Specifically, the following critical elements must be addressed:I. OverviewA. Introduce your...

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Specifically, the following critical elements must be addressed:I. OverviewA. Introduce your organization, product, and industry you have chosen using a SWOT analysis to address the strengths, weaknesses, opportunities,and threats through supportive research.B. Describe the initial industry trends that require consideration. Include examples to support why these industry trends require consideration.II. Marketing Mix Elements---Product, Price, Place, PromotionA. Explain the potential target demographics of your new product.B. Evaluate the influence of internal and external organizational factors aligned with the present potential target demographic.C. Identify the product need in the market. Include examples to support why the product is needed by the target market in the given market.D. Identify the appropriate pricing strategy for the product in the market. Include examples to support why the pricing strategy chosen is the bestoption.E. Determine appropriate placement of the product in the market to ensure effective launch. Think about how the target market might respond.F. Determine the most effective method of promoting the product. Provide examples to support your claims.G. Describe the potential ethical and legal implications of the marketing promotion being recommended.H. Describe how your marketing mix element research aligns with industry trends. Be sure to include product, price, place, and promotion in yourdescription.III. Concluding Findings and LimitationsA. Describe the internal and external factors that support the organizational objectives. Be sure to think about how marketing research supportsorganizational objectives.B. Determine any possible, plausible future trends that may drastically change present findings in relationship to organizational objectives.C. Summarize how the marketing research might be supported by industry trends. Be sure to also think about how the marketing researchsupports industry direction.D. Compare how your proposed marketing strategy aligns with legal, ethical, and industry standards.E. Identify the implications for implementing the marketing proposal. Be sure to think about any legal or ethical influences.F. Identify the limitations of the marketing proposal based on available research. Provide examples of the limitations to support your claims.

Tanmoy · Accepted Answer

Nike
I. Overview
A. Introduction
Nike is an American sportwear company which began its journey since 1964 as Blue Ribbon Sports Inc. it was founded by Bill Bowerman and Phil Knight. Presently, Nike is headquartered in Beaverton, Oregon, United States. It deals with selling of various products like athletic footwear and apparel, sports equipment and various recreational products. The revenue of the company as on FY 2020 stands at $37.40 billion. There are numerous products which are marketed by Nike under its own brand called Nike Golf, Nike Blazer, Nike Skateboarding. Nike also launched a smart watch in collaboration with Apple. We will discuss more on the Apple Watch Nike+ watch in this paper. 
SWOT Analysis:
Strength: There is a wide diversity in the Nike Brand like Nike, Jordan and Converse. Further, Nike’s brand has high valuation with stronger than ever position on the NYSE and highly trusted by the investors. Nike is world’s largest company manufacturing athletic footwear and commanding almost two-third of the US market alone. Nike have huge number of stores globally. Also, Nike is present in China, Japan, Europe, North America and the emerging markets like India and Brazil. Finally, its products are low cost and innovative which are majorly aimed towards the emerging Asian markets.
Weaknesses: Nike’s product sale is too much dependent on its brand recognition and vulnerability. Even if Nike controls the US market, yet its competitor like Under Armour is growing fast. Nike is regarded as a greedy multinational company in many emerging markets which try to exploit the poor people. Many of the Nike products are highly priced compared to the other brands. Further, Nike’s product line is limited only to sports apparel and footwear market. Finally, there is high operational cost for Nike product in the developed countries. 
Opportunity: The opportunity available to Nike presently is in China market. Further, Nike is one of the few brands which is renowned and is succeeding in the Asian market. As stated by CEO of Bomoda, Brian Buchwald that Nike is a pre-eminent company of foreign origin which is able to establish a well-integrated relationship with the Chinese customers apart from Apple. Further, the trend of the customers universally is to be fit and healthy. Nike wants to focus on the issues like better health by incorporating running in the lifestyle of these sports’ enthusiast. Hence, Nike is able to bank on this issue by strategizing and investing on new solutions in the form of wearable devices which are connected to modern smart watches. 
Threats: Nike’s CEO, Mark Parker states that even if the customers prefer premium brands of footwear and apparel, if the market changes, then Nike can find a new niche for the customers. Also, there is a possibility for Nike that the can enter in a massive price war where almost similar brands with cheaper price can take away the share of Nike. 
B. Industry trends
There is tremendous growth opportunity for the global sports apparel market as reported in Research Dive and is expected to generate revenue to the amount of $267576.3 million by 2028. Further, there is expected to be an exponential growth in CAGR of 4.8% in the period 2021-2028. There will be increased prevalence of chronic diseases in the form of diabetes, obesity, arthritis which will force the people globally to incorporate fitness activities in their lives. These may be in the form of running, cycling, gym, biking etc. Further, these fitness activities will help to reduce the work-related stress and help to build a strong immunity. These factors will drive the sports apparel companies to launch highly innovative products like Nike watches and various other electronic devices which can be used to measure the pulse, weights and other features of the fitness lover. 
Further, the growth is expected to happen in the Asia Pacific region and is estimated to generate $96724.4 million during the forecast period.

Specifically, the following critical elements must be addressed:I. OverviewA. Introduce your organization, product, and industry you have chosen using a SWOT analysis to address the strengths,...

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