MKTG1092: Nike - Global Market & Consumer Changes - Management Assignment Help

Assignment Task:

Task:

Question 1 (10 marks)

Nike is constantly being challenged to develop and launch a continuous range of new shoes.  To do so, they need to understand what product innovation capabilities to develop and embed in the organisation as global markets become more dynamic and consumer’s needs, wants, and behaviours change.
Discuss expected global market and consumer changes over the next 5 years and what capabilities Nike will need to develop to sustain successful product innovation over that period of time.  Are these capabilities any different for your semester project partner? Why/why not?

Question 2 (10marks)

For Nike, developing new products quickly by engaging users, and then launching them effectively, is important for success. Nike, however, are always on the lookout for new or improved ways to implement the product development process and have asked you for advice on what they might consider.
As a consultant to Nike, and as an expert on product development, discuss the value and evolution of the stage-gate process and how it could be implemented by Nike to develop and launch great new products. Management has also asked you to consider in your discussion the issue of balancing speed with risk, and the increasing demand by their users for sustainability and eco-friendliness in the products they produce.

Question 3 (10marks)

Design thinking and understanding product design principles are important to the design and development of new products.
How can designing thinking, and an understanding of product design principles, help Nike reshape and improve the way in which it comes up with new product ideas, tests new product concepts, and designs and manufactures new products that offer value to consumers.

Question 4 (10marks)

Launching new products is a challenging part of product innovation. This challenge is exacerbated when competition is intense, when there is real downward pressure on budgets for launch campaigns, and consumers are hesitant to spend on new products. Given a scenario of budget restrictions, high competition, hesitant customers, and the need to achieve a sound ROI, discuss how Nike could use an understanding of the
Rogers Diffusion of Innovation Model to help them develop a social media driven campaign to cost effectively launch a new product to non-professional runners in Australia.

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