Question

Nike Big Data Management

With the analysis on the business of this leader in the sports industry, it indicates that NIKE is facing a problem in how to market their customers in a more customized way in order to regain the market share for the young market especially.

According to the 5-forces, Nike is suffering from the great level of competitive rivalry in a saturated market. People within this market have very low cost in switching to other brands while competitors are having similar features on their products. Obviously, NIKE’s young market is losing loyalty to it, while Adidas, New Balance and Puma in sports and Vans, Converse and Supreme in streetwear performance are gaining momentum. It is possible to say that they are not only competing on shoes and clothes but also technologies and stylish design nowadays as customers and even retailers have so much to choose from.

On the other hand, NIKE seems to be ignoring some speciality sports retailers while retailers have deep ties to the young market and community. They act an important role in the distribution chain to help promote the brands. NIKE has to closely work with its retail partners like Foot Locker and even more on its 200+ NIKE stores or other speciality sports retailers.

Moreover, young customers usually go to these stores looking for advice on fitting and matching which means stores seriously affecting teenagers’ selection. In this case, the taste and value of the young customer may have been changed a lot in these couple years due to the influence of social media. Therefore, to regain larger market share and create higher profit, NIKE can use BDA on issues like “The most influential athlete to teenagers'', “The fashion color of the coming year”, “Hot icon or images in the world”, “How many hashtags on the product” and “Most popular Internet celebrity” etc. Although NIKE have been innovative for a long time and equipped with advanced technologies, only further customized marketing can take it up to a notch.

- Please write considerations in developing a Strategy for Integrating Big Data Analytics into the selected company. (300words)

I already wrote strategy about data environment and protection, customer acquistition and retention, personalizing customer experience, network capability, product differentiation, and information technology.

Please bring up the unique idea for me. please help me.

Answer 1

Considerations in strategy for integrating Big Data Analytics into the selected company is needed as Nike is facing challenges of competitive rivalry and its customers are more keen to buy variety of products and customised services through retailers. Nike has started its Nike direct. Apart from helping to personalize their products and recognizing fitness needs, the app helps in Big data analytics by providing customer data and information related to uses and preferences. The strategy for Big Data Analytics can be helpful if it helps in creating more engagement with the brand. There is a need for creating more awareness about Nike's products and services. With help of technology solutions, the brand can become an essential part of consumer life, improving their knowledge about fitness and increasing their experience for buying fitness apparels and footwear. With more engagement the company can share information about their product ambassadors, the latest range of products launched in apparels and footwear, the benefits and technology behind the new launches and the newer trends in market. Its retailers also if they can access the app can have more customer information to serve the customers in a better way and share with customers the relevant information as per their needs and preferences. The retailers can also contribute to Big Data Analytics by giving their inputs and consumer behaviour. These steps can increase the customer loyalty towards the brand and its sales as the app and big data analytics provides more insight into consumer behaviour.