Nike has revised its environmental strategy and this was explained in-depth in the company's annual sustainability report. Stakeholders are groups or individuals that have an interest in a business. Nike held its first formal stakeholder forum in February 2004. How do you communicate with stakeholders? Certified Akashic Record Reader & Life Coach. For starters, according to Matheson, Nike is looking for people who are curious, flexible, resilient, self-starters with high personal standards, optimistic, and great team players, the brand is also looking for its most help in these fields: retail, digital, brand marketing, and social media marketing. Kevin Keller is a branding expert who posits that for the process of development and sustenance of product identity and equity integrated marketing communications have an important role to play. The corresponding CSR policy and strategy are based on Nikes consideration for communities and customers, whose interests significantly influence the companys design and production of its athletic footwear, equipment and apparel. 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. The company addresses these interests through significant R&D investments. NIKE's corporate governance reflects the company's commitment to monitor the effectiveness of policy and decision-making both at the Board of Directors and executive level. 2 How does Nike communicate with their employees? These CSR efforts are expected to maximize Nikes ability to produce more popular and advanced athletic footwear, apparel and equipment. 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. This strategy has been designed to recognize and support the structures and working practices arising from Foxconn, Apple's main supplier of iPhones and iPads. Branding is another important part of Nikes marketing strategy. Between its brand legacy, its knowledgeable team and its commitment to the entire athletic experience, Nike proves it knows athletes. Governments are interested in legal and regulatory compliance, as well as business contributions to tax revenues and community development. 1971 the name changed the name for 'NIKE', the logo and their design. It is a maker of sports apparel and shoes. Stake: Employment income and safety. Creating long-term shareholder value is facilitated by focusing on NIKE . They also want to create business opportunities that set them apart from competition and also to provide value for their stakeholders.Having objectives in a business is very important because it brings . Organizational Culture Characteristics: An Analysis, Amazon.com Inc. Stakeholders, Corporate Social Responsibility (An Analysis), Nike Inc. Five Forces Analysis (Porters Model), Burger Kings Stakeholders: A CSR Analysis, Costco Wholesales Stakeholders: A CSR Analysis, Whole Foods Market Stakeholders: A CSR Analysis, Nike Inc. Define sustainability strategies, goals and policies in consultation with key stakeholders. 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. Nike throws heavy sponsorship programs and celebrity endorsements to project its products, drive awareness and gain popularity and positive image in the audiences. Nike has admitted it cannot guarantee that its products will not be made using child labour in a report designed to address the accusations that have plagued the company. Participants included: *Individuals participated not as representatives of their organization. The global data room market has already hit the billion-dollar figure and is expected to reach $3 billion by 2027. The main methods of ICT Sainsbury uses externally Face to face: Sainsbury sets up a customer service desk which deals with customer's enquiries and complaints. External integrated marketing communication refers to the outsourcing of marketing or public relations companies by the businesses to market their products and services. The company has a presence in nearly every country on the planet, and its products are revered in many corners of the world. How does Nike build relationships with customers? The stakeholder group of communities has a significant influence on Nikes corporate social responsibility standing. Cotton accounts for 12.34% of all insecticide sales and 3.94% of herbicide sales, even though cotton covers only 2.78% of global arable land. Overall, Nike Inc. is effective in ensuring that its corporate social responsibility programs support the business aim of optimizing revenues from the sale of sports shoes, apparel and equipment worldwide. Public relations is also a key part of Nikes marketing mix. What are all the stakeholders that can be affected by Nikes strategy? In this capacity, Forum jointly selected stakeholders with NIKE, coordinated the overall process, led stakeholder discussions and virtual feedback sessions, and consolidated feedback for us. Its tweets are short, punchy, compelling, and nearly always include the hashtag #justdoit or other community-building hashtags like #nikewomen. This has led Nike to focus on innovation and creating new products. Our Approach to Sourcing. The two men started to sell their own products and sponsored Prefontaine who was the beginning of Nike's success. See our Privacy Policy page to find out more about cookies or to switch them off. That information can be found at www.theglobalalliance.org. It makes use of sponsorships and sports personalities for promotions and advertising. 