemistry, Geographic/nationality, gender and issue diversity, Lindsay Bass, Senior Program Officer, Fresh Water, World Wildlife Fund, Leonardo Bonanni, Founder and CEO, Sourcemap, Garrett Brown*, Coordinator, Maquiladora Health & Safety Support Network, Richard Liroff, Executive Director, Investor Environmental Health Network, Richard Locke, Howard Swearer Director of the Watson Institute for International Studies and Professor of Political Science, Brown University, Eliot Metzger, Senior Associate, World Resources Institute, Andrea Moffat, Vice President, Corporate Program, Ceres, Dara ORourke, Associate Professor UC Berkeley, Co-founder of GoodGuide, Michael L. Reading, Manager, Corporate Partnerships & Bill Bowes Fellow, Environmental Defense Fund, Peter Schulte, Research Associate, Pacific Institute, Matthew Thurston, Manager, Product & Supply Chain Sustainability, REI, Vanessa Timmer, Executive Director, One Earth, Auret van Heerden, CEO, Academy for Sustainable Business, Revamped sections of this report summary and/or the online report with additional content or language and tone changes to better clarify particular report sections, Responded to issues that were raised but could not be changed, Flagged stakeholder input for future consideration in NIKEs sustainability strategy and/or future reports. We do this informally, through participation and/or membership in networks and organizations and as a structured part of our outreach strategies related to issues and challenges. The interests of these stakeholders include support for the development of communities. Additionally, Nike makes use of sales promotion strategies like discount codes to entice potential customers to buy their products. E-mail: This is used . Organizational Structure Characteristics (Analysis), Nike's Mission Statement & Vision Statement (An Analysis), Home Depots Stakeholders: A CSR Analysis, Microsofts Corporate Social Responsibility Strategy & Stakeholders (An Analysis), Unilevers Corporate Social Responsibility & Stakeholders, Intels Corporate Social Responsibility Strategy & Stakeholders, General Electric Companys (GE) Corporate Social Responsibility (CSR) Strategy and Stakeholders - Analysis, United Nations Foundation Nike Foundation, Stakeholder Analysis & Corporate Social Responsibility (CSR). Nike's promotional mix employs a combination of advertising, personal selling, direct marketing, sales promotions, and public relations. Another important stakeholder for Nike is its community. Nike sells its products through three main sources: Your email address will not be published. Required fields are marked *. The brand replied the most on Tuesdays and Saturdays. Change), You are commenting using your Twitter account. Content marketing videos are used by internal communications as a strategic step toward building an aware, informed and motivated workforce and in a timely way. Nike also holds regular investor briefings and holds annual meetings for stakeholders to provide an overview of the companys performance and plans for the future. Vertical integrated communication is a strategy that implies ensuring that the development of new products is in accordance with the companys corporate policies and structure as well. Nike uses a variety of methods to communicate with its employees. Does Nike have a good relationship with stakeholders? For example, Nike continues to provide products with high quality and advanced technology. Integrated marketing Communication and Brand Strategy. The company has a long history of success, and it owes much of that success to its ability to effectively communicate with its stakeholders. (2006). The Nike brand, with its distinct V-shaped logo, quickly became regarded as a status symbolin modern urban fashion andhip-hop fashion dueto its association with success in the sport. Nike tracks its performance according to GRI''s Sustainability Reporting Guidelines and was one of several organizations participating in the GRI''s inauguration in 2002 as an independent organization. What communication methods does Nike use? #1 Customers. We have continued this type of engagement through a number of meetings some informal and casual, others formal and facilitated by organizations including SustainAbility and Business for Social Responsibility. Nike allocates 1.5% of its pre-tax income to support these community development initiatives. A shareholder owns part of a public company through shares of stock, while a stakeholder has an interest in the performance of a company for reasons other than stock performance or appreciation. Required fields are marked *. Nike runs several sports training camps each year for young athletes and prepares recaps in the form of videos to use in internal communication. 1 What does Nike do for its stakeholders? The case of Nike demonstrated that proper and strategic integrated marketing communication can help a company achieve not only larger profit margin and share in the marketplace but enables it to enjoy the fruitful relationships with the stakeholders. Twitter, Facebook, Instagram; these are one of the main social media platforms that Nike is successful in maintaining the strong and powerful brand image across the all popular social media channels ensuring that the enjoyable experiences that its customers have by visiting the retail stores are available on interactive media online (O Malley, 2006). Nike for instance, upon the success of integrated communication techniques for marketing over social media, concentrated media developed an everlasting brand equity, leadership position in the market, awareness of brands among the customers and launch of new products in the name of celebrities that ultimately help the company to grow strategically. 808 certified writers online. Nikes mission statement is, To bring inspiration and innovation to every athlete in the world. And as co-founder Bill Bowerman once said, If you have a body, you are an athlete.. Governerates 4. Published by at May 21, 2022. v Distant competitors NIKE first held a formal multi-stakeholder forum for feedback on reporting in February 2004. Through sponsorships and celebrity appearances Nike gives an impression of link between its products and the success of the celebrities (Johnson, 2013). The brand image and sales performance of Nike sports shoes, apparel, and equipment are significantly subject to the effects of stakeholders interests and corresponding actions. Over 3,900 employees from various Nike stores have participated in teaching children to be active and healthy. Does Nike Have A Good Relationship With Stakeholders? Nike is investing in internal communications programs to excite and engage their employees. The company has a presence in nearly every country on the planet, and its products are revered in many corners of the world. Nike can make a internal official letter to inform the employees if a problem occurs and to let them know what they have to do and what procedure they have to follow. For instance, employees performance directly translates to business performance. See our Privacy Policy page to find out more about cookies or to switch them off. Employees need to feel involved in the business and that their opinions on how the company operates count. Nike Inc. stakeholders interests are satisfied through the companys corporate social responsibility (CSR) programs. While one main reason of its popularity is its innovative products, another is its marketing. Its internal and external strategies confirm with the needs of the modern . For more recent reports, we established panels of experts who provided feedback on early drafts and discussed issues such as materiality, completeness, relevance, tone, performance and the future of our reporting, among other topics. Nikes advertising is often very successful, and the company has become one of the most well-known and respected brands in the world. What communication methods does Nike use? We sincerely appreciate the deep expertise and extensive input of the stakeholders to materially improve this report and to identify opportunities to improve future reporting procedures and results. Meet up with stakeholders who are resistant to change. Nike Inc. addresses these interests through the Nike Foundations initiatives, as well as sponsorships of a variety of related programs. This strategy involves developing new businesses to achieve growth. This strategy facilitates the companys growth by targeting new markets or market segments. This has been true in our history as we have listened to and innovated for athletes to deliver performance products, and it is how we approach our corporate responsibility efforts. For example, Nike enters new markets in Africa and the Middle East to increase its shoe sales revenues. Branding is another important part of Nikes marketing strategy. Nike also sponsors a number of events and teams, which gives it additional exposure and helps to build its brand. The brands shoes are a fixture at runway shows, and sell out in stores. Also, they take the proper steps to measure long-term value effectively. It encourages people to be their best selves, and it inspires them to work hard to achieve their goals. Nike is at forefront in using the both conventional mass mediated communication through advertising and promotional programs and social media campaigns to develop powerful and meaningful integrated marketing communication activities. Values it stands for Nike runs several sports training camps each year for young and... For example, Nike continues to provide products with high quality and advanced technology x27 ; s business provide with... 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