(Tiểu luận) product and company nike, inc

These teams will work closely with product management and marketing to ensure a deep understanding of product offerings and to drive targeted sales efforts.. Cross-functional Collaborati

MINISTRY OF EDUCATION & TRAINING

HO CHI MINH UNIVERSITY OF ECONOMICS AND FINANCE

FINAL REPORT

Lecturer: Nguyễn Tiến Huy Subject: Sales Management Class: A12E

Full Name: Nguyễn Ngọc Tuấn Company’s Name: Nike, Inc

TP.HCM, Ngày 28 tháng 3 năm 2023

Table of

Table of Contents Contents

Chapter 1.Product and Company 2

I NIKE, Inc 2

II Proposal 6

Chapter 2.Sales Organization 6

I Sales Organization of Nike 6

II Proposal 7

Chapter 3.Selling Process 9

I Selling process: 9

II Proposal 10

Chapter 4.Sales Targets 11

I Sales Targets of Nike, Inc 11

II Proposal 11

Chapter 5.Sales Budget 12

I Sales Budget of Nike, Inc 12

II Proposal 12

Chapter 6.Sales Staff Recruitment 13

I Sales Staff Recruitment 13

II Proposal 14

Chapter 7.Sales Staff Training 15

I Sales Staff Training 15

Chapter 1 Product and Company I NIKE, Inc

1 History of formation and development:

Nike was founded in 1964 by Bill Bowerman and Phil Knight, who were both track and field athletes at the University of Oregon Bowerman was a coach and had a passion for improving athletic performance through better footwear, while Knight was a business student who saw an opportunity to import low-cost, high-quality running shoes from Japan and sell them in the United States

The company was originally called Blue Ribbon Sports, and its first retail store opened in Santa Monica, California in 1966 In 1971, the company officially became Nike, Inc., named after the Greek goddess of victory The company's first shoe design, the "Nike Cortez", was released in 1972 and quickly became popular among runners

Throughout the 1970s and 1980s, Nike continued to innovate and expand its product line, introducing new designs such as the Air Max and the Air Jordan The company also began sponsoring athletes and sports teams, including Michael Jordan, who became the face of the Air Jordan line of shoes

In the 1990s, Nike faced criticism for using sweatshops in developing countries to produce its products The company responded by implementing a code of conduct for its suppliers and improving working conditions in its factories

Today, Nike is one of the world's largest manufacturers and distributors of athletic footwear, apparel, and accessories The company has a strong brand identity and continues to innovate and expand its product offerings, while also focusing on sustainability and social responsibility in its business practices

2 Logo and Slogan of Nike brand Logo:

The logo of Nike brand is the iconic "Swoosh", which was designed by graphic design student Carolyn Davidson in 1971 The Swoosh represents motion and speed, and has become one of the most recognizable logos in the world

Slogan:

The slogan of Nike brand is "Just Do It", which was first introduced in 1988 The slogan has become synonymous with Nike and is recognized worldwide as a call to action to pursue athletic excellence and personal achievement

I Product

Nike produces a wide range of products related to athletic footwear, apparel, and accessories Some of the most popular products produced by Nike include:

- Running shoes, such as the Air Zoom Pegasus and the React Infinity Run

- Basketball shoes, such as the Air Jordan and the LeBron James signature shoes

- Training shoes, such as the Metcon and the Free

- Soccer cleats, such as the Mercurial and the Tiempo

- Lifestyle shoes, such as the Air Max and the Blazer

- Athletic apparel, including shorts, leggings, t-shirts, and jackets - Accessories, such as socks, hats, backpacks, and sports equipment

Nike also has several sub-brands, such as Jordan Brand, Converse, and Hurley, which

produce their own lines of products related to their respective sports and lifestyles

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II Proposal

Conduct market research: Before proposing any new products, it's important to conduct

thorough research on customer needs, preferences, and trends This can involve analyzing sales data, conducting focus groups or surveys, and researching competitors

Identify gaps in the market: Based on the market research, identify any gaps or opportunities

in the market that Nike could address with new products This could involve identifying unmet customer needs or areas where competitors are lacking

