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Market Auditing

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Task The next stage of the marketing audit is for you to consider the market for your organisation and evaluate the opportunities and threats that exist for your chosen organisation. NB: if you have a number of markets it is a good idea to focus on just one.Incorporating theoretical concepts into your discussion from chapters 2, 4, 5 and 6 (are these in relation to the new or the old version of the book) of the text, and with the use of other theoretical sources and secondary research, please discuss the following:1. Briefly describe the industry market for your organisation and evaluate cu...

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Task The next stage of the marketing audit is for you to consider the market for your organisation and evaluate the opportunities and threats that exist for your chosen organisation. NB: if you have a number of markets it is a good idea to focus on just one.Incorporating theoretical concepts into your discussion from chapters 2, 4, 5 and 6 (are these in relation to the new or the old version of the book) of the text, and with the use of other theoretical sources and secondary research, please discuss the following:1. Briefly describe the industry market for your organisation and evaluate current trends in:a. Growthb. Profitabilityc. Macro environment (PESTLE factor)2. Outline and examine the major market segments for your organisation and identify your primary, and secondary target markets3. Discuss the level of involvement your primary segment is likely to have towards your organisation in terms of the decision making.4. Describe the nature of competition in your industry. Explain and analyse your organisation’s place in the market by comparing and contrasting its strengths and weaknesses to your main competitor.5. Taking into consideration the primary segment, their level of involvement and the competition, create a positioning map for the market place.More information on how to complete this assessment will be provided on Interact 2Online submission via Turnitin is required for this assignment. Details will be provided by your subject lecturer.RationaleThis assessment assesses the following learning outcomes:• be ableto find relevant and important information about organisations, their industries and marketplaces from secondary sources;• be ableto evaluatethe key marketing aspects of segmentation, targeting and positioning• and be ableto analysean organisation's approach to STP.

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Markets Segments and Decision Making    Market segmentation and target markets is a critical aspect in every business is since it promotes the chances of enhancing the business ability to address its business objectives as well as effectively addressing the customer needs and preferences. Market segments represents groups of customers who share similar characteristics or needs thus enabling the company to shape their products and services to meet the segments or target market needs (Robbins, Bergman, Stagg & Coulter, 2014). Nike represents one of the leaders in the footwear industry with a primary focus on sports products which has helped establish a competitive position for the company over the years. The company designs, develops and manufactures the products and is often regarded as the world's largest supplier in apparel and athletic shoes as well as sports materials. Its revenues are also high owing to the demand of the products and the sustained competitive position held by the company over the years. Today, the company is regarded as the most valuable company within the sportswear businesses with close to $29.6 billion based on its global standing. Within Australia, the company operates under the name Nike Australia Pty Ltd and have sustained the leading position in sportswear over the years characterized by double-digit growth in sales and increasing shares based on the retail value sales. The brand has also significantly benefited from the strong global brand and positive perception held by customers across the world. Besides, its continued focus on product development have enhanced the chances of introducing products with improved functionality and technologies thus gaining a competitive position. Additionally, its success has also been based on the ability to customize products across multiple categories promoting the chances of effectively addressing the customer needs. In this report, a review of the company will be presented based on the industry market it operates in, the current trends, market segments and the level of involvement as well as competition in the industry.

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