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. The Swooshs stable of designersVirgil Abloh, Riccardo Tisci, Kim Jones, Rei Kawakuborivals that of any luxury conglomerate. Nike has the following stakeholders, arranged according to the firm's prioritization: customers, communities, employees, government, and interest groups. Employees are the last key stakeholder group for Nike. Nike uses Twitter prominently to address customer queries with 96.8% of the brand's tweets being replies. Governerates 4. For example, Nike Fuel enables customers to record their progress through the use of Nike Plus devices. Nike used some organic cotton and Better Cotton . Integrated Marketing Communication: A Business Process. The techniques of integrated communication enabled Nike brand to reach the widespread of marketplace and engage its existing customers through multiple touch points such as concentrated media, social media and sponsorship programs. - Sample V/ Nike's Stakeholder analysis Additionally, Nikes marketing campaigns often feature well-known athletes and celebrities, which helps to further strengthen the brands image. Nike uses a number of marketing tactics to communicate its brand, including advertising, branding, and public relations. As of 2020, Nike operates in over 190 countries worldwide. Through SDG reporting, organizations can communicate their progress with their stakeholders and better manage their contributions to the SDG. Nike promotes its products by sponsorship agreementswith celebrity athletes, professional teams and college athletic teams. Use data management systems to summarise key information. The interests of these stakeholders are varied, including fair labor practices, business sustainability, and environmental conservation. Tactics are the specific details of the strategies and actions are the specific details of tactics (Kourdi 2009 45-60). Customers Nike's corporate social responsibility strategy gives top priority to customers as a stakeholder group. Nike could introduce the use of fairtrade in the manufacturing process to ensure their workers receive a sufficient salary, This would increase the sustainability of the company as well as improving their reputation. Nike employees use sporting metaphors for carrying out their everyday business. For CCPA and GDPR compliance, we do not use personally identifiable information to serve ads in California, the EU, and the EEA. Originally the company was named as Blue Ribbon Sports. Through sponsorships and celebrity appearances Nike gives an impression of link between its products and the success of the celebrities (Johnson, 2013). It would benefit the local economy and resolve conflict with employees , customers and suppliers. Integrated Marketing Communication. Nike touches the new customers through social media campaigns and engages the existing customers as well. Nike uses a variety of methods to communicate with its employees. It is The concept and process of strategically managed, audience-focused, channel-centered, and result-driven brand communication overtime according to the definition given to integrated marketing communication by Jerry Kliatchco. As the Coca-Cola Community Relations team got more ingrained with Quorum's tools, the process became easier and more efficient, allowing them to send even more messages to the right stakeholders. The company began mass mediated advertising in 1982 and continuously redevised and refined its marketing communication strategies. The company is among the firsts to assess the potential of engaging the customers through viral video channel Youtube. (LogOut/ NIKEs SB&I team managed the overall reporting process and actively participated in stakeholder engagement as an information provider and listener. How does Nike communicate with their competitors? It has been said in the theories of ethics that if people want to act ethically, then they need to act according to duty. Moreover, the first retailer was created in California. Nike sells its products through three main sources: retail stores, Nike's online store, and company-owned retail outlets. Social Media. The highlight of the social media communication strategy of Nike is that it has around fifty microsites maintained separately and tailored to meet the requirements of integrated marketing communication strategies (Anderson, 1999). Nike Inc. recognizes the significance of employees as a stakeholder group that influences organizational effectiveness. Nike collaborated with Better Buying to invite our suppliers to participate and we use the information to help inform system and process improvements. External Stakeholders In Nike. Nike was affiliated in footwear, sportswear, apparel of golf and team uniform on 1972 until now. Reach $ 3 billion by 2027 see our Privacy Policy page to find out more about cookies or switch. By the businesses to market their products and sponsored Prefontaine who was the beginning of nike & # x27 s! And continuously redevised and refined its marketing communication refers to the outsourcing of tactics! 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