Consider sustainability: Nike has made a commitment to sustainability, so any proposed

products should consider the environmental impact of production and materials used

Focus on innovation: Nike is known for its innovative products, so any proposed products

should focus on bringing new technology or design features to the market

Align with brand identity: Nike has a strong brand identity, so any proposed products should

align with the company's values and image

Test and refine: Once product proposals are developed, it's important to test them with

customers and refine them based on feedback before launching them to the market

Chapter 2 Sales Organization I Sales Organization of Nike

II Proposal

1 Streamlined Sales Team Structure

To optimize the sales organization, we propose the following sales team structure: Territory-Based Sales Teams: Divide the sales force into regional teams, each responsible for a specific geographic territory This approach will enable teams to focus on local market needs and build strong relationships with local retailers and customers

Category-Based Sales Teams: Establish specialized sales teams for key product categories (e.g., footwear, apparel, and equipment) These teams will work closely with product management and marketing to ensure a deep understanding of product offerings and to drive targeted sales efforts

Key Account Management Teams: Assign dedicated account managers to high-potential and high-value customers, such as major retailers, franchises, and influencers These specialized teams will work to strengthen relationships, drive revenue growth, and ensure customer satisfaction

2 Strategic Account Management Framework

value customer relationships Key components of this framework include:

Account Segmentation: Segment customers based on factors such as revenue potential, strategic importance, and growth potential

Account Planning: Develop customized account plans for high-priority customers, outlining key objectives, strategies, and action items

Cross-functional Collaboration: Foster collaboration between sales, marketing, product management, and customer success teams to ensure a seamless customer experience and to drive account growth

3 Comprehensive Sales Training and Development Program

Establish a robust sales training and development program to improve sales team capabilities and ensure ongoing professional growth Key aspects of this program include:

Onboarding: Implement a comprehensive onboarding process for new sales team members, covering topics such as company culture, product knowledge, and sales methodologies Product Training: Offer regular product training sessions to keep sales representatives up to date on the latest product developments and innovations

Sales Skills Development: Provide ongoing training on essential sales skills, such as negotiation, communication, and relationship building

Leadership Development: Offer leadership training and mentorship opportunities for high-performing sales team members and those with leadership potential

4 Integration of Innovative Sales Technologies

Leverage cutting-edge sales technologies to improve sales team efficiency, effectiveness, and adaptability Key technologies to consider include:

Customer Relationship Management (CRM) System: Implement a robust CRM system to track customer interactions, manage sales pipelines, and enable data-driven decision-making Sales Enablement Tools: Adopt sales enablement tools, such as content libraries and sales playbooks, to provide sales teams with easy access to relevant resources and materials Sales Analytics: Utilize sales analytics platforms to monitor key performance indicators (KPIs) and generate insights that drive data-driven sales strategies

5 Sales Performance Management System

feedback to sales team members Key components of this system include:

1 Goal Setting: Set clear, measurable, and achievable sales goals for individual team

members, teams, and the overall sales organization

2 Performance Monitoring: Regularly review sales performance data to identify trends,

areas of improvement, and best practices

3 Feedback and Coaching: Provide ongoing feedback and coaching to sales team

members to support continuous improvement and professional growth

4 Incentive Programs: Implement an incentive program that rewards top performers and

encourages a high-performing sales culture

By implementing these strategies and structures, Nike, Inc will be better positioned to achieve its sales objectives, drive revenue growth, and maintain a strong competitive advantage in the global marketplace

Chapter 3 Selling Process I Selling process:

Nike's selling process involves a series of steps that the company follows to sell its products to customers The steps in this process are as follows:

1 Market Research: Before introducing a product to the market, Nike conducts market

research to identify customer needs and preferences The research helps the company to design products that meet the demands of the target market

2 Product Development: Nike's product development team designs and develops new

products based on market research The products are designed to meet the needs and preferences of the target market

3 Pricing: Nike determines the price of its products based on factors such as production

costs, competition, and consumer demand The company uses different pricing strategies for different products and markets

4 Promotion: Nike promotes its products through various channels, including

advertising, sponsorships, and social media The company uses different promotional strategies to target different markets and customer segments

5 Distribution: Nike distributes its products through various channels, including

company-owned stores, online stores, and retail partners The company uses a combination of direct and indirect distribution channels to reach customers in different markets

6 Sales: Nike's sales team interacts with customers and retailers to sell the company's

products The team uses different sales techniques to persuade customers to purchase Nike products

7 Customer Service: Nike provides excellent customer service to ensure customer

satisfaction The company's customer service team handles customer inquiries, complaints, and product returns

market and provide customers with high-quality products and services The company uses a combination of market research, product development, pricing, promotion, distribution, sales, and customer service to sell its products

II Proposal

Objective: To optimize Nike's selling process and increase revenue by improving the

efficiency and effectiveness of the sales process

Proposal:

1 Develop a Customer-Centric Selling Approach: Nike's selling process should adopt

a customer-centric approach that focuses on understanding the needs and preferences of customers This can be achieved by conducting market research, customer surveys, and gathering feedback from sales representatives on the ground

2 Use Data Analytics to Drive Sales: Nike should use data analytics to identify trends

and patterns in sales data, which can help the selling process make data-driven decisions This data can be used to identify high-performing sales representatives, target new customer segments, and optimize pricing strategies

3 Implement a Sales Performance Management System: A sales performance management system should be implemented to track the performance of sales representatives and provide real-time feedback This system should include metrics such as conversion rates, average order value, and customer satisfaction

4 Enhance Collaboration between Sales and Marketing: Collaboration between sales

and marketing teams should be enhanced to ensure that the selling process is aligned with the marketing strategy This can be achieved by holding regular meetings, sharing data, and developing joint campaigns

5 Develop a Mobile Sales App: A mobile sales app can be developed for the sales

representatives to access sales data, product information, and customer insights on the go This can improve the efficiency of the selling process and enable sales representatives to make informed decisions while interacting with customers

6 Invest in Sales Training and Development: Nike should invest in sales training and

development programs to equip sales representatives with the necessary skills to succeed in the dynamic and competitive sportswear market This training can include product knowledge, customer service, and sales techniques

By implementing these proposals, Nike can optimize its selling process and increase revenue by improving the efficiency and effectiveness of the sales process The proposed strategies will enable the selling process to adopt a customer-centric approach, use data analytics to drive sales, and enhance collaboration between sales and marketing teams With these changes, Nike can maintain its position as a leading sportswear brand in the global market

Chapter 4 Sales Targets

I Sales Targets of Nike, Inc

Nike is a leading sportswear brand with a global presence The company sets sales targets every year to drive revenue and growth The sales targets of Nike are determined based on various factors such as market conditions, competition, and customer demand

The sales targets of Nike are typically set for different regions, product lines, and customer segments The company uses data analytics and market research to identify growth opportunities and set realistic sales targets

To achieve its sales targets, Nike uses various strategies such as developing new products, expanding into new markets, and increasing marketing and advertising efforts The company also focuses on enhancing customer experience and providing high-quality products and services to increase customer loyalty

Overall, Nike's sales targets are designed to drive revenue and growth while maintaining its position as a leading sportswear brand in the global market The company's sales targets are regularly reviewed and adjusted to ensure that they are aligned with the changing market conditions and customer needs

II Proposal

Objective:

To optimize Nike's sales targets and increase revenue by setting realistic and achievable targets that are aligned with the company's overall goals

Background:

Nike is a leading sportswear brand with a global presence The company sets sales targets every year to drive revenue and growth However, the sales targets may not always be achievable or may not be aligned with the changing market conditions and customer needs

Proposal:

1 Conduct Comprehensive Market Research: Nike should conduct comprehensive

market research to identify growth opportunities and customer needs This research should include analyzing sales data, customer feedback, and market trends to set realistic and achievable sales targets

2 Develop a Data-Driven Approach: Nike should use data analytics to develop a

data-driven approach to setting sales targets This can be achieved by analyzing sales data, customer behavior, and market trends to identify growth opportunities and set realistic targets

3 Align Sales Targets with Overall Business Goals: Nike should align its sales targets

with its overall business goals to ensure that the targets are achievable and contribute to the long-term success of the company This can be achieved by setting targets for different regions, product lines, and customer segments based on their potential for